Mr. Davis owns the mineral rights in some land in Texas. He leases the land to Aggie Oil Company, reserving a 1/ 5 royalty. During 2006, Aggie Oil Company makes the following assignments:

a. To Mr. Jones, an ORI of 1/7 of Aggie’s interest.

b. To Mr. Brown, a PPI of 30,000 barrels of oil to be paid out of 1/4 of the WI’s share of production (i.e., Mr. Brown gets 1/4 of this production until he receives a total of 30,000 barrels).

c. To Mr. Smith, a joint working interest of 1/3 after giving consideration to all the above assignments. Assuming production is 45,000 barrels, calculate each owner’s share.