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Show JULY 13, 1970 OIL & MINING JOURNAL PAGE 6 Oil exploration on rise in southwestern Utah TULSA, known better Okla-Thou- gh for its scenery and history, southwestern Utah is being eyed by the oil industry as one of its newest provinces. Pan American concluded several recently months of field exploration the firm says could lead to wildcat drilling. Interpretation of seismic records and evaluation of results arc being carried out at Pan Ains division office in Denver. Though the company declines to reveal the results of that virtually unexplored country, it says prospects are good. Rolling desert and rugged mountains contrast the area in which Pan American conducted its operations. Pan Ams surface geology seismic and rcconaissance-typ- e area in this got under operations way in the Great Basin of Nevada last year, a spokesman It moved eastward into said. Utah and operations were concluded in the Escalante Desert at the end of the year. The Escalante lies between the Wasatch Mountains on the east and the Great Basin on the west. In between, the company we hope to find potentially good oil and gas prospects. Our initial geological work indicated that the geology of the region offered potential Seismic cres then screened the area to gleen clues to the existence of subsurface traps. says, This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made only by the Offering Grcular. The desert was an ideal location for seismic work, since it is covered by aquaternary-ve- ry recent, geologically-deposi- ts 3,000,000 SHARES Common Stock $.05 Par Value-- N of sand and gravel that obscure the subsurface outcrops. Discovery of oil in Utah is not a new thing, historically, but Pan Am spokesmen indicate the latest search may produce larger operations. Oil was first produced in this state 31 years ago. Total output of crude and natural gas in Utah is about 700,000 barrels per day. By Comparison, Wyoming produces MAY 25,1970 NEW ISSUE HI-- HO SILVER & GOLD CORPORATION OFFERING PRICE: $0.10 PER SHARE six times that amount; Oklahoma, 10 times; Louisiana, 36 times and Texas, 55 times. Eleven of Utahs 29 counties produce oil and gas. Most of them are in the eastern portions portions of the state, the Pan from the state breadth of Americans operations. region of Am has Pan Nevada and Utah, leased several thousand acres. Within the two-stat- e Time has added much to the history of Utah, says Pan from the early American, Indians through Spanish explorers to Mormon settlers. Hopefully, Pan Americans exploratory efforts today may bring about a new and exciting chapter in Copies of the Offering Circular may be obtained from the Undersigned only in states where the undersigned may legally offer these securities in compliance with the securities laws thereof. the growth development of this state. and AGENTS FOR SALE OF SHARES: JOHN GORDON AVERY 731 East South Temple Salt Lake City, Utah 84102 322-355- 1 Telephone: (801) MICHAEL WILLIAM STRAND 731 East South Temple Salt Lake City, Utah 84102 Telephone: (801) 322-355- 1 |