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CADDO OIL CO., INC. v. O'BRIEN

No. 89-4369.

908 F.2d 13 (1990)

CADDO OIL CO., INC., Plaintiff-Appellant Cross-Appellee, v. M.J. O'BRIEN and F.M. O'Brien, Defendants-Appellees Cross-Appellants.

United States Court of Appeals, Fifth Circuit.

August 13, 1990.

Attorney(s) appearing for the Case

Wm. Paul Lawrence, II, Frank H. Spruiell, Jr., Comegy's, Lawrence, Jones, Odom & Spruiell, Shreveport, La., for plaintiff-appellant cross-appellee.

Robert U. Goodman, John M. Frazier, Kennedy, Goodman & Donovan, Shreveport, La., for defendants-appellees cross-appellants.

Before GEE, POLITZ, and BARKSDALE, Circuit Judges.

GEE, Circuit Judge:

Facts and Prior Proceedings:

Mr. O'Brien acquired an interest in the Muslow KA, KF, and KJ leases in Caddo Parish, Louisiana, from Donald A. Raymond, Jr., chief executive officer and director of Caddo Oil Company, Inc. (the "Lerner Deal"). More than twenty years later, O'Brien increased his interest in the leases to 13.33% by joining with Raymond in a partition of the original leases with other of their co-owners.

In 1967...

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