Replies to This Discussion

Permalink Reply by 0rwgvde65zwg1 on July 18, 2013 at 3:20pm

Sure looks like a shell company to me just formed in June 2013, address in Stow is a private residence? wonder if our Land man buddy from Wooster/Hartville is involved? sure looks like he might be? Not surprised after all he has put people thru over the last 3 years that he wouldn't want to be identified that he has another Deal, lol  

Permalink Reply by J McKim on July 18, 2013 at 3:31pm

Which land man are you referring to?

Permalink Reply by Finnbear on July 21, 2013 at 11:35pm

This one?

Hello everyone.

We have a meeting planned for Thursday July 11th at 7:00 pm at Union Local High School. We will be going over the lease and closing details as well as answering all the questions that we can. So we hope to see you all there. Again, the areas open this are York, Meade, Pultney, eastern Washington, eastern Smith and the bordering areas of Richland and Pease townships.

$6400 an acre and 20%

Des Wertheimer

Ohio Landowner Consultants
130 East Turkeyfoot Lake Road
Akron, Ohio 44319
Phone 3***********

Fax 330.319.7363

Permalink Reply by Renee E. Dorsey on July 22, 2013 at 2:59pm

Tom - YES - it is him.  I was at the meeting.   MY concern is exactly the above:  Is there money backing the deal under the Great River name?    We were told that is an LLC formed under Aubrey McClendon's new company.    "If" it is really McClendon, then the money is probably there.  How to connect the two?    I cannot seem to get a straight answer.    My best bet is XTO but I am not sure they are leasing this year.  

Permalink Reply by 0rwgvde65zwg1 on July 22, 2013 at 4:55pm

OMG I would hope everyone has learned the lesson that this man has no credibility, I wonder what happened to all his groups and his title scheme to have landowners pay him for title searches that the O&G will do themselves. Wonder how many landowners missed out on leases they could have signed when he announced he had a better deal pending every time a group announced a deal and his deals always fell apart? just my opinion but I don't think XTO will be doing much more than filling in drilling pools until the beck case is finalized

Permalink Reply by Renee E. Dorsey on July 22, 2013 at 6:00pm

Well, I think I might be in one of those drilling pools, if by that you mean the radius around a producing well.   I am going to talk to a neighbor tonight that is very closely in contact with them.   :O  

**** OH, should also mention the SAME DAY of this meeting, I had a call from Gulfport.   Something is brewing in my immediate vicinity, I just need to find out WHAT.  And WHO. 

Permalink Reply by Renee E. Dorsey on July 26, 2013 at 9:05pm

Who is KWGD?    So now I have XTO or Gulfport - "plays Jeopardy music" - what to do?!?!????

Permalink Reply by Renee E. Dorsey on July 26, 2013 at 10:01pm

Hey thanks, I agree!   Me and my neighbor next door make 20 acres.

Permalink Reply by Tim Tarr on July 23, 2013 at 9:28am

I would take that lease if lease terms good no matter who it was from. With 1 caveat, Payment made within 30 days or lease made null and void. Who cares if they drill or not $6400 should do for 5 years. I haven't even seen offers to buy rights above that.

Permalink Reply by Tim Tarr on July 23, 2013 at 10:00am

Better make sure you have a lawyer look at the lease. 

That's a given on just about any agreement. Especially when it's notarized. As far as placing a cloud on title there should be nothing recorded before payment. That should be covered in the payment agreement. 

Permalink Reply by 0rwgvde65zwg1 on July 23, 2013 at 10:49am

Tim Tarr,  Most O&G & Flippers file the memorandums before they pay or even do the title work, just ask all the Monroe county landowners that signed the ILG lease & were tied up for over 6 months before realizing ILG was a flipper & they couldn't flip the leases & some even had to hire attorneys to get the leases released

Permalink Reply by Finnbear on July 23, 2013 at 1:07pm

As far as placing a cloud on title there should be nothing recorded before payment.

Tim Tarr -  you are wrong on this one. Almost every shale lease filed in Ohio was filed long before payment was ever made. No O&G is going to spend the time and money to lease your land without having a signed, notarized, and filed lease first. It takes too much time and money to do the title work for any O&G company to make that investment without first securing the lease by filing it with the County Recorder. Ohio is a "First Filing" state which means that the first one to the Recorder's Office filing the memorandum holds the lease. In other words, I could sign today with company A for $4k/acre and company B could come tomorrow and offer me $5k/acre or something I liked better and get me to sign it. Company B could take my signed lease directly to the Recorder's Office and file it before Company A got there and by law, Company B would hold the lease on my land. I might be in a bit of legal trouble with Company A over it, but Company B would still hold the lease.

As was stated previously, have a competent Oil & Gas attorney go through the lease with a fine toothed comb and explain it to you so you understand fully what you are signing away. A general practice attorney who is not intimately familiar with the current state of oil and gas activity and leasing in your area is not sufficient.

Know who you are dealing with (avoid the flippers).

Use competent legal counsel.

Learn what you are getting involved with.

Profit - I did and you can too.

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