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CHESNUT v. COASTAL OIL & LAND CORP.

No. 1141.

543 S.W.2d 154 (1976)

Jay CHESNUT and Elmer Halstead, d/b/a B. C. Oil and Gas Company, Appellants, v. COASTAL OIL AND LAND CORPORATION, Appellee.

Court of Civil Appeals of Texas, Corpus Christi.

Rehearing Denied November 18, 1976.

Attorney(s) appearing for the Case

Michael W. Williams, Corpus Christi, for appellants.

Ralph J. Graham, Corpus Christi, for appellee.

OPINION

NYE, Chief Justice.

This is an appeal from the judgment of the trial court finding that there was no violation of the Texas Securities Act in the assignment of an oil, gas and mineral lease. From this adverse judgment the appellants have perfected their appeal to this Court.

In 1974, Billy Williams, a local geologist proposed to appellee Coastal Oil and Land Corporation that they acquire a mineral lease on some 2,000 acres of land in Duval...

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