Federal Crude Oil Co. v. Yount-Lee Oil Co.

The Federal Crude Oil Company was incorporated under the laws of the state of Texas, on April 23, 1901, to exist for fifty years, for the establishment of an oil company with the right to lease and purchase the right to prospect for coal and other minerals and petroleum, to erect and own oil tanks, cars, and pipes, to hold lands, and do such acts and make such contracts as may be necessary, for the operation of its business. The corporation entered upon a tract of land containing 13.8 acres out of the John Douth-itt survey in Jefferson county, in 1901, and drilled a well in search of oil to a…