[Letter from Hale Schaleben to Thomas L. James, February 12, 1954] Page: 5 of 6
3 p. ; 28 cm.View a full description of this letter.
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Mr. Thomas L. James
February 12, 1954
Page -3-
There is absolutely no question in my mind but that Mr. Smith will drill
a well. He told me that he was sure that he could get Mr. Seltzer of
Southwestern to agree to drill a well within a year, but that if he
should fail to do that, he felt sure that he would drill the well anyway;
however, because of the peculiar circumstances outlined above, he cannot
positively obligate himself at this time to drill the well. His only
positive obligation is one under which he will lose the $7500.00 in
the event the well is not drilled as abbve stated.
I would appreciate your contacting the owners with regard to this
proposal and if the leases prepared meet with their approval, kindly
procure their execution, and as soon as they are ready for delivery,
you may advise me, and I will deliver to you the executed collateral
agreement, a copy of which is enclosed herewith, together with checks
for the bonus payments.
In preparing these instruments, I have assumed that there have been no
changes in ownership since we prepared the last oil and gas leases
which were the ones involving the Smith 4,919.99 and 1,004.11 acre
tracts. If there have been changes in ownership, of course, appropriate
changes will have to be made in the enclosed instruments.
With best personal regards, I am
Sincerely yours,
Hale Schaleben
HS:lm
Encla.
cc: Mr. H. R. Smith
P. 0. Box 98
Alice, Texas
C
0
P
Y
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Schaleben, Hale. [Letter from Hale Schaleben to Thomas L. James, February 12, 1954], letter, February 12, 1954; (https://texashistory.unt.edu/ark:/67531/metapth1151917/m1/5/: accessed August 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rosenberg Library.