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EXUM v. LAUB

No. 8129.

87 F.2d 73 (1936)

EXUM et al. v. LAUB.

Circuit Court of Appeals, Fifth Circuit.

Rehearing Denied January 22, 1937.

Attorney(s) appearing for the Case

George I. Shannon, of Amarillo, Tex, for appellants.

Edward P. Marshall, of Tulsa, Okl., for appellee.

Before HUTCHESON and HOLMES, Circuit Judges, and STRUM, District Judge.

STRUM, District Judge.

By assignment dated August 14, 1931, of an oil and gas lease now being operated by appellants, as trustees for Gibson Oil Corporation, the assignor George Laub (appellee here) reserved an overriding royalty of ¼ of all gas and oil produced by natural flow; 3/16 by artificial power; "and provided further that in event the total production of all wells drilled upon said lease shall decline to a point below 200 barrels per day, the interest...

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