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Permalink Reply by Jamotom on December 13, 2011 at 8:32pm

Work with an attorney or a professional who understands O&G leasing first & foremost. Have the bonus money escrowed in your lawyer's acct. before the executed contract is given to the lessee. Likewise, in the body of the lease concerning payments of any kind have the terms spelled out so as not to favor the lessee...such as putting the onus of collection & notification of non performance on the lessor.

 

I firmly believe that anyone who signs without knowledgeable representation be it a lawyer or someone with similar expertise is going to come out on the short end. And dont go to your family lawyer if they have no O&G experience.  

These contract are big business, and should be treated as such.

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