Replies to This Discussion

Permalink Reply by Snake Stewart on August 28, 2008 at 16:22

Sorry, I only remember one with CPL on his name.

Permalink Reply by Kassi on August 28, 2008 at 11:11

One slight correction my friend. We do own our minerals. They are currently HBP by the 1955 lease. Thus we will get royalties based on that lease (12.5%) and be held to the terms of that lease which, as you know are horrible compared to the lease I negotiated for us.

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Permalink Reply by Bobi Carr ("parker") on August 28, 2008 at 15:53

Kassi,

I am very glad that y'all do own them. I know that you put in a lot of hard work in on it.

But I never insinuated that y'all didn't have your minerals. You may not have been replying to me though.

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Permalink Reply by Kassi on August 28, 2008 at 22:44

Hey Parker, I was replying to someone else but the answer went to the wrong spot. sorry about that.

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Permalink Reply by Bobi Carr ("parker") on August 29, 2008 at 2:35

No problem.

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Permalink Reply by Dion Warr, CPL on August 26, 2008 at 16:59

Susie:

Yes, and yes. The purpose of the draft (versus being compensated by check) is to provide time for the company (or its broker, abstractor, or agent) to research and prove up mineral title. Most drafts have a clause similar to "Payable on sight within X banking days of receipt and upon approval of title".

The relative nightmare of Joe or Jane Landowner receiving a letter demanding refund for an improperly paid bonus payment is reason enough for many landowners (usually at the advice or behest of counsel) to either strike the warranty clause from their printed lease form, or add a "no warranty of title (even as to the return of monies paid)" clause to their lease rider. Even as a landman I would understand and empathize with this request, since it holds the lease broker (or O&G company) accountable to what should be done prior to the acquisition of an oil and gas lease: being reasonably diligent in vetting the mineral title.

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Permalink Reply by Dion Warr, CPL on August 27, 2008 at 1:10

Parker:

I am not a CPL (yet) but plan on picking up the torch again later this year (as my wife is now out of school and making $$$ again, so I do not have to play "single parent" anymore). I need to go take a refresher course and the exam, and make time to continue education hours. Honestly, work has gotten in the way more than anything (fueled in no small part to E&P in areas like the HS). It's a fun time (busy!) to be in the business right now.

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Permalink Reply by Dion Warr, CPL on August 27, 2008 at 1:24

Snake:

None taken. Not that I wouldn't be proud to be a CPL, but some folks have worn it like a badge, and to act with courtesy and fairness to someone, I no need no stinkin badges.

I haven't passed through the CPL gates yet, so while I can say that I am a Land Professional or landman, or that I have been doing this for twelve years (and don't just call myself a landman because I took a landman course, or am out knocking on doors with a lease in my hand, or thought that "this month", being in the oil business would be cool), I do not have the right to the title CPL.

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