PetroEdge Energy and prospective leases in Harrison County, WV

Does anyone have any experience with them? 

I live in Wisconsin and on March 2nd I was contacted by one of the company's representatives because they want to drill in the Sardis district of Harrison County, WV and apparently, I own a small portion of the mineral rights of one of the properties.

I received a copy of the proposed lease 2 weeks later and have concerns about it as well as the issue of past due property taxes I may owe.  I was told by the county assessor's office to request a copy of the company's certified title to determine the status of the property taxes, but the 'landman' refused saying it is the company's work product. He also told me it was the opinion of the company's attorney that I would only owe property taxes back to the time I found out about my ownership of the mineral rights - I wouldn't have to pay past years.  Knowing I am somewhat reluctant, he said if I didn't want to sign the lease, the company could go to court and take ownership.

I received an email last week from the 'landman' w/ an affidavit he wanted me to sign saying my father died w/o a will, etc, etc.  I responded that I was only nine years old when my father died and have no direct knowledge of any of those things. I also told him I spoke to the assessor's office again and the person I spoke w/ was surpised PetroEdge wouldn't provide me a copy of the certified title since Dominion and some of the other large companies do that - and that I would owe past taxes if they haven't already been paid.  I told him although it may be a small amount, it will most likely be more than the offered signing payment.  I also told him I have concerns about the lease, such as why oil & gas are in the same lease, the pooling provision and the many ways the lease can be extended by the company.... I also told him I would like the company to reconsider its offer (signing payment as well as royalty %)... my email to him was last Wednesday and I haven't heard from him.  Now I am wondering if the company is going to go to Court to take ownership of my small portion of the mineral rights.

Any insight would be very much appreciated!

 

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Comment by M. A.Hughes on May 18, 2012 at 1:27pm

I'm certainly sorry to have my previous comment take up so much space--I don't know why it jumped to such large size!

Comment by M. A.Hughes on May 18, 2012 at 1:25pm

Deborah, we had a similiar situation with unpaid taxes on 8.78 acres we acquired in Braxton Co. as a result of a tax lien auction.  We initially thought we had only received title to the surface but then discovered a bonus--we also received 100% of the mineral rights except for coal which had been previously sold.  We researched and found that taxes hadn't been paid in forever.  The Assessor was familiar with Certificate of Re-entry but not initial entry, so she called the State Auditor and they said to use the same form.  It had to be signed by the Assessor and the Clerk of the County Court.  If the officials in your county aren't familiar with this form, they should call the State Auditor in Charleston.  We just received our Statement of Delinquent Taxes from the State Auditor's Office:  $10.00 for a Certificate Fee, $1.49 for taxes for 2002-2011 (they only go back 10 years) and $.82 interest for a total of $12.31 which is certainly cheap enough!  Do you have 100% interest; if not, have you determined who else has the rest?  Maybe you can file as a group of "John or Jane Doe" heirs.  BUT, if it's going to take too long to determine who the others are and how to contact them, it might be better to forge on alone and make sure you are covered.  Check also to see if you need to file an Affidavit of Heirship for __________________, Deceased with the Clerk of Court.  We also live out of state but my husband is from there so we visit frequently.  This is our first adventure in WV property and mineral rights ownership and it's a lot to get your mind around in a short time! 

Comment by JK on May 17, 2012 at 5:49am

Deborah,

If you didn't own the mineral rights then they wouldn't be contacting you at all.

You must pay those past taxes as fast as you can!!!!!

I understand from GMS that oil and gas NEED to be seperated in any lease and also you will need clauses in your lease of specific depths of each formation. SO important!!!!

You need an attorney!

Good luck! Let us know what happens!

Comment by E. MACAY on May 17, 2012 at 4:59am

Deborah,

I have just sent you a friend invitation- perhaps I can answer your Harrison County questions.  You need to sort this out fast.  Come back to me and maybe we can speak.  E. M.

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