Signed leases with this firm in November of last year to lease rights in the section mentioned above. Have not heard anything in months and they will not return my phone calls or emails. Anyone have any experience with this firm? What are my options for getting a resolution to this situation?
Thanks
Are you trying to get paid? Your lease was filed in October. Did you have a payment draft? Is the time frame over? Have you sent a certified return receipt request for payment? Keep a copy of all of your correspondence. Next time, do not turn over a lease without getting a check. Many companies file the lease and then try to flip the lease and use someone else’s money to pay you.
There have been some recent posts on the same situation. Search Mr. Winblad’s name. I think he had several comments.
Didn’t see where it was filed under the name Stuart in that legal description. McClain County Search Page. Still you have a lease out there that could be filed. I would file an affidavit rescinding the unfiled lease for lack of consideration.
Yes, there a bunch of us trying to get paid. We never had to hold lease until paid before. The timeframe for the lease is three years. We have not sent a certified receipt request for payment. How would we word the request? Another relative told me you were an expert dealing with these leases and your comments are excellent, so any help you could give us would help.
Thanks
Keith Finch
I did see a lease filed under Finch, so was assuming that was yours.
First check through all your paperwork associated with the offer and your signing of the lease. Did you have any draft payment letter that you signed that had a particular time frame associated with it? If so, then you have to abide by that and follow the instructions that go with it. Make sure you send by certified return receipt mail and keep a copy of everything.
If not, then you need to write a respectful letter to the company listed on the lease (may not be the same company as your land man was from) requesting payment. Send by certified letter return receipt. If I were doing that, I would give them ten business days. Tell them that you will file for non-payment of lease with the county after that date and request that the lease be rescind due to non payment. You may have to get an attorney involved in order to do that.
What kind of amount do you get from a forced pool solution? Is it usually higher or lower than one done separately through an individual lease? Is it usually a fair amount? Keith Finch
Poolings depend on several factors so you won’t know until it is filed. No pooling prices in your township to-date but in 6N-2W they went from $200-$900/acre when selecting at 3/16th royalty.
Based on what I have leased things for in the past, I think you will make more getting force pooled than leasing early. You have to think, everybody leasing way ahead of time, is re-leasing to somebody else!
Where can you review the areas that have been forced pool and the details of the forced pooling?
Theoretically you can review force pooling orders on the OCC website. The problem with the document imaging site is that you can’t search by legal description.
They have another site where you can search by legal description, but you have to install jinitiator to search and view the documents. Maybe someone here can give you useful instructions to this site.
Most folks use a commercial service for searches, which involves payment of a fee,
Frank Phisch, what is the commercial site? I can’t get the OCC website to work on my computer.
The website always seems to have issues! I have always felt it is a conspiracy to keep individuals from getting the info the big players get !