Reese Enterprises, Inc. v. Lawson

The opinion of the court was delivered by

Schroeder, J.:

This is an action for a declaratory judgment brought by the holder of an option to purchase an oil and gas lease to establish the validity of the lease. After hearing the matter the trial court refused to declare the oil and gas lease terminated for failure to produce oil in paying quantities. Appeal has been duly perfected by the defendants below who are the owners of one-half of the mineral rights in the tract of land involved. They also own the surface rights.

The various points asserted involve the provisions in the lease regarding…