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ACCOUNTING QUESTIONS AND ISSUES

ACCOUNTING QUESTIONS AND ISSUESI have been receiving several conflicting bits of advice, all from professionals regarding certain accounting issues. Time now to do the legwork to try to unravel the…Continue

Tags: formation, LLC, questions, Accounting

Started Jun 10, 2011

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daniel cohen replied to Mark McGrail's discussion 'Moonbat Fractivist Descend On Poland Village'
Dear Mark, Perhaps we can agree that our focus ought to be to separate personal opinion from fact. There are a few statements of yours in your responses that appear to fly in the face of reports available to us all. Let's assume that we all…
Friday
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daniel cohen replied to Mark McGrail's discussion 'Moonbat Fractivist Descend On Poland Village'
Dear Mark, Perhaps we can agree that our focus ought to be to separate personal opinion from fact. There are a few statements of yours in your responses that appear to fly in the face of reports available to us all. Let's assume that we all…
Friday
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daniel cohen replied to milton nelson weir's discussion 'Talisman Negotiations - 194 acres in Bradford County / Windham Twnsp.' in the group Bradford County, PA
Carolyn has been around the block a few times, and knows what she's talking about. You'd do well to heed her advice. I have been impressed with her for some time now. Dan
Sep 22, 2011
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daniel cohen commented on paul geiger's blog post 'Marcellus earning'
Thanks Paul, Good stuff to know. Dan
Sep 9, 2011
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daniel cohen commented on Brett R Oxley's blog post 'How can you ensure you are getting paid fairly for your wells production?'
Dear Brett, An excellent question. I'll be following your blog carefully. Thank you for raising the issue. Dan
Jul 21, 2011
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michael j belaj commented on daniel cohen's blog post 'It's Not About Up-Front Money'
Dan this would not apply to stocks only to working interest investors. thanks Michael J Belaj
Jun 22, 2011
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daniel cohen commented on daniel cohen's blog post 'It's Not About Up-Front Money'
Dear MIchael, A most interesting perspective. Would that also apply to the stocks of the O & G company, or only to the drilling practice in general or to a specific well? You sound technically hep- may I ask how you came to this particular…
Jun 20, 2011
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michael j belaj commented on daniel cohen's blog post 'It's Not About Up-Front Money'
Dan Reinvest your money in what made you the money in the first place Oil and Gas. If you invested in a drilling program or a single well you could write off 75 cents on a dollar the first year intangable and 25 cents on a dollar over the next 7…
Jun 20, 2011
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daniel cohen commented on daniel cohen's blog post 'It's Not About Up-Front Money'
Dear Todd, You advice is right on target, and I appreciate the response. Since my property is in Penn., and I live in N.Y., I'll need someone familiar with N.Y. & Penn. law. Does your friends outfit have that expertise, or would they be…
Jun 16, 2011
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Todd Charles commented on daniel cohen's blog post 'It's Not About Up-Front Money'
Hi, Daniel, Yes, I am familiar with, and utilize all of the "protocals" listed in my reply to you. I know about them through the financial consulting firm that is owned and managed by a trusted family friend of long standing. I live in WV…
Jun 16, 2011
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daniel cohen commented on daniel cohen's blog post 'It's Not About Up-Front Money'
Dear Todd, You are exactly right. The problem here is that although I've looked into that approach, the professionals who should be informed about such matters are giving me conflicting advice. I've taken the blog route to try to get a…
Jun 16, 2011
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Todd Charles commented on daniel cohen's blog post 'It's Not About Up-Front Money'
Get yourself to credible financial consultants that will help advise you about such things as : living trusts (with total dispersal amoung beneficiaries and/or trustees), Roth IRA's, uniform gifts to minors (up to $11,000 per year), family…
Jun 16, 2011
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brian kulp commented on daniel cohen's blog post 'It's Not About Up-Front Money'
hehe i know  
Jun 16, 2011
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daniel cohen commented on daniel cohen's blog post 'It's Not About Up-Front Money'
Dear Brian, Understood-but I prefer to leave any estate to my real heirs, and prefer not to have the government become my principal/main/only heir! Dan
Jun 16, 2011
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brian kulp commented on daniel cohen's blog post 'It's Not About Up-Front Money'
live free pay taxes then crocke it the american way.
Jun 16, 2011
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daniel cohen replied to T. Eric Blocher's discussion 'Valuation of lease rights in a limited partnership'
Dear FXEF, Perhaps I'm way wrong here, but it seems as if the conversation so far is focused into pretty strict specifics of  particular points of interest revolving about the valuations  for limited partnerships. Your question goes…
Jun 15, 2011

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Daniel cohen's Blog

daniel cohen

It's Not About Up-Front Money

Dear All,

It's not the amount of money up front that you get, nor is it the royalty % that ought to rivet your attention. The real question is how much of whatever you get will you be able to keep? I just finished paying .43 cents on the dollar back to the government- that's a hefty bite out of the proceeds before any royalties have started to flow.

The expertise of knowledgeable accountants should have been sufficient. It was not. I have been getting all sorts of conflicting…

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Posted on June 14, 2011 at 6:00pm — 10 Comments

daniel cohen

HEALTH ISSUES-AIR/WATER





HEALTH ISSUES-AIR/WATER

Why the need for careful water analysis? With special thanks to Angel, the following is most troubling:



Subject:…

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Posted on April 13, 2010 at 5:00pm — 1 Comment

daniel cohen

Aquifer Contamination-Part 2

Dear Shalers,

In Part 1 of the Aquifer Contamination discussion we explored the pro's & con's of the proposed drilling that is expected, and seemed to have come to several observations:

1) Drilling is good for the economy and produces jobs and revenue

2) Drilling techniques have been used for a long time, and the fracing process is non-hazardous

3) The drilling can cause contamination when proper procedures are not followed

4) The companies doing the drilling are not… Continue

Posted on March 21, 2010 at 5:30pm — 47 Comments

daniel cohen

Aquifer Contamination-Part 1

Dear Shalers,

I'm becoming more & more concerned about possible aquifer contamination, and wondered if we ought to be looking very carefully at what's going on.

N.Y.State has put an 18 month hold on the fracing process as it reviews the potential impact on its water resources/aquifer. Penn. has allowed the process to go on unchecked. Are we missing something here? Should we be more particular about how our leases are drafted to insure that we have some recourse should… Continue

Posted on January 19, 2010 at 2:00pm — 43 Comments

Comment Wall (11 comments)

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At 5:33pm on April 14, 2010, Keith Mauck (Site Publisher)Keith Mauck (Site Publisher) said…
Also, all of your activity is listed to the left on your page...
At 5:31pm on April 14, 2010, Keith Mauck (Site Publisher)Keith Mauck (Site Publisher) said…
Hi Daniel,

One thing that helps if you tag the discussions. I try to go through and tag them if possible, but often it isn't. Tagging is what allows the search mechanism to pick it up.
At 7:55am on March 16, 2010, CarolynCarolyn said…
Dan: you seem like a really nice person and I thank you again for the voice of reason. I have to quit this website. I am living with the nightmare of gas drilling but I guess the people who love it just have not been to Dimock. Sadly they will see in time what gas drilling really means for beautiful rural Pennsylvania. Once the drillers go, if that ever happens, they will leave a lot of ruined land and waterways in their wake. Oh yes, but money is more important, i forgot.
At 2:57pm on March 11, 2010, CarolynCarolyn said…
One thing that has freaked me out is the hostility I have encountered on this website when I raise concerns about what is going on. I have been called stupid and unpatriotic. For caring about clean air, water and land? And wildlife? I have said it before; if one actually believes that gas drilling perfectly safe and everyone is going to get rich and live happily ever after,well, they are deluding themselves. Best to talk to folks out in the West who have lived through this already. I grew up in Pa and have seen what the coal mining did. How is this different? Furthermore, by focusing on more fossil fuel, which gas is, it converts to carbon dioxide, we lose time trying to develop better alternative energy sources. There are dozens of wells going up in the tiny hamlet of Dimock. Heavy truck traffic ruining roads, constant noise, stink in the air, former fields tarmacked over with containers with who know what inside, toxic diesel spills on both land and in the Susquehanna, not to mention individual water wells. And the DEP just keeps on issuing more permits.
At 12:41pm on January 26, 2010, daniel cohendaniel cohen said…
Dear Carolyn, thanks for the kind words and getting back to me. As a truth sayer, you will not permit yourself to quit. Nor should you. I've tried to carry on the search for clear talking, and have been spending some time on the blog site entitled "Aquifer Contamination". Please check it out if you haven't already done so. I don't know how to put a link into this place to get you to there, so it will be a bit of a hunt. Sorry for that.
At 7:49am on January 26, 2010, CarolynCarolyn said…
yours is only the second voice of reason I have heard on this website which I am convinced was set up by the gas industry. I should just quit but I cannot stand that so many untruths circulate around . I am living with the truth of gas drilling.
At 9:56pm on November 17, 2009, Francis L. Warder, Jr.Francis L. Warder, Jr. said…
Dan, I'm not accustomed to giving legal advice for free nor soliciting business on this site. If you are in Morgantown perhaps you should seek advice from a local attorney who devotes a fair amount of time to the oil and gas business. Stephen Shuman comes to mind and there are a few others, perhaps even one at the law school although I doubt you'll find anyone there conversant in the lease terms being offered presently in Mon County.
At 7:02pm on November 17, 2009, Francis L. Warder, Jr.Francis L. Warder, Jr. said…
That is fine if they want to share information about general terms of leases of which they have personal knowledge, but his question was about the validity of a lease signed only by the lessor. In doing so, he is asking a legal question which requires an informed response.
At 11:25am on October 6, 2009, Keith Mauck (Site Publisher)Keith Mauck (Site Publisher) said…
Welcome to GMS. I hope the site is a place for you to learn and contribute. I look forward to your participation. Be sure to check out the county groups to get plugged in to local site members.

best,

Keith
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