Replies to This Discussion

Permalink Reply by Cathaus on July 13, 2008 at 9:05

The jig is up. Arnie or rather his dad-in-cahoots, let it spill that they are leasing on behalf of Chesapeake. Who knows how much Arnie and Daddy Deep Pockets will get from Chesapeake but anybody that was crazy enough to lease with Castellano and Associates will only get the $15,250. an acre!!

Permalink Reply by ResearchMommy on July 13, 2008 at 16:17

What happened with your offer of $20,00 per acre you were going to let us all know about Friday night?

Permalink Reply by Cathaus on July 13, 2008 at 19:32

Offer of $20,000?

Permalink Reply by ResearchMommy on July 14, 2008 at 1:01

From the posting on Friday night....this one:

Comment by Cathy Hauser on July 11, 2008 at 5:10pm
I just received a call saying that there would be a meeting at 5103 Shreveport-Blanchard Hwy. tonight at 6. We will be meeting with an attorney to discuss an offer of $20,000 an acre. I know not who this attorney is nor any of the particulars. If you care to hear the details, please plan to attend. If you are not able to attend, please feel free to email me at cdwhauser@hotmail tomorrow and I will share what I have learned.

How did that turn out?

Permalink Reply by Cathaus on July 14, 2008 at 1:25

One of the men in this area had arranged for a representative of a company to tell us how he could handle our lease negotiations for a fee!
That is exactly why we should always "check" out all information for ourselves when possible. By the time I got the call, the information had taken an entirely different and non-factual turn.
This guy was on the right track. Will we decide to use him? If he can renegotiate his standard contract to fit our needs, he will stand a better chance of landing over 1400 pooled acres. It will be up for a vote in our association. I have always contended that I would not pay one red cent of my bonus money nor royalty money to anyone to do what I could do myself. I have eaten a lot of words in my time and maybe that will account for being 20 pounds overweight!!

Permalink Reply by Coonman on July 14, 2008 at 2:43

He did say that he got one group $20k already

Permalink Reply by Cathaus on July 14, 2008 at 4:54

Coonman,
I finally got a copy of the contract. Same contract as the one Arnie C. offered. Am I right? Did Ricky stand up and say that we wouldn't be paying him any of our royalty? In the contract is states that if he is able to negotiate anything over a 25% royalty, he pockets it!! UNACCEPTABLE Also, you will be locked into this contract for 6 months. If you cancel the contract and within that 180 days sign with anyone that he has "shopped" the leases to, you will still owe him the 4% commission. I left a message on his answering machine informing him that I could not in good conscience recommend that any of our members sign this contract as written. Not gonna happen on my watch if I can help it!!!!!!!!!!

Permalink Reply by Coonman on July 14, 2008 at 5:11

Good for you.... I read it when I got home I didnt like it.

Permalink Reply by marion&peggy trawick on July 14, 2008 at 7:34

I have that same contract and found it to be not very favorable for us. I am new to this site and found it to be very informative. I would like for someone to let me know when the next meeting is so that my wife and I can attend. We live in Hidden Acres Sub. and got the contract from a neighbor. I don't know much about this stuff, so I gave the lease to my daughter. She looked it over and told me not to sign it. We are in Township 19n Range 15w Sec. 33. Has anyone got any other information for my area? My email address is vptrawick@bellsouth.net. If anyone has information about another meeting or anything else, please email me with the info. I really appreciate the feedback this site offers.

Permalink Reply by Coonman on July 14, 2008 at 8:18

Not sure where that is Blanchard?

Permalink Reply by RAY on July 14, 2008 at 8:22

in plain English:where are you located?
I dont mean all this tship19n/range15/section lingo?

Permalink Reply by RAY on July 14, 2008 at 8:18

I would be willing to pay a % of the amounts above what the O & G are paying out

if the going rate is $15,000 / 25%
and a middleman can get me $20,000 / 27%

I would be willing to pay % of the extra $5000 / 2%

I wouldnt pay on the whole $20,000 / 27%