Replies to This Discussion

Permalink Reply by Mac Davis on March 6, 2010 at 11:13

1) Don't accept the offer.

2) If you ignore 1) be very careful. Some companies are sending out offers that make you think that you're going to get, for instance, $10,000, but if you read the fine print, you only get that amount of money under very limited (and extremely unlikely) conditions.

Permalink Reply by David on March 6, 2010 at 12:21

Mac is right, Read the fine print. There is usually wording to the effect that, based upon a prior period of production, they will pay up to $XXXX. But if there is little or no production, and payment is based upon production, you may be about to sell it for virtually nothing.

Permalink Reply by H1 on March 6, 2010 at 12:31

This is a very limited time that I wish the government would control (by approval process) of selling mineral rights. The elderly are taken advantage of and NOBODY does anything! I hate it.

Permalink Reply by N. J. H. on April 3, 2010 at 9:17

We received one today also. This one included an offer to pay us 36 times what revenue is being produces now. I hope many of the older people don't fall for this. Reminds me of the incident 10 years ago. People offered me $11,000.00 for my share of the interests, we said no and a few days later a check was in the mail box for $30,000.00 for only 6 months of production. So lets do it again.

Permalink Reply by H1 on April 3, 2010 at 13:55

Can someone post the letter. It is probably not illegal, but maybe local tv stations would do an awarness campaign.

Permalink Reply by H1 on April 3, 2010 at 14:08

I just read some online documents concerning this company. Somehow we need to get the news out about them and others. As stated in the articles, it is NOT illegal to do what they are doing. I am sure others are doing the same thing.

Permalink Reply by N. J. H. on April 3, 2010 at 16:46

This reminds me of a letter I received about 2 years ago. Some crawfish logo'd company would pay me $25.00 to be able to run Seismographic equipment on 1 acre of our land to assist Chesapeake Operating with their search and production of Minerals. If I had sold, they would have received everything that the 1 acre would produce. Meaning for the Production month of January 2010, they would have received $35.00. To tell you the truth, I wish the State could do more to increase our Royalty amounts. We were getting 1% of production with KCS / Petrohawk on one well. Now on another well they are paying us .77 % Maybe we need to form a Royalty Coalition. Where everyone in the Unit Acre is in agreement not to accept what's offered.

Permalink Reply by Spring Branch,mineral owner on April 3, 2010 at 20:23

Good Grief!

Permalink Reply by Explorer on April 4, 2010 at 2:21

N.J.H.,

The letter you received was a seismic permit to allow ingress/egress. You must not have read the permit. I'm not really sure how you could have came up with the conclusion you did from the permit. All it was is a permssion slip for the seismic contractor that was contracted to Chesapake (Dawson Geophysical) to enter and cross your property and conduct the seismic survey. You retain all of your minerals, surface rights and everything else.

DW

Permalink Reply by N. J. H. on April 4, 2010 at 3:57

No Siree David, this guy would retain all of the proceeds from that one acre. My Brother also received the same letter because we have a 30 / 10 acre split. He took it to an Attorney that he knows. The Attorney's comment was that it was not worth the paper it was printed on. The terms right of way or ingress / egress were not present.

Permalink Reply by Spring Branch,mineral owner on April 4, 2010 at 7:20

I agree with SEISMIC DAVID. Scan the letter from the crawfish logo company for our review.
Sounds kinda coincidental that Dawson Geophysics was paying $25 an acre for a seismic permit to do a shoot for Chesapeake some time back.

Permalink Reply by Explorer on April 4, 2010 at 11:50

The percentages listed on the permit were most likely referring to the percentage of the property that you own. The permits were under the name Cajun Exploration. Dawson Geophysical was the acquisition contractor and Chesapeake Energy was the client. Most likely, no equipment would have even been on your property due to the size. At most, a receiver line and/or geophones.

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