Show Y WELL 1 MYSTERY New Boom Is On and New Town Likely tr- tr While official Information Is dill II there eem to be little doubt that oil In commercial quantities has been found In the tel o. o 1 Amazon well In the Rangely field Equipment to test teet out the flow In the thC lower Dakota sands III Ic tow ow on the waY t the e well and It le Is understood theta thata teet will be made within the next week a CraIg Colo Co newspaper hundred and fifty f feet et of the oil bas been baled out of the well and It ItI j Js Is reported to have been very high I fj grade running from 40 to 60 50 gravIty N Newe s 1 whIch has hall leal leaked ed out has started a small email boom In Rangely leases and nd v Stock of the Raven OIL corn com If pan pany a small email corporation which holds I acreage all over the field bas lias rocketed from 1 per share to 4 per share tn in the past ten days with none to be had at the latter figure A A amount of the stock Is held In Craig The news newe has bee alto also turned the eyeS of oC reita to Rangely and there a possibility of one one- or more townsite Ie being II started there I the luI f. f t re r t fortnight t I A dozen or more Craig r j JUen nen are In putting branch br II s i Into the new field I f tubing n and packer pumping pf been ordered for the well which In a measure confirms reports that I strongly saturated sand was In the Amazon test teat It Is also alco re- re 1 t ported that the bureau of mines mince In- In 2 f y has visited lilted the lease which Is I t 1 1 government land and given for handling the well The welt well Is located on a permit held by H. H V. V W. W 1 Gray In the I southeast s section cUon 24 4 township north range west ett The lii Texas company Is said to have penetrated the Frontier sand and found a 11 small quantity of oil Speculation Is still rite rife as to whether hether the Associated I Is in Inthe the Dakota sand orthe or the top Of the Morrison series I elating that the formation Is th the It If this proves correct the I Is- Is the list first In this section to reach Oth It i Is likely to lead to es' es drilling In all the fields of north north- Colorado t since Ince 1924 when hen the Moffat field P i first known to be a big commercial haS haS' there been such excite excite- i lil among the oil In this tL- tL te Uon The Rangely field Is a huge huget t bigger than Salt Creek by lt Ull geology and oilmen have al- al that It if sand and production ere cre dIscovered all former oil booms 4 1 elate a would be e dwarfed teW ur Craig Is the nearest es r railroad point to n which is In an Isolated section northwestern Rio county Interests are now work work- Og g on a a. a plan for a cutoff road from rom Eli Ute Victory highway which would the route still more and place Just ninety nine mites from highway AmOng the now new business ventures now being talked for Rangely are a lumber r rd pool ball lall two restaurants a hotel ya 11 lIen gen ral store drug store and picture Grand Orand junction is equall excl ex- ex cl Cited d about the prospects at Rangely as js J. Craig CuiA and Is said eald to be behind several sev- sev sTat eral business ventures in the new field A |