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Show t i ) I j National Enterprise , Aap 79. 1976 pagC Nine BH Notes Earnings CASPER, Wyo.-Bur- ton Hawks, Inc. (OTC .5625, .75) today reported record revenues and earnings for the first quarter ended March 31, 1976 with earnings of S101.122 or 1.39 cents per share on operating revenues of $404,374, compared with earnings of $74,270 or 1 cent per share on revenues of $239,103 in the first quarter last year. The company said revenues of $100,000 from a $62,751 from well drilling and servicing by its new subsidiary BurtonHawks Drilling Company accounted for the majority of the gains. Revenues from oil and gas sales and 1 I t duction Company has reported apparent discovery at a well on the Overthrust Belt four miles southwest of Evanston, Wyoming, which offsets BurtonHawks interests. The well, according to the operator tested 1.8 million cubic feet of gas per day plus distillate from one of several possible productive zones in the Twin Creek formation at approximately 6,800 feet. Hawks commission and Hawks owns one-tim- e producing royalties were Natural Energy Closes Pact said Burton 12.5 percent of the minerals under the half section offsetting the well to the east and a five percent working interest in 1,103 acres in sections directly north and northeast of the well. Hawks said Amoco is scheduled to drill another well, to 12,000 feet, just north of the town of Evanston in Section $193,816, about the same as in the quarter a year ago despite a reduction in some crude BurtonHawks recen prices in February this year. Bill Hawks, president of tly acquired a 20 percent oil and gas interest in 215 acres in the the Casper-base- d firm, noted that Amoco Pro- - town, he said. $ k t Billings Displays Car in Tour UPTON, first tric N.Y.-T- he worlds elec- hydrogen-powere- d car was unveiled by The urban car is designed for city driving with a one cylinder Kohler industrial Billings Energy Research engine. The chassis is built by (OTC 5.875, 6.375) at the Sebring Vangard. The car can Brookhaven National Labora- - tories Energy Fair last week. urban The car and model electrolyzer were among more than seventy exhibits on display. Billings' minibus was also exhibited. The electrolyzer produces hydrogen from water and will eventually be designed to recharge the hydrogen car. two-passeng- er hydro-gen-power- ed travel at city speeds up to 35 mph arid since conversion to hydrogen, its range tripled to 120 miles. vehicles The pollution-fre- e are on a three week exhibition SALT LAKE CITY-Fi- rst Utah Capital Corporation has acquired through of three the million exchange shares of stock the business and assets of Natural Energy Systems, Inc. of El Cajon. Calif. First Utah has changed its name to Natural Energy Systems, Inc. and moved corporate offices to the California location. Natural Energy Systems, a company, designs manufactures, and markets a wide range of energy saving devices. Products include a heat recovery pump, electrical saving devices, domestic hot w ater and space heating solar six-year-o- ld plate collectors, electronic outlets across the U.S. At present, the firm is focusing on establishing a distributor in every state. Negotiations are also under way with a major company in Mexico and in West Germany to license manufacturers. Based on tentative orders in hand, Haydon said, Natural Energy Systems should reach $3-- 4 million in gross sales this fiscal year, ending March 31. I say theyre tentative only in the sense that we have the orders, the question is whether we will have the he capacity to fill them, Terms of Acquisition Prior to the acquisition. First Utah Capital effected a four for one forward stock split, bringing total shares outstanding to 200,000. Since the 3 million share transaction, the company now has 3.2 million shares outstanding of which 120,000 are free trading. Officers elected to serve Natural Energy Systems are Donald A. Haydon, president; Charles T. Anderson, vice president, marketing; Dr. Jay Paul Hurley, vice president, explained. engineering; and Gunter Natural Energy System's Anstratt, secretary-treasureThe stock trades in the operates a 12,000 square foot plant in El Cajon and employs range of 1.75, 2.00. r. control units and solar water distillation units. 35 people. The heat recovery pump, according to newly elected president Don Haydon, founder of Natural Energy Systems, contributes the largest portion Hecla Mining Company or 65 percent, to the companys sales. It accounts for (Spokane Exchange, 16.00, 16.75) announced consoliapproximately $150,000 $200,000 monthly. Profit mar- dated net earnings for the first gin on the pump is currently quarter of $942,956 or 14 cents 18 percent, however, Haydon per shdre on 6,717,334 shares expects it to increase to 25 outstanding. This compares percent by years end with with $997,671 or 15 cents per manufacturing being under- share for the fourth quarter of 1975 and $1,604,964 or 24 taken by the company itself. Natural Energy Systems cents per share for the first acquired recently all patents, quarter of 1975. At the annual meeting held designs, manufacturing and distribution rights to the pump last week in Spokane, Washfrom Inc., an ington, shareholders elected: Hecla Reports Meeting -- Temp-Maste- 18-ye- ar r, old company Messrs. Horton Herman, W. H. Love, William T. Pettijohn, L.J. Randall, E. McL. Titt-maW.B. Warren and John R. (Jack) Williams as Directors. They also approved the n, selection of Coopers and Lybrand as auditors. At the meeting of the Board of Directors held immediately following the meeting, James H. Hunter was elected a vice president of the company. Continued on Page Twelve in Orlando, Fla1. trip throughout the East. Upon return to Utah the bus Orders in Hand will be put back into regular r service as part of a Natural Energy Systems test and the car will undergo currently distributes and marfurther development. kets its products through 20 one-yea- First Equities Corp. INVESTMENT SECURITIES We are pleased to announce the association of Going public is tough. Keeping your seat is even tougher. ERNEST MUTH with our firm as a Registered Principal. represent us on the floor of the Intermountain Stock Exchange. Mr. Muth will Going public can be a great opportunity for growth (stock can often facilitate acquisitions) . . . but it's not much consolation if you're left on the outside looking in. We can make your company public and keep you in control. No need to worry about months of delays, either. We move quickly and precisely. Talk to us before you give your company awray to a board of directors. You built it; you should keep it. - i His direct-lin- e (801) f to the floor is: 363-145- (Chatham rruritir 25 SOUTH 500 EAST SALT LAKE CITY 7 (BOD (Corporation ' UTAH 54102 2 . J -- 5 , i Crandall Building, Suite 309 First South and Main. Salt Lake City, Utah 84101 Telephone: , 801-363-44- - r.T. i i 1 C. 05 Contact Richard L. Chatham, President 7 Salt Lake City (801) 531-033- k. |