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Show November 10, 1969 flo7DD 10-we- management AflOcos managements proposed changes in the firms articles announced that a 25 per cent depth of 3,000 feet or more into interest in the block has been sold to Ebony Oil Company of Salt Lake City, and an additional 50 per cent interest has been farmed out to Midland Oil Corporation of Tulsa, Okla. Under terms of the contract, Midland Oil will be the operator and will drill 10 wells to a total 70s stockholders of Atlas Mining Co., Spokane, have approved nlInln)3S (olcaDDSin)) King Silver Corp., Denver, has announced a ll drilling in Meade County, program South Dakota. The drilling program will be conducted on a 150,000-acr-e undivided interest drilling block King Silver recently obtained in The SF)o dD7.D CJQGflGQ the county. King Silver Page 3 OIL & MINING JOURNAL of incorporation, Meeting in a special 'meeting in Mullan, Idaho, they approved 1,516,357 to 2,180, to make Atlas stock nonassessable and 1,478,087 to 40,450 to increase capitalization from two million to three million shares. A total of 1,518,537 shares were represented at the meeting, some 273,000 mqre than the required two-thirmajority of 1,245,000, he said. ds If Morrison Formation, whichever occurs first. The 10 wells are spaced throughout the entire 150,000 acre block in order to test the acreage as well as possible, according to Cecil C. Wall, King Silver president. Wall said Midland will have until thie 31st of March 1970 to complete wells. the drilling of the Wall said the company retained its has interest in a 5 per cent overriding royalty under all the leases sold and farmed out, and its interest under the remaining 25 per cent of the 150,000 acres via a 160-acr- e checkerboard pattern pro-rat- a INC. 691 KEARNS BLDG. 322-351- 5 RAY W. BRADFORD President & General Manager were Frankovich ed of Spokane, J.W. Greenough Jr. Over-the-Count- er of Auke Bay, Alaska, and John & of La Canada, Calif. S. Pehat 40-acr- SECURITIES Two new directors elected by the 50 stockholders who attended the meeting, they were Thomas E. Groce of Spokane and John F. Harvey of Butte, Mont. Re-elect- throughout the block. In addition to the overriding royalty held by King Silver, it will also participate under a 1 5 per cent carried working interest under the e drill site of all 10 wells drilled. The first well was scheduled to be spudded on or before the 7th of November, Wall said. BONNEVILLE sniiiniDs according to Frank J. Frankovich, vice president and general manager. the this Gtosky Mutual Funds fcratfMS e . Oil . and we & Minipg you about it. at the Rocky Mountain Journal are here to tell . . PUBLISHER: JUST CLIP & THIS COUPON Rocky Mt. P. 0. OIL ft MINING JOURNAL Box 19243, Salt lake City, Utah 84119 Please eater aiy subswiptiea te the Rodcy filoaataia Oil t MINING JOURNAI Name AND MAIL Address city State Zip Code CHECK ONE: One Year $10 2 years $18. 3 years $21 1 |