Legal Question

I Signed a lease  Feb 1,2014  with a land group. The lease stated they have 120 days to pay. They have not payed. WHen I made contact with company the guy told me it is 120 day from when they received it. He said they didn't receive it until March 24.

The lease does have the language that bonus will be payed after lease is received.  The memorandum states lthat ease was executed Feb 2, 2014 but it was signed by the dude running the landgroup not the company.

Is it from the date signed or the date they received it??? The wording in the lease seems arbitrary because they could say they received it anytime.

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Permalink Reply by Dexter Green on July 15, 2014 at 4:28pm

If the lease spells out when the clock starts ticking then that is the legally binding date.  However, can they prove that they received the lease on March 24?  Do they have a paper trail that shows that as the date of receipt?

Permalink Reply by adam sorell on July 15, 2014 at 11:25pm

I don't know Dexter if they have proof but i have the landman on my phone message stating that he didn't receive it until March 25. JUly 25  is just a few days away anyway. The lease read 120 days. Didn't say business days or otherwise.

Permalink Reply by rmc on July 16, 2014 at 12:59am
Was this Rice Energy?
Permalink Reply by Dexter Green on July 16, 2014 at 3:11am

Adam,

That's frustrating.  And if this is how they treat you during the relatively simple phase of things (leasing is significantly easier than production) then one can only imagine how much of a fight you'll have on your hands if something were to go wrong in the future on the production end.

Permalink Reply by adam sorell on July 16, 2014 at 11:18am

Great River Energy. The person i spoke to tried to play it like he didn't know about the addendum. The Addendum is nice but there no reference to Great River Energy on any of it. I wonder if they would try to omit it.

Yes i didn't know anything when i signed it . I thought having the ex Chesapeake CEO behind it was a good thing.

I feel more secure if it was with Rice or Gulfport because they have local offices. Great River or AEP has nothing which concerns me.

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