Replies to This Discussion

landownerPermalink Reply by Bud on February 24, 2010 at 9:55

This is a very bad deal. Tear it up and throw it away.

landownerPermalink Reply by Checkmateking on February 24, 2010 at 11:24

They should be put in prison in my honest opinion, how anyone could run an operation like that and sleep and night is beyond my comprehension. I guess thats what growing up with a decent family and morals will do to you. Now don't get me wrong, I love to make money on a great business deal, and I won't scruple to do whatever it takes to make my piece of the pie as large as possible, but this Cobra is borderline criminal in my opinion, attempting to prey on seniors and the otherwise ignorant/uneducated.

landownerPermalink Reply by Henry on February 24, 2010 at 11:25

Freddie,
Even if there is absolutely no activity today, why sell your minerals for a paltry $250? You never know what might pop up in 5 years.

landownerPermalink Reply by Bacon on February 24, 2010 at 11:33

Figure a decent Haynesville well in your area might generate around $200-300 an acre per month. According to Skip's Snapshot, half the sections in 18/11 have been HA unitized.

landownerPermalink Reply by Bobi Carr ("parker") on March 8, 2010 at 10:09

Rachel,

That figure is for your 25%.

Permalink Reply by S.H.M. on February 24, 2010 at 11:51

Freddie. Toss that check. Pronto!

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on February 24, 2010 at 11:56

freddie. Section 18 - 18N - 11W is under HA unit order to Samson Contour. One day I hope to find a recipient of a Cobra mail offer that is willing to speak to the media. IMO, the best way to inform the public regarding this kind of unethical solicitation would be an investigative television piece.

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on February 25, 2010 at 5:55

freddie. The unit order is an indication of Samson's interest in development of your section for Haynesville Shale. Samson forms a lot of Haynesville drilling & production units but doesn't drill many Haynesville wells. They are most active in this area of the play so they may end up operating your unit. If not they will likely designate another company as operator and participate as a Working Interest. Forming a drilling unit gives the company holding the order the right to pool all mineral interests within the boundaries of the unit and pay them their proportional share of production. A unit order is good for an indefinite period of time with no requirement for the drilling of wells. The terms of the leases in your section will probably dictate when drilling begins. Unit applications require notice letters to those on the Interested Party List (mineral and surface owners within the unit boundary and those outside but within 100') but well permits do not. Being out of state should not hinder your tracking the activity in and around your minerals. Go to the SONRIS Help Center Group here on GHS - http://www.gohaynesvilleshale.com/group/sonris_help_center and familiarize yourself with SONRIS Lite (state oil & gas database)
and join the Bossier Parish Group - http://www.gohaynesvilleshale.com/group/bossierparish and read through their archived discussions. Good Luck.

landownerPermalink Reply by DJG on February 24, 2010 at 14:19

It's very fitting that they have named their company after a deadly snake.

landownerPermalink Reply by David on February 24, 2010 at 15:24

What you will do if you cash the check is sell ALL of your mineral interests in the parish. My sister nearly sold hers a few years ago. She is very, very glad she didn't, given that wells on that property brought her close to $500,000.

A rule of thumb is to never, ever sell mineral rights. Not ever.

Permalink Reply by Aubrey C. Sanders, Jr. on February 24, 2010 at 17:43

I have seen many of these offers and even read the fine print a couple of times. They always include a statement to the effect that this offer includes any other lands you may own in the parish or county. I have had an untold number of calls from friends, relatives, etc. over the years about such offers and have even called the companies and asked them to stop sending them. I don't think any of my family has been bothered for about 5 years now. But, I know of people in North Shongaloo-Red Rock Field who fell for this offer and essentially gave their minerals away.

Personally, I will never sell mineral rights anywhere and I will not buy property that I don't get mineral rights with. It is despicable that there are such thieves out there.

By the way, I wonder if this Cobra is the company formerly owned by the Dillard Family from Little Rock. As in Dillard's Dept. Stores. I know that the heirs sold the company a few years back. That Cobra was a good company back then. I had some dealings with them. As far as I know they never tried to buy minerals, at least not in my area.

The company I was most familiar with trying to "buy" minerals from landowners had either Southwest or Southwestern in its name. Seems to me that I have read or heard of some connection between them and Cobra. Anybody know?

Oil & Gas ProPermalink Reply by Jeff Dillard on March 3, 2010 at 12:33

No relation. He is my deceased father. We have a company called Cobra Oil & Gas Corporation in Wichita Falls, Texas of which I am President. We are legit! Cobra Petroleum is not. See our website at cobraogc.com.

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