The Lexington advertiser. [volume] (Lexington, Miss.) 1904-1985, 1929-08-08
Holmes Development
Co. Organized; Leasing:
Oil Acreage in County

Publication of the charter of the
Holmes County Development Company,
a Mississippi corporation, domiciled at
Lexington is made this week. This cor
poration has been organized by local
residents in company with experienced
oil men as a holding company for the
purpose of buying, selling and dealing
in oil and gas leases, clays and minerals
which make up the natural resources of
Holmes county.
Prominent among the incorporators
of the Holmes County Development Co.,
are H. A. Moore, West; R. f. Wilburn,
Noel White, Tom Shepherd, T. J. Trull,
R. A. Povall, Lexington; W. E, Willis,
Jackson. Other prominent business men
of Holmes county will become part of
the stockholders list as the activities
of the development firm will embrace
many communities of this section.
There is no question but that the ma
jor oil companies of America are now
interested in developing the resources
of Mississippi, according to activities
reported thruout the state. They have
entered into the work in substantial
ways and many of them are maintaining
geological and geophysical crews in an
exploration of, the possibilities. 1t is
stated that no part of the state is con-
demned, that every county has oil pos
sibilities if proper structural conditions
conductive to the accumulation of oil
are found. AS evidence of this the ac-
tivities of the various oil concerns have
not been confined to any one localized
section, but their work is being scat
tered over large area of the state.
Sections where previous efforts have
been made are favorable and will con-
tinue to occupy the attention of the
companies. 1t is estimated by oil men
who are in touch with the situation that
at least forty or fifty real test wells
will be drilled in the state by substan-
tial oil interests during the coming year
as a result of the research work now un-
der way. In fact, the first of the drill
ing campaigns has already started at
Jackson, Water Valley, Meridian and
| other places where indications have
proven favorable
The purpose of the organization of
the Holmes County Development Co., is
to assist in this work, call attention to
these possibilities in Holmes county and
make an effort to get several of these
wells drilled locally. A capable and
practical geologist who has been employ
ed by the people back of this company.
has been working over the county for
the past thirty days and has already
worked out on large structural condition
| favorable for the accumulation of oil and
gas.
| A large block of leases comprising
around 10000 acres have been taken up
and experienced title men are at work
in the office of the chancery clerk,
working out titles on the acreage that
have been leased by the local holding
! company.
1t is not the intention of the Holmes
County Development Co., to do any
drilling themselves. Local companies
have been tried out over the state with
poor results and it is more practical to
have the large interests with ample cap
tal to make these drilling tests. The
local concern intends to present blocks
of acreage to the larger oil companies
for this part of the work
As the result of the work which has
been carried on, already a number of
biologists representing some of the best
companies have been in the territory
checking up on the blocks of leases held
| by the local holding company.
1t has always been thought that this
section of Mississippi has structural
conditions and sub-surface geology that
indicates oil that would attract the oil
companies at the proper time. There
seems to prevail that the opportune de-
velopment has arrived and Holmes coun-
| ty will occupy prominent place in the
drilling campaigns.
Assurances of cooperation have been
expressed from all parties over the
county in the work undertaken by the
Holmes County Development Co.