Posted On: 06/07/2013 8:56:43 PM
Post# of 39368
STICKY
tdbowieknife
Friday, June 07, 2013 7:04:30 PM
Re: pennystockpro1 post# 59092
Post # of 59111
If the leases lose the P-4 certificate they cannot get a new one while under a TNR 91.114 Flag. I was under the impression that if a operators P-5 becomes delinquent then the P-4's under that operator are no longer valid. Looks like I was wrong and Treaty can transfer the leases that are not under Severance and have a valid P-4 certificate. Treaty still loses the lease or a least a good portion of what interest in the leases they had.
Quote :
Indicates that the operator is subject to a final and unappealable Commission order or judgment which has not been satisfied. Pursuant to Tex. Nat. Res. Code §91.114, the Commission is prohibited from accepting a P-5 Organization Report filing, approving any permits, or issuing any P-4 Certificates of Compliance for an operator with an unsatisfied order/judgment of this type.
tdbowieknife
Friday, June 07, 2013 7:04:30 PM
Re: pennystockpro1 post# 59092
Post # of 59111
If the leases lose the P-4 certificate they cannot get a new one while under a TNR 91.114 Flag. I was under the impression that if a operators P-5 becomes delinquent then the P-4's under that operator are no longer valid. Looks like I was wrong and Treaty can transfer the leases that are not under Severance and have a valid P-4 certificate. Treaty still loses the lease or a least a good portion of what interest in the leases they had.
Quote :
Indicates that the operator is subject to a final and unappealable Commission order or judgment which has not been satisfied. Pursuant to Tex. Nat. Res. Code §91.114, the Commission is prohibited from accepting a P-5 Organization Report filing, approving any permits, or issuing any P-4 Certificates of Compliance for an operator with an unsatisfied order/judgment of this type.
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