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Show OIL fc MINING JOURNAL Page 4 C3 chuckin 9 few For many years the sole purpose of the plants was to facilities produce called for U-2- 35 nuclear weapons. But now the plants are turning out enriched uranium were m '5 i M v 8nS Broker-Deal- v t. i ' . - MUTUAL FUNDS South Sain Street 364-180- 3 35 NORTH UNIVERSITY PROVO. UTAH 375-257- 68 SOUTH MAIN SALT LAKE CITY, UTAH 0 I year the Atomic Energy Commission received $61 million for enriched uranium it produced for nuclear power installations. There ' are 15 nuclear power reactors in operation now in the United States aiid at least 89 others under construction or in the planning stage. S.R. Sapirie, manager of Oak Ridge operations for the AEC predicts that by 1980 there will be 140 nuclear power plants in this country. To meet the increased demand for enriched uranium, Sapirie said, the commission plans an estimated $500 million improvement program on its gaseous diffusion equipment during the next decade. SAIT IASI CITY OFFICE AS for use in nuclear power plants. In the first nine months this And, he added, they will be paying the federal government nearly $900 million a year for enrichment of fuel for the reactors. in er STOCKS - BONDS a 364-180- 3 tS7iS!!et!7i By 1981, Sapirie said, the demand for enriched uranium will be so great that at least one additional gaseous diffusion plant will be needed every year for several years. This announcement is neither an offer to sell nor a solicitation of an offer tohuy any of these securities. This offer is made only by the offering circular. Our projections for 1969 and the fact were looking for a net income in 1970 in excess of S3 million, with an accumulated cash flow on net profits in excess of $4 million, is based on these assumptions, he emphasized. NEW ISSUE 300,000 Shares Common Stock Flying Diamond currently has three producing wells in the Bluebell Oil Field in Duchesne County, and have six wells to Utah, in this plans productive area by the end of the year. ngineered An additional discovery well is located in the Halway Hollow Area of Uintah County, Utah, and the company believes it will be drilling one well in that area before the end of the year. 'partj) 'OaleSoois firo ducts Besides its oil properties, the company owns royalties on gas properties and 13 producing gas wells in New Mexico and has participatory interests in other existing gas properties. The company also is active in ranching, holding and operating approximately 244,000 acres of property in eastern Utah, on which it runs some 3,500 head of Hereford cattle and 4,000 head of sheep. Except in a couple of cases, the companys risk in these ventures is minimal because we dont lose the investment money if a particular well is dry, said. lose Wed the income that Sprouse we well the would thought give us, but were not involved in the investment capital, he said. nuclear weapons n Flying Diamonds projections are based on the assumptions that wells that exist and that will be drilled in the future will reach average production levels because of their location and because of extensive studies that have been done in the area, Sprouse said. ll produce use in atomic bombs. during W this is difficult because were still in the early stages and theres very little reservoir information available. wcll-by-wc- and soon after World War II for the production of fissionable Uranium-23- 5 for gaseous diffusion plants For a company that is established, Sprouse said, you should look at the reservoir information and calculate the amount of oil reserves that exist. In this way, you can get some idea of the potential of the company. In our case Possible plans for exploitation of some of its ranch lands for recreational uses are being considered. Financing for Flying Diamond operations is being raised through outside investors and in the area of oil production, its being done basis. on a built Uncle OAK RIDGE, Tenn. Sam, who spent $2.3 billion erecting three huge plants to The VERNAL, Utah Flying Diamond Land and Mineral Corp. barely a year old and traded publicly since January, expects net earnings for 1969 of about $500,000, Clive Sprouse, president, said in an interview with CALIFORNIA ' BUSINESS. Sprouse admitted that in light of the audited figures for seven months of operations (a net loss of $2,900, equal to 1 cent per share) the earnings forecast for the year may appear high, but he suggested earnings arent the best way to judge the worth of a natural resources company. ff(? pD(lCaOS IpQVDDDJ materials, is beginning to reap some financial return from the investment. By Chuck Hayward November 10, 1969 (Par Value 50c per share) Offering Price $1.00 Per Share Copies of the offering circular may be obtained from tne under signed only in states where the undersigned may legally offer these securities in compliance with the securities laws thereof; . ENGINEERED SPORTS PRODUCTS (A Utah Corporation) 445 East 2nd South Salt Lake City, Utah 84111 Phone: 321-24- 21 |