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AgriLife Extension offers landowners help in negotiating oil and gas leasesTexas Texas AgriLife Extension Service and the Harrison County Farm Bureau will hold a seminar, "Hints On Negotiating An Oil and Gas Lease," from 6 p.m. to 9 p.m., Sept. 18 at the Marshall Civic Center. "The main purpose of the seminar is to inform landowners about their rights and tell them how to best protect and utilize those rights," said Randy Reeves, AgriLife Extension agent for agriculture and natural resources in Harrison County. The featured speaker for the evening will be William J. Fambrough, attorney and senior lecturer from the Real Estate Center at Texas A&M University, College Station. Fambrough has more than 30 years experience in real estate law, Reeves noted. The Real Estate Center is the nation's largest publicly funded organization devoted to real estate research, according to the center's website at http://recenter.tamu.edu/info/about.html. Landowners typically have more questions than answers when approached to sign an oil and gas lease, Reeves said. "The seminar will attempt to answer all those questions you've thought of and some that you haven't," he said. Some of the questions covered at the seminar will be: How are leases handled when minerals rights are jointly owned? If a landowner leases his or her mineral rights, how are surface rights affected? What rights does a landowner have if he or she only owns the surface rights, and a mineral lease is signed by a third party? How often must the oil company pay royalty checks? If the oil company overpays royalties, who is liable and for how long? Can terms of an oil and gas lease be kept confidential? What is the difference between a lease covenant versus a lease condition? The program is free and open to the public. Refreshments will be courtesy of AgriLife Extension education clubs of Harrison County. For more information, contact Reeves at the AgriLife Extension office in Harrison County at 903-935-8413, or visit the office's website at http://harrison-tx.tamu.edu.
Date: 9/22/08 Advertisement
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