Bisbee daily review., 1919-11-09
 INTEREST KEEN
 IN TEXAS O|L
(From the Boston Financial News)


 As the development of the Texas
 oil fields progresses the more con- vinced one becomes of the great possibilities that exist in that state
 for the opening of new and rich
 pools of high-grade oil. The news
 published in the Boston Financial News yesterday that a new pool
 had been discovered five miles south
 west of Iowa Park, or twenty-five miles from Burkburnett, is bearing out the opinion of practical oil men that there will be a succession of new oil pools discovered in various parts of the State. The latest dis covery is important because it means an extension of a field. already partially developed, in another direc- tion. Cc
 Hast spring the urk-Waggoner well-now the Ryan Petroleum-was brought in in the northwest exten- sion of Burkburnett and the owners of the property sold out their S6O, ,OOO company for S2,OOO,0OO cash, or $3,- 33993 for a $100 stock. The latest discovery proves the extension of the Burkburnett field % miles south west from the original discovery Fowler well, the shareholders of which company received $15,000 for each $100 put into the company. The owners of the new well, which is on a 500-acre tract owned by the Kemp-Munger-Allen Company, have seen their stock advance in two days from $20 per share to $2OOO and the top of this stock is probably much above this figure, for it is just as like as not that subsequent wells to be drilled will show larger flow than the 1000 barrels shown by the first uncompleted well.
 That New England was not awake 1 to the possibilities in the Texas | fields until last spring is very evi- | dent from the fact that little or no l New England money could be found 1 in Texas in the early part of this | year and this despite the fact that there had been great excitement in | the Texas fields since early in 1917. | That New England is gradually | awakening to the great possibilities | in the southwest oil fields is shown by the fact that there are perhaps | twenty different companies or groups in Boston alone who have become financially interested in the Texas fieldsg and others are investigatin | the possibilities. Early this year the number of Boston interests looking to Texas for oil possibilities could be counted on one hand
 A factor we'll noting in the Texas situation is that all the sensational in that state have been in the north central part and been in the north central part and chiefly for the reason that the territory there has been pretty well proven as oil bear ing All the fields in the very north are easy for drilling as the oil is found at the shallow depth of 2O0O feet or under. In the Ranger and the Desdemona fields the depth is around $500 to 4,OOO feet which is more expensive drilling beeaT Tse of the fact that after 2.5OO feet is drill ed the progress is slow.
 Tn view of the fact that the very active fields in Texas are not more than 100 miles square. and that Texas is about 800 miles each way, there is reason to believe that the for bringing in new pools are almost as great as they ever were Neither is the risk very great as the strictly wildcat acres have shown only 30 per cent dry. Tn other words under the worst con ditions there is a three to one shot to win. Tn the north central fields the risk is even smaller as only IS per cent of the holes were dry in Consequenton the enorrn. ous profits on the bringing in of a we'll the risk looks all the less risky