Warning! to all mineral rights owners Buyer Beware! of the Oil and Gas Con Men!
With all the new activity here in Ok with the Stack and Scoop oil and gas plays has brought out the Oil and Gas Con men criminals who will at a drop of a hat take advantage of unsuspecting disabled seniors as one did most recently in our family.
I was negotiating with 3 companies who wanted to lease my and my cousins 80+nma of minerals for OGL. I was negotiating lease terms with all of them for about a month when this con/landman made an end run around me and got to my cousin directly who is and old disabled senior which is why I was handling all of this for him, and threaten him to sign his lease or he would pulled the deal as will as holding and flashing a large check in front of him to get him to sign his lease. Now he did sign this extremely bad lease, for my cousin being of limited capacity knew no better. This lease will provide most all of his royalty right back to the oil company about 98% of it.
So be aware of this and do whatever it takes to protect your family from these criminals for they are out there and will take advantage of your families seniors. This con/landman has a long history of this and still continues it. I am not sure if I am allowed to report his name but if you would like to know his name PM me and I will give it to you.
In addition to all the other illegal criminal activity of this Con/landman he also ask for and wanted a kickback of $50 per acre. He wanted us to pay him for bringing this extremely bad lease to us. Of which my cousin agreed and paid him before he even got his check of which this Con/landman demanded up front before he would deliver his check. This kickback agreement was even done in writing of which was provided to our attorney. But even though we have hard evidence of this we were not able to have criminal charges brought against this criminal, the attorney advised. Really!! what is this the WILD WILD WEST!! for the names PM me.
I might add that this lease was not only a very poor lease for the minerals rights owner but as well was for only a 3/16 royalty a 3 year with a 2 year option at same very low bonus at $1000/nma with absolutely no protection or protection clauses of any kind which is completely one sided for the oil company that provides no protection at all for my cousin. This was a Con's/landman's dream lease because any and every oil company would buy this lease in a heartbeat which took place twice before the ink was dry on it. Providing this CON/landman a very nice payday for his criminal acts.
The deals I had in the works were all at 1/4th royalty with increasing bonus amounts from a low of 1500 to as high as 2500 only a 3 year (no 2 year option) with all the many protection clauses that all mineral rights owner should all have and with a no deductions clauses with a gross royalty paid.
So my family's injuries here are great and lifelong affecting, we will never be able to recover this harm and damage that this criminal caused. I may add this lease will be HBP probably for at least 30 yrs. and maybe for 60 yrs. or more that my family and my family's family will have to live with or sell again at a large loss.
Well it's my hope that I will be able to recoup some of my family's losses here with the leasing of my 26.575nma that I have still available for OGL. I looking for a 3 year (no 2 yr. option), lease bonus amount of $3000/NMA bonus with a 1/4th gross royalty paid. With my good protective no deduction of any kind whatsoever OGL .
However since my cousins lease was for 53.6 NMA I will never be able to recoup this difference, so will just get all that I can for mine. I will not lease my minerals until pooling is filed for and may even wait to the last day of the force pooling order before I will lease. In this way I will get the best offers and deal for my minerals. Or I may auction my minerals off when pooling is filed for with Open Lease Auction who will put my minerals up for auction and obtain the best deal in this way. Again you will not get the best offers and deal until pooling is filed for and then is usually when the good offers come in.
I am receiving and have been receiving offers to buy and lease my minerals at about 2 to 3 per week for about 6 months now maybe longer. Newfield holds the majority of the lease holds in our section 4-18-14 Dewey county. I Am the only and last hold out in this section that has not yet been leased for almost a year now. My 26.575 NMA is the only available not yet lease minerals available in this section.
We are right in the middle of Newfield's and Continental's zone 2 of the Over-Pressured $TACK play. Hopefully we can and will be able to recoup some of our losses but they are huge! and extensive! and lifelong affecting.
BE WARNED! BE ADVISED! BE AWARE!