Replies to This Discussion

Permalink Reply by sesport on February 14, 2009 at 22:00

MM - Joinder of parties is easier said than done. Believe me ... been there, done that.

My thoughts ... use revenues paid to lessor to start buying stock in lessee's company. Doesn't corporate law require that shareholders have the right to inspect records? I know it's applied to non-profits, I inspect records all the time using that provision.

It would truly be funny if all the lessors became the lessee's shareholders.

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Permalink Reply by lanadan Ds3 on February 14, 2009 at 22:30

I guess that becoming a stockholder is an o.k. thing for some savvy folks, but to me that's like going all the way around the house just to get in the front door.

Being an Unleased Mineral Owner with 75+ acres in a section where a pad is currently being constructed (with connecting pipelines), you better believe that I will, under the terms of the law, REQUIRE the OG to cough up the necessary info to make sure everything is indeed "on top of the table" so the speak -- even if this involves going the court house route in "proper person" (without the use of any high-priced, fancy-pants, big city lawyers). And please don't throw the old ". . .the person who acts as his/her own lawyer has a fool for a client . . ." routine at me, and PUH-LEEZE, don't say it can't be done as I have done just this in the past, even filing papers with the 5th Circuit Court of Appeals after winning in the District Court. And guess what -- I won!

I'm sure you will agree that LOs (whether leased or not) would better themselves if they would (1)do their homework, (2)know the law (as best as possible), and (3)adopt the attitude expressed by the character in the novel/movie NETWORK where he simply says ". . . I'M MAD AS HELL AND I WON'T TAKE IT ANYMORE. . .!!!

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Permalink Reply by sesport on February 14, 2009 at 23:33

Mad as hell at me???? Have we met & know each other on a personal level? I was just relating my own experience, sharing my thoughts/opinions. And, BTW, I whole-heartedly agree with points 1 & 2 in your last paragraph, then each person makes the best choice for themselves.

I wouldn't dare to presume to tell you how to conduct your business ... and congrats to you on your win, sincerely. :0)

Permalink Reply by lanadan Ds3 on February 15, 2009 at 0:02

FYI Sesport: These 3 points are not directed at any one individual but rather a simple heartfelt thought for those who feel they have been (are being) preyed upon by the corporate monied interests in all this. I always root for the "little guy" whom I am sure feels somewhat bewildered and, yes, helpless at times. Therefore take heart all you little folks (land/mineral owners) out there, and remain faithful to what you think is right. A very wise man once said ". . . do what is right simply because it IS right"! . . . "

Permalink Reply by Jay Murrell on February 15, 2009 at 2:32

You are sure going to teach those evil oil trickers a thing or two……..they must be quaking in fear even now

Permalink Reply by sesport on February 15, 2009 at 5:13

LA RS 12:103 Corporate records; shareholders' rights to inspecct

Form an investment club/group, like those little old ladies from ?????? somewhere ... LOL I can just envision a group of little old ladies going to corporate headquarters to exert their right to inspect.

Seriously, just invade their camp.

Permalink Reply by sesport on February 15, 2009 at 18:06

KB - companies that are not publicly traded are getting financed by some institution. Back in "the days," when I was getting an education while getting an education, back when our banks were only allowed by law to operate in the parish in which they were founded, I saw many such "small operators," get their operations financed. The "good old boys' club."

Find out where the small operators are getting their financing, start investing in their stock, use the shareholers' vote to direct how funding is allocated. Don't these operators have to file business plans to get funded with financial institutions? Do a work around.

Permalink Reply by sesport on February 16, 2009 at 3:10

Ah, yes, Red River, and I imagine any number of the smaller institutions still existing and cropping up ( OIB? ) Yes, the club was very upset in the 80's when Fed regulators came in, the laws changed to open wide the doors for the institutions to take their business statewide. First Nat'.l, Commercial, Pioneer, LBT ... all gobbled up. Hibernia made one of the first moves, other national institutions followed. Yeah, "the club" was fit to be tied.

"You've got to network, network ..." (sung to the kids' movie tune, lol) Don't we have our own GHS members out there who might be in accounting, in those financial institutions, in those legal offices?

Permalink Reply by Jay Murrell on February 12, 2009 at 2:05

McWilliams wrote:

"Guess I'll have to take your word for it, I'm not going to be reading the court record from there.

And by the way, I believe you. But one question: you keep referring to unleased landowner/mineral owners as freeloaders, but in fact they are paying their pro rata share of well costs. Why aren't you acknowledging that fact?"


Jay Murrell's resonse:

If they are paying their way they are NOT freeloaders, they are PARTNERS and should expect to be treated as such. You must have missed that in my previous distinction...or perhaps I was unclear, sorry.


Best,

Jay

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Permalink Reply by Jay Murrell on February 12, 2009 at 4:00

KB wrote:

"so, I was dialoguing with no one, eh!
and what's on second."

Jay Murell replied:

I don't know.

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Permalink Reply by AubreyJ on February 14, 2009 at 8:59

b>"Chesapeake will force pool us if we don't hurry"
Answer is yes they can!

First it might help to know if a Well is fixing to be drilled by you soon... and if there is... make the best deal you can now and run with it. The well is going to be drilled with or without you. (They WILL 'Force Pool' you.) So in this case... If you snooze you lose.

The BIG MONEY PAY DAYS are over... but there is still fair prices going around out there for whear we find the markets and our economy in these days.

Best to ask around more, like you're doing now... and getting legal advice IS ALWAYS the best way to go. Spending a few dollars today, for safe of mind and to help better your pocketbook, is always the best way to go.

Nothing but the best to you and yours and good luck...
AubreyJ.........

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Permalink Reply by lanadan Ds3 on February 14, 2009 at 12:34

"The benefit to a lease is perhaps you can control lease terms, surface use, and other matters."

I will disagree with you on the above statement. When you are an UMI they cannot use your surface at all. Therefore, you are more protected as far as the surface use of your property. We have 75+ unleased acres in a section where the pad is being prepared at this time. For me, going unleased will ensure that MY acreage is in MY control. I have heard of too many people who thought they had a good lease only to find out later that the O&G had a loophole.

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