T. G. Shaw Oil Corp. v. Parker

DUNKLIN, Justice.

This appeal has been prosecuted by the T. G. Shaw Oil Corporation from a judgment rendered against it in favor of R. C. Parker for drilling an oil well which proved to be a ■áry hole.

The parties had entered into a written contract in May, 1980, by the terms of which Parker agreed to drill an oil well in Young county to.a depth of 2,650 feet, unless oil or .gas should be discovered in commercial quantities at a shallower depth, and to finish the well on or before October 10, 1930, for which the plaintiff agreed to pay therefor the sum of $1,000, “in the event said well when…