On April 10, 2010 a class action suit was filed affecting Haynesville Shale property owners in all of the Haynesville Fields of north Louisiana. The suit is filed against the Commissioner of Conservation and operators in the Haynesville Fields. The basis of the suit is that the Commissioner of Conservation is authorized by statute to establish a production unit that can be drained by one well. Members within one of the proposed classes are being denied their pro-rata share of production and the other class members are being denied their market value of their leasehold interest ownership. This may affect some 50,000 property owners in northwest Louisiana!
We have met with some of the attorneys and are pleased with the representation. The attorneys are class action attorneys Fayard & Honeycutt of Denham Springs; Simon, Peragine, Smith & Redfearn, LLP of New Orleans; Law Offices of Rudolph Estess, Jr. of Baton Rouge (in that office as special counsel is Jack C. Caldwell), Charles Tutt of Shreveport, Cave Law Firm of Baton Rouge, and Ryan Gatti an attorney from Bossier City. Through our own independent research we have learned that Mr. Caldwell was a contributing author to the Louisiana Mineral Code and also served as Secretary of the Department of Natural Resources.
If successful this would create a tremendous economic boom to this area by creation of many more jobs, not to mention a substantial increase to severance taxes to the state of Louisiana. We have received per request a filed copy of the pleadings filed in East Baton Rouge Parish. The suit explains the law and the resulting violation. Should you desire a copy of the suit please email your request to us at: www.fairdrilling.com. You may also wish to contact your attorney or local attorney for the group, Mr Gatti.
I don't think ole Andrew was worried about the MO getting paid.