The Stewmans conveyed approximately 8900 acres by warranty deed to Double M. The deed contains various reservations including the following: 'There is, however, excepted and reserved to the Grantors an undivided one-half (1/2) of die royalties to be paid. . . which are presently owned by Grantors . . ." At the time of the conveyance there were outstanding royalty interests owned by third parties so that the Stewmans did not own 100% of the royalty interests underlying the 8900 acre tract.
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