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Show FARGO OIL CO. 1 EXPANDS HELD Purchaso. of 40 acres of proven oil land, the lease having a well capable of producing 100 barrels of oil a day without shoe. ting, hae been announced by the Fi.r. 'H company. In which a number of gdcti peoplo are stockholders. stock-holders. The Caaptr, Wyo.. Tribune says of the deal: The land comprises the southwest quarter of the southeast quarter of Section 6-39-78. adjoining a lease which sold at the government auction I i t .lun. for $226,000. "Transfer of the property involved a deal that ran into thousands of dollars, dol-lars, it is said. This proven acreage and production, produc-tion, together with the tremendous commercial gas and oil deposits which h:ive been developed by the company In the Poison Spider and South Casper Cas-per Creek fields, make the Kargo company com-pany one of the large Independent producing pro-ducing concerns In the state und adds materially to the possibilities of the company. "Under the tems of the transfer the Fargo company assumes control of 89 per cent Interest in the 40 acre tract. The lease automatically makes effective effec-tive an operating agreement, with the Western States Oil and Land company, a Standard subsidiary, lor tho development devel-opment of the property on a &0-50 working agreement. "The 50-50 agreement is exclusive of the first well already developed, a producer acquired w ithout c oat to the Fargo company. The Fargo company under tho terms of the purchase gets advantage Immediately of tho production pro-duction of the well and of the oil stor-ftfje stor-ftfje which has resulted from this production pro-duction "The venture on the 40 acre tract la the firm st taken by the Fargo coru-pany coru-pany to obtain proven acreage In the Salt Creek field." |