Lyco Acquisition 1984 Ltd. Partnership v. First National Bank of Amarillo

POFF, Justice.

Appellants Lyco Acquisition 1984 Limited Partnership and Lyco Energy Corporation (collectively Lyco), as an overriding royalty interest owner in seven Moore County oil wells since August 1984, sued the operator of the wells, Jelmo Oil Company, for $195,-050.47 in unpaid casinghead gas proceeds. On April 30, 1991, Lyco deposed Jelmo’s president, Wallace L. Bruce. Through Bruce’s deposition, Lyco learned (1) that Jel-mo had actually issued 25 cheeks totaling $188,854.46 payable to Lyco as the owner of the overriding royalty interest; (2) that on March 10, 1986, Jelmo had forged…