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PIAMCO, INC. v. SHELL OIL CO.

Nos. 85-2251, 85-3207.

799 F.2d 262 (1986)

PIAMCO, INC., an Illinois corporation, Plaintiff-Appellee, v. SHELL OIL COMPANY, a Delaware corporation, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided July 29, 1986.

As Amended September 11, 1986.

Attorney(s) appearing for the Case

David P. List, Eugene A. Schoon, P.C., Sidley & Austin, Chicago, Ill., for appellee.

Larry R. Eaton, Peterson, Ross, Schloerb & Seidel, Chicago, Ill., for appellant.

Before WOOD and COFFEY, Circuit Judges, and SWYGERT, Senior Circuit Judge.

SWYGERT, Senior Circuit Judge.

Plaintiff-appellee Piamco, Inc. is in the business of assembling mineable coal properties by acquiring coal leases from land owners. By October 1974 Piamco had acquired coal mining rights to 5,228 coal-rich acres near the town of Elkhart, Illinois. On October 24, 1974 defendant-appellant Shell Oil Company and Piamco entered into a Coal Reserve and Royalty Agreement ("the Agreement"). Under the...

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