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Show Enterprise Review , April 7, 1976 Page 5b Abnormal Lease Activity Recorded in Utah A surge of oil and gas lease Option Market News hy Humll M. ki'lchnin. Ph.l). Vrincv. hmlirinrith & (iriir northern Utah are covered with applications filed with the BLM. Most of the land is in Rich County, but an additional into 15,000 acres over-lap- s Idaho. Ed Pendleton, Denver, filed on more than 47,000 acres and John Errebo Jr., applications totalling more than 27,540 acres southwest of Hanksville and generally withFour new options were added to the CBOE last week. They in the Torrey area to the are Buffington Northern, Fluor Corp., NCR, and Pepisco. All southeast of Bicknell. will be on the July and October expiration cycle. An extremely high level of The Pacific Stock Exchange will be getting into the options act oil and gas leasing activity is on April 9th. They will start with the following ten stocks; Levi also underway in southeastern Strauss, Diamond Shamrock, Merrill Lynch, RCA, Fluor Corp., Denver, covered another Idaho, just north of Utahs J.P. Morgan, NCR, Sambos Restaurant, Santa Fe Intemation, 44,800 acres in townships 13 Bear Lake region. Current and Union Oil. through 15 N., ranges 5 and estimates from industry Option premiums continue to be overvalued. The firm of 6E. A sizeable part of the sources in Idaho place acquisiGoldman Sacks figures that on average the CBOE option is still acreage is in the bed of the tions of federal, state and fee 6 percent overvalued. This means that covered option writing or independent landman Bear Lake. Vem K. Jones, lands in the vicinity upwards continues to be the Good option writing approach. action but, from all indications Salt Lake City, filed on more of four million acres. The candidates continue toprudent be Tandy, Polaroid, Control Date, ASA, is beginning to mushroom into than 22,000 acres nearby. Overthrust Belt oil and gas and National Semiconductor. a play of broad participation Other leasing in this general continued on page 7b. with a number of companies area has been done by Milan now showing interest. Papulak, Jean Oakason, Neva Current lease applications Henderson, and Patricia have been filed with the Utah Hickok, all of Salt Lake City. BLM on 663,507 acres. Rosita Trujillo, an indepenStowe says the area of dent broker from Cheyenne, interest is within four geo- Wyoming filed on the National Forgraphical areas of the state: Wasatch-Uint- a the northern Cache and Rich est area. Her applications County provinces south of include more than .57,140 Bear Lake along Utahs Over- acres. Several other Salt Lake thrust Belt area; the Wasatch City individuals including A1 NationT. Hays, W illiam Stevenson National Forest-Uint- a al Forest regions northeast of and Frances Kunkel leased American Fork and east of some 9,000 acres. Empire Orem, Provo, Springville, Resources Incorporated, DenSpanish Fork and Thistle Jun- ver, filed on 17,826 acres just ction; the Basin and Range east of the Timpanogas vicinState Line and Casino plateaus of Millard, Sevier, ity, and Odessa Natural CorIron and Beaver counties; and poration, Odessa, Texas Our the Dixie National Forest covered just over 2,340 acres Celebrating southwest of Hanksville 'and in the area. 976 1926 Anniversary Year In Wayne, Garfield and southeast of Bicknell. There is also scattered leasing in the Kane Counties, Malcolm JusSt. George area, southeast of tice, Salt Lake City, filed lease WENDOVER, NEVADA Escalante and southwest of the town of Ouray in Uintah County. Most actively engaged in oil and gas leasing has been Sonja McCormick and Patricia Kendell, Salt Lake City. Together, applications have been filed on nearly 200,000 acres applications filed with the Utah Bureau of Land Management in the past few days is reported according to information received by Carlton Stowe Utah Geological and Mineral Survey minerals specialist. n More than a acres have been leased and there is, apparently, no sign of a letdown. The initial land activity is reported as a broker half-millio- . JOIN US FOR ALL THE FUN AND EXCITEMENT FOR WHICH NEVADA IS FAMOUS! . Intel . 50th in the Iron-Beav- er county areas. Miss McCormicks leases cover 51 ,632 acres just southwest of Milford extending some 20 miles in the Lund vicinity. In Iron County, Miss McCormick filed leases on 69,940 acres in eight townships northwest of Cedar City. Patricia Kendells applications cover more than 66,419 acres in Iron County, northwest of Cedar City extending beyond the Beryl area. In Beaver County, her applications total 77,390 acres southwest of Milford. Also in the Millard-Sevie- r area, R.E. Zimmerman of Houston, has filed on 108,133 acres throughout the Fillmore, Holden, and Kanosh region. David Coleman, Salt Lake City, has filed leases in the Fillmore region totalling 33,765 acres and Union Oil Companys leases include 10,841 acres near Cove Fort. Patricia Hickok, Salt Lake City, filed oil and gas leases on 18,261 acres in the Millard County play. Some 37,591 acres in the Sulphurdale area extending to the west of Minersville has also been filed by a number of different individuals. Overthrust Belt More than 114,000 acres in the Overthrust Belt area of skuis Sfts Date. We think the TV late news is aptly named. So is the Late Edition of your newspaper. Because by the time you get it, it is late. KWMS 1280 doesnt have any late news. Ours is all up to the minute, 24 hours a day. The worlds largest news gathering news team lets you know what is happening around the nation and around the world. 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