Opinion ID: 168824
Heading Depth: 3
Heading Rank: 5

Heading: The Pauley Petroleum Assignment: Tract 10

Text: 23 In October 1965, the Bank, in its capacity as executor and testamentary trustee of Luthy's estate, assigned the entire interest in Tract 10 to Pauley Petroleum Company. In return, Pauley Petroleum assigned a 1/8 overriding royalty interest in production from the tract to the Bank as executor and testamentary trustee of the Luthy estate. Neither assignment mentioned the other beneficial interest holders in the Lease. The record does not contain any further evidence of activity with regard to Tract 10 until 1994, when Mr. Butt executed a term assignment of his interest in the tract to Logro Corporation, with a reservation of an overriding royalty interest.