R. P. Fuller v. C.M. & W. Drilling Company, Inc., a Corporation

BRATTON, Chief Judge.

For convenience, reference will be made to C. M. & W. Drilling Company as the drilling company, and to Jaguar Oil Company as the oil company. The drilling company owned a part of the working interest in certain oil and gas leaseholds in Wyoming on which there were producing wells. The oil company desired to purchase the property. Negotiations resulted in the execution of a written contract of sale dated January 9, 1954. Under the terms of the contract the oil company was to pay $650,000 for the property. Of. that amount, $40,000 was to be and was deposited in escrow in a…