Lensman & Associates LTD

Has anyone had any dealings with Lensman & Associates out of Canton OH?  It seems they are working on a deal in Monroe County, but wont reveal the gas company or show the lease until you sign a "Letter of Engagement"

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Permalink Reply by jett on August 19, 2013 at 5:14am

What terms are in the "letter of engagement"?

Permalink Reply by Silver Dollar on August 19, 2013 at 5:43am

Letter Of Engagement

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Permalink Reply by Garfield on August 19, 2013 at 5:24am

the last two "Letters of Intent" or "Letters of Engagement" were people who didn't even HAVE a Lease to Present.. much less for the landowners to sign!

NEVER EVER.. sign a letter of engagement!

They attempt to tie up large amounts of acreage.. so they can close a big deal with the oil companies and they'll throw the landowners under the bus.. especially since the oil companies are the ones paying the attorneys!

Who is paying is who they're loyal to and that's the truth. I've seen few straight up attorneys.

Most have leases composed by oil companies containing disguised clauses that steal from the landowners who aren't well informed and who fail to hire good attorneys!

Honest people tend to trust others, and in this situation you can't trust the companies or the attorneys.

Get your own oil and gas attorney to look over your contract BEFORE signing.

Permalink Reply by Silver Dollar on August 19, 2013 at 5:49am

They claim that this company pays 20% gross, but after talking to them they tell you there is a Market Enhancement Clause.  They say if you wouldn't get a better price after it was enhanced then you would get the actual gross at the well head.  Which ever is the higher price.

Permalink Reply by Tom on August 19, 2013 at 6:11am

I have not been impressed with Lensman at all they were hired by EMLO to market their landowner group acreage, they sold us based on a deal they had just closed in Belmont county (see Lensman in Belmont & Monroe county sites)  that deal ended up being with a flipper in AZ that had no money & after 6 months no one was paid, they were fired by EMLO after they were found to not be forthcoming with info seemed to be deceitful and ended up with a piggy back deal on another groups deal for a small percentage of the group & a joke of an offer at $500 per acre! after the group fired them they leased without attorneys at $5250 per acre & 20% gross royalty with a very landowner friendly lease!

Permalink Reply by Frank Nesmith on August 19, 2013 at 6:50am

I smell Aubrey McClendon here.

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