Trident Oil & Gas Corp. v. John O. Clay Exploration, Inc.

WILLIAMS, Judge.

Plaintiff, Trident Oil and Gas Corp. (Trident), filed suit for specific performance against the defendant, John O. Clay Exploration, Inc. (Clay), seeking the enforcement of an assignment of interest in certain mineral leases from Clay to Trident. After trial on the merits, the trial court rendered judgment for the defendant dismissing plaintiff’s demand. We affirm.

On June 29, 1990, plaintiff and defendant entered into a letter agreement whereby they agreed to purchase certain mineral leases from Pentagon Petroleum, Inc. (Pentagon) for $195,000. The signatures of the…