Okay, this is in the letter I got from a Land Company, wanting me to sign and send back. But I'm new to all this, and not quite sure what to do.....Any advise would be greatly appreciated...
Is the letter for leasing or is it to purchase? You need to find out prices on those sold and those leased near you. Don't sign anything until you have all the info you can get. If you need more help let me know. John
Christi -
Nothing was attached.
Charles
Christi, more information is needed for the good people on the forum to help.
Since it is not clear that you even knew of the possibility of this well, this link http://imaging.occeweb.com/OG/Well%20Records/1DD2EEF9.pdf is the permit to drill, and this link http://imaging.occeweb.com/OG/Well%20Records/1DD318FD.pdf is the spud notice.
If this letter from the Land Company is your first knowledge, you may want to search through the names beginning on page 32 of "Exhibit A" of the application for this well, for an ancestor. This is the link http://imaging.occeweb.com/AP/CaseFiles/occ5183612.pdf
Thank you! The Land Company had researched, and gave us our Great Great (maybe another great, not sure) grandfather, Elmer Gherardini. Our Grandfather's brother, O.A. Holdren, had no children. They are both on this Exhibit A. Also, there is Florence Gherardini and Virgie Holdren. So what does all this mean? I thank you guys so much for helping me. Both my Grandfather's were in the Oil Business. My Grandfather, W. O. Holdren worked for either Kerr or McGee, ultimately both when they merged. My other Grandfather, Woodrow Nelson Estel, was high up in Dowell, I believe also the "Hatchet" man, as he was once called.
Christi - So you didn't know about this property until the letter? You still have not been clear as to the content of the letter. I could make a guess, but it would be better if you could tell us for sure. And did it mention the net mineral acres (NMA) involved?
Almost certainly the interests of the people you named above have been pooled by Continental. This link explains a bit about pooling http://www.occeweb.com/ap/pooling.html . Since there is no one to select among the options set out in the pooling order, the default of maximum bonus/minimal royalty is selected for the "...heirs, assigns..." etc.
I will try to find the the pooling orders tomorrow. What all this means is there is most likely money in the Mineral Owners Escrow account in the name of the those people you named. More on this later.
Attached is the letter from Jackfork Land. We received a previous letter, but I didn't get that from my sister yet. Sorry it's taken me a while to get back with you. I had heat stroke over the weekend.
1082-JackforkLand.pdf (380 KB)Sorry!
1081-JackforkLand.pdf (380 KB)Please see attached
1080-JackforkLand.pdf (380 KB)Hi again Christi-
There has been a pooling order issued for this well. I think that this is particularly important because of the bold and underlined portion of Ms Hatcher's next to last paragraph.
Pooling Orders must be responded to within 20 days of signing by the Commission, which was July 16, 2015. See Order #643145 on the following link for the 20 day statement (this order is a correction of a typo on Order # 642598, signed July 1, 2015, in which unleased mineral rights owners are notified of the pooling options).
This link is to http://imaging.occeweb.com/imaging/OAP.aspx which is the Oklahoma Corporation Commission imaged documents page. Enter 201501193 in the Case # field, then click the search button. You will see both of the orders, as well as the application and other filings for case 201501193.
Perhaps Ms Hatcher will be helpful and explain what relevance the pooling deadline has to her offer to lease the interest of you and your sister. Just my opinion, and probably that of many others others on this forum, is that the 25% royalty and $125 bonus is preferable, depending upon your financial situation and the amount of interest owned.
More informed members of this forum can help you with what all this may mean. I did look up the names Gherardini, Holdren, and Estel on the Mineral Owners Escrow account registry and the State Treasurer's Unclaimed Property websites, and could not find any reference. You should probably check these again at a later date.
Good luck. I'll be watching the completion reports for this well.