Groebl v. Walker

McCLOUD, Chief Justice.

The issue is whether under the facts presented interest charges are a part of “the costs of drilling, testing, completing and equipping” certain oil wells drilled pursuant to a written agreement and assignment.

On November 8, 1962, W. C. Kinkel assigned to Ted 0. Groebl, A. E. Walker, Sr., and A. E. Walker, Jr., two oil and gas leases. Thereafter, on December 17, 1962, A. E. Walker, Sr., A. E. Walker, Jr., and Ted 0. Groebl executed an “Assignment and Agreement” whereby the Walkers assigned to Groebl all of “their right, title and interest” in the two leases, “SAVE AND…