23 Miss Hawkins owns the mineral rights only in a property in Garvin County, Texas. She leases the property to Garth Petroleum, reserving a 1/5 royalty. Garth Petroleum drills a successful well and begins producing oil. Revenue from the first year of operations totaled $30,000 and costs of development and operation totaled $175.000. How much revenue will each party receive? How much of the costs will each party pay? Ethan Oil Corporation owns 100% of the working interest in an oil and gas lease located in a remote area of Wyoming. The royalty on the lease is 1/8. Ethan Oil does not have the funds to develop the lease and decides to assign the working interest to Tritium Oil Company, reserving an interest that will pay 1/5 of 7/8 of gross revenues but where the Ethan Oil will pay none of the operating costs. REQUIRED: What kind of interest has Tritium acquired? What kind of interest has Ethan Oil retained