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Permalink Reply by adubu on June 28, 2012 at 15:02

I am surprised the Bank allow ETF out of you account without notifying you for approval-- ETF funds into you account is like a Cashier Check-- Your Bank maybe liable to cover these funds back in your account. If there is attorney ot banker member on site that sees this tread please comment--- I would call the bank in morning for them to explain it too you. How long was funds in your account before wire reversed?

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Permalink Reply by GoshDarn on June 28, 2012 at 17:08

adubu, don't know the particulars of this particular situation, but certain direct deposit agreements do clearly state that money can be withdrawn without notice if there is an error (or some such wording).

Many times, folks just don't read the fine print.  Of course, beyond that, that's no excuse for not at least notifying someone before such happens.

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Permalink Reply by adubu on June 29, 2012 at 0:36

GoshDarn-- That's why I ask How long the funds had been in the account---I like you don't know all the particulars of this case--but in general agree funds  can be reversed before typical check clearing time ( most 7 days) but bank should be and are required to have you in loop of notification. I don't think they have unlimited time to reverse the EFT. Smith1 implied the funds had been in account for period of time --that he had spend the funds out of his account before funds reversed.  The bank owes him a explaination and why was he not notified. Hope he does not now have some hot check out and they get return and cost him fees on overdrafts plus his credit score effected negative due to same. He need to talk with his bank today and Petrohawk also requardless of their conflict if gas/oil producted and sold Petrohawk owes him the money I would think. As ShaleGeo said if PetroHawk can not clear this problem a Attorney that does litigation with oil & gas background needs to be consulted.

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Permalink Reply by smith1 on June 29, 2012 at 1:19

The funds were in my account about a week.

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Permalink Reply by adubu on June 29, 2012 at 8:32

smith1--- have you talked with your Bank and what did they say about not notifying you? Have you looked back at paper work when you set up the EFT to your account with PetroHawk? Did it say anything about reverse draw and time limit? Does your bank have a time limit?

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Permalink Reply by smith1 on June 29, 2012 at 8:53

I did talk to Regions Bank and they were extremely nice BUT did say they were under no obligations to notify us of any deposits and/or debits per our original paperwork signing (probably years ago!). Good idea on the EFT with Petrohawk, I will have to look at that tonight, haven't thought of that.  But, my O & G lease does have a paragraph that states something to this effect ".....without any recourse against LESSOR whatsoever, .....not even to the extent of any monies ......and not even for the return of bonus, rentals, royalties, or other amounts paid....."......... I am wondering what this mean.  I have emailed all to my O & G attorney.

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Permalink Reply by adubu on June 29, 2012 at 9:24

smith1--- think you on right track to get answers-- One other question --did PetroHawk have to shut the well in because on some conflict and was oil & gas sold that you receive payment for? unusally payment is received for production sold 45-60 days before so surely PetroHawk had been paid for production share with royalty owners some thing not adding up. PetroHawk owes you details of situation.

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Permalink Reply by smith1 on June 29, 2012 at 9:32

No - well still producing, not sold, all my neighbors being paid,,(what's ironic, is on Petrohawk's payment website, it still shows me as receiving royalties)........,,received certified letter stating our land was located within the vicinity of the bed of Lake Bistineau - high water mark of Lake Bistineau in 1812?? Something about 148.6' contour line, ........etc.  However, we had someone with experience & knowledge "plot" our land out and they all stated our land was absolutely NOT in this "dispute" over the Lake Bistineau lake bottom rights??? I really don't understand all this. The landman from Petrohawk has repeatedly said he would email us or return our calls BUT we have not heard a word.

Permalink Reply by adubu on June 29, 2012 at 9:57

smith-- rather than talking to Landman who probably clueless to situation-- call PetroHawk royalty relationship direct--- they were brought out by BHP last year so go to their web site for email and phone number contracts-- I will see if I can copy and paste contact for you------ here the number 832-204-2799 or email ownerrelations@bhpbilliton.com---  must be issue of who is title owner of minerals and if located in La. or Tx which could change title owner of and if minerals separated from surface deed in past vs La. 10 year thing--- BHP should advise you were is the money received from sell of oil/gas -- is it in Eschow account or were?

Permalink Reply by GoshDarn on June 29, 2012 at 9:59

smith1:

Don't know enough to advise professionally, but this topic about Lake B. and that issue isn't new on GHS.

Ergo, from a quick perusal (and I am not a lawyer, nor is this meant to be legal advice; plus you state you have a lawyer) --

So this simply appears to me to be a title issue per the La. state laws on ownership of lands near to or bordering the shores of such bodies of water (in La.).

[FYI:  Grew up near Lake B., and I manage royalties in that vicinity per a number of operators.] 

In other words, HK seems to have revisited the legalities and is presently siding on denying your ownership (more or less; is my rough guesstimate).

Thus, they want their money back.

If true -- and I could be completely wrong -- yet, if true, then your focus needs to be on the lawyer and/or on possibly getting a better lawyer.

Lastly, remember that HK will have to either pay you or pay the state.  So, more than likely (and this is yet another big guess) -- it's HK clearing title to the proper mineral owner and not an issue of HK trying not to payout proper royalty.

Good luck.

 

 

 

Permalink Reply by adubu on June 29, 2012 at 10:10

as per GoshDarn advised--- you may just need a good lawyer. But I would still contact BHP Billiton for explaination and find out what did they do with the money--- probably in a escrow account unti title cured and then that may try to get all prior money back from you if they show title to State of La. or others  :(  save all notes from them for you attorney

Permalink Reply by adubu on June 29, 2012 at 10:20

Also are all you mineral acres in question or just some of % under the questional lake B border? They may hold payment of any royalty part cured title until prior money recovered--- Good Luck-- let us all know what outcome is---

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