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Permalink Reply by Len Bywaters on January 11, 2011 at 2:26am

A friend of mine who lives near West Point (in Columbiana county) signed with DPS Penn over 3 months ago and he has not received his check yet either.  He signed his 15 acres for $2500/ac with 15% and no surface operations.  They had leased everything around him and needed his to complete the 640 acres.  He called DPS and was told the check should be coming soon.  Who knows??

Permalink Reply by Vinchenzo on January 11, 2011 at 4:45am

Thanks for your response Len...  I called as well and they had 90 BUSINESS days to send my bonus check.  This excludes holidays and weekends, and adds more than a month in actual time onto the due date for my bonus payment.

 

The devil in the details...

Permalink Reply by John Yaskanich on January 11, 2011 at 1:04pm

Yes;  I signed in September and I got my check in just 60 days, but I had an attorney maybee that helped.  I also did not sign for the moon and and the stars.; but my royalty percentage was fair and it identified both oil and gas percentages.  Be careful of the word net.  Net at the wellhead or the supplier? And what about leaks along the way;there are sure to be some; and it is documented as a subtraction from your percentage.  So in summaary Net is never exactly Net  Try to find a no deduction formula/But I doubt that any gas company will give you one.  My advise is that time is of the essence.