Replies to This Discussion

Permalink Reply by Randy on July 25, 2008 at 9:13

Your kind of in a hole with them since they have sent you funds (not a draft).

Once again, depends on if the lease has been filed also. (Probably not)

Randy

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Permalink Reply by Cathaus on July 25, 2008 at 9:30

Whatever you do, DO NOT CASH that check. Cashing the check could constitute full payment for services rendered. This is a delay tactic that seems to be happening more and more often. O & G companies are issuing checks that somehow have the wrong amount or name on them. I admit that with the enormous amount of paperwork that is being done on daily basis, mistakes do occur but this is getting to be more and more prevelant.

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Permalink Reply by CMI A1 on July 25, 2008 at 9:42

It is amazing at how many people get the wrong amount, money went to wrong account, delays supposidly with the bank. I have never seen another industry with so many mishaps. It certainly makes you wonder if these issues are not intentional.

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Permalink Reply by Randy on July 25, 2008 at 9:42

It is a legal gray area if they give you a check. It does technically constitute payment the same as cash. A draft on the other hand is NOT, since you don't have access to those funds. Either way it would require some serious legal bulldogging to prove that funds paid by check wasn't payment.

That's kind of like selling a car to someone but never depositing the check they gave you. It's still their car... well not exactly the same, sounded better in my head.

Randy

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Permalink Reply by Iris on July 25, 2008 at 10:02

No do not cash the check....agree with Cathaus...there was a similar situation somewhere else on this website....

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Permalink Reply by RL on July 25, 2008 at 10:07

Don't cash the check until you get the right amount due you.

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Permalink Reply by Theunknownquantity on July 25, 2008 at 14:05

Call your Petrohawk contact, if you have one, and inform that you will be sending them back the bad check uncashed and that once they have corrected their mistake all will be fine. Don't cash the check as it stands, that implies that you have accepted the lesser amount.

While Petrohawk may have made an honest mistake, given the hectic pace of leasing activity going on, be firm on this matter.

To Petrohawk's employees, if you track activity on this website, and I'm sure someone at the company does, please show good faith and rectify this situation. I hope that that this little problem can be addressed forthwith.

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Permalink Reply by TCB DS3 on July 25, 2008 at 19:16

You could cash the check but write on the back and front this is "Accepted as a partial payment toward full payment amount of $xxxs per lease". But, I would think you would be putting more pressure on the o/g if you did not cash the check. Sent them a fax stating they have five days to wire the correct amount to your account or the lease will be null and void on the sixth business day for non-payment on their part. Also, state you are overnighting the incorrect check to them same day and put the tracking number in the fax so they know you mean business. That will get their attention and your full funds quickly. TCB O

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Permalink Reply by Landowner on July 28, 2008 at 11:25

After reading about the amount being incorrect. I went back and pulled out my o/g lease from 1999. My lease show 35 acreas for $100.00 an acrea. My draft on the other hand was for $2625.00. I was shorted $875.00. That is what you call being to trusting. I can't believe I let something like that get by me. It won't happen again..

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