$1.00 check from W*******.

Not cashing it, but does this mean I can get out of the lease I signed in July? They were supposed to pay in 90 days... Suggestions please.

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Permalink Reply by Mirabelle Dictu on November 5, 2011 at 11:56am
Someone said that this had happened to some others and that they eventually were paid. Has anyone on here had this experience?
Permalink Reply by deron on November 11, 2011 at 4:41am

im in the same boat.  Wishgard did not pay in their 90 business day timeline.  Im not sure if I should wait it out or try to sign with another company for more money.  They were suppose to pay by Nov. 7th.  alot of people are signing leases and very few getting paid.  I would also like to know what to do

0l1a6laz7smpfPermalink Reply by 0l1a6laz7smpf on November 5, 2011 at 6:43pm

Hi Mirabelle,   Just happened to read your request for some help.   Sounds like you need someone to look at your lease.   I do not know for sure if D. Clark can handle it for you but he is very helpful here at gomarcellus.   You might give him a call.   Here is a recent discussion that he started and if you click on his profile page, his telephone number is there. 

http://gomarcellusshale.com/profiles/blogs/beware-of-marcellus-shal...

Permalink Reply by Mirabelle Dictu on November 6, 2011 at 5:22am
Thanks so much!
Permalink Reply by DAVID MORRIS on November 6, 2011 at 2:16pm
HI MIRABELLE Several neighbors and I are in the same situation.Of course we would like to renegotiate our leases based upon this "technical requirement" not being met in a timely manner.Would you please post any answers your research yields and I'll do the same.  Thanks Dave
Permalink Reply by Mirabelle Dictu on November 7, 2011 at 5:19am
Will do if I find out anything. One question I have is what groups are still accepting acreage in Guernsey county.
Permalink Reply by Nelson Roe on November 7, 2011 at 5:42am

Hi Mirabelle,

I believe that KWGD is still accepting for a little while longer if the acreage meets the criteria that Gulfport has set. 

Permalink Reply by DAVID MORRIS on December 8, 2011 at 1:01pm

 HI MIRABELLE

 Following up on your lease payment- Have you received anything yet? I have not -

                                                                                  dave morris

Permalink Reply by Adam Thomas on November 10, 2011 at 5:09am

The portion of the lease that is recorded is the memorandum.  On the memorandum, it says "For and in consideration of ONE Dollar($1.00) cash in hand paid, and other good and valuable consideration".  This is a formality since that portion of the lease is a matter of public record, it is common practice to write things up in this way so that every person that is looking for a hand out does not have knowledge of how much money someone just recieved.  It is very common anytime a large sum of money is transferred for example house purchased, land purchases or in this case, gas and oil leases.

The dollar check is just a formality so that the terms of the lease are followed.  You will recieve the money that was offered if/when your property clears chain of title.

Permalink Reply by Mirabelle Dictu on November 11, 2011 at 4:30am
They told me that the lease had been assigned to Gulfport and that I would be paid the first week in December...
Permalink Reply by dr j on November 11, 2011 at 6:52am

Mirabelle, 

 

You should be able to go to your County Recorder's office - or if your recorder has a good website - and see exactly if your lease has been recorded and to whom it is assigned.  

j 

Permalink Reply by ShaleAdvice (Steven C. Townsend) on November 12, 2011 at 3:10am

Most leases have a clause that puts the responsibility on you to provide notice of any default.  Then the company has 30-90 days to cure the deafualt.  I have run into this with several of my clients in Mercer County. 

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