Solitations for transfer of mineral rights

My extended family has received mailings from a company listed as an LLC in Oklahoma City. This is something new I have never seen and I am concerned. The material is a set of documents for signature, including statements of acknowledgment, exhibit for all rights in Grady 15, 03N-05W, and the necessary notary requirements to transfer full title to the company. Our family has ignored this.

My concern is that vulnerable people, inheritors of rights, and some who do not understand the paperwork as being a “new” type of solicitation may think it is official paperwork that needs to be completed and/or signed. Has anyone received or seen this type of material as a solicitation ? Is this type of solicitation legal or possibly in violation of any laws in Oklahoma ?

Charlie- those are nothing more than offers. You don’t like the offer then toss in file 13, a/k/a the trash can. Nothing illegal.

Thanks Todd, we knew it was a type of offer, however without a solicitation or cover page, the paperwork might be interpreted as something they need to sign. We have had, in extended family, a few who inherited and immediately sold to the first person to contact them. Thanks for the clarification that this is not against the law. (my career was working with vulnerable people, so I am sensitive to this issue). Thanks again.

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I guess it’s not illegal, BUT it doesn’t “sound” like good business practice?? I guess I am tainted with years of Oil Men and Companies wanting to take advantage of oil leases and mineral purchases.

Just remember this is the oil business and it’s “The Wild West” out there still!!! Don’t trust anyone or the companies. O yes, they wouldn’t want to buy it if they can’t make a GOOD profit!!!

And when you sell, you have made a nice profit. For most folks, capital Gaines taxes are less than income taxes. ( Biden is doing away with that) I truly hope that your boss made a nice profit from the work that you performed. But you showed up every day, regardless of the profit your boss made from your work. That is the wild Wild West.

This type of solicitation is quite common and is legal. They are often sent out when an increased density order is issued for a section. The buying company wants to buy minerals before the selling owner realizes that new wells may be drilled soon.

Continental has an order for four additional wells in 15-3N-5W (also section 10). They are supposed to be in the Woodford. The Case number is 202001473. The original well is the Golf 1-15-10XH.

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