1. Lynx Oil Company acquired a lease on November 1, 2019. The lease agreement is for a three- year primary term. 1.a. Lynx began drilling operations on May 1, 2020. Drilling operations continued until the well was determined to be a dry hole on July 23, 2020. Would the first delay rental payment be required? Yes No 1.b. How many more delay rental payments would be necessary to hold the lease if no further drilling takes place? 01 02 Assume instead that drilling operations began on July 1, 2022, and the well was completed on November 30, 2022 as a successful producing well. The lease was initially acquired on November 1, 2019, and the lease has a three-year primary term. 1.c. Did the lease terminate on November 1, 2022? 1.d. How many years will the lease continue, assuming production in commercial quantities? 05 Until the well no longer produces in commercial quantities Until the next well is completed