Wednesday, July 22, 2009

Haynesville Shale: Dogwood Homeowners Association sues Twin Cities Development

Dogwood Clubhouse Corp & Dogwood Park Home Owners Association, Inc. (DCC & DPH) filed suit this morning in Bossier District Court against Twin Cities Development LLC (TC) for breach of contract.
The suit alleges that Twin Cities had agreed to the following lease terms:
¼ royalty
3 year primary term-2 year secondary term
Mutually agreed to lease form
$50 p/acre shut in royalty
Release lands below 100 ft. below
base of producing formation
and $15,500 p/net mineral acre for bonus
  • A letter confirming this offer dated September 5, 2008, was signed and sent by
    TC to DCC, DPH, and other parties.
  • On December 12, 2008, Twin Cities through Mr. Neil Brattin told DCC and DPH through Sue Landry, by telephone, that the $15,500 p/acre would not be honored.
  • By letter dated January 6, 2009, from Mr. Brad E. Wilkerson, attorney for TC, to
    Mr. Don Brice, attorney for DCC and DPH, TC basically refuses to execute and follow
    through with the lease and payment. Instead, a new lease at a much lower price is
  • By letter dated January 20, 2009, from Mr. Donald Lee Brice, attorney for DCC
    and DPH, to Mr. Brad Wilkinson, attorney for TC, a demand is made upon TC to honor
    its agreement and close the transaction as agreed to at the September 4, 2008, meeting.
  • TC has refused to consummate the transaction to date.
  • In default of its agreement, TC is indebted unto the two corporations for damages
    as follows:
DCC $15,500 p/acre X 60.763 = $940,431.50
DPH $15,500 p/acre X 43.658 = $676,699.00
Wherefore, Petitioner DCC
Prays for judgment against TC in the amount of $940,431.50
Plus interest from date of judicial demand plus court costs.
Wherefore, Petitioner DPH
Prays for judgment against TC in the amount of $676,699.00
Plus interest from date of judicial demand plus court costs.
The plaintiffs are represented by former Judge Dewey E. Burchett, Jr.

1 comment:

  1. Good to see the old judge out kicking ass again - hope he is successful


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