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Message
re: Haynesville Shale
Posted on 7/27/08 at 9:20 pm to TigerDog83
Posted on 7/27/08 at 9:20 pm to TigerDog83
SO according to Elm Grove, if the O&G company paid 20,000/acre for an OGL on someone's land and the company drilled a dry hole, the O&G company should file suit against landowner.
1
Posted on 7/27/08 at 9:22 pm to ElmGrove
You are questioning other's intent. What, exactly, is yours?
You bring up 'information' about your educational history thatis supposed to do what? Give validity to your point? No one gives a rats arse about what you did, or what you've done. It is totally irrelevant to the situation and this argument. The fact that you're throwing it out there in a lame attempt to justify yourself only goes to further destabilize your arguments.
By the way.. in order to be a 'professor' you have to have a Doctorate. Care to elaborate on that truth?
Also, message boards do not follow MLA standards. Please don't double space your comments.
So two gigantic posts of nothing and all you have proven is that you like to double space your text. Congratulations. If you truly did gain a masters, I'd would have hoped you had taken some course work on logical fallacies. Seeing as your posts are teeming with them, obviously that's not the case. If only publicly funded institutions operated with the same efficiency of privately held ones. Such a shame.
You bring up 'information' about your educational history thatis supposed to do what? Give validity to your point? No one gives a rats arse about what you did, or what you've done. It is totally irrelevant to the situation and this argument. The fact that you're throwing it out there in a lame attempt to justify yourself only goes to further destabilize your arguments.
By the way.. in order to be a 'professor' you have to have a Doctorate. Care to elaborate on that truth?
Also, message boards do not follow MLA standards. Please don't double space your comments.
So two gigantic posts of nothing and all you have proven is that you like to double space your text. Congratulations. If you truly did gain a masters, I'd would have hoped you had taken some course work on logical fallacies. Seeing as your posts are teeming with them, obviously that's not the case. If only publicly funded institutions operated with the same efficiency of privately held ones. Such a shame.
Posted on 7/27/08 at 9:25 pm to pittboss33
No pittboss. The landowner should still sue for the dry hole. Hell's fury upon anyone that gets between him and his loot.
Posted on 7/27/08 at 9:28 pm to ElmGrove
quote:
Thanks for proving my point.
Good job.
Censorship can save America.
Blind ignorance sure as hell isn't helping..
Posted on 7/27/08 at 9:28 pm to GerryDiNardo
Dinardo is still a dumbass... 
Posted on 7/27/08 at 9:29 pm to TigerDog83
huh
This post was edited on 11/1/08 at 9:24 am
Posted on 7/27/08 at 9:30 pm to GerryDiNardo
In all fairness there are plenty of people who understand how business works sometimes and realize that the first people who leased probably will get drilled first and will begin to benefit from the real money in the royalties. It is a small minority who have chosen to vocalize about being "robbed", "cheated", etc. These are the people who need to educate themselves on how business works and quit demanding handouts. Suing oil/gas companies because the bonus prices are much higher now than when they leased is absurd. If there was lying done on an individual case basis then that would have to be decided on a case by case basis. If not then there would probably be no valid case for suit. As for the rest of your assumptions, you're not quite right on all that. And I have not made any comments directed at any individuals, nor have I taken a shot at anyone here, so none of that would apply. I've pretty much been a source of information on a lot of topics, and have tried to give answers where I see fit to help others out, albeit often in opinion form. If you are attempting to intimidate me for stating an OPINION about some of the things happening in our area right now that I don't agree with then so be it. I am not planning on suing any oil/gas company, nor do I foresee myself being sued, so this probably wouldn't apply to me as I don't personally have any interests in the whole play. I haven't defamed anyone personally nor do I intend to do so. You decided to attack me personally a bit which often happens when people cannot form a rebuttal argument. Lighten up a little bit as I certainly wasn't attacking you or anyone else. Now, back to the relevant topic of the HS. We are all blessed that something truly life changing is happening to NW LA, where things of this magnitude rarely come along. The intent of my original post in this string was that it was my opinion that some people were losing sight of how positive this will be for all of us. Good luck to all involved.
This post was edited on 7/27/08 at 11:12 pm
Posted on 7/27/08 at 9:32 pm to ElmGrove
quote:
Do you trust professor to tell you the truth? Is my intent to uphold the law and protect innocent people from being taken advantage of?
Give me a break, oh high and mighty savior of the innocent, poor and uninformed. quote:I would have never guessed based on your ramblings.
I have a B.A. in English.
Posted on 7/27/08 at 9:32 pm to Flop
quote:
Dinardo is still a dumbass...
Floppy.. the kindergarten classroom is down the hall. I hear you make amazing finger paintings.
Posted on 7/27/08 at 9:42 pm to GerryDiNardo
Posted on 7/27/08 at 9:53 pm to ElmGrove
quote:
And, as you know, these records and your e-mail address can be subpoenaed and used in a court case.
I hope you're wise enough to realize the position your putting your own personal reputation (and finances) in.
Wow.. I missed that little gem. Is that a threat? Unfortunately, we couldn't bring that to court with us because internet message board postings are not admissible to court as fact.
For those of you not up to speed (read ElmGrove).. here's a little gem of a court decision for you. Click here for the TRUTH
Posted on 7/27/08 at 10:10 pm to CAD703X
Thank you CAD. I like you a lot. When I think about it, I didn't have ANY money before this discovery; didn't even know this shale existed. Now me and my family members are a lot richer and are waiting to see if we can retire early, and make our kids' life richer. Anything other than our salaries is icing on the cake!
Posted on 7/27/08 at 11:57 pm to TigerDog83
quote:
Good luck to all involved.
+1
I hope floopy and everyone else make a mint on this and other deals (even you, elmer fudd). Sometimes spirited discussion..especially about money..can get carried away.
I think if you look back at the 50 pages here, folks are helping folks. Some of the info is useless, some of it valuable. The point that its a conversation..although its happening in printed form. Let's all take a deep breath and not turn this wonderful thread into a flame-war.
Cheers to all.
I hope we all get to make a little money here.Posted on 7/28/08 at 8:19 am to CAD703X
The funny thing to me about this debate on early lessors getting screwed is that I know numerous folks in the oil and gas business that leased personal land holdings "early" (12-18 months ago) before leases bonuses escalated to their current level. They thought they were making great deals at a $500-1000 and acre w/ 20% royalties.
If this type of suit is allowed to succeed it will trancend into other types of transactions, such as real estate with disaterous effects.
If this type of suit is allowed to succeed it will trancend into other types of transactions, such as real estate with disaterous effects.
Posted on 7/28/08 at 9:38 am to DandyPimp
Yep, I know several oil people, as well, who leased for platry sums (based on current prices) and were flabbergasted to get that much at that time.
What's funny about this whole thing is that many oil/gas people are much more likely to take a good offer than some landowners. We understand the risk involved in holding out. Mind you, everyone wants as much as they can get, BUT we also know that things can change. For the worse. It can go both ways. Nobody has a crystal ball and in this play of all plays, some will win and look like geniuses and some will lose, looking like fools.
It's quite an interesting drama.
What's funny about this whole thing is that many oil/gas people are much more likely to take a good offer than some landowners. We understand the risk involved in holding out. Mind you, everyone wants as much as they can get, BUT we also know that things can change. For the worse. It can go both ways. Nobody has a crystal ball and in this play of all plays, some will win and look like geniuses and some will lose, looking like fools.
It's quite an interesting drama.
Posted on 7/28/08 at 10:57 am to TigerDog83
T-d:
This post was edited on 11/1/08 at 9:25 am
Posted on 7/28/08 at 11:11 am to ElmGrove
I think thats the longest post I've ever read on TD!
Posted on 7/28/08 at 11:11 am to ElmGrove
ElmGrove, you really have a unique posting style. Message board posts should be clear and consice. Your posts are neither. IMO your style distracts people from the real topic. Also no one cares what you were or what you do.
Just my 2 cents.
Just my 2 cents.
Posted on 7/28/08 at 12:06 pm to Pierre
Come on guys...an excellent thread has devolved into drivel. I would like to thank TD83 for his/her contributions....but you put yourself in the line of fire when you went politiking.
I have a family member south of Mansfield who signed for $250/ac, she said the landmen were practically hangin from the eaves of her home. Now do we really need to enact legislation to protect her! Another family member is knockin down $20k/month in royalties from a similar lease...is she a victim too?
But most importantly, note well that O&G must offer one-eighth royalties to the landowner as a matter of public policy. So there are default rules in place to protect the unsophisticated. Should O&G be forced to offer royalties more by default? You need to call your representative on that one.
This post was edited on 7/28/08 at 12:27 pm
Posted on 7/28/08 at 1:18 pm to Rantavious
In Louisiana mineral law, oil and gas is considered a fugacious mineral. Fancy word meaning migratory. Oil and gas migrates through the rock formations to the wellbore and comes to the surface. Oil and gas in the ground are not owned until captured. Which means a well needs to be drilled to capture it into a tank or a pipeline. Its only value in the ground is what someone is willing pay for it... and that it's even there in commercial quantities is not determinable until it's drilled. It's not captured until drilled and there is much risk involved to capture it and even more risk to keep it coming.
It's not like real estate, which can boast the legal term lesion for rescision beyond moiety. That means something like "cancelling a contract due to being paid less than half the current market value." Because market value can be determined in real estate. It's stated in each contract. Thus, an appraiser can give you market value for land. (Which is highly variable if mineral rights are involved along with the land.)
For oil and gas, nope. The value is whatever someone will pay you. Which is highly speculative and open to much interpretation. Also, it largely cannot even be determined. (Back to the principle of capture.) Value is simply a buyer's willingness to pay x-amount.
It's not like real estate, which can boast the legal term lesion for rescision beyond moiety. That means something like "cancelling a contract due to being paid less than half the current market value." Because market value can be determined in real estate. It's stated in each contract. Thus, an appraiser can give you market value for land. (Which is highly variable if mineral rights are involved along with the land.)
For oil and gas, nope. The value is whatever someone will pay you. Which is highly speculative and open to much interpretation. Also, it largely cannot even be determined. (Back to the principle of capture.) Value is simply a buyer's willingness to pay x-amount.
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