Chesapeake fails to make lease payment extension due April 15, 2016 on ALOV contract dated April 15, 2011

We have 140 acres in Jefferson County Knox and Island Creek Twps. with Chespeake lease thru ALOV dated April 15, 2011.  Payment on three year extension was due April 15, 2016 but no payment has been made.  I think that they are playing games to delay until they get the seismic results from test run earlier this year.  For all intents and purposes the lease has been abrogated.  For you who are interested you can go through a procedure to record the broken lease.  Go to this web page for instructions:  http://www.crainscleveland.com/article/20150831/BLOGS05/150839981/o...

If Chesapeake is using our leases for collateral the loaning party should know that the leases are no longer valid which might bring them to the bargaining table.   

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1s7k1qp9wk1t7Permalink Reply by 1s7k1qp9wk1t7 on May 2, 2016 at 12:42pm

Hey...they renewed ME last Wednesday and the check was delivered certified on friday....the last day before expiration. ....make no mistake, they ARE renewing some leases...just depends where you are at....and they are NOT hurting right now....while the banks are shutting off credit to most of the industry chk had their revolver renewed and won't even be reviewed again until next year....Doug Lawler has this company dialed in and has made them a lean mean fighting machine....when oil and gas rise, and we all know they will, chk will be an atm machine....put your brain in gear BEFORE our put your yapper in motion Bub

Permalink Reply by Robert J. Smith on May 3, 2016 at 2:55am

You better look around danny.  Lawler and company are being sued right and left in Ohio and Pennsylvania.  The company is no friend of the Lessor so don't expect them to open an ATM just for you.  The company is lean and mean only because they are fighting all the law suits.  Like you said, put your brain in gear BEFORE you put your yapper in motion Bub.  

1s7k1qp9wk1t7Permalink Reply by 1s7k1qp9wk1t7 on May 3, 2016 at 3:25am

Boy are you naive....that's what pig lawyers do....they sue....pray someone doesn't ALLEGE something against you jim Bob and you don't find yourself on the hots eat someday....INNOCENT until PROVEN guilty buckwheat

Mike MurphyPermalink Reply by Mike Murphy on May 10, 2016 at 8:39am

Danny stop the name calling please

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on June 6, 2016 at 8:17am

JWE,

    Good for you.

Go to alov.us and copy the SURE 2012 lease towards the bottom of the front page, so you'll have one of the best leases in the Nation as a guide to write your own lease from. Use it with modifications, such as deleting the Arbitration Clause, next time someone wants to lease you property.

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