Sec. 8. FILING BIDS; DISCONTINUANCE OF YEARLY PAYMENTS; TERMINATION OF LEASE. If the Board shall determine that a satisfactory bid has been received for said oil and gas, it shall be filed in the General Land Office. Whenever the royalties shall amount to as much as the yearly payment as fixed by the Board, the yearly payment may be discontinued. If before the expiration of three (3) years oil and/or gas shall not have been produced in paying quantities, the lease shall terminate.
Structure Texas Statutes
Article 6077o. Leasing for Oil and Gas
Section 1. Board for Lease of State Park Lands Created
Section 3. Survey and Subdivision; Abstracts of Title
Section 4. Advertisement for Bids
Section 6. Payments Accompanying Bids; Requisites of Bids
Section 8. Filing Bids; Discontinuance of Yearly Payments; Termination of Lease
Section 9. Rentals Not Payable During Drilling Operations; Discovery of Oil or Gas
Section 10. Duration of Rights; Assignment; Pipe Lines, Telephone Lines and Roads
Section 11. Payment of Royalty and Bonus; Sworn Statement; Inspection of Books and Accounts
Section 11a. Disposition of Money Received
Section 12. Protection From Drainage
Section 13. Forfeiture of Lease; Damages; Specific Performance; Lien of State
Section 14. Filing Papers; Payments; Appropriation and Expenditure
Section 14a. Park Lands Operated by Local Park Commissions
Section 15. Payment of Expenses