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Show August 11, 1969 OIL & MINING JOURNAL Page 5 Classic reports miss, hit Classic Mining Corporation, a Utah company, reports one miss and one hit in its oil and gas drilling activities in Utah and Ohio. Ray R. Ross, president, noted in a letter to shareholders that the company came up with a dry hole in its initial drilling effort in Wayne County, Utah, but hit with one of the hugest gas producing wells in Ohio in its participating effort in Jackson feet per day, testing on a one inch chock. Ross reported the corporation has signed a contract with East Ohio Gas Co. to sell gas for 28 cents per thousand cubic feet plus additional compensation for transportation. He said at the present time the well is also an undetermined amount of oil which will be sold F.O.B. wellhead from $3.17 to $3.73 per barrell depending on the buyer. Ross reported that Classic is currently participating 50 per cent in a second well in the same Ohio County with National Treasure Mines Co., its partner on the Koval No. 1 venture. He said the drilling rig should reach the desired depth of potential production within the next two weeks. If production on the well Ross said Classic intends to producing Township, Guernsey County, Ohio. Classic has a comparable wells in the area are producing 100 barrels of oil per day along with gas. holds at the 2.6 million cubic feet figure, revenue from its gas production would return over one-quart- working interest in the well, Koval No. 1, which Ross reports tested at 2.630 million cubic . begin development of an additional 567.76 acres of leases located in the same county as $20,000 per month, and soon as additional drilling rigs become available. A Weston He said exploration and drilling would also continue on its Wayne County, Utah acreage, based on reports by their andComPfmy he. INVESTMENT SECURITIES Members Salt Lake Stock Exchange 2000 Univ. Club Bldg. 136 L South Temple 364-197- 1 Provo 163 N. Univ. Ave. Phone: 374-825- 7 Las Vegas L Charleston Blvd. Phone: 384-299- 5 J Build Create r V director of Ross said legal counsel are examining title to claims located in San Juan County, Utah, and Dr. Wenger has been retained to report on feasibility of exploratory drilling on these claims. National Lead Co. Elects Vice President 2 Ways VQD Can v gathered in Classics first wildcat to merit further development at some other site on Classic's 14,000 acres of leased land. Salt Lake City .1721 t Petroleum Geology, University of New Mexico, who feels enough information has been MARKET SPECIALISTS Phone: . consulting geologist Dr. Sherman A. Wenger, INVEST WITH OUR OVER-THE-COUNT- ER INSTALLS flow gauge, top, at Classic Minings Ohio gas well. At bottom, gas flow show's clear and strong. Oil condensation puddle around bottom of test pipe. WORKER OIL Profits an Image Tell your story in word and picture to interested readers NEW YORK Election of John A. Mardick as a vice president of National Lead Co. was announced by E.R. Rowley, chairman. Mardick joined the company in 1948 as a metallurgist at the Brooklyn Research Laboratories. 55 CP (J a HAS YOUR TRANSFER COMPANY BEEN PUTTING YOU OFF We Treat Each ACCOUNT Like Sharon Todd Provides DISPLAY AD 3 Day Accurate Transfer Service STATE TRANSFER AGENCY. INC. Only $2.00 a column inch. Deadline: Wednesday proceeding desired publication date. and one of our creative represen3 Call: tatives will assist you. 298-240- Its Our Only ACCOUNT 321 Boston Building Telephone (801) 322-557- 9 No Holes Barred Minerals Drilling, Inc. is ready to take on your hole drilling problem, whatever it is and wherever it is. And come up with an answer. SALT LAKE CITY. UTAH 84111 & I'lvrro I -- CLASSIFIED AD For as little as $2 for 20 words & 10( for each addi- tional word you can tell your story. Deadline: Weddate. nesday preceding the Monday publication Mail to: Rocky Mtn. Oil & Mining Journal P. 0. Box 19243 Salt Lake City, Utah 84119 PAYMENT WITH ORDER PLEASE Typographic Systems Computer Composition Facility offers Complete typesetting and printing facilities for your Red Herrings and prospectus! We. offer fast service, complete flexibility and high quality. Call in Salt Lake 297-651- 1 or write Typographic Systems 58 N. Main St., Tooele, Utah 84074 Minerals Drilling, Inc. OFFICES: 2050 University Club Building 136 East South Temple Salt Lake City, Utah 84111 P.O. Box 940 Ely, Nevada 89301 6 (702) 2227 River Road 289-212- |