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MAYFIELD v. H.B. OIL & GAS

No. 62289.

745 P.2d 732 (1987)

Kenneth Ray MAYFIELD, an individual; and Capps Oil & Gas, an Oklahoma general partnership, Appellees, v. H.B. OIL & GAS, an Oklahoma Corporation, and Howard Braymer, an individual, Appellants.

Supreme Court of Oklahoma.

As Corrected November 6, 1987.

Attorney(s) appearing for the Case

Crowe and Dunlevy by Harry A. Woods, Jr., Kelley C. Callahan, Oklahoma City, for appellants.

Durbin, Larimore & Bialick by James K. Larimore, John F. Cooper, Oklahoma City, Joseph C. Long, Norman, for appellees.

Pray, Walker, Jackman, Williamson & Marlar by S. Erickson Grimshaw, Nancy C. Hanania, Tulsa, for amicus curiae.

DOOLIN, Chief Justice.

Kenneth Mayfield and Capps Oil & Gas [investors] filed an action for rescission under the Oklahoma Securities Act, 71 O.S. 1981, §§ 1-501, for sale of unregistered securities involving fractional oil and gas working interests in five wells sold by Howard Braymer and H.B. Oil & Gas, Inc., [issuer]. The parties stipulated in the trial court that this sale of undivided working interests...

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