River Trails Homeowners Association

October 20, 2008

Due to the fallout in the banking industry Carrizo Gas and Oil has temporarily haulted leasing operations in River Trails. As soon as the banking situation improves Carrizo will resume leasing and finish the neighborhood and start drilling.

Recently a few residents signed a lease with Cheaha. Those leases have not yet been filed at the courthouse. These residents WILL receive their full bonus as soon as Carrizo resumes leasing and those leases are filed.

ALL leases will be honored and paid in full.

All residents in River Trails will receive a second bonus check in the future that will include the acreage to the center of the street. That bonus check will not come until Carrizo finishes leasing the neighborhood and obtains a drilling permit. At that time construction on the neighborhood wall can begin.

Carrizo currently does not have a leasing agent assigned to River Trails. Carrizo has asked RTHA to handle all questions and information as it becomes available. Please watch this web site for future updates.

Thank you for your patients. Everything will get back to normal soon,

RTHA

rivertrailshoa@yahoo.com 

How is it that half the neighborghood that signed has been pd in full and the rest of us haven't?  When are they going to resume signing?

Candy-o, after the second round of lease signing in April, Cheaha sent out a few (less than 20) bonus checks with an additional $260 included for their part of the street. Cheaha did this without approval of the River Trails Gas Lease Committee. This payment did not take into consideration the various lot sizes or corner lots and many people would have received a reduced amount. When the committee discussed this issue, and voted on an alternate method of payment that would pay everyone exactly what their lot measures, Cheaha was asked to measure the lots and pay the FULL amount due. They agreed to do the measuring as soon as a lease pool is established and a drilling permit is approved. Everyone, including the people that got $260, will get an additional check for the exact amount due. Carrizo will resume leasing as soon as the banks free up their short term loan programs.

And the decision to withhold monies was made on our behalf by whom??? And people would decide to sign now because WHY? NO ONE ever asked ME if I WANTED MY MONEY NOW OR NOT!