In preparation for the upcoming legislative session, NARO-Texas is looking for good examples of the “royalty lease scam” being perpetrated these days. This involves approaching someone with an active lease and producing well, usually elderly, and presenting what looks to be an oil and gas lease. In return for a lump sum payment, the document is actually selling 75% of the royalty stream in the lease. The document is usually presented as a top lease. If you know of anyone who this has happened to, please contact Wade Caldwell at [email protected]. NARO-Texas is working on a legislative solution to stop these scams.
This actually happened year ago 1980 or so to an elderly women we knew. She had called my father (a O&G Geologist) who told her it was a scam and not to sell. She did not listen to him.