Halcon pays record $6,100 per acre for 27,000 acres in Trumbull and Mahoning Co.

Todays Business Journal Headline

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Permalink Reply by William Otis on December 3, 2012 at 7:34am
I called the Trumbull County Recorder's Office today to inquire about our lease, which I discovered had been recorded with the incorrect Parcel ID. I have been trying to get some information on how to get this corrected from Shale Investment Fund, whom we signed with last June, but they are not responding, though I did receive a call (finally) from Felicia in the office (1-800-961-7954). She was supposed to get back to me last Friday. I haven't heard from her.

The Trumbull County Recorder's Office tells me that the word is out that Shale Investment Fund has not been paying, and are walking away from their obligations. This is not good news.

At their meetings in Hartford and Vernon Twp. last summer, they made a big point of the fact that, "We pay," and that BP was not paying. The Recorder's Office tells me that it is quite the opposite.

So, they may have shelled out a lot of money for land in Trumbull and Mahoning Co., but something stinks. I'm very disappointed. I feel like we have been cheated. We could have signed with BP and probably have been paid by now. It looks like we are just out of luck

Shale Investment Fund is not a credible company, apparently.
0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 3, 2012 at 3:04pm

"Shale Investment Fund is not a credible company, apparently."

I didn't know that they ever were.  Sorry that you were burned.  In what township is your land located?

Permalink Reply by richard perry on February 26, 2013 at 7:55am

same here in lordstown sign with them in aug 2012 didnt pay up

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on February 28, 2013 at 3:39am

Well now you have free and clear land, so you're ahead of the game.

Permalink Reply by William Otis on December 4, 2012 at 12:16am

We're in Vernon Twp., off Rt 88, just before you head up the hill to Greenville, PA.

Felicia at Shale Investment Fund finally called me back, but I missed the call. She left a message, stating that our lease was good till the end of this month (Dec 25, I think is the actual date), and that they were "still looking for a driller." That is laughable, as at both meetings that we attended last summer, one in Hartford, and one in Vernon, they told us that they had a driller (Halcon, we assumed). Besides, the name on the rig just over the state line, and not more than a mile from the back of our property, is "Halcon Phillips #1."

Felicia seemed to have forgotten that the reason I called in the first place was because our lease was incorrectly recorded with the wrong Parcel ID. I was trying to find out if and how that could be corrected. That was what she was supposed to be looking into for me. 

I wonder if anyone has actually received any payment from S.I.F.? We could have signed with someone else. S.I.F. was not the only letter we received back in June. We also had an offer to lease mineral rights from Carrizo, and of course we know BP was also working this area. I don't know if we still have an opportunity to sign with someone else, or if it is just too late. We have had our property tied up for six months and recieved nothing for it, but have also been prevented from signing with someone else because of our commitment to S.I.F. These people should be jailed!

 

Permalink Reply by Mark Dolezal on December 4, 2012 at 12:55am

William,

EGL has a number of Trumbull and Ashtabula Co. members. A true landowners group

Mark

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 9, 2012 at 2:14pm

This is why you don't sign up with fly by night organizations.

Permalink Reply by William Otis on December 19, 2012 at 11:31pm

How were we to know? They looked as good as anyone else at the time, and supposedly had paid at least a few people over in Fowler Township. The stories were in the paper.

Permalink Reply by Brenda Truchan on December 19, 2012 at 4:22am

We signed with Shale Investment Fund in June also and have not received any money. After several phone calls and emails they finally called, she said they would release us but no other companies are signing in Trumbull Co. Wish we never would have signed with SIF, now we aren't getting anything!

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 19, 2012 at 10:54am

Sorry to hear that, though the truth about SIF has been out there for a while now.

Permalink Reply by Mark Dolezal on December 19, 2012 at 4:36pm

Brenda.

Stay positive, I think you will find it was a blessing in diguise. Join a landowners group and be patient. You will be glad that SIF released you. Better days ahead

Permalink Reply by William Otis on December 19, 2012 at 11:34pm

The trouble with these land owner groups is that they want a chunk of your money, and at least a couple look like lawyer groups just out to get in on the action. "Sign with us ... we take x percent of your bonus, but we'll see that you get treated right." Sure.

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