Fayette County Derry Hale Property
In 1992 Shenandoah Minerals held the coal lease to a portion of Beaver Coal Company property near Metalton, WV. Shenandoah Minerals wanted to assign the lease to Anker Energy but was delinquent in paying the $25,000 annual royalty. Beaver Coal Company policy was that a lease assignment could not be approved unless all outstanding obligations of the current lessee were met prior to the lease assignment. White Oak Land Company was a company that had close financial ties to Shenandoah Minerals. Mike Jarrell, President of White Oak Land Company contacted Beaver Coal and offered to deed approximately forty acres of surface property to Beaver Coal Company if the lease assignment was approved. Beaver Coal Company accepted the offer.