Replies to This Discussion

Permalink Reply by sesport on February 21, 2009 at 8:09

Eric - Is your group organized enought that it has contacted a negotiator or legal counsel? Unless you guys have someone in your group who is very, very knowledgeable about these matters, my suggestion would be to get some professional help with this matter.

Hope things turn out well for you guys - sesport

Permalink Reply by Eric S. Clarke on February 21, 2009 at 12:19

We have a team of 6 negotiators and have legal counsel! They are just not liking what we want to feel safe in our communities therefore they are doing everything they can to try to scare people to break up the group. Thanks for your imput. Thank you for your hopes too, right now we need all of them to keep our large group on track and so far we have been together and coming up on 8 months together and strong.

Permalink Reply by sesport on February 21, 2009 at 17:35

Eric - It's good that you guys are so strong. I have family in Southern Hills (S'port.) that stuck with their neighborhood/section group to get leased, also with Chesapeake. One of the glitches some of those neighbors ran into is that CPK will want mortgage subordination agreements from mortgage companies later on, close to signing deadline. Some mortgage companies ( Wells Fargo comes to mind) refused to sign subordination agreements. Those neighbors got left behind. Tell your group to start checking now with their mortgage companies to see if they will sign such an agreement.

Best of luck, my prayers are with you guys - sesport :0)

Permalink Reply by Eric S. Clarke on February 21, 2009 at 18:56

My dad was helping that group and at the last minute JPD pulled that on them, although they still signed. My dad was keeping up with the maps for the group but stayed out of the negotiations.

Permalink Reply by sesport on February 25, 2009 at 1:40

EC - I just remembered something else re. mortgage subordination from SHGLC experiences ... home equity line of credit (HELOC) counts as a mortgage that TC/CPK wanted subordinated. If anyone in your group has a HELOC, they may ask for subordination of that, too. Your members may want to check with lending institutions, if they have one of these, see if creditor will sign subordination.

Have a good one - sesport :0)

Permalink Reply by Jerry Bruce on February 26, 2009 at 11:53

Eric your legal counsel and advisors have no CLUE!!!

Permalink Reply by jlgm on February 26, 2009 at 12:39

And you can tell this from all the way over in Ft. Worth? How would you even have a clue to be able to tell Eric they have no clue?

Permalink Reply by Eric S. Clarke on February 26, 2009 at 13:19

Thank you for your support! Some people just have nothing better to do. I guess that is why there is legislation on the table in the Texas Legislation to regulate and require land-men to be licensed. Sounds like they had enough of what we are having to deal with too and I hope Lousiana Steps up and does it too. i have already written proposals to the several State Reps and Sen. among many others that can push for the legislation.

Permalink Reply by Eric S. Clarke on February 26, 2009 at 13:14

Jerry Bruce It would be nice if you just kept your thoughts to your self. They are not needed nor wanted. Go some where your HOT HEADED COMMENTS ARE DESIRED.

Permalink Reply by Grateful Heart on February 24, 2009 at 11:13

I live in Espanita Forest. I have it from a reliable source that Chesapeak will drill our section (16, T18N, R11W) in the second quarter because of a lot of 5-yr leases about to expire that compose a lot of our section. So if that is indeed good information, would it still be your advice to hold out and let them pool us if it comes to that?

Permalink Reply by Eric S. Clarke on February 24, 2009 at 11:45

That is the coalitions stand. Espinita is in T18N, R12, Section 16. Have you read the news on our web site lately. Your subdivison is having a meeting tonight about this matter and if you didnt attend the meeting last night then I invite you to the meeting Friday evenin at 630pm at Love Chapel. We expected all this and they are having some greater issues with greater amounts of land in T18, R12, sect 19, 20,21. They have twelve sections they forced pooled in south haughton area and have not been drilling there nor have we seen any permits granted for that area. So I am not sure where your information came from but the contact on the letters everyone received didnt even have plans or placements for drilling. Also, we have a lot of land/mineral owners in that section that would cost them millions if they didnt lease. So, with this you have to make the best decision for you and your family either to stay with us or sign thier lease and give up the majority of your rights in a legal binding contract!!! Hope to see you Friday.

Permalink Reply by Eric S. Clarke on February 24, 2009 at 11:51

Furthermore, if they do drill you can still be leased at a later date. However most of "their leases" only state that they have to start the drilling procedure but not produce. So, they can come in and tap the ground drill a shallow well, then cap it "shut-in" and those leases are held by production indefinetly until they abandon the well and well site. This is already being done because it is cheaper for them to do this than to lose the leases entirely. If ou would like to discuss this further please feel free to call me at 318-426-4658

• ‹ Previous
• 1
• 2
• Next ›
• Page