Non executive mineral interest and lease bonus payment

Dear Pat L.

Actually, it is the responsibility of the executive to properly manage the interests of the non-executives and are therefore placed and are held to a quasi-fiduciary standing.

Your first course is to ask the executive why you were not paid. They will likely be in a place of shock, saying that it is the oil companies responsibility to pay.

Well, it is, but it is the responsibility of the executive to have the non-executive treated exactly how the executive was treated. The executive cannot carve out any benefit for himself that does not likewise benefit the non-executive.

They (the oil company) may want you to execute a ratification of lease in order to get paid. You are NOT required to do so. Tell them to send the money and you will execute a receipt.

It may be to your benefit to execute a ratification of lease, but it is beyond the scope of this response to go into the land strategy involved.

Best,

Buddy Cotten