As long as it isn't Bakken Exploration LLC of Brighton Colorado. They were definitely scammers and flippers. Another fine LLC.
To all parties in this conversation/discussion:
Thanks for everyone's input. This is very educational.
Thanks RW and Wilson for the heads up on LLC. I think I might need one of them LLC's for myself. TeeHee.........
Clint Liles
Tripp: I have been away from this site for a while, but I do have some information I can share. We dealt with D J Resources in Denver Colorado. We received $60 bonus, 5 year lease, and 15 % royalty. I prefer that to the $150 bonus and 1/8 royalty that Shale Exploration is offering. 2.5% difference over the course of a 20-30 year well can be a lot of money. The $90 dollar difference in the bonus did not excite me. We received our checks as scheduled and they cleared without a hitch. You might want to speak with Ken Hoversland in Scobey in re legal advice. Are you related to Gil and Mary Jo Hammer? I visited the Flaxville/ Scobey area in the summer of 1963 and met them. Good folks out there.
Tripp: WE signed with DJ Resources of Denver Co. September of last year. $60/acre, 5 year 15% royalty. Short 2 page(if I remember correctly) lease, check came in a timely fashion. A $150 bonus should be a red flag in a $50-$60 dollar market. The difference in 1/8 AND 15% OVER THE LIFE OF A GOOD WELL FAR EXCEEDS THE VALUE OF A $90 difference in bonus pay. Are you related to Gil and Mary Jo Hammer? I met them when I visited Scobey and Flaxville the summer of 1963. By the way, Ken Hoversland is a good Scobey Attorney
I have to agree with rw on this one. Do yourself a favor and steer clear of Bakken and another one called Open Range. Both will be in court soon.
What's up with this company Summit Exploration? What is their offer and are they legit? They sound exciting. These guys are drillers, right?
It can't hurt to call them and see what they can do for you, but the way they have come to our attention looks like a thinly veiled advertisement. To paraphrase, only those who are serious need apply, which I take to mean only the easy marks. I already brought them to admins attention.
Ted Rothstein said:
What's up with this company Summit Exploration? What is their offer and are they legit? They sound exciting. These guys are drillers, right?
I fully agree with Mr. Kennedy. It is always worthwhile to make a call. Find out what terms the company offers, and learn more about them.
However, the thick "hype" in these recent multiple posts makes me suspicious. They are little more than thinly veiled free advertisments. So my instincts tell me you should approach that firm with great caution.
Amazon is a corporation--the subsidiaries in the various states are LLCs. Chrysler was an LLC when the Venture Capital Co Cerebrus owned the manufacturer. Chrysler is now owned by Fiat, The Unions, the US treasury and The Canadian Government.
Tripp Hammer said:
Your meandering questions do not deserve any more of my research. Find your own answers and realize that you intially referred to ALL LLCs. If your are threatening me, rest assured I do not take it lightly and will maintain a copy of this for the authorities. Your are done wasting my time.
r w kennedy said:First Chrysler, and now Amazon.com. Has anyone following this made a single transaction with Amazon.com in the amount of $10,000 to $500,000 ? I didn't realize that Chrysler or Amazon.com were in the oil and gas leasing business, who do I talk to there about leasing my minerals? I learn new things every day, I totally missed the Chrysler / Amazon oil and gas connection. I did enjoy the propaganda links to youtube, I am sure they are as true as some of the things you could see on youtube, meaning that you could find 50 people to agree to just about anything. I wonder if you read the comments after the Forbes report ? I think everyone else should, but I think you are banking on the fact that most people do little more than skim the surface. The Reuters article describes what I said LLC are frequently used for and the way Chesapeake used them. Tripp, you say Chesapeake had nothing to do with, directly or indirectly, with the happenings in Michigan, that is not what I got from the Reuters.com article. What I did get was that Chesapeake set up an LLC, LA Land Acquisition an entity with no discernable assets, which set up another LLC, Northern Michigan Oil and Gas, another entity with no known assets which hired other companies to procure the leases. Simple progression, Chesapeake has $ and creates LA Land Acquisation which has no $ and creates Northern Michigan Oil and Gas which has no $ which hires other companies to procure leases. Where did this money to hire others come from ? Did the money come from the sky or did Chesapeake provide it ? It may be a cliche but it's still true Follow The Money. Northern Michigan Oil and Gas had to get the money from somewhere to hire the companies to gather leases. The orders to reject leases came from someone working for Chesapeake with a Chesapeak e-mail address. I will admit right now that I don't care if what Chesapeake did was legal or not, I am saying that I am not doing business with an LLC in the oil and gas business. Sayng Chesapeake had noting to do with Northern Michigan Oil and Gas, is like saying I wouldn't be responsible for your death if I hired someone to kill you through at least two intermediaries.