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Permalink Reply by A. Hunter on January 21, 2013 at 8:42am

I would be very cautious here, IMO  this is Consol/CNX who signed leases in Mid September with the Switzerland group 

      I'm told the 120 days for the Switzerland groups payment time was up last week,  the title work/due diligence is all done & yet not 1 single member of the group has been paid by Consol and are getting no answers except they can pay in another 30 days even though the lease calls for payment in 120 days and no one can get answers on why delayed or when or if will be paid? I can't understand why they continue to try add acreage when they haven't paid the landowners that signed leases with them and payment is past due.

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Permalink Reply by A. Hunter on January 21, 2013 at 3:02pm

yes most the people I have spoken to are sending in the letter to notify they are in Default,

 Fang F Fang, my question is rhetorical why (Keep signing acreage) when your alienating land owners by signing leases that say payment is due in 120 days and telling the landowners you will be paid in 120 days and yes there is a clause that says you must notify them that the 120 days are up and they are in default and then they get another 30 days to pay, but the reason or should I say understanding for that is if issues with clearing titlles which I hear is all completed by the land company,

 This Doesn't speak well for a long lease relationship when it appears to the landowner they have already broken the lease by not paying timely, Here in Monroe county several other o&G companies signed large groups and paid in under 120 days in fact Eclipse has paid at least 3 groups in last yr in less than the 120 day payment window and even responded to landowners on here?  Lessors calling Consol are getting no response on reason late or when/if will be paid.

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Permalink Reply by Jack Straw on January 21, 2013 at 3:24pm

RE: "As time moves on land owners who have not signed will be able to compare the actions of all these companies and choose the most reputable. That is why this site, and discussions such as this are important. They are irreplaceable resources."

Well stated Fang.

People should tell their friends, neighbors, anyone that they meet on the street, etc. about this site.

I am going to print out the site web adress on card stock and carry a few in my wallet to hand out.

This site is a unique (and free) resource where people can get the type of news, recommendations, advice, assistance and knowledge that otherwise they would either need to pay for or otherwise would be unavailable to them.

This site does not altogether "level the playing field"; but, goes a long way in helping.

 

All IMHO,

                 JS

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