Replies to This Discussion

Permalink Reply by 09bp5t05myjl3 on September 30, 2011 at 1:00pm

Why are taxes amost Guaranteed to increase in 2012 for both Federal & state! I think it would be political suicide to raise taxes in an election year! Think I would rather take that chance get the bonus after Dec 31st & have 15 months to do tax planning  till 4/2013 vs handing it over to the govt  4/15/2012

Permalink Reply by Finnbear on September 30, 2011 at 1:16pm

What are the fees involved? What does the lease look like? What about land above the coal mines?
Who is warranting titles in that short amount of time?

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

What are the conditions of their representation agreement? Is it exclusive and what is the term?
There is definitely an issue with coal in Belmont. Ask the group's leaders about it. If they are not aware of the issues with coal land and can't give you definitive answers about it then you should question their capabilities. Have they negotiated any group leases recently in this play? What is their reason/motivation for forming this group - the potential profit for the leaders or their proven ability to successfully negotiate landowner-friendly leases? Do they have already established high-level contacts within the industry? Anyone can gather a group of people together but having the knowledge of the industry and the established contacts with producers is what it takes to do this successfully. Those who are already in groups in the county are still waiting because these things take time to do properly. We have been diligently working on this for most of a year to be sure it is done properly, not in haste. You generally only get one chance to sell a lease so it is imperative that you get it right the first time. You will have to live with it for the rest of your life and probably your children's and you don't want to be sorry you rushed 5 years from now. The Belmont people who rushed in the past ended up with so-so Wishgard leases at $1840/acre and 15%. Be very aware of what you are getting involved with when you sign up with anyone.Ask LOTS of questions and be sure they are representing your best interest and not their's.

Permalink Reply by Marc on October 3, 2011 at 6:09pm

KWGD doesnt force anyone to sign anything FYI, at least not in Guernsey County. If anybody thinks that they haven't read the letter of engagement very carefully.

Permalink Reply by psychosid on October 4, 2011 at 4:55am

That's nice to know.  The agreement letter Mr. Vaughan sent only stated you could withdraw before the bid date and didn't have language where a landowner could get out after the bids were received.  I thought that was very odd.

Permalink Reply by AT on October 4, 2011 at 5:24am

psychosid,
You obviously cannot read or have issues comprehending what you read. You might want to try and read and comprehend the KWGD engagement letter again.

Furthermore, what exactly is your objective on this site? It appears to me that you are either:
1.) disgruntled with groups in general,
2.) possibly jealous of what these groups are obtaining or trying to obtain, and/or
3.) attempting to induce fear and panic among the members of various groups with the hopes they will disband and their members will side you and whatever it is that you have up your sleeve (look up the definition of "terror" and "terrorism").

In one sentence you praise each of these groups and in the next sentence you slander them by spewing trash. This is my observation.

Permalink Reply by Mickgyver on October 4, 2011 at 10:45am

If you are not involved with that group then I am man enough to apologize to you for indicating my original statement which was  I would bet you are involved with them ,I did not directly accuse you of this . but this was only said because you also said you like to gamble. This  is all that I said , and as you no a gamble is not always a sure thing.  Furthermore if you have the education you speak of it does not make any other people less intelligent , many book smart people don't have the common sense of a mule so that means nothing as far as I am concerned, I never said anything about your intelligence  I just felt your 2 way posting never made sense .  You are either proud that you are in another group or you are not , Also if you are proud of this new group hang with it .Also if you have the connections you say you have you should not need a group of any sort to get a deal for yourself . If there is a leader or leaders that operate a group that has more detailed inside information to deal with the companies better than ours I would love to see the proof of such connections ,yet you need to review all of your posts from beginning to end , there is a lot of various comments that contradict a previous post. Now wothout any rude intent if you have such a decent education then you can easily see why I personally felt in one place you were commending our group , then you were making statements that anyone reading them would see as derogatory comments . Do what you like, promote who you wish , but just don't try to ruin a good thing with information that is only one sided for failure to know the whole truth. A good general never let's his battle plan details out to all his troops until the final assault is planned .

Permalink Reply by Finnbear on October 1, 2011 at 6:36am

4% of the ROYALTY makes you a lifelong business partner with Lensman & Assoc.
Are you sure it comes from the royalty or is it from the signing bonus?

Permalink Reply by Doc on October 8, 2011 at 3:02am

Very interesting. There was an approved law CE program recently held across the state on oil and gas law. Our attorney attended as a participant. When fees were dicussed it was the opinion of multiple attorneys on the panel that taking a % of the bonus payment or royalty was unethical. 

Permalink Reply by Mickgyver on October 8, 2011 at 3:26am

That is interesting tony .You would think that a normal reasonable fee would be plenty , Then once they have established a relationship they would probably have a lifetime client following for feeling they were treated fairly , Although some fees are higher , when that percentage is figured up it probably nets an attorney quite a bit more than some of the good old whiplash claims .And that comment is not directed at all attorneys .Some have much more knowledge in the area which we speak of . It is very nice to see people that have agreed to stay together for the common good of each other like the old family values that we sometimes only see when we watch the Waltons . I am proud to be allowed into a group which is run by people that will receive no fee what so ever when the deal is done, which consists of like minded people that have the care and forethought not to jump into the landmens traps of mis- information . God  Bless those willing to give much more than they get. (.Sorry I need to correct that) . Sometimes giving a little of yourself gets you more satisfaction than money can buy

Permalink Reply by psychosid on October 2, 2011 at 2:12am

I meant 4% of the signing bonus.  Sorry.

Permalink Reply by michael j belaj on October 2, 2011 at 2:47am

4 % X 4000 acres =160 acres X $4950.00 =$792,000.00 not a bad chunk of change! Michael J Belaj

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