Polk v. Rice

GRISSOM, Chief Justice.

In 1950, Mrs. DePrange executed an oil and gas lease on 374 acres to A. M. King. In 1951, King assigned the lease to Gris-wold, reserving a production payment of $37,400 “to be paid out of Vie of ⅞ of the first oil and gas produced from said” 374 acres. In 1952, Griswold assigned the *933lease, insofar as it covered a certain 160 acres out of the 374-acre lease, to the Mabees. In January, 19S3, Griswold reassigned said lease to King, excepting the lease on the 160 acres assigned to the Mabees. In January, 1953, King assigned the lease on said 214 acres reconveyed to him by…