article: "SHALE BUST HAS BEGUN WITH A FURY" - GoMarcellusShale.com2024-03-28T22:34:29Zhttps://gomarcellusshale.com/forum/topics/article-shale-bust-has-begun-with-a-fury?commentId=2274639%3AComment%3A646692&x=1&feed=yes&xn_auth=noAgreed, Frank, with out a dou…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6466922014-12-10T18:25:00.189ZRobin Smith-lutzhttps://gomarcellusshale.com/profile/RobinSmithlutz
<p>Agreed, Frank, with out a doubt the land of fraud with no one to do anything to put an end to it.</p>
<p>Agreed, Frank, with out a doubt the land of fraud with no one to do anything to put an end to it.</p> I think America is fast chang…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6467842014-12-10T17:51:04.518Zfrank speakerhttps://gomarcellusshale.com/profile/russfenster
<p>I think America is fast changing from "land of the free" to " land of the fraud" How's that for cynical?</p>
<p>A real audit would be prohibitively expensive for an individual landowner. What will be needed is a class action arbitration, where the law firm is willing to front the money for expenses, or find an auditor willing to charge a reasonable price which could be split among the suitors. The lawyer's percentage is negotiable depending on the anticipated recovery. The audit is not as…</p>
<p>I think America is fast changing from "land of the free" to " land of the fraud" How's that for cynical?</p>
<p>A real audit would be prohibitively expensive for an individual landowner. What will be needed is a class action arbitration, where the law firm is willing to front the money for expenses, or find an auditor willing to charge a reasonable price which could be split among the suitors. The lawyer's percentage is negotiable depending on the anticipated recovery. The audit is not as important as establishing a case on firm legal grounds. Since there are so many other lawsuits in various stages it might be that the better course is to find one in your jurisdiction in a similar class to yours (according to your lease language) and join it if the terms are reasonable.</p> Also Frank I would like to as…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6467662014-12-10T12:17:58.119ZJoseph-Ohiohttps://gomarcellusshale.com/profile/JosephEPowell
Also Frank I would like to ask your opinion on a more one on one man to man basis as it troubles me somewhat.<br />
<br />
In your opinion, am I being too harsh on myself when I label myself for instance as cynical / as the cynic's cynic - or do you think I'm just thoughtful and giving these matters an appropriate amount of deliberation ? What are your opinions on my perspectives.<br />
<br />
I'm only asking as I value your opinions.<br />
<br />
Thanks Frank.
Also Frank I would like to ask your opinion on a more one on one man to man basis as it troubles me somewhat.<br />
<br />
In your opinion, am I being too harsh on myself when I label myself for instance as cynical / as the cynic's cynic - or do you think I'm just thoughtful and giving these matters an appropriate amount of deliberation ? What are your opinions on my perspectives.<br />
<br />
I'm only asking as I value your opinions.<br />
<br />
Thanks Frank. Frank,
Wonder what an 'Audit…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6466792014-12-10T10:36:29.852ZJoseph-Ohiohttps://gomarcellusshale.com/profile/JosephEPowell
Frank,<br></br>
<br></br>
Wonder what an 'Audit' would cost a lessor ?<br></br>
<br></br>
Also wonder what would be left to award lessors should a contingency basis class action be successful ?<br />
<br />
Would the royalty be totally consumed by legal fees I wonder ?<br />
<br />
Wonder if there are / have been any successful contingency basis class actions in the Utica 'Play' to cite as examples ?<br></br>
<br></br>
At what point does it all become professional fodder I wonder ?<br></br>
<br></br>
A cynic's cynic (like me) can contemplate many…
Frank,<br/>
<br/>
Wonder what an 'Audit' would cost a lessor ?<br/>
<br/>
Also wonder what would be left to award lessors should a contingency basis class action be successful ?<br />
<br />
Would the royalty be totally consumed by legal fees I wonder ?<br />
<br />
Wonder if there are / have been any successful contingency basis class actions in the Utica 'Play' to cite as examples ?<br/>
<br/>
At what point does it all become professional fodder I wonder ?<br/>
<br/>
A cynic's cynic (like me) can contemplate many horrible scenarios based on discussions found on these GMS pages. There is a new Shale Oil race…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6468572014-12-10T05:03:09.326ZRobin Smith-lutzhttps://gomarcellusshale.com/profile/RobinSmithlutz
<p>There is a new Shale Oil race going on down in Hudspeth County Texas. I am also a landowner down there...it is not Chesapeake so we may actually make some $$...stay tuned</p>
<p>There is a new Shale Oil race going on down in Hudspeth County Texas. I am also a landowner down there...it is not Chesapeake so we may actually make some $$...stay tuned</p> Do you have an audit clause i…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6465962014-12-10T03:35:42.438Zfrank speakerhttps://gomarcellusshale.com/profile/russfenster
<p>Do you have an audit clause in your lease? If not, at some point you will have to join forces with other land owners. My lease allows me to audit once a year.</p>
<p>Do you have an audit clause in your lease? If not, at some point you will have to join forces with other land owners. My lease allows me to audit once a year.</p> Yes, if it comes to that poin…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6467612014-12-10T03:24:31.733Zfrank speakerhttps://gomarcellusshale.com/profile/russfenster
<p>Yes, if it comes to that point, where the case is reasonably solid, attorneys would fall over themselves to get a united landowners suit on a contingency basis. After all, collectively, there are millions if not billions of dollars at issue.</p>
<p>Yes, if it comes to that point, where the case is reasonably solid, attorneys would fall over themselves to get a united landowners suit on a contingency basis. After all, collectively, there are millions if not billions of dollars at issue.</p> The more I read and the more…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6468432014-12-10T03:07:47.403ZJoseph-Ohiohttps://gomarcellusshale.com/profile/JosephEPowell
The more I read and the more I think about it all the more vulnerable / without advantage I perceive lessors / potential lessors to be.<br />
<br />
A shame.
The more I read and the more I think about it all the more vulnerable / without advantage I perceive lessors / potential lessors to be.<br />
<br />
A shame. If you have dry gas,nothing.…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6466732014-12-10T03:07:29.293Zfrank speakerhttps://gomarcellusshale.com/profile/russfenster
<p>If you have dry gas,nothing. But if your gas play also contains substantial oil, oil is where the real profits are (or were).</p>
<p>If you have dry gas,nothing. But if your gas play also contains substantial oil, oil is where the real profits are (or were).</p> When are their books audited…tag:gomarcellusshale.com,2014-12-10:2274639:Comment:6465882014-12-10T02:56:30.706ZJoseph-Ohiohttps://gomarcellusshale.com/profile/JosephEPowell
When are their books audited ?<br />
<br />
After / during litigation ?<br />
<br />
Burden of proof on lessor ?<br />
<br />
I don't know for sure but I think most landowners aren't prepared financially to go to court to prove something like that might be going on - unless an attorney is prepared to take on such a task on a contingency basis.<br />
<br />
Maybe that's incentive enough for some of them to try it on ?
When are their books audited ?<br />
<br />
After / during litigation ?<br />
<br />
Burden of proof on lessor ?<br />
<br />
I don't know for sure but I think most landowners aren't prepared financially to go to court to prove something like that might be going on - unless an attorney is prepared to take on such a task on a contingency basis.<br />
<br />
Maybe that's incentive enough for some of them to try it on ?