HUXMAN, Circuit Judge.
In 1942, A. (Ace) Gutowsky had acquired oil and gas leases on approximately 8000 acres of land in what is now known as the West Edmond Oil Field in Oklahoma. The consideration for these leases, at least in part, required Gutowsky to drill a well on the acreage by a certain time. Shortly before the expiration time for the commencement of drilling operations, he staked a location and erected a rig on one of the leases. Gutowsky was without funds...
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