Replies to This Discussion

Permalink Reply by shooks on October 12, 2008 at 2:50

Pam you do know that this land is in Natchitoches Parish and not Sabine don't you

Permalink Reply by shooks on October 12, 2008 at 2:49

I was at the meeting with this attorney. It will not tie up the land. If another offer comes along, the the property can be leased. If it is an lesser amount, they can sue for the difference between the two. Also the suit is not a lease suit, it is a contract suit. In the state of Louisiana, the attorney's fees are usually 33%. In order to get the money, you will be taking $3600.00 less per acre, leaving a good bit amount, which no other company has offered, or even talked with the owners

Permalink Reply by pam kurz on October 13, 2008 at 15:47

Yes....I know it's in Natchitoches Parish ......but most of the activity appears to be in the parish you live in. That's why I joined the Sabine Parish forum. You said it won't tie up the land......if you look at the contract .....it starts off stating this is not in LITIGATION........once it gets in litigation.......I've been told things change.......I experienced something similar when I signed a contract with a Child Support Collection Agency......gave the attorney the power to recover back child support and only had to pay him 30% of what was recovered.....if the attorney was able to get it. They managed to file a lien against my ex's home which is good FOREVER. The lien doesn't expire......but my contract with them expired after 2 yrs. So.....even though they didn't recover any child support ($94,000.00) ....they will still get approx. $30,000.00
when and if he passes away......so when Laura inherits the house......she can't get the Title cleared without paying them $30,000. I probably will never see any money because the federal government will get their back taxes, etc.
When I found out the scam......I talked to another attorney and they told me this happens all the time......I had no recourse.......because I signed the contract to allow them to represent me.
You mentioned the attorney told you if another offer comes along you can still lease it. I'm sure He did.....he would be stupid if he didn't.....then, he wouldn't have to do any work and still get a huge hunk of everyone's bonus money.....before any of his bill is deducted. You sign that agreement and he can hire more attorneys, experts.....run up a costly bill which will also be deducted after he takes out his 25% off the top. But why would you want to give him 25% if another oil company is willing to sign a contract. This attorney is a CONTRACT attorney......this is not the kind of attorney you want to break a CONTRACT with......lol. He worded the contract so that you can't even take him to court if he doesn't do his job.....and he doesn't even have to reveal any "discovery" and you give up your right to appeal. It's sent to arbitration......WHICH YOU NEVER WANT TO DO!!!
The contract attorney only cares about making money off the initial bonus money......if he doen't get it.....he will sue for the amount plus interest.
He's making 25% off 10 people's bonus money.......apporx. half million + his fees. Sounds a little fishy......how do you know XTO isn't going to sign.....have you talked personally with their landman??? Why didn't someone call XTO and ask to talk to one of their landman who is assigned to Natchitoches Parish. Get the scoop from the company.....not a middle man who may or may not be telling the truth. I don't think I would have been concerned with the contract if the attorney hadn't asked for 25% before he gets all his attorney charges/fees. The contract doesn't limit a cap on his fees, does it?
Your mom and Uncle Ok may not be that worried because they have a lot of land. Mom and Aunt Ann have the smallest amount of acreage. Aunt Ann probably won't see any bonus money after the attorney gets his % + fees.
I had a corporate attorney look at it and they said don't sign it .....to consult with an Oil and Gas Attorney.

Permalink Reply by Two Dogs, Pirate on October 13, 2008 at 16:05

Isn't that what I said, have an attorney look at it, don't sign nothing. You need a good Louisiana attorney to look it over. Louisiana law is a bit different than other states.

Permalink Reply by shooks on October 14, 2008 at 9:42

I have talked with xto, and got nowhere with them like they have been doing with your group and another group that was dealing with them since june and they still have not received their money. if the attorney does not get the money from xto, then you do not have to pay. Any other people he hires he pays out of his 25% .you need to call the attorney and talk to him. sounds like you have a different paper to sign and you are forgetting that $9300.00 is still a lot of money and that is after the attorney and the landman fees. The is no one even leasing in any of the areas, and the rumor is they will not be for 5 or 6 yrs.. If you don't feel comfortable, don't sign it. This is the most backards state i have ever seen in my life. its a matter of trying to get the $9300.00. Take the $9300.00 x acrage. that's what they will get. Not the $12,900.00 that they are suing for. That's what most people are content with here, just sit back and do nothing. e-mail me if y ou want the attorneys number. Have him fax the papers to you. We took the papers to our attorney before they were signed. I did not want mom to sign anything before he looked at it. You can deduct the attorney fees, and the land man's fee off of your income tax, because you had to pay that to get your money. The attorney will 25% and that's all and there is no up front money. By the time we pay our taxes it will be about 41% that's including state tax here.

Permalink Reply by pam kurz on November 1, 2008 at 10:32

Hey,
Mom received a letter from XTO....did you guys get the same letter?

Permalink Reply by Grumpz S2 on November 7, 2008 at 5:19

Shannon, I have not heard that Dave Means was closing his office but that doesn't mean he's not. The deal Dave got us with Chesapeake was 25% royalty and $12, 500 per acre - 40 acres - bonus money. Dave's fee was 3% of the bonus money. His partner Bob Plummer handles my familys probate and estate legal matters. Both of the guys are 1st class.

Hope this helps and I wish you the best.

Grumpz

Permalink Reply by waltcop on November 13, 2008 at 5:36

Anything happening in and around Mitchell, LA? I'm in Texas but have mineral interest in three tracts there, and I sure rely on this site to keep me up todate on what is going on in T9N R12W. We agreed on an offer from XTO back in June 2008 but still have not heard or received anything from them. Please post updates if you have any. Thanks.

Permalink Reply by shooks on November 17, 2008 at 3:00

Good Luck, Seems that XTO is not paying any of their offers from June and July for sure.

Permalink Reply by Two Dogs, Pirate on November 17, 2008 at 14:00

Was your offer from XTO or from a third party? In your previous posts you have stated that you have met with attorneys about some deal with XTO. This may be why XTO don't want to talk to you. As I have said before, on this web site, attorneys have put together deals and presented them to XTO and others. These deals were for the attorneys benefit to make a profit off your mineral interest ie cut of the bonus and for some a piece of the royalty. Before labeling XTO the bad guy you may want to go back and look at the facts again. Did you ever speak with a representative of XTO in your first encounter about the lease? Was the person a agent or legal representitive of XTO? Did the person that contacted you say the he represented XTO? Attorneys have put deals together in the past 6 months that were speculative in nature, some have wound up wiyh egg on their face. The nature of flipping deals comes with the territory. Before I would bad mouth XTO or any other company, I would look into the facts or it may come back and bite you in the butt.

Permalink Reply by Bob Ballard on November 20, 2008 at 4:50

Shelia
My property in Natchitoches Parish T10N R10W was tied up by XTO for two months with an offer of $13,000 an acre. I was sent a confirmation e-mail which I responded to. I was later notified that upper management didn't approve the offer and it was retracted. This, even though it came from the home office in Fort Worth, TX, not a middle man.

Permalink Reply by pam kurz on November 22, 2008 at 14:41

Hey Bob,
Have you had anyone knock on your door? Wondering if that guy came
back. Let me know if you find out anything.
Pam

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