Lum Edwards and Abner Peabody own a general store in Pine Ridge. When oil tycoon M. A. Parker is stranded in the town awaiting his car being repaired, he decides to play a practical joke on the two small-town rubes, and feigns interest in purchasing their store, alleging that there is an oil deposit below the premises. He offers Lum and Abner $20,000 for their property, but the two believe he is trying to steal their property by offering them far less than the property is truly worth. Rather than take Parker's money, the pair convince their friends and neighbors to donate money to drill for oil.
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