Cobra Petroleum Company-Mineral Owner Beware!
All,
Wanted to let you know that I received what at first looks like a check for royalties but turned out to be a check to buy royalties.
The company is Cobra Pertroleum Company out of Fort Worth Texas and my first reaction was that it was a royalty check, but after further examination and reading the fine print it was a check to purchase minerals. So please read the fine print before you cash anything!
Wanted to let you know that I received what at first looks like a check for royalties but turned out to be a check to buy royalties.
The company is Cobra Pertroleum Company out of Fort Worth Texas and my first reaction was that it was a royalty check, but after further examination and reading the fine print it was a check to purchase minerals. So please read the fine print before you cash anything!
Views: 54
Replies to This Discussion
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Permalink Reply by Earth Mama on -
Yes, I get these all the time for some interest I have in E Texas. HOW DARE THEY!! THE NERVE!! Sneaky dogs, no I mean worms. Dogs are way better than they are.
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Permalink Reply by NA on
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How did it look like a royalty check? I recieved a letter stating what they wanted to buy, a mineral deed, as well as a draft for payment(not a check). Please verify if they sent you something that was different.
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Permalink Reply by The_Baron on -
Black out the sensitive info and scan in what you got so we can see what you are talking about.
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Permalink Reply by David on
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I have received similar offers over the years for mineral interests I own in Louisiana, and it comes as a check for $250. There is other paperwork included, but anyone who deposits the check has, per the back of the check, as I recall, sold their mineral interests, often for the entire parish, to Cobra. The frustrating thing is that there is nothing which can be done to stop them from sending these offers as they get the names and addresses from public information, the tax rolls.
A few years ago my younger sister finally signed one that had been sitting around for some time. It was returned because it had expired (over 90 days). She would have received $250 from Cobra; over the last 4 years she received over $300,000 in royalties on this S. Louisiana well.
Bottom line, never, ever sell your mineral rights.
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Permalink Reply by The_Baron on
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I am confused.
To be legal, a mineral deed must be signed, notorized and recorded. Simply cashing a check will not sell your minerals. The best this could do is give you the contractual obligation to sell your minerals, they still would need a properly signed, witnessed , and notorized mineral deed
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