Replies to This Discussion

Permalink Reply by randall gottus on February 11, 2012 at 10:47am

...regarding M P Law....I have some land in southern part of Venango county, but unable to attend the meeting..is there a phone number or e mail?

Permalink Reply by Jim Litwinowicz on February 11, 2012 at 10:50am

email me at landownerslease@hotmail.com

Put in email what township and how many acres.

Permalink Reply by Brian on February 11, 2012 at 10:55am

What township do you live in Randall?

Permalink Reply by randall gottus on February 12, 2012 at 4:42am

...Brian,  I have land in clinton and irwin twp.

Permalink Reply by RichR on February 12, 2012 at 2:16am

Do you mean Franklin Quality Inn?

Permalink Reply by Jim Litwinowicz on February 12, 2012 at 3:50am

Yes, the Quality Inn in beautiful downtown Franklin

Permalink Reply by Jim Litwinowicz on February 12, 2012 at 3:51am

Oops, that should be Quality Inn

Permalink Reply by Jason Bablak on February 12, 2012 at 4:15am

What part of Venango County are you looking to include?

Permalink Reply by Jim Litwinowicz on February 12, 2012 at 4:19am

Not limited to any one area. We want to get as many acres as possible so as to attract new players to the area. The more competition means better numbers and lease terms for all.

Permalink Reply by randall gottus on February 12, 2012 at 5:04am

Jim, I have a question....If you live in one part of town and have vacant land in  another location, and I do know that the home owners insurance that you have has a clause in it extending liability insurance to any vacant lands that you own as long as there is no structure on it, and they recommend posting it with signs. But lots of insurance companies are saying that if you get a gas lease on that vacant land we will no longer honor that extended liability insurance that extends from your homeowners policy to that vacant land. I explained to them that just because I get a gas lease on the land, does not mean there is going too be any activity such as drilling , pipes, etc. There may be no activity for years. There is a difference between active and inactive. But they do not see the difference. Another insurance company said that since you will get the bonus money that means you made money on that land and we therefore will no longer cover that land. PEOPLE NEED TO TALK TO THEIR INSURANCE AGENTS AND GET SOMETHING IN WRITING. ...anybody have any input, please share.

Permalink Reply by Jim Litwinowicz on February 12, 2012 at 5:21am

Part of the lease we negotiated for my group stated that not only will the company hold the landowner harmless but they must also indemnify the owner and have them named as an additional insured on their liability coverage. This should help the insurance companies realize they are taking no additional risks when a parcel is leased. But I am neither an attorney nor an insurance agent.

If they say you are making money off the land and it is no longer covered by homeowners, that is a different issue. It may be feasible to get a separate policy at a low cost since the gas company will be liable for anything arising out of their operations.  I would suggest you ask the attorneys that will running the meeting about this issue and any others you may have.

Permalink Reply by randall gottus on February 12, 2012 at 5:52am

...yes, I  already knew that you were not an attorney or an agent, but I was just asking because it appears that the insurance industry is kind of fragmented at this time, because I keep getting a different response from different companies. I would like to believe that they will continue to honor that extended liabilty insurance from your homeowners policy to vacant land that has a GAS LEASE on it, until there becomes somekind of activity on that vacant land such as drilling pipes, etc. ***IF ANYONE ELSE HAS ANY INFORMATION REGARDING THIS ISSUE, PLEASE SHARE.

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