Months ago my sister and my cousin leased in Canadian County, Oklahoma with Penterra Services, . Re: Felix Energy, L.L.C.
Yesterday my sister received a phone call saying that someone had done sloppy work (after she had received all kinds of correspondence saying their was no conflict) and that she had to return the $9,000 they had sent her for leasing it, because it was already leased.
What I say is,,,,,there are all kinds of reasons as I see it that it can be re-leased...one reason, I think, is if it is not producing. Are there other reasons and how do we protect ourselves from idiot companies?
How can they just send you money and you have a lease notarized and then they want the money back?
What is a warranty of title provision?
They thought they were leasing it and I think later they discovered it was already leased. How can that happen? Does she have to return the money?
I have a clause that does not warrant any of leases. Without an exhibit that has that clause get ready for a legal battle. Many companies would write it off. She should ignore and see.
Tom, I am interested in seeing the wording of the clause you use. There are probably many other followers of the forum who are also trying to learn what we can about leasing. Would you please share with us?
Thanks
Here's the latest scoop. My sister rec'd a letter saying "I've reviewed the Canadian County Land Records, and you do not have any conflicting leases on this tract."
The lease came from Stonebriar Energy, LLC. Somehow this is related to Penterra Services also.
The phone call my sister rec'd said there was sloppy research and she was to send the money back. She's waiting for something in writing.
Some of the family members were not contacted...only 3 of them signed leases and one has not received the money yet.