Fort Worth lawyer John Hart placed an ad in Sunday's Star-Telegram seeking landowners who signed leases with Glencrest Resources, which says it has signed thousands of mineral rights leases in Tarrant County. [Click here to read the background.]Download glencrest.doc
Hart on Monday said none of those landowners has been paid a promised signing bonus and is preparing to go to court to get the leases rescinded. He said he has been contacted by a number of homeowners unhappy with Glencrest, organized by Fort Worth developer Leonard Briscoe Sr. The Star-Telegram has previously reported Briscoe's problems raising the money he needs to make good on the bonuses, which offered a minimum bonus of $750 per residential lot and a 25 percent royalty. Those terms were among the best reported when Glencrest launched its efforts about a year ago, but have been eclipsed recently as competition for remaining leases has escalated. Phone calls to Glencrest's office went unanswered Monday. A recording at Briscoe's personal phone said the company is establishing a call center and asks property owners to be patient.