landowner

Voucher Extention

Three people I know leased to Petrohaw (I do not know amout of lease bonus) and were given a voucher for 30 days - almost 60 days have come and gone and still no money in the bank - bank told them after first 30 days that weekends and holidays (non-banking days) did not count in the 30 days and now the bank is telling them that there is an extension (did not say for how long). Not one of them had an attorney and not one of them has called Petrohawk - am I wrong to assume that the contract is void and the chances of seeing their money is slim - or is this normal in a voucher situation?

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landownerPermalink 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!!!

landownerPermalink 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.

landownerPermalink 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.
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.

landownerPermalink 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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landownerPermalink 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?

landownerPermalink 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!!!!

landownerPermalink Reply by Shaleeee on March 25, 2010 at 8:37
Harold Korman are you also lethalinjection?
Permalink Reply by S.H.M. on March 25, 2010 at 9:10
That is somewhat rude, don't ya think?

landownerPermalink 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.

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