Replies to This Discussion

Permalink Reply by RAYMOND McELROY on September 14, 2011 at 9:57am

THE LEGALESE OR ATTORNEY SPEAK IN THIS AGREEMENT THAT YOU ALL ARE APPARENTLY MISSING IS IN THIS SENTENCE: (PENDING TITLE VERIFICATION AND APPROVAL OF LESSEE!) WITHOUT ACTUALLY SPECIFYING A DATE FOR THE LESSEE TO APPROVE PAYMENT, LESSEE CAN LEGALLY HOLD OFF ON PAYMENT INDEFINITELY!!  ASK YOUR ATTORNEY.. AND IN REGARDS TO THE GROSS ROYALTY CLAUSE: THEY SPECIFY THAT IS THE GROSS AFTER TRANSPORTATION FEES AND TAXES ARE DEDUCTED..   WE ARE WALKING ON A VERY LONG SLIPPERY SLOPE WHEN DEALING WITH ANY OIL COMPANY OR LANDSMAN, IN MY OPINION..

Permalink Reply by AT on September 14, 2011 at 10:17am

Raymond, You found a couple of those "hooks" hiding behind that $4950/ac. and 19% bait I referred to earlier in this discussion! There are many other problems with it also. The biggest has to do with the Pooled Production Unit Limit clause. Hint: one important word is missing.  ;-)

Permalink Reply by Shower Bath on September 14, 2011 at 10:51am

If you follow the posts from Pa./Marcellus on the main board, XTO/Exxon is adamant that their royalty is 15% net, and they supposedly won't negotiate that item. I realize this is a different Play and "wet gas/oil vs dry gas, but it is the same company. If the gross is computed after transportation and no tax (severance/ad volerem) addendum your royalty is more like 15 or 16%. Not a true "No Cost" lease for the landowner. A competent O&G attorney should review this lease for other trap doors.

Randy

Permalink Reply by Mark Allen on September 14, 2011 at 12:37pm

Do not sign until you have a guarantee that the company will sign and pay you in full,regardless of size or location. Basically the only way out,is title failure[non-ownership of minerals]why are people still blinded by money?    Sign up or else it will go away, from the time it was $50.00 til today fear tactics should not prevail,but there are still sheep to slaughter!

Unit size too large, another cherry pick has come.

Ask for changes, based on your consultant or attorneys recommendation.

Review-ask questions-review again,proof read with others,look for the misprints or the left out or's and of's,not to mention the left out addendums.

Slow to speak, swift to hear...ask questions again.

 

Raymond, do you still have your Athens acreage for sale?

  

Permalink Reply by Cathy Galbraith on September 19, 2011 at 1:27am

Has anyone heard of any news of additional wells to start in Harrison County beside the Buell and Jewett wells in the near future.  Also is there anymore talk about pipelines and refineries locally?

Permalink Reply by mark moll on September 19, 2011 at 5:02am

Cathy,

 

I don't think there have been any permits issued recently in Harrison.

As far as local refineries - I heard that Marathon in Canton has come to an agreement with CHK to build a truck offloading unit for oil and wetgas and CHK will deliver by truck and sell them product at a discount.

Permalink Reply by Al Cramblett on October 1, 2011 at 5:58am

I recently received information that there is a landowner group that is accepting applications from Harrison County landowners. Terms appear to be $5000 signing bonus with a 18.5% gross royalty. The lease is landowner friendly. The applications need to be completed no later than 4 October. For further information go to:

http://www.hcolg.org/LatestNews.html

Permalink Reply by porkchop on January 27, 2012 at 9:12am

Have you tried contacting Buckeye Energy or ALOV?

Permalink Reply by Mark Allen on January 27, 2012 at 2:13pm

get a hold of JRM

Permalink Reply by porkchop on January 28, 2012 at 3:47am

If you Google ALOV it will give you their website with names and contact info.

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