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Show JANUARY 26, 1970 OIL & MINING JOURNAL Page 2 Rock Creek wildcat a $200,000 gamble ROCK CREEK Kane County, Utah A remote, canyon is the scene of a $200,000 gamble by oilmen. And it shows, more than cliff-encircl- ed why oil anything else, men are called Rock Creek Federal No. 1 He first saw the canyon 10 years ago when flying over the site in a helicopter. Since then the canyon has been month with Junction, Colo., as contractor. I Ye looked for oil for 16 from the air. And Mr. Gaeth led a geological team in the area two years ago. We spent 21 days mapping the area by boat camping out the whole time, recalls Mr. Gaeth. years in this part of the world and lYe never seen anything to rival this well,' says Grant I. Gaeth. looks like a natural for holding trapped pools of oil. But on one will know for sure until a Willard Pease Drilling Co. of Grand underground. Why is the risk being taken? Because of the size of the structure and the amount of oil that could be there if its productive, says Mr. Gaeth. person most responsible for exploration wildcatters. The canyon is the site of Rocky Creek Federal No. 1, a wildcat to be drilled later this well probes the secrets hidden Mr. Gaeth, a geologist from Romex Corp., Denver, is the extensively Romex is the operator for the joint venture, which photographed includes participation by Mountain Fuel Supply Co., Occidental Petroleum, Crest Resources and Skyline Oil Co. Romex itself is a closed corporation bankrolled by WASHINGTON-Thou- gh 5V4 months the the duration in Dlinois- - Kentucky fluorspar district reduced the mining domestic finished of shipments fluorspare for 1969 to 177,000 tons from the 252,000 tons shipped in 1968, most companies ended the year with plans of general approximately expansion aimed at more prodcution and exploration for the coming year, according to the Bureau of Mines. Pelletized fluorspar capacity expanded from three plants a year ago to nine plants operating or soon to start. of fluorspar for . Imports consumption in January through October 1969 amounted to 569.000 tons of acid grade, compared with 515,000 tons in the same 10 months of 1968. In putting together the metallurgical and ceramic grades, 379.000 tons were imported as against 347,000 tons for the of the previous year. Mexico continued to be the major source of imports, of accounting for three-fourtthe mineral received. that production of metallurgical grade fluorite may reach about 300,000 tons for the year. Minerva Company announced $3 per ton increases on all products effective January 1, 1970, representing average price increases of five to almost seven per cent. Other domestic producers have also announced increases and foreign producers have raised prices $4 per ton and up, raising European duty paid fluorspar prices an average of 8 to 8.5 per cent. In Mexico, largely as the result of expansions at existing mines and plants, production of tons of fluorspar is virtually assured for the year. The phenomenal expansion in fluorspar mining in Thailand has lead to speculation Toledo Mining announces 8th Colo well The Toledo Mining Co., Salt Lake Gty and San Francisco, announced it has leased an additional 35,000 acres of oil and gas leases adjoiningits Trail Canyon gas field in northwestern Colorado. The company also announced completion of its eighth straight well in the field. The well was completed in the Dakota sands at 6,600 feet with a potential of three million cubic feet daily. & Serving the mining and oil industries of the Rocky Mountain Region. Articles and information herein are true and factual to the-- bfest knowledge of the publisher. 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For FILL IN addiWed- WORDS - CLIP & MAIL PRINTING 8c LITHO Profits an Image Build 9 Create for just Reaches Readers Brokers , Can $25,000. 3479 SOUTH 2700 WEST 298-2- 40 3 Do You Want Your Stock Transferred NOW? OSPILAY AID Manhattan Transfer Only $2.00 a column inch. Deadline: Wednesday proceeding desired publication date. Call: 298-240- 3 and one of our creative representatives will assist you. a ..j ; : Published weekly in Salt Lake City, Utah by Utah Scene Publishing Co., 4386 W. 3780 South, Granger, Utah 84120. Mailing address: P.O. Box 19243, Salt Lake City, Utah 84119. hs over one million from Denver . independents. About two years were spent same ten months The than any place else in the United States, except Alaska. For compairson, he noted Rock Creek Federal will be drilled to about 3,800 feet at a cost of $200,000. To give you some idea of the inaccessibility, you .can drill a 4,000 foot well in the Julesburg Basin 100 miles about 10 Texas oil The geological structure Fluorspar prospects get boost strike of package which controls the structure. I talked them into it on the basis of the large, untested structure and the relatively low acreage costs, says Mr. Gaeth. He calls the site the most inaccessible country in the 48 contiguous states. It costs more to drill a foot of hole in tins country 30,000-acr- e 359-551- 1 Transfer agents for: I CLASSIC EBONY WYCO Moil to: Rocky Mtn. Oil & Mining Journal P. 0. Box 19243 Salt lake City, Utah 84119 PAYMENT WITH ORDER PUASE |