I sent 30 day letter on July 7. Didn't get check until August 14th which i refused.
Original lease said they have 150 days if bonus is not received then 30 day letter has to be sent.
Addendum said lessor to be paid in 120 day with no rule for 30 day letter.
I reall want to get out of this lease. Am I good to go??
where is you lease located?
ohio
Tom:
I would analyze the wording in that lease with a fine tooth comb before taking action to get out of the lease. Further, you might want an experienced oil and gas attorney to read the lease also and have all your documentation available.
Sounds like you should be able to get out of the lease; but, I suspect you will have to have an attorney put pressure on the company to get a release. I really have one question though. Did you use an attorney when you signed your lease? I'm definitely not trying to drum up business for attorney's, especially since many of them are either real money grubbers or as crooked as some of these companies; but, my experience is that if a lease is to ever be signed, then an attorney must be involved. If signing the lease isn't worth enough to use an attorney, then IMO, the lease shouldn't be signed at all. Mineral owners, especially mineral owners with limited acres sure don't have enough clout by themselves to get the attention of these people playing the leasing game, whether it is an oil company or just a group of people wanting to flip your lease.
it was with a landgroup ran by former judge and attorney. But what do they care they get $200 an acre. i tried calling the landgroup but they just say we have nothing to do with it. We are just signing agents. Told me to send a letter to the company.