The Powder River County examiner and the Broadus independent. [volume] (Broadus, Mont.) 1919-1935, 1922-08-11
kelvin OIL LAND
BRINGS BIG sum
TWELVE THOUSAND ACRES SELL
FOR $3.50, 900 no CALIEOR-
MIA COMPANY
Gordon Campbell, Arbee Beardslee
and tho Kevin-Sunburst Company
Receive This Sum on Land RepFes.
emitting an Original Investment Of
$4,000.

Settlement Of difficulties involving
the Lincoln permit and adjustment
Of the interests Of Gordon Campbell.
Arby Beardslee. the Kevin-sunburst
company and Fred Whiteside was an
nounced in Great Falls q few days
ago. closing virtually three months Of
negotiation. during which several
suits were filed. The settlement paves
the way to the payment Of $256,000
to Campbell, Beardslee and the Kew
in-Sunburst for acreage taken by the
California company. the last payment
Of deal involving some $396.000
and about 1900 acres.
Under the terms Of the settlement,
Fred Whiteside. who had previously
Incorporated his interests as the
Rainbow OIL company, receives $50
acres Of the permit lands, including
the tract on which he is now drilling,
and offset acreage where he has q
camp erected, and other tracts to
make q total Of 1880 acres. His
original contract called for 1920
acres of the permit on q $3.50 drill
ing agreement. The drilling agree
ment holds on the acreage he retains
in the permit and q part of that in
outside tracts, while q part of the
additional leases are turned over to
him in direct assignment. The &c.,
900 paid on the original contract is
returned.
The settlement was made possible
by Campbell giving some acreage and
the Kevin-Sunburst releasing a small
tract in the adjustment of interests.
The acreage taken by the Califor-
mia company amounts to more than
100 acres. $40 Of this being permit
acreage and $50 in outside tracts.
For some Of the acreage taken, the
price runs as high as $500 an acre,
probably the record price Of the
field. It rounds out the purchase OF
that company, the first payment Of
$4,000 having been made on $50
acres previously taken. The Kelvin.
Sunburst interest in that payment
permitted q 500 per cent divident
to it's shareholders.
The acreage taken by Whiteside
in the settlement outside of the per.
NIT includes tracts in sections II and
1865 ", section 20-35-2 ", and an
OV-WNA0 eA0SS AZ 00Ct4VU OOeOO.C W.
Under the deal with the California
company. Campbell and the Kelvin.
Sunburst are reported to receive in
the neighborhood Of $4,000 each
The settlement makes possible the
resumption of work on the Harry L.
Wilson. trustee. well on section 10.
1913 W, that operation being for the
California company, and drilling hav'
Ing been held up under an Injunction
obtained by Whiteside. A suit
brought against Whiteside by attor.
neys for L. e. Lincoln. holder Of the
permit. for breaking the Original
contract is also dismissed by the set
Element.
The original difficulty arose IL
conflicts between the contract taker
BY Whiteside through Lincoln's at
torneys and the Beardslee and Kelvin
Sunburst interests. It was furthe,
complicated by the entry Of the Cali
fornia company a. q purchaser fol
. part Of the permit. The negotia
tons have been under way for thu
greater part Of the time since then
The settlement 10 regarded a. mean
Ing increased development In thi.
part Of the field. with the probability
that drilling win be resumed by thu
California company.
The Rainbow OIL company we'll I,
now at . depth Of about 1000 fec,
and has had oil showinss for some
time. The California we'll is dowr
500 feet. having validated the permit
before the Injunction was served.
Considering that the Kevin-Sun
burst company represents an origina
Investment Of $4,000. the return O.
the California deal alone represents .
return Of moro than 1900 per cent
Campbell r. Of course. the principa
individual. gamer In the sale, Will,
Beardslee = also . big beneficiary.