Earlier this year, I signed a lease offer, and then it was not filed. I have now been offered another lease from a different oil company. I would like to hear from someone who has some knowledge of Todco Petroleum.
Were you paid for the lease? What state? Oklahoma?
No, we were not paid by that company, Avenay. Yes, we have 8 acres in McLain County, OK. This new offer is from Todco, and I am reluctant to accept the offer until I know more about this company.
Did you sign the actual lease or just the letter of intent? If you signed the lease and it was not filed, request by certified mail return receipt that they return the lease since you were not paid.
Todco has been around a long time. They are a leasing agent for another company.
Never hand over a lease without getting paid the same day. You can sign a lease and have a third party such as a lawyer or accountant hold it until the bonus is paid. Then they turn over the original lease.
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