Wisgard LLC- Ashtabula County. Jefferson Twp, Dorset Twp Richmond Twp etc. Need info

 

Has anyone had any dealings with Wishgard?

 

Are there any other dealers like them out there in Ashtabula?

 

Are ther royalites and payments fair and comparable to others?

 

Is Wishgard a good company to go with?

 

Any and all info about the above would be greatly appreciated as I am new to the gas/oil

leasing arena.

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Permalink Reply by HB on December 15, 2011 at 5:53pm

Type "Wishgard" (or is it Wishguard ?) into the search box up in the right-hand corner of this page and read all about them.  Most people don't like them since they "lease-flippers". 

Permalink Reply by Finnbear on December 16, 2011 at 3:08am
Permalink Reply by TFP on December 15, 2011 at 6:02pm

My 2 cents is that Ashtabula county isnt a hot spot yet and that you should wait for the big guys to make the big offers when the time comes.   I am not an expert, just giving an opinion.

Permalink Reply by Finnbear on December 16, 2011 at 3:07am

Wishgard is a broker who comes into an area and sucks up a bunch of land cheap and early in the play and then flips that acreage to one of the oil and gas producers for a fat profit AND a % of YOUR royalty. If you sign with them you will have sold out too cheaply too soon and at not-so-great terms. Wait until some of the actual producers have boots on the ground in your area before you even consider leasing - unless you are just desperate for a little cash now.

Permalink Reply by Bill Simpson on December 17, 2011 at 12:49pm

Do you know of any other brokers in the area of Dorset/Jefferson/Richmond/Pierpont etc?

In your estimation what rates/royalty percentage should I look fair. I am being told that other big boys should follow Wishgard with better offers. Is this true?

The lease they sent is huge and full of lawyer verbiage. More that i care to understand. I know they are flippers but most of the companies who call you are the same leeches as they are. Are you in the same boat as me>

Thx

Bill

Permalink Reply by James Kerns on December 16, 2011 at 4:54am

Wishguard is working the southern Ashtabula, northern Trumbull, and eastern Geauga county area hard as of late. They are putting large ads in the local trader type weekly  papers and signs at major intersections. They are exactly as Finnbear states, very much like a swarm of locusts or feeding frenzy of sharks maybe would be a better comparison. Use caution when dealing with this type of operation, and realize they like to be the first to hit an area, they hit it hard and take no prisoners. They will loball you and take your land, all the while shaking your hand and smiling at you. Ask your attorney to look over anything before signing and check out the http://lookbeforeyoulease.wordpress.com website put together by Rural Action and Susi Rankis, an outstanding member and contributor on this site. Frankly i can not understand why this lookB4youlease is not getting more play here. Everyone should check out this site and spread the word about it, it is a valuable resource for the landowners. Good Luck

Permalink Reply by Bill Simpson on December 17, 2011 at 12:51pm

Have you been approached by Wishgard? Is $1600 an acre upfront plus 15% of the gross for royalties normal or less that others might offer?

This is all new to me and all I can do is read the net or send out notes like this.

Bill

Permalink Reply by Luke Perry on December 16, 2011 at 5:35pm

As I respect everyone's opinion, you cannot form your own until getting your own facts.  If you are questioning about Wishgard, take in consideration the posts here as well as contacting Wishgard yourself...then form your own...just a thought.

Permalink Reply by Jack Straw on December 16, 2011 at 5:51pm

I think HB provided great advice when they stated: "Type "Wishgard" into the search box up in the right-hand corner of this page and read all about them."

There are a lot of posts, from a lot of people.

All in my humble opinion.

One size fits most.

 

JS

Permalink Reply by Finnbear on December 18, 2011 at 3:13am

Just be sure if you decide to have any dealings with them to record everything they say for future reference. The story will change every time you have contact with them. Compare what they say to what they put in writing. Then RUN the other direction.

BTDT.

Permalink Reply by Luke Perry on December 18, 2011 at 5:15pm

Isn't that what a signed, notarized lease is for? Hold them legally liable for what is in the lease and make sure before you sign any lease, you should know what you are signing, don't be ignorant.

Permalink Reply by Finnbear on December 18, 2011 at 5:52pm

Yes. What is in the lease is all that you can expect to hold them to. Yes, you should know EXACTLY what you are signing. Unfortunately, many people trust the people presenting these leases and that the lease says what the presenter told them and sign anyway without verification or the benefit of outside expert counsel. With this company, my experience tells me they cannot be trusted because what they say continually changes and doesn't match what they put in writing.  I did research the document they presented until it was completely clear and came to the conclusion I could not do business with someone who could not get their story straight, not to mention that their lease leaves a LOT to be desired.

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