Replies to This Discussion

Permalink Reply by Shaleeee on March 24, 2010 at 9:23

You are right - but one of the mineral owners - a friend of mine - wanted me to ask - so I did!!!

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Permalink Reply by Checkmateking on March 24, 2010 at 10:03

If you are approached for a lease, and you feel you have an agreement, just tell them to cut you a check. If they want the lease they will bring it, if not tell them to pound sand. No Draft, no problem, no voucher, no problem, no check, PROBLEM.

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Permalink Reply by ken hatcher on March 24, 2010 at 10:21

Some Company's drag a little and a landowner can get antsy. (I know) Usually the landman that did the lease can tell you if there is a red flag...since some of are all of them with Petrohawk have been laid off, it could be a little more of a challenge.

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Permalink Reply by Jon Williamson on March 24, 2010 at 11:57

Yes 30 days is banking days which is about 45 days. Also the clock starts when the bank marks it received. 60 days is probably not out of the question.

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Permalink Reply by sesport on March 24, 2010 at 17:03

Suggestion: Another option for payment to consider negotiating may be electronic draft, paid within a given/specified number of days. I know of one instance in which this type of transfer of funds was used.

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Permalink Reply by Shaleeee on March 25, 2010 at 7:20

Thanks - I will pass all info on to friend - file copy away hopefully to use for my benefit. So is the contract still valid or could the mineral owner lease to another company?

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Permalink Reply by Shaleeee on March 25, 2010 at 8:00

Thanks so much - did not know how all of this worked - also thanks for putting this explanation on my level of understanding!!!!

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Permalink Reply by Shaleeee on March 25, 2010 at 8:37

Harold Korman are you also lethalinjection?

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Permalink Reply by S.H.M. on March 25, 2010 at 9:10

That is somewhat rude, don't ya think?

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Permalink Reply by Shaleeee on March 25, 2010 at 13:16

FYI - the mineral owners now have their leasing money deposited to their account - thanks for the info on the process.