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Show Page three The National Enterprise , September 8, 1976 XRG, Inc . Doubles Revenues Price Tag: $2.5 Million Rainbow Joined by Atlantic Richfield DENVER, Colo. Rainbow 12.75. ALICE, Texas XRG, Inc. Resources, Inc., (OTC showed dramatic 13.125) representing itself and (OTC increases in both revenues eight other oil industry partand earnings for the fiscal ners, has sold a 50 interest in approximately 117,000 year ended April 30, 1976, acres of oil and gas leases in over the prior twelve-mont- h the Northern Overthrust Belt period. RichThe annual figures were of Wyoming to Atlantic all at record levels according field Company. Charles A. Shear, vice to William H. Doran, president. Revenues of $269,958 president and land manager were more than 250 percent for Rainbow Resources, said greater than the $75,362 re- that the group received $2.5 ported a year ago. Net income million for the 50 interest. reached $85,513, or nine cents Shear said that Rainbow pro- a share, approximately 125 percent above the $38,191, or four cents a share, in the 1975 period. Doran noted that the companys total assets had increased to $537,051 at April 30 this year, against $290,370 a year ago and stockholders equity rose to $446,926 from $179,347 at the same time. Unlike many other companies in the energy industry, XRG, Inc., normally seeks and acquires leases with already existing wells which it then works to place in production or to increase their flow. vided 25 of the net acreage sold and retained a 12la working interest in the approximate 117,000 acre spread. The group plans a $1 million seismic program on the acreage designed to determine drill sites for future wildcat drilling. All companies participating in the sale have agreed to pay their proportionate share of the program. Section 9, T12N-R93additional 80,000 acres situated on the Eastern edge of Carbon County, Wyoming. The Initial production reports on the Overthrust Belt. these wells will be released as Craven Creek gas field, discovered by Rainbow, et al, in soon as final results are late 1974, is situaed on this known. Under the same program acreage. This field, which contains seven shut-i- n gas additional wildcat wells are wells, went on production the currently drilling in Laramie, week of August 23, 1976. The Niobrara, Sweetwater and balance of the acreage, lo- Teton Counties, Wyoming. In the Williston Basin of cated in the LaBarge Platform area and in the Northern Montana and North Dakota, Overthrust Belt, is currently Shear reported that the second well drilled by the being explored for oil and gas 100 and exploration is expected to Federal continue for several years. group, the No. 1-- 9, Farmland-Rainbow-Hami- ll 1-- 18 Shear said that six exploratory tests have reached total depth to date in Rainbows $10 million 1976 joint exploration venture with industry partners, announced in June. Completion attempts are underway at three of these Wells currently six wells. being completed are the South Sand Draw No. 26, Atlantic Richfield will conduct operations on the properties. Shear said that Rainbow interest in an holds a 25 1-- T32N-R95- Section Fremont County, Wyoming; the State Line No. 1, Federal No. MofSection 19, T12N-R94fat County, Colorado, and the State Line No. 2, State No. 1-- Gold-G- ANGELES Logicon, (OTC 3.50, 4.00) an- LOS Inc. nounced Friday it has received contracts totalling three $610,894 to support activities of the U.S. Navy. they include: A $331,156 contract subcontract from Courseware, Inc. for a study for the U.S. Naval Equipment Training Center in Orlando, Florida was also received by Logicon. Logicon and Courseware will A $129,739 12-mon- th Farmland-Rainbow-Hami- ll group on approximately 1,150,000 net acres in the Williston Basin. Gold-G- o Id -- Gold O o O o O o O 0 O NOT INTERESTED? That s Okay, but better keep this ad 32 handy in a few short months you o (j may wish that you had been taking AGN. Join those in the know. Learn -- o about gold stocks, exploration. O mining, legislation, gold in economy and read expert writers and O comments. in-po- rt operational mission since Logicon started development work. Participating units in- cluded missile cruisers, aircraft and ground stations. The MULTOTS contract is sponsored by the Naval Electronic Systems Engineering Center in San Diego, with the Naval Electronic Systems Command as the principal development activity. A $150,000 contract modification from the Naval Sea Systems Command to continue providing technical services in support of the Navys AEGIS ship combat direction system. The work will improve integration of combat systems and provide software verification and validation. i i i i i i i i i i i i i i i i i i i i o 9- FREE "5 Your Choice of Two Popular Books O Gold! The Ultimate Hedge or Gold Panning lor Profit sent with 2O Subscription $6Per Year issued Monthly Money refunded if not delighted o O AMERICAN GOLD NEWS o O P.O. BOX 457, DEPT. lone. CA. 95640 Gold-Gol- d Gold-Gol- d Gold-Gold-Go- NE ld i I yu Covered With over 1600 stock quotations, news articles, earnings reports, corporate profiles, market columns and feature stories, the National Enterprise covers the OTC securities market from coast to coast. to know whats going on in the industry-fro- m corporate board rooms to changing securities laws and regulations. We make it our business behind closed doors of We II keep you posted on the latest developments and abreast of current trends. The National Enterprise gives your investments the kind of coverage they deserve. Please send me a one-ye- ar subscription to the National Enterprise. Enclosed Is $24.00. NAME. ADDRESS. CITY STATE. O Gold Newspaper Since 1933 2. - ri er r O' no A Leading ment is a method of designing training courses to be more efficient through use of systems analysis techniques. Work on the three contracts will be performed by Logicon s Tactical and Training Systems Division in San North Dakota, has flowed oil from the Ordovician Red River formation from a depth of 12,950 feet. The first 100 well, drilled in a different area, was dry. A third well is currently drilling in Richland County, Montana. Rainbow holds a 121i reversionary interest in the $7 million exploration effort being conducted by the Gold-Gold O to make software changes and incorporate instructional provide support services to the system development method- Diego. Logicon provides high MULTOTS, a mobile data link ology into Naval Training and technology products and sercommunications test and Systems development Invices to government and training system. The software procurement practices. changes will incorporate the structional system developlatest tactical data link standards into the system. MULTOTS is housed in a semi-trailwhich can be moved from unit to unit for operational data link communications test and training for tactical command and control systems. The Navy recently three-wee- k completed a successful training program its first MULTOTS utilizing L -- T14N-R103- 0 O "O Three Naval Contracts Awarded Logicon, Inc. Id o Section 18, McKenzie County, ZIP Mail to: THE NATIONAL ENTERPRISE P.O. BOX 11778 SALT LAKE CITY, UTAH 84147 5- - 0 oO Q. 6o |