They already know

They already know about the leases others have signed. Others have signed less than 400 homes out of 1500+ homes in our neighborhood. Researching title simply allows them to make an offer to those who are eligible.


By Committee Member

am I wrong??

It is my understanding that once someone signed a lease they are locked into those terms even if that company does not end up doing the actual production. Won't Carrizo have to honor those agreements with Dale?

Existing leases are still valid

Yes, if you already have signed a lease, that lease is binding. Carrizo will pay you based on the terms of that lease. Everyone else will be paid by the terms of the new lease.

Just to clarify

If you sign a lease with one company but a different company drills, the 2nd company will not pay you unless they buy out your lease from the 1st. This might happen if they need your property to have a straight line to drill. It might not if they don't.