Pennagrade Oil & Gas Co. v. Martin

Opinion of the Court by

Judge Clay

Reversing.

On February 24, 1916, T. A. Martin and wife executed to A. B. Brode an oil and gas lease on 209 acres of land in Floyd county. By the terms of tbe lease the lessee agreed to locate and complete a well on the premises within six months from the date of the lease, or- pay at the rate of $1.00 per acre annually, payable quarterly in advance, for each additional three months such location and completion were delayed. The consideration was $1.00 cash in hand paid and the covenants and agreements contained in the lease. Among the covenants and agreements…