Pan Oil & Gas Exploration, Inc. v. Kelt Kansas, Inc.

Elliott, J.:

Pan Oil & Gas Exploration, Inc., (Pan Oil) appeals from the trial court’s ruling on its petition for declaratory judgment against Kelt Kansas, Inc., Kelt Energy, Inc., and American Express Bank, Ltd., (defendants) concerning the interpretation of a document assigning an interest in an oil and gas lease.

We reverse and remand for further proceedings.

The essential facts are undisputed. LCO, Inc., acquired a 7/8 working interest in an oil and gas lease in Montgomery County. *122LCO, in 1976, assigned all its interest in the lease to E. A. Berry, subject to the following reservation:

“This…