Constantin v. Martin

PHILLIPS, Chief Judge.

On February 23, 1949, M. G. Martin and Kenneth A. Ellison, being then the owners of oil and gas leases covering the SW % and the W % of the SE % of S. 18, T. 10 N., R. 20 W., entered into a contract with Constantin, by the terms of which Martin and Ellison agreed to assign to Constantin such oil and gas leases, in consideration of Constantin drilling a well on the tract of land covered by such leases. The contract provided that there should be reserved to the assignors “an undivided %iths of the leasehold estate (being equivalent to %oths of the %ths gross production),…