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Buddy lessee executes a standard oil and gas lease with Sophia, a landowner, in exchange for a 1/6th royalty and a $1,000 bonus payment. The

Buddy lessee executes a standard oil and gas lease with Sophia, a landowner, in exchange for a 1/6th royalty and a $1,000 bonus payment. The lease contains a 5 year primary term and is cancelable upon cessation of production in commercially marketable quantities. Does Buddy have an economic interest in the oil and gas?

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