AboutJames H. McConnell, CPL Expertise READ CAREFULLY BEFORE ASKING ME A QUESTION
I will try to answer questions about oil & gas leases, minerals, royalties, and servitudes, if the questioner has provided a good description of the lands. I require a section, township and range for any land not it Texas. I require a survey name and an abstract number if the lands are in Texas. I will answer questions about offers to lease or purchase mineral interests only if all terms of the offer are in the question, including the term, the royalty and the amount offered. Failure to provide this information will result in the question being rejected.
I have answered more than 2300 questions on this site and get as many as fifty in one day. I do not have the time nor am I inclined to deal with detailed questions requiring an attorney. I am not a substitute for an attorney. If you do not write in a cognizant form, I will reject your question. If you have done real research and have a question I find interesting, I will answer it. If you haven't done any research on your own, I will not do it for you.
If you do not rate the first answer, do not send a follow up, because I will reject it. If my time means so little to you that you feel that you cannot take your time to rate an answer, I do not have time to answer another question.
Experience I have been a Professional Landman for more than thirty five years. I have drilled and operated oil & gas wells in Louisiana and Texas and an familiar with the rules and Regulations of the Texas Railroad Commission and the Louisiana Department of Conservation. I have testified in court as an expert witness.
Question I signed a lease with Paloma in Nov. 2007 for 25% royalty and signing bonus of $5,000/acre. My property is located in Fort Worth, TX, 1.13 acres. It took 5 months for me to collect after multiple follow-ups with Paloma. In the meantime, I got another offer from XTI: $25,000/acre, 26.5% royalty. How can I back-out from the contract that I signed? The check that I JUST received haven't been cashed yet nor the envelop been opened. When I contacted Paloma and told the situation, they said I can't back out since the lease I signed had already been recorded. Can I really not back-out of the lease? What are my options? Thanks for your help.
Answer You cannot back out of an oil & gas lease anymore than you can back out of a loan agreement or any other contract. The company tendered you the money and you executed the lease in front of a notary. It is a prima faciae document, meaning that it is a self proving document. It stands on it's on.
