We are being asked to sign this anyone have any advice on what to look for?

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Unless they own some of the unit outright and don't have to pay royalties on that part of the unit.

In addition to the above comments, I would add that you may want to have the property surveyed in the interest of separating the land that will be affected.

This is one way to leave open the option if a mortgage is ever needed.

Just a thought..

Thanks for all ideas, we will talk to out atty this week and get it taken care of.  We paid for a survey at the very beginning of this process. 

I have grown to hate oil & gas companies over the last 32 years of owning land with Clinton wells. My case may be special because I consider the land as sacred and special to me, my family and future generations. These O/G companies have no pulse, they are not human, they are crooks who will lie to your face and assume you are a schmuck. My basic maintenance requests have been rejected outright, not to mention any bigger concerns. I had these old leases looked at by approx 14 various lawyers over many years. I have been fighting these buggers for a long time. The vast majority of these lawyers were supposed "oil & gas" guys, one of them is very famous for representing large landowner groups. Only the last 2 were of the strong opinion that one of the leases is/was written as perpetual and that the other was not fully developed (case law established many years ago in Ohio). I convinced one of them to review it under the light of perpetuality, he is a nice and very smart O/G lawyer that sees it my way now, he wants to help me, but is limited by the firm he is a partner in (long story).


One of the recent perpetual rulings was worked on and won by a plaintiffs' lawyer in Akron, Rick Zurz. He is now so busy he never returned my call, and I know him. In plain English, and not to denigrate his fine work in any way, he has made a fine living for many years as a distinguished ambulance chaser. And one who has recently filed a class action suit on behalf of 700 landowners, imagine that pay day!

My point in this long winded diatribe; you are dealing with schools of sharks that will eat you alive, they will eat your lawyer alive, they will eat every scrap of meat that falls into the water, and then they will swim across or under your land doing whatever the heck they want  for the next 40 years or more. These horrible O/G companies are the equivalent of the anti-Christ in business. 


Having a lawyer does not mean you will be well served. Having a hungry shark on your side, one who has considerable skin in the game, is probably the only way to win. 


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