Asbury v. Tucker

On February 21, 1930, H. N. Tucker executed to R. R. Asbury an oil and gas lease on 80 acres of land situated in Young county. The consideration recited in the lease was $1,000 cash in hand paid; and according to the stipulations in the lease the lessee was to pay an additional sum of $1,000 out of one-fourth of seven-eighths of the oil produced from the lease, and also to drill an oil well on the land to a depth of 1,000 feet unless oil or gas in paying quantities be found at a lesser depth, and to spud in the well within forty days from the date of the lease; also to pay to the lessor…