Comment

Comment by Casey O'Brien on February 19, 2012 at 3:56pm

James,

 

Just wondering if you agreed to pay microsoft a certain percentage for the use of the windows software program (your retirement plan may even own their stock) even though they did the work back during the 80's - and you may only own a few computers rather than a company who has paid them hundreds of times for each of their employees computers.  Just sayin - that is pretty standard capitalism.

Comment by john p halloran on February 19, 2012 at 3:53pm

I also think the flat fee is better,would rather see a flat fee per member,being we are a group of equals with same lease no matter how much acreage ,say 250 per member.although a percentage based fee gives our negotiator more incentive to get us the highest possible bonus !!!

Comment by James Kerns on February 19, 2012 at 3:49pm

Hi Mark, A flat per acre fee is more agreable i guess, than high percentage fee's, but would that take the incentive out of working hard for the group.

I think 2% is a good fee, i mean hey we are already used to 2% milk, so why not.

Comment by James Kerns on February 19, 2012 at 3:26pm

Hello to all, Bill, I also attended a meeting of and for the F&M Landowners Group #2 ( the Washington Lawyers), and just want to clear up a few things to maybe help and to avoid any confusion, i did ask them specific questions concerning some of their vague representations. The meeting was the one in Cortland, OH (Trumbull county), on Thursday Feb.16th..

Their literature makes vague representations and they led the meeting with mentioning those same points, so i asked them quite specifically and in plain language, they answered in more vague terms as most lawyers will do, even when pressed to be specific, they were vague and even tried to lead the discussion away from my questions.

My questions were these, and their answers are not direct quotes, they are from my notes made at the meeting and to the best of my memeory;

Question: In your presentation you make mention of Water Testing and Royalty Management, along with other continuing landowner events and information. Specifically, do you have a water testing program in place with a third party vendor and do you represent us in the event of a water quality issue, as a paid up service, as part of the package deal, inclusive of the 8% fee of and from our advance money.

Answer: NO, we would be there to assist you for an additional fee, but the 8% fee only covers services rendered up to the day you get paid and we get paid.

Question: Again you made mention of Royaltry Management as a service you offer. Do you offer Royalty Audits and assistance as a paid up service as part of your 8% fee.

Answer: NO, we can assist you in these and other matters for additional fee's. We do however offer many educational materials as part of our service and sometimes third party vendors may offer to make presentations to our groups in order to promote their business's.

Yeah, well the county public libraries also offer many educational materials, and i do believe they are free to the public. Most libraries have computers available to patrons, and the internet has great access to educational materials as well.

Question: Your fee is 8% of our advance rentals"Bonus Payment" money, correct (yes). What do you do for me if i own 100 acres, that involves more effort on your part, than you do for the next guy that owns forty acres? What i mean is the largest part of your work is in producing a good lease, you did that once, and use the same one for all the groups you represent. You make efforts to find a Lessee, for us but it requires no more effort for any one person in the group, than for the group as a whole. Would it not be more attractive to us who own the larger acreage's to charge a flat fee per member?

Answer: (Very Weak) some of our addendums are of no use to the members who own 5 acres, but are important to those of you who own 100 acres.( ???? What the F? is that!)

You guys know me, i dont write cute and slightly humorous attention grabbing and mildly prophetic stories like Ron E., when i chime in it's straight and to the point. I strongly believe in landowner groups, you know where i stand on most of the issues here and if you read my post's you know what kind of man i am. I dont want to argue with anyone here, i dont have any reason to. when i chime in here it is in an attempt to help, only that. Landowner groups are the only sporting chance we have, but you need to control the agenda, and the fees, as well as be firm and realistic in what you are asking for from the O&G company's. You have the power, you have what they want, stand up and be strong. Be just, but be firm. The market can be controlled by the one who has the goods, and the time to wait for the right buyer. These attorney's are asking outragous fees and need to have a reality check. Also most flippers should prob. be tarred and feathered and run out of the state. All my 2cents worth.

Best of Luck to All

Comment by Bill Simpson on February 19, 2012 at 10:33am

Buckeye charges less but it comes down to who you want to sign with and have representation down the road. Look at Wishgard and all the other flippers out there.
I also went to the Buckeye ALOV meeting in Andover and they are also very good.
I am signing with the first, best and safest offer out there.

Comment by john p halloran on February 19, 2012 at 10:23am

Buckeye charges 23/4 % !!

Comment by Bill Simpson on February 19, 2012 at 10:19am

I attended one of their meetings in Jefferson and feel they are very honest just like Buckeye Minerals ALOV. They only make money if you do. The lease looks fairly good (online if you want to look at it). If you sign with them you can get out just by sending an E-mail. This group is a law firm and they are very knowledgeable as they practice in Ohio and PA. They charge 8% of the signing bonus only. Everything else is all yours.

Comment by Dan on February 19, 2012 at 6:20am

 
Looks like it is the F&M Landowners Group #2 ( the Washington Lawyers)

Comment by brynmore on February 19, 2012 at 5:02am

might anyone know what group or organization  is putting the o&g meeting on that is at jefferson community center on the 23rd at 630?thanks

Comment by Dan on February 8, 2012 at 1:33pm

There is a ton of old leases in the county as well as HBP acreage and with the size of the county it's going to be a big job getting all this figured out.  They are doing big time seismic testing north of Rt 6 and that land is held by Enervest. Might not be as many free acres as you think in the county.

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