Show i I RAVEN RA YEN PEOPLE SELL FOR HALFA HALF A MILLION Lc Leonard Company Takes Take Over Lease of ot Em Emerald hI OH Oil era Property at atRan Ran Rangely l Said to be Richest Field in United States Stales It is reported on reliable au- au that the Raven Oil Refining company the property of the Emerald Oil company compan at Rangley sold out to the Leonard company of California for half hall million dol dol- lars In addition to the Emerald lease the Raven company h has a s government leases and also owns a small acreage of land near by The TIle Emerald t property is said to be worth a million dollars The lease sold by the Raven company has yet et 16 years to run The contract provides that there must be produced annually annually annually an an- barrels of oil and that the Emerald Is to receive one dollar per barrel royalty Geologists ts are said to have declared that the Rangley RangIer field is today the biggest and most important field in the United States All AU the wells at present present present pres pres- ent are shallow shallow from from to 1100 feet The big flow will wUl b be found at greater depth The Union which went down feet years ago is said now to I be e eJust just off the structure |