Poindexter v. Lion Oil Refining Co.

Plaintiffs below sought to cancel two oil and gas leases on lands owned by them. Producing oil wells had been completed on lands immediately adjoining plaintiff’s lands and were producing in large volume. The defendant, Lion Oil Company, holds the leases on plaintiffs’ lands, and has refused to drill on them and has announced that it has no intention of ever drilling unless further exploration in the field by some operator other than itself discovers producing formations other than those from which production is now being had on the adjoining lands. Its experts are of the opinion that wells…