Replies to This Discussion

Permalink Reply by Hobbs on November 4, 2011 at 5:23

Keith, why was this page removed?  The underwear of these people needs to continue to fly the flagpole.  I think they earned their own GHS page.

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Permalink Reply by Skip Peel - Mineral Consultant on November 4, 2011 at 5:51

Hobbs, the page was not "removed".  When discussions rotate off the Main Page they go to the site archive.  Many newbies, and some members who have been around a while, have no idea that with few exceptions all the GHS discussions are preserved in the archive.  In order to search the archive, click on "View All" at the bottom of the discussions listed on the Main Page.  Then enter a key word or phrase in the search box and click on the magnifying glass.

If you do a search you will find other discussions touching on Cobra and similar companies and how they do business.  It does not hurt however to remind members from time to time.  The best advice is simply to throw offers like this in the trash can.

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Permalink Reply by insomniacnla on July 7, 2009 at 10:13

Hey Jay!

The one that I received from Cobra yesterday has an address of P. O. Box 136355 in Fort Worth. Their offer seems to say that they will pay you 30 times the previous 6 months average of your producing royalty interests but Cobra sends their offers to landowners that have NO current production so the landowner would not receive any other monies other than the $250.00 draft attached to their letter.

Their Mineral and Royalty Deed also states that you are selling ALL other interests you have in any other properties. So you are giving away everything for $250.00!!! And you give them the right of ingress and egress for them to mine, drill or whatever they want on your property.

The paperwork that Cobra wants you to sign and send in also contains an irrovocable General Power of Attorney over all of your property that you currently own. There is no telling what Cobra plans to do with the Power of Attorney and if someone signs it, Cobra could legally do it.

I hope that every landowner reads this Discussion and throws Cobra's offer in the garbage. The Attorney General for the State of Louisiana has warnings on their website about this type of thing.

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Permalink Reply by Skip Peel - Mineral Consultant on July 7, 2009 at 10:42

How about we find someone who has fallen for Cobra's offer and split the legal fees for a really good O&G attorney to take them to the woodshed. How about class status, KB? Or contingency?

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Permalink Reply by DO Analyst on November 17, 2011 at 8:59

Skip,

 

I think that them, or one of their partners were actually taken to court in Arkansas, I am not sure of the outcome, but I know it got very heated.

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Permalink Reply by Skip Peel - Mineral Consultant on November 17, 2011 at 9:12

DO, at one time there was interest from the local television media to do a report on Cobra as a way to warn mineral owners in the Haynesville Play.  I worked with one reporter to find a Cobra victim that would agree to be interviewed.  We were unsuccessful.  In frustration I searched all my parish clerk remote accounts and thankfully found very few mineral deeds in Cobra's name.  Nonetheless, I would gladly help anyone who wished to expose their tactics.  I wonder if the Arkansas suite might be sufficient basis for a local news report.  If you can remember or run down any specifics I'll follow up.

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Permalink Reply by DO Analyst on November 17, 2011 at 10:27

I know that the people that I was dealing with at the time were in the Arkoma Basin in the Massard Field and Aetna field areas.  It was not in the Fayetteville.  Unfortunately that was with my previous company and I don't remember the S-T-R specifics but it was in the Fort Smith area. 

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Permalink Reply by insomniacnla on July 7, 2009 at 11:19

My letter is dated July 1, 2009 and the enclosed Mineral and Royalty Deed states that the Grantees are Southwest Petroleum Company owning 50% and Cobra Petroleum Company owning 50% interest.

I do not personally know anyone that accepted any offers from Cobra/Southwest but I subscribe to the DeSoto records online and I regularly search surrounding sections for leases. I have found that Cobra records their Mineral/Royalty Deeds in many, many sections other than the sections listed in the M/R Deed as being owned by the landower. In Sec. 12, 15n 14w, Cobra and/or Southwest recorded a M/R Deed for the Giles family even though the Giles family does not own any interest in the land in Sec. 12.

When I received my letter, I went to the Attorney General website to see if I could lodge a complaint about this and that is where I found the warning issued by the AG last year. The warning by the AG's office seems to address this very thing but I do know that the AG has actually done anything other than issue their warning.

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Permalink Reply by Hobbs on November 4, 2011 at 5:30

One of Southwest/Cobra's ploys in Louisiana is to obtain mailing lists attached to Conservation Commission required notices of hearings.  They are aware that, at the time of the notices, many operators are producing or close to producing new wells, but have the money in suspense pending completion of title opinions and the approval of the unit.  Southwest/Cobra attempts to obtain your minerals before you find out that you have money coming your way.  If you are interested in their offer, I suggest you first contact your operator/lessee and ask them if they have any money in suspense, and production about to commence, or any upcoming plans to add value to your leasehold.  With that information, you can make a more informed decision.

 

In the cases I described above, they probably have accidentally paid some people more than their minerals are worth, but by far, they do not pay fair value due to deception by withholding information. 

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Permalink Reply by robert minton on November 4, 2011 at 14:51

Hobbs is right . However, offer made--offer rejected.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hobbs is right. However, offer made---offer rejected--end of story.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HOBBS is right. However, offer made--offer rejected--end of story. It is called business! Read twice, and comprehend,--- and make choice. Called private enterprise!

 

 

 

 

 

 

 

 

 

 

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