Problems on Pool of Capital Doctrine and Farmout Transactions

What are the federal income tax consequences to each party in the following transactions?

1) Wildcat Bill, a.lessee, agrees to assign a 50% share of the working interest in the drill rite to Driller Don and a one-sixteenth over-riding royalty interest in the remaining acreage in exchange for Don drilling, equipping and producing a well free of cost to Bill.

2) Wildcat Bill, a lessee, contracts with George-, a geologist, to conduct geological and geophysical tests on the leased acreage. Bill pays George $S,000 for the work.

3) Would the tax treatment differ from Problem 2 above if George was given a onesixteenth overriding royalty in the lease in exchange for the geological and geophysical study?