Replies to This Discussion

Permalink Reply by Landowner on March 30, 2009 at 11:21

Dion, We can not read the article with your link. You may need to copy and paste the article.

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Permalink Reply by Dion Warr, CPL on March 30, 2009 at 11:27

OK, hang on...

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Permalink Reply by Two Dogs, Pirate on March 30, 2009 at 11:32

Dion there is a conversation going on in the golf course thread on this subject. But I am with you this needs to be a headline thread.

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Permalink Reply by Dion Warr, CPL on March 30, 2009 at 11:36

An oil and gas exploration company has filed a federal lawsuit against the owner of a local furniture store accusing him of fraud.

Chesapeake Louisiana, L.P. filed the federal lawsuit earlier this month against Robert M. Creamer and one of his companies, Creamer Property Management, LLC, claiming that Creamer defrauded Chesapeake out of over a half-million dollars by signing two oil and gas leases with two different brokers working for Chesapeake on the same day.

According to the lawsuit filed by Chesapeake's New Orleans attorney Paul K. Colomb, Jr., Chesapeake employs numerous agents or 'brokers' to seek out landowners in efforts to acquire leases on land, and in September Chesapeake had employed several brokers to acquire leases on land in and around Shreveport.

Colomb stated that Basin Management Group Inc. and Twin Cities Developement, LLC were actively pursuing leases in the Shreveport area when they both, unknowninlgy to each other, began negotiations with Creamer to lease his property...

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Permalink Reply by BirdDawg, plain ole' idiot on March 30, 2009 at 13:43

ShaleGeo, et al,
I hope Creamer has good attorneys also. He was no more dishonest that CHK has been, in my opinion. I find Jim Krows post interesting. Sorry, I think it is time someone took CHK to school. They have been big on taking everyone else to school. I like Chk, I think they are a great player in the game, but they have been less than honest with a lot of people. Like I say, what goes around, comes around. Or at least I like to think so.
Just my uneducated opinion.
I have been screwed (in my opinion) by O&G more than once. And I realize that most of the time it was my fault, because, unfortunately, I believed what I was told, often by friends in the business. Unfortunately, for years I thought that what some one told you, they would do. I now know know that O&G, both big and small, will lie like a dog to you. This is not hearsay, this is fact. Let me get a chance to return the favor, they better get a jar of vaseline. If I have my way it is gonna hurt a little.

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Permalink Reply by Dion Warr, CPL on March 30, 2009 at 13:11

KB:

Based upon discussions with several brokers and personnel in the area at that time, the main players were still identifying and assigning full townships (23K± acre 'blocks') to their various brokers for preliminary title and lease contacts and negotiations. Could be that each broker identified Creamer in their assigned areas, then realized by subsequent contact and/or tax roll determination that he owned or controlled property in another area, and each decided to 'lease all his acreage' without consulting the other broker.

I'm still waiting on facts, but it is curious with the widespread use of moderate to long duration sight drafts in the area and the usual doublechecks done prior to approval of a draft (and especially before writing a check) that Basin would have paid consideration prior to updating the title up to the minute (ie., checking the daybook).

If anything, I would believe that this would be CHK's undoing in court (could have known, should have known, sophisticated party, expected due diligence, etc.)

In all fairness, Creamer clearly knew what he was doing, and should have disclosed the other offer. But was it his obligation to do so? And, LA has a race statute; the first lessee who records his lease wins, and the Twin Cities lease was of public record. What happened to Basin's due diligence???

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Permalink Reply by BirdDawg, plain ole' idiot on March 30, 2009 at 13:46

KB,
I hope CHK has to eat this one.

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Permalink Reply by Checkmateking on March 31, 2009 at 4:01

Mr. Glassell died last year at the age of 95, he went to Byrd highschool, he was born on Cuba Plantation.

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Permalink Reply by Checkmateking on March 31, 2009 at 4:32

What is the book called, I would like to get a copy? Have you ever seen the Glassell collection of African Gold in Houston? Amazing, he was an extraordinary man. I wrote a paper about him in college, I have always been interested in fishing and I was a KA like him.

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Permalink Reply by Dion Warr, CPL on March 31, 2009 at 5:59

Go Haynesville Shale: Timely Coverage of a Regional Lease Play, or Emerging Epicenter for the Occult?

On the next... Huh-raldo at Large (twisting moustache)...

Will the body paint be oil-based, water-based, or... shale-based?!

Permalink Reply by Cathaus on March 31, 2009 at 4:35

Arnie Castellano was vigorously "shopping" all of the leases around. He wanted as much as he could get for them because he stood to make more that way. He was in for a per centage of not only the bonus but also the royalty. That may account for the delay in recording the lease. There may be more instances like this that we haven't hear of. In the end it came back to bite Chesapeake in the butt.
Do I feel sorry for Twin Cities, yea, right. Especially when one of their landmen told my neighbor that if he didn't take the $2000 an acre bonus that he would have to pony up $10,000 an acre to have a working interest with Chesapeake.
Creamer was wrong. I would hope that I would have more morals and ethics than this but I still think sometimes it is nice to see the shoe on the other foot!

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Permalink Reply by Cathaus on March 31, 2009 at 5:24

My elderly neighbor bought into it, hook, line and sinker. There was no way that I could talk him out of it. I trust this man's word implicitly. He was running scared, thinking that he needed the money to insure his wife's future in case of his death. That is how Twin Cities operates folks. Don't feel sorry for them. I am sure that there must be ethical landmen on their payroll but Lord knows, we sure haven't had the privilege of meeting them!

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