Replies to This Discussion

Permalink Reply by Cathaus on September 6, 2008 at 15:33

You have been approached by a flipper. They want 90 days to sell your lease for more than they are offering you. Run, don't walk, as fast as you can!

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Permalink Reply by Rae N2 on September 6, 2008 at 16:05

Thank you!

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Permalink Reply by Rae N2 on September 7, 2008 at 5:18

Again, not sure why this dropped off the discussion page.

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Permalink Reply by reg on September 7, 2008 at 5:48

be wary of the Free 90 option. tell him you want $ for this. Most people will pay for an option.

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Permalink Reply by Bobi Carr ("parker") on September 30, 2008 at 11:31

Mr. Bussiere,

Have you looked at the no solicitation rules of this site?

Also, flipper or not, why should anyone give someone else an obligation when the person on the other end of the deal is not willing to obligate themselves in any way.

If you want the lease under the terms that it is written, why not just pay by draft if title or other verification process needs to be done.

If we are so uninformed, why not enlighten us?

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Permalink Reply by Bobi Carr ("parker") on October 1, 2008 at 6:04

Mr. Bussiere,

I still stand by my statements that an option should not be granted without compensation that the mineral owner is satisfied with. I don't profess to know you nor your company. I have read about another company in the North part of Bossier Parish doing the same thing.

Most groups in Shreveport/Bossier are signing NON-BINDING letters of intent. That way they themselves are in charge of what is best for them.

You may be doing a great job for you community. But once that option has been granted to your company, the individual looses their rights to do what is best for them personally. You could make a choice that is wonderful for your group but not necessarily fulfill the needs of one an individual. They should have the right to do what is in their best interest.

Most people on this site will agree that a group will work best for the interest of all, but I would never recommend someone to grant an option with no compensation. And you could have the best tract record in the past and also decide that now you chose to flip it. Why put people in the position of questioning your motives? Why not draw up a non-binding contract. It doesn't make sense to me.

And if you were not involved personally and privy to all of the details that you laid out (as we were not), you would probably assume it was a flipper too.

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Permalink Reply by Bobi Carr ("parker") on October 1, 2008 at 6:32

HMI,

You put it concisely in your last statement "A just man will have nothing to hide".

We may have gotten you angry with our posts, but they were not aimed at you directly. I don't know you, but everyone has to be diligent in checking out each deal.

This is business that can impact people for decades to come, each person should treat it as such.

Thank you for sharing the details of your arrangement. But be assured that yours is not the only deal out there and everyone should be cautious of what they do.

I personally know of 2 instances where people (I thought would know better) signed a mineral deed. They were lucky and had them rescinded but some won't be so lucky.

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Permalink Reply by Cathaus on September 30, 2008 at 21:43

The original poster never mentioned your name nor any other name. Why are you so quick to jump to the conclusion that he/she was referencing one of the deals that you are putting together?

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Permalink Reply by Cathaus on October 1, 2008 at 2:06

Hmmmmmmmmmmm I don't read other's old posts math or no math!

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Permalink Reply by Cathaus on October 1, 2008 at 2:29

Two things that I am NOT, coy nor paranoid! Having never heard your name before yesterday, I have no knowledge of you or your character. I accept what you are saying. I have no reason to doubt that you are an honest and benevolent person.

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Permalink Reply by Kassi on September 30, 2008 at 11:23

That sounds like Patton Energy. He is a lease flipper and will try to sell the lease for more than what he promised you during the 30 days. If he cannot sell it for more then he will void the deal at the end of 3o days and you are back to square one. Of course it could be someone else with a different angle..not sure without more information.

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Permalink Reply by Charles Bowman on September 30, 2008 at 11:50

I do not have land in the Haynesville Shale area , but I have been around the oil and gas industry for over 20 years. I would advise people in the Haynesville Shale area to secure leases as soon as possible. It will take a few years but as more wells are drilled and the actual data gathered while drilling and completing new wells is compared to the seismic date available on this shale formation. The oil and gas companies will learn exactly where to pinpoint the best areas to drill, for maximun production and recovery rates in this gas bearing formation. Then they will refuse to lease the acreage not within these sections and leave many people without leases or royalties on their land. I would seek a resonable bonus with a guarantee to drill in my section within a specified time period. But this is just my opinion!

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