Hey JRT, I am a fellow investor in Gushers.
Devon is requiring these stipulations for 12, 13, and 14. Everyone I know has signed the stipulations.
Points to consider:
1. Whether you sign or not, as a working interest owner you are still on the hook for your proportional share of expenses and drilling costs.
2. You will not receive any revenues until you sign. None! But you will still receive bills. Your only hope to get ahead of the bills is to start receiving checks.
3. Devon required similar stipulations for the Dudek wells in 12 and 13. As soon as *every* participant signed their stipulations and they were recorded with Devon, division orders were issued and revenue flow started for the Dudek wells.
4. Nobody will receive revenues from 14 until all participants sign. This is Devon's rule, not Superior's.
5. The stipulations are essentially an acknowledgement between you, Logan County, and Devon that you agree to your net revenue interest calculation, including the 0.75 interest that was in your and my original contracts. It seems that Superior and Cactus both have to sign off on this because assignments for this offering came originally from both Superior and Cactus.
6. You will get paid the same amount regardless of whether Cactus is involved or not. That is your 0.75 interest. The 50:50 split between Cactus and Devon applies only to the 0.25 royalty part, which you aren't entitled to in any case per your contract.
So think hard whether you or any other Gusher wants to sit on their stipulation. You are hurting yourself, as well as all the other Gushers and arguably the SIOR shareholders.
