OCR Text |
Show TEE WESTERN MINERAL SURVEY Page Eight February 17, 1956 Matsada Hires Stocks to Watch limrock Moves To Israeli Oil Lands B y O. D. QUINLAN Pacific Uranium Corp. controls an estimated 12,000,000 tons of .25 per cent to .30 per cent block-e- d out ore in Section 24, in the Ambrosia Lake area near Grants, NEW ORLEANS Strand indicated' Mount Peale has sold some oil and gas properties in Paradox Basin, the details of the transaction are in the process of completion. N. M. Elmer Strand, president of Mount Peale Uranium Corp., said the company's drilling program should be completed in 30 days. Plateau Mining Co. is getting some production out of the companys properties in East Canyon, according to Ben Browning, Plateau president. Monarch Assigns Drill Contract Monarch Uranium Co. is negotiating a deal with a large Wyoming concern for the drilling of Monarchs 54 uranium claims located, partly in Grand county, near Monticello, and partly in the San Rafael Swell, in Emery counexecutive ty. N. J. Cotro-Manevice president, said the Wyoming concern has three drilling outfits and is amply financed for the job. The arrangements provide that Monarch receive 40 per cent and the Wyoming concern 60 per cent of the proceeds. s, The merger program of International Oils and Metals in absorbing the assets of Uranium Chief and Intermountain Uranium is based upon a ratio of 100 shares of Uranium Chief for one of International, and 200 shares of Intermountain for one share of In- ternational. At a later date, the International combine was materially strengthened by merger with Apache Uranium Corp. The set-ufinds Intermountain and Uranium Chief snugly aligned with Big League outfits, a situation their officials are particularly fortunate to have consumated. Had the two small units tarried until r Apache joined up it is doubtful the merger terms for p Rixnrock Tidelands, Inc., has entered the Israeli drilling field in signing a management contract with Matsada United Drilling Company, Ltd., to supervise all Matsada oil drilling operations in Israel, William C. Kneale, Rim-roc- k Tidelands president, announced here Wednesday. - Rimrock Tidelands, Shreveport-base- d first Rimrock crew, to assume oil and uranium developdirection of the Israeli personal ing and producing company, will operation, Kneale announced. furnish a drilling superintendent, tool pusher and drillers for up to six complete rigs for Matsada, operating subsidiary of Lapidath-Israe- l Petroleum Co., Lid., which brought in the Israeli discovery well in the Heletz region last September, Kneale said. Under the contract arrangement, Rimrock Tidelands will also train Israeli personnel in drilling operations for Matsada, Some months ago Monarch Kneale added. shipped a moderate quantity of ore which Cotro-Mane- s said asPhilip G. Reynolds, experienced .66 cent uranium. drilling superintendent and curper sayed rently manager of Rimrock Tide-landHe left Feb. 13 with the An additional five crews will be dispatched to the Israeli field by Rimrock Tidelands as needed. Employed primarily since 1910 by H. L. Rowley, Inc., Shreveport drilling contractors, or affiliated companies, Reynolds has worked in various field capacities, including service as drilling superintendent in the Rock Mountain area and the Illinois Basin. Prior to his present position with Rimrock Tidelands, he served 18 months as drilling superintendent of operations in Greece s. for William G. Hells. Pacific Pipe Letting Final Contract Salt Lake Stock Exchange aft-te- Pacific Northwest Pipe Line Corp. is letting the final contracts for completion of the line which each would have been so favorwill Thursday, February 16. 1956 extend from the San Juan able as they actually proved to information The listed below is derived Basin New in to PortMexico be. from from sources regarded as reliable, land, Ore., and Seattle, Wash., not guaranteed, but believed to be correct. and the Canadian border in the Listed Stocks Bid Asked xBanner Mining Ol Jato will soon have some' northwest. 12.25 13.50 information for encouraging The objective is to supply natstockholders relative to progress at the companys two ore bodies ural gas to the Pacific Northwest, in White Canyon. the last commercial market area in the United States to obtain natParia Uranium & Oil Co. is ural gas. The area around Portreported to have hit some rich land and Seattle is growing rapuranium ore on its property in Marble Canyon, Ariz. The claims idly and offers a big area. Comet Coaln .06 .07 adjoin those of the Marble CanContracts have been let to varyon Uranium Corp. ious contractors to build the final 800 miles of the line which covers Sovereign Uranium, Oil and 2200 miles. Gas Co., with offices in Fort Worth, Texas, and New Fork Stock of Pacific Northwest is City, is reported to have enlisted the cooperation of Graytex Oil quoted at $28.25 a share. The & Chemical Corp., in annexing company has 2,533,000 shares of oil leases along the stock outstanding.lt pays no shore of the Gulf of Mexico. . off-sho- re Min-Orquoted 51c to 53c on the Toronto Exchange is said to be negotiating for a large lithium e is reproperty. Recently ported to have put a hole down and got 16 feet of high grade copper. It is claimed the company has 147,000 tons of high grade ore blocked out and is still blocking out. The company is also said to have molybdenite on the property. is said to have $192,000 cash in the treasury. There are 1,500,000 e, Min-Or- Spokane Stock Exchange Monday, February IS, shares of stock outstanding. peror Uranium Co., Paul Sugar, of Sugar & Ullmer, announced today. Sugar said he hopes to have 20 companies tied into merger plans in about two weeks. 00 Lookout Mt Lucky Friday Ex 02 06 New Era . jg .03 .07 40 12 '.is .07 04 .02 .21 .08 01 .11 .01 05 .08 .06 .09 02 er .01 04 17 Beeves Macd Sheep Creek Signal Silver Bowl Silver Buckle Silver Chieftain Silver descent Silver Dollar A Silver Dollar B Silver Ridge Silver Syndicate Sunset Mines Talisman Thomas Cons Vindicator Markets The following quotations are compiled Vulcan from information obtained from various Vulcan Ex brokers and believed to be correct. Whitedelf Stocks Yak Shoshone American Silver . J5 .01 .02 04 2.25 1.48 08 08 .06 2.40 1.54 .10 .09 je .02 ,n .04 01 .01 so .64 .55 .57 24 .53 .02 .01 03 .05 5 JO JO .09 .04 .02 jo3 at JO . Nev-T- 21 Oil ah 3000 at 8 North Lily 200 at 65 North Standard 11000 at Park City Cons. 1 2000 at 18 Park Konold 2000 at 3000 at 7 Prince Cons. 2000 at 6 Pinto Uranium 350 at 17; 50 at 13 Boyston 1000 at 3 Silver Standard 1000 at 6 : 2000 at 0 Tintic Standard 400 at 1J5 Victor Cons. 2000 at 3 Williston 7000 at 34 Zuma 2500 at 11 Bonanza 6: Curb Sales 1000 at 5 Colb. Rexall 3000 at 31; 3000 at 21 Comstock 7000 at 7 East Standard 8000 at 24; 2000 at 24; at TODAY 25 Empire Mines 1000 at 0 Horn Silver 1000 at 5 Kennebec 100 at 20 Miners Gold-3- 000 at 3 Pork Konold 2000 at 6 FOR THE SURVEY ... ..... at Eureka Standard 200 at 24 Grand Deposit 3000 at 3 .00 .03 .01 .08 .07 5.25 .40 .12 .05 SUBSCRIBE , 19: 1000 Comet Coal'n 1000 at 7 Dragon 200 at 1J0 East Standard 1000 at 35 Empire Mines 3000 at 5 : 406 at 4 .. Callahan Con CDA Mines CDA Silver Giant Dahl Uranium ... . Dawn Uranium . . Daybreak Uranium Gold Bond Golden Mess Gold 8yn High Aurora High Surprise Hunter Creek JO .00 Ottawa Paramount Pilot 8ilver Plalnview Apex 32 .03 National Uranium Nev. Stewart Western States Refining is soon to issue $1,000,000 worth of six per cent debentures with common stock at $52.50 a unit. There will be a $50 bond plus five shares of common stock for $52.50 a unit. There will be a six per cent return on the bond. Western States also has a pre 30 cents a share. The new six a share and pays a dividend of per cent debenture issue is being Atlas sold jointly through the firms of Asurite Creek Muir, Dumke & Light, and Har- Big Bismbarck rison S. Brothers. Caledonia Approximately 14 companies the proposed merger with Em- Hypothcek Lincoln Mascot Mines Merger Met Fine Cr. Mineral King Mohawk Nabob Nancy Lee Min-Or- e Cardiff reached $2.50 for a gain of half a dollar in a week. A great amount of Eastern capital has been put into the deal which involves completion of the Alta drain tunnel. 1956 . Prosper Oil 4000 at Boyston 1000 at 3 Tar Baby 1000 at 6 It 1000 |