Tuesday, July 29, 2008

Haynesville Shale: local bankers advise caution

The Times in an editorial today says that the relationship between Fortress Management, Okki Industries, Chesapeake Energy and the people of Mansfield may yet work out, but still advises caution.

In reading Times reporter Vickie Welborn's first account of the controversy, the description of the July 17 Fortress-sponsored town gathering as a revival-style meeting sent up a red flag. Certainly the promises of riches could elicit a "Hallelujah!" from even the most jaded — but first, cool heads, keen ears and a few phone calls would have been wise. . . .
Two local bankers who met with The Times Editorial Board last week worry about area residents who have never handled large sums of money falling prey to bad advice, bad investments and bad people.


  1. And local bankers want 10% of your lease and 8% of your royalties for negotiating your contract.

    That's highway robbery for a pretty standard contract.


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