Signing Leases
We signed a lease with Camterra Resources Partners located in Marshall, Tx, (oil, gas, mineral). The original lease was signed in Oct. 2002, and ended in 2005.
In April of this year, we received a remitance statement of royalties earnings, a check and a letter for us to sign the same lease that was signed previously with an effective date of Jan. 2005, sent from another company, Burk Royalty and Kibo Compressors Corp.
I have a problem with the effective date and if the lease was sold to this other company and if so when. We have nothing informing us of this transaction. It looks like the lease was sold after the lease was expired.
The Operator name on the lease now is Burk Royalty, property name is Owens Gas Unit, our property is located in Marion county.
I admit I do not know about the oil and gas lease game but something is not right here. Can anyone shed some light on this situation?
We have not signed.
In April of this year, we received a remitance statement of royalties earnings, a check and a letter for us to sign the same lease that was signed previously with an effective date of Jan. 2005, sent from another company, Burk Royalty and Kibo Compressors Corp.
I have a problem with the effective date and if the lease was sold to this other company and if so when. We have nothing informing us of this transaction. It looks like the lease was sold after the lease was expired.
The Operator name on the lease now is Burk Royalty, property name is Owens Gas Unit, our property is located in Marion county.
I admit I do not know about the oil and gas lease game but something is not right here. Can anyone shed some light on this situation?
We have not signed.
Views: 154
Replies to This Discussion
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Permalink Reply by LaMetra Willis on
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Yes. The small amount seem to cover a small amount of time with in the lease period.
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Permalink Reply by jffree1 on
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I think she replied to what Frank said, as in agreeing that it was a draft. She hasn't said yet what she did with it and I sincerely hope she looks into the matter further before doing anything.
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Permalink Reply by DJG on
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Guys, I don't see anywhere where she said she recieved a check from Cobra. Looks like the check would have been either from Camterra or Burke.
Only reference to Cobra was from Frank's joke above.
LaMetra, Cobra is a company that is sending a lot of "Scam" type offers via mail to royalty owners and is sending checks that oftentimes can be confused as a royalty payment. In the fine print when cashing those Cobra checks, the mineral owner is actually selling their royalty/mineral rights to Cobra for the amount tendered.
That said, hopefully, the check that you did deposit was actually from Burke - who is a small O&G in E.Texas, but is a legit entity.
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Permalink Reply by Mac Davis on
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This sounds really strange. Receiving a check for 5 years of royalties, and being asked to sign a new lease backdated for 5 years.
I smell a rat.
Roughly how many acres of land do you have?
Do you own any other land? This might be some kind of scam to trick you into leasing some other land you own. There are often sneaky terms that say you are leasing more mineral rights than you think you are.
Plus if you're already leased, signing another mineral lease on the same minerals could cause you big legal problems. If the well was drilled during the first lease, that lease is probably still in effect.
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Permalink Reply by Kat Bloomfield on
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Get thee a landman or attorney to review and RS status of original 2002 lease before signing anything
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