4.012 Lease Cancelled By Agent
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Lease Cancelled By Agent
Authority of Agent: Sam Houston granted an oil, gas, and mineral lease to Guadalupe Production, Inc., by instrument dated September 14, 1998, and recorded in Real Property Book 1998, page 151. Stephen F. Austin, as Agent for Guadalupe Production, Inc., released this lease by instrument dated June 24, 2003, and recorded in Real Property Book 2003, page 151. The abstract did not contain any evidence of Stephen F. Austin’s authority to act on behalf of Guadalupe Production, Inc., in cancelling the lease.
Requirement: If possible, obtain proof of the authority of Stephen F. Austin to act on behalf of Guadalupe Production, Inc., in cancelling the above described oil, gas, and mineral lease. Otherwise, furnish an affidavit establishing the non-occurrence of any oil, gas or mineral development which could extend the lease beyond its primary term.
Copyright 2011 by Edward G, Hawkins. All rights reserved.