Our original lease/Memorandum for interests in Doddridge County WV was done in January 2014, and now they want us to sign an amendment to the Memorandum. Problem is the amendment goes quit a bit beyond the "secondary term" and "right of first refusal" language the cover letter claims they need to add to the original Memorandum.
1) It asks us to "declare that the Lease is a valid and subsisting oil and gas lease..." which seems like a trick to have us accept something to which we might not otherwise be bound (under the law and terms of the lease we signed).
2) It also requires us to "execute, acknowledge and deliver any additional instruments..." Again, something that was not in the original lease, but to which we would be bound if we sign the amendment.
Really annoying to us because we already paid an attorney to negotiate and review the original paperwork. Now they put this in front of us and say will not pay royalty until we sign and they are not offering any consideration for signing the amendment, even though the amendment states that we acknowledge receipt of consideration.
Has anyone else had this experience? It seems highly suspicious that Antero would have not been up-to-date with the requirements of information that must be included in a memorandum of lease at the time they prepared one for us to sign together with the lease. If the law changed later, it seems that any previously recorded memoranda should be grandfathered in.