Stine v. Oasis Oil Co.

On September 27, 1923, J. H. Stine and others, who were joint owners of the fee-simple title to a tract of 816 acres of land situated in Clay county, executed an oil and gas lease thereon to James Cumley. The lease designated the owners of the land as party of the first part and the lessee as the second party. It recited a cash consideration paid of $10, and also contained the following stipulations:

“1. As a further consideration for an oil and gas lease and leasehold estate covering the above-described tract of land, second party does hereby bind and obligate himself to drill at his own cost…