Replies to This Discussion

Permalink Reply by getoverit on February 13, 2009 at 13:38

Thanks, parker. I'll keep everyone posted on what happens. =)

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Permalink Reply by Todd M. Baker on February 10, 2009 at 18:07

Kay:

Why do you say "8 new wells soon"? Just wondering how you arrived at that number.

Also, and I am not picking on you by any means, but your specifics prove the point that royalty is the only thing that really matters. For most people the bonus money is split between 2 things-taxes and spending money. The "stuff" that folks spend the money on and the taxes to pay will very soon disperse the bonus money. "Easy Come- Easy Go". Only the royalty will last any appreciable time and hopefully will be used for education of the next generation or investments, also for the next generation.

Unfortunately, most people are caught up in instant gratification and in a few years they look back and say " I wish I had that to do over again". I hope they have the chance.

TMB

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Permalink Reply by Kay DS1 on February 11, 2009 at 2:11

The company we leased with has applied for 8 new wells in our sections.
As far as the lease monies/royalties are concerned. This old grandma spent the lease money on herself and her hubby (and set aside tax money); BUT I have been receiving royalties for many years on exsisting well, and DO have a trust set up for my grandchildren's education with that money. That will continue to grow as the royalties grow, however a trip now and then is not out of the question.

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Permalink Reply by Cathaus on February 11, 2009 at 2:48

From one old Grandma to another, I say good for you. You and your husband should be enjoying your windfall. We hope that we will be able to leave money for both our children and our grandchildren when my husband and I DEPART this world. However, we will not sacrifice our enjoyment and pleasure to ensure that the ones that never worked a day to pay for our land are "taken care of" when we are gone. If that sounds selfish------------guilty as charged!

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Permalink Reply by Kay DS1 on February 11, 2009 at 3:33

Me too Cathaus!

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Permalink Reply by Kay DS1 on February 11, 2009 at 3:35

Todd, I have no regrets, and I won't. You only have one life, and I am going to live it. Instant gratification is pretty satisfying every now and then.

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Permalink Reply by Rod B. on February 11, 2009 at 11:57

GoshDarn,
Why should we give these people 75% of our minerals that belong to us? I understand the expense and risk that are involved. Once we sign these rights over to them, it's theirs forever, right? I have worked for O&G operators for years. I have never understood why people give them so much. Can you enlighten me?

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Permalink Reply by BirdDawg, plain ole' idiot on February 11, 2009 at 16:42

GD,
Gotta agree with that. If somebody wants to risk 8 or 10 million dollars so I can make 25%, I'm tickled.

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Permalink Reply by Jay Murrell on February 11, 2009 at 15:40

Hi Rodney:

You aren't giving them anything. They want to pay you for the right to explore for your minerals without risk to you.

But, hey, all of that doesn't really matter though cause its pretty clear from your posts that you (and some of the other folks on this site) are trying to figure out what it is going to cost to take a free ride on the operator's dollar. There ain't no law say you can't ...jump in, grab as much of that bull's horn as you dare. It might not be too much fun, but it will darn sure be an education for you.

In three or four years, if they make a well this year, I hope you will get back to us and tell us how it worked out, assuming its over in three or four years, this really could be a five, six (or more) year project for you and your brothers.


Best,

Jay Murrell

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Permalink Reply by Jay Murrell on February 14, 2009 at 14:48

KB

How many lawsuits have you been personlly involved in where you were paying the bills?

Wondering:

Jay

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Permalink Reply by sesport on February 14, 2009 at 4:55

JK - I see you & I have been educated in the same school ... of thought. LOL Personally, I don't have the time to be persuing the lawsuit nor the inclination to fund it just to have it "settle." Good to see you back. Ends up being an expensive education, doesn't it?

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Permalink Reply by M. Mcwilliams on February 14, 2009 at 9:54

Good point, KB. And maybe the key to this will be a joinder of parties in any action to recover proceeds. People are finding it much easier to connect with one another these days, due to resources found on the internet, and groups like Kassi's have shown that there's a strength in numbers. It doesn't have to be one lone mineral owner fighting the goliath.

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