Paragould soliphone., 1921-07-20
OTHER WELLS IN PROSPECT
 FOR COUNTY
New York Syndicate Buys 1,5OO Acres South of City Geologist Alexan- der Here.


 Indications point to the sinking of other test oil wells in Greene county in the near future, according to the activity of visiting oil men during the past week or ten days. It seems that a number of "oil field scouts have been going over the county and have expressed themselves as being much encouraged as result of their investigations. The site of the Preston Oil & Gas Company, ap- parently, is exceedingly interesting to them
 Saturday afternoon the Greene County Realty Company, local oil lease syndicate, sold to E. Ir Coste. of New York. ,500 acres of leases located south of the city two or three miles The purchaser claims to represent syndicate of oil field investors who have been watching the developments in this section seV-. eral months and recently decided to
 
 close up deals for acreage with a view to sinking one or more wells. it is said The acreage purchased Saturday afternoon lies to the south and slightly southwest of the city, a region that has not heretofore at racted much attention as probable oil field.
 The acreage passing into Mr Costes hands, it is said, was for q consideration of $l % per acre and was purchased at that price because the lands were in one block and handled in one transaction. It ap- pears that oil field scouts are anxious to induce their drilling companies to come into this field providing acreage may be had with out much expense, and unless land owners are inclined to encourage the development by showing a liber ahty in granting oil and mineral leases on their lands the idea will be discouraged Unless wells are drilled oil and mineral leases in a wildcat" section are worthless and property owners should realize that in order to reap a profit as a re- suit of the projects they should lend every encouragement to the movement to develop this section where legitimate drilling proposals are made.
 H. C. Alexander, of Texas, whose home is at Bonneville, Miss, is an- other oil field scout who has been going over the county during the past month. He is representing him. self as being geologist of many, years experience and possesses ere dentials indicating high-up con nection with the Federal Oil Cor poration, an extensive development company of the Texas fields. Mr. Alexander told Press representa- tive yesterday afternoon that mol dications for the production of oil and gas in big, paving quantities than does this particular region. 'II firmly believe" Mr. Alexander said, haps five--oil pools in this section of Arkansas, and Greene county to my mind appears to he the most favorably situated of any of the oth- CT counties.
 Mir. Alexander is devoting most of his study or surveys to the re- zion in the neighbOrhOod of Gaines vile He said if the land owners of the county will show little more liberalty in granting leases to those who are eager to prospect here they will be doing much twOard getting many wlels drilled in the county.
 Preston Company Operating.
 Information from the Preston Oil & Gas Company this afternoon is to the effect that the drillers are yet engaged running the ten-inch casing. after the under-reaming pro- cess. All of the eight-inch casing was pulled a few days ago and it now is the plan of the drillers to run the ten-inch size to a depth of past 200 feet, consuming all of that size they have on hand. Fol lowing this the eignt-inch will he lowered. The company has approxi- mately 2.30O feet of the eight-inch
 The drillers at the Preston we'll continue much encouraged over their prospects, apparently confident they are going to make rich strike They are much pleased with the good impressions expressed by visiting oil field scouts and those visitors ex- press their confidence in the display ed ability of the Preston drillers. They are recognized as being excep-