Replies to This Discussion

Permalink Reply by Gas Baron on November 10, 2008 at 14:53

Wow you would think that a Man (Kevin McCotter) in his position would have reviewed this situation before the date "Today" when over 750 landowners Drafts start coming due

I was told that Mr Larson explaigned to Mr McCotter & JPD Energy well in advance that the Greenwood Group members would be there to see if todays 4 landowners got paid
How hard is it to glance over 4 documents

• ▶ Reply

Permalink Reply by Rachel A. Hassell on November 10, 2008 at 14:55

updated news: evidentally some individual landowners in the greenwood group were pulled to the side (the ones who had their deliverables turned in, or no mortgages) and were told--one--that the check would be at their bank this thursday and another one my assistant been in contact that his would be funded by the 18th. I just am not buying off on them funding an expired draft---why would they?? they were told no to extensions, were told in writing that if the drafts expired, that leases and w9's would be returned and they would NOT be getting paid. I don't know if this was someone at JPD, Community bank, or chk that pulled this "group" to the side. this is the latest information that i have received....

• ▶ Reply

Permalink Reply by Snake Stewart on November 10, 2008 at 16:22

That , Mr. Krow, wouldnt make for exciting news coverage tho.
A candlelight vigile is far more newsworthy

• ▶ Reply

Permalink Reply by The_Baron on November 11, 2008 at 6:00

We once ran out of the bond we print drafts on. I had to cut up file folders to make due till my new box of bond came in.

We paid those drafts too.

Also, Somtimes title is a little rough and take s extra time. We have had drafts expire. We then pay direct by check if title is approved. But, we also make sure the lessor knows exactly where they stand. Somtimes in the case of family land they can shed some rays of sunshine on a cloudy title.

Permalink Reply by Rachel A. Hassell on November 10, 2008 at 15:01

I agree RJ. I've had so many people to tell me..."we don't need the money"...however, i guess to have that much slip thru your hands...??
the drama and the stress it has caused...it shouldn't be this way. This is what gives all other energy companies and landmen a bad name. For as long as this has been going on--a lil over a week--i would have thought someone would have had an idea about something. If JPD is who told this "group" of gwood residents that they would be funded after draft expiration--I wonder if anyone walked out with that in writing? not to my knowledge. the only thing in writing at this point is---if draft expires, lease and w9 will be returned and you will NOT get paid. This letter was very point blank.

• ▶ Reply

Permalink Reply by RONNY on November 10, 2008 at 16:52

The next letter that comes will say they are still interested in leasing your minerals but at today's market conditions. I say never ever EVER accept one penny less than their last highest offer. Two can play this horsesh*t game. Just stick together so they can't pick you off one at a time. Hang tight, if CHK doesn't come back to the table someone will. This ain't no speculative game it's a sure bet. And at the next lease signing, demand a cashiers check. NO DRAFTS!! JMO.

• ▶ Reply

Permalink Reply by Gas Baron on November 10, 2008 at 17:30

Was on all 3 Local Channels again at 10

McCotter / Chesapeake blaming everything on JPD Energy

I see my $300 for "non disturbance form" fees going down the drain along with my Draft

never ever EVER accept one penny less than their last highest offer.

If they walk from this I will not settle for less than $30 & 30% in the future unless it is someone other than Chesapeake
Then maybe less

• ▶ Reply

Permalink Reply by MJS on November 10, 2008 at 18:53

The good news is Greenwood is sitting on top of a goldmine and one day it will payoff. CHK & JPD are in the drilling business and they cannot survive without leases. Today's gathering downtown signaled the days of drafts and scams are over and what's left appears to be reputations that are not worth doing business with. However it's too early to judge just yet and besides tomorrow is Veterans Day so focus on honoring Veterans, and on Wednesday maybe JPD & CHK will come around.

• ▶ Reply

Permalink Reply by RJ on November 11, 2008 at 2:04

I for one dont expect JPD or CHK to pay any of the Drafts. Its my opinion that they have known for several days that the Drafts would not be honored. There was no reason for the mortgage papers to be required other than to stall and use as an out. I think the people in Greewood have been lied to for days if not weeks by JPD and CHK. JPD seemed to be trying to do all they could to make everyone feel better but in the end it seems they are CHKs LAP DOG. CHK wants the drafts to expire so they are off the hook. ANYONE who deals with JPD or CHK in the future is taking a huge RISK.

• ▶ Reply

Permalink Reply by The_Baron on November 11, 2008 at 5:41

I have always required some form of subordination on a mortgaged property. It is important to protect the rights of a lessee in event of a tax sale, foreclosure, etc.

However, I find it disturbing that they waited till the last minute. This should have been brought up at lease signing.

• ▶ Reply

Permalink Reply by Richard Shreve Island on November 11, 2008 at 3:56

Check out this October 1st new article:

http://www.tradingmarkets.com/.site/news/Stock%20News/1915637/

"Exxon sells Barnett Shale holdings to Chesapeake"

How do you think Chesapeake will handle thier business dealings with EXXON? Will it be like the poor folks in Greenwood?

• ▶ Reply

Permalink Reply by Janny8 on November 11, 2008 at 4:21

I was fasinated with the Power Rating. Four out of ten for the curent stock and 2 out of 10 for the future. OUCH

• ▶ Reply

• ‹ Previous
• 1
• 2
• 3
• 4
• 5
• 6
• …
• 10
• Next ›
• Page