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Show February 24, 1956 Page Three WESTERN MINERAL SURVEY Oil, Gas Activity Soars Upward In West, Midwest States Thunderbolt Lists Three Wells In Production Cataract Lease Covers 10,000 Gas, Oil Acres With three producing oil wells run checks in frequently, Thundercoming bolt Uranium Cprp., is enjoying substantial progress. Wesley D. Webb, secretary and treasurer, said Thunderbolt has a 9 per dent working interest in the McGuinnis lease, at Kimball, Neb., on which there are two producing wells, the first, producing 200 barrel&of oil a day and the second in excess of 150 barrels per day. Thunderbolt also has brought in a producing oil well on the Johnson Hill East No. 1 State (Lease in Logan county, Ohio, which General Resources, Ltd., of Denver is operating. A report by General Resources A total of 10,629.52 acres of natural gas and oil leases in the Green River Basin, East LaBarge area, Sweetwater and Sublette Counties, Wyoming, has been acquired by Cataract Uranium Min-nand Exploration Corporation, in operation and g Phoenix, Arizona. acres of toremite and autunite properties near Globe, Ariz. on which a satisfactory exploration program has been consummated. Dr. Carman Redland, of Denver, Colo., chief engineer and geologist of Cataract is supervising the drilling program, man- General Manager Herbert J. agement announced. Steel, who made the announcement, said the properties are located on the Pacific Northwest Pipe Line. An undisclosed number of shares of Cataract common stock dated Feb. 17 indicates 11.55 barrels of oil per hour from Johnson Hill with no water. Thunderinterest in bolt has a the Johnson Hill property comFive companies hold interest in the test oil and gas well being prising 240 acres. drilled near Lander, Wyo. According to Utah Galena president In addition to approximately Ben II. Bullock, the companies included are Utah Galena, 9 per cent interest Thunderbolt Syndicate, Del Marva and Idaho Oil and Mines Corp. Left to also has a one per cent royalty are: Mr. Bullock, Denton W. Nelson, tool dresser and John right interest in the McGuinnis lease. W. MacArthur. Webb said the Johnson Hill well is now on production and tested btter than 270 barrels a B M day. He said Thunderbolt also has other acreage in Colorado, from lurgy. cobalt Wyoming, Calif., and Utah which which science can metal, new The process was developed at gain has aroused the interest of both of of the knowledge the properties Bureaus Holla, Mo., station independent and major oil this element and its compounds, in one phase of investigations now can be produced with a new aimed at increasing recovery of method developed by Bureau of cobalt and nickel from important Mines metallurgists. reserves of these metals in southOl to Meet western Missouri. Operations of 01 Jato UraniSecretary of the Interior Daug-la- s um Corp. is brought up to date Although still in the laboratory McKay made public a Bureau in a 'progress letter now in prep- report describing how metallic co- stage, research has advanced to aration and scheduled to go into balt 99.99 per cent free of con- the point where several pounds the mail either at the end of tamination by other metals was of nearly pure cobalt are produced at a time. of next produced through electrolysis. the week or the fore-paweek. Careful analysis of the metal In this process metals are sep- shows only traces of calcium, copInformation predicated upon the letter indicates Ol Jato has arated and deposited from a solu- per, iron, magnesium, nickle and started shipping in White Can- tion by passing an electric cur- zinc. yon and is outlining a substantial rent through the solution. Extremely pure metal is needdevelopment program. for testing by scientists seeked Cobalt, recognized as one of the most needed metals of the ing to learn more about how coage, can be fabricated balt and its alloys behave under will withstand the different conditions." . Secretary that into parts RANCH CAFE high temperatures of jet engines, McKay explained. Moreover, he added, requiresuperchargers, and turbines. Jim and Opal Fullerton ments of cobalt for industry and As an alloy it makes vital parts defense are steadily mounting al3573 SOUTH STATE of rockets and guided missies though a large part of our supPHONE AM more heat resistant and, used in ply must be imported. Since purcutting tools, it has revolution- ity of the metal is an important THE COLDEST BEER ized the speed of lathe work. factor in most of its applications, Bureaus process is a signithe THE BEST FOOD The versatile metal has many ficant step towards increasing our other important applications in self THE SLOWEST SERVICE sufficiency in cobalt. war weapons and in such fields as medicine, ceramics and metal OIL COMPANIES are jumping into the uranium field vigorously. It is pointed out that they can do expensive drilling and exploration with tax deductible dollars, whereas smaller companies have to use their equity capital. one-eight- h New Cobalt Method Told by 9 High-purit- y Jato . rt Crescent To Sink Well in Utah was given to G. W. Anderson, of William R. Pollock, president Salt Lake City, from whom Cataof Crescent Eagle Oil Co. and ract acquired the properties. vice president of Mountain States Management said Cataract in- Development Co., said today that tends to asemble other blocks of is Crescent Eagle negotiating with oil and gas properties along with a two gold mines and one copper major company, to drill a deep mine. test well on the Crescent JuncSteel said Cataract has begun tion (Utah) block, which includes a large scale core drilling proof both Crescent Eagle gram on the companys property property Mountain and States Developin Gila County, Ariz. Management disclosed the company owns 375 ment Corp. Homestake Lists Good Year in 55 The February 15 News Letter of the Nevada Mining Association quoted Donald H. McLaughlin, President of Homestake Mining 2o. of South Dakota as expecting 1955 earnings to be almost as good as 1954 ($4,409,000) based Pollock said it is expected a geological examination will be made immediately and drilling will get under way during the year. Crescent Eagle and Mountain States own adjoining properties and have practically the same officer personnel, a condition which has suggested to prominent stockholders the possibility upon earnings for the first 10 of a merger. months of 1955, which was $3,-082,0- This total does not include earnings from uranium properties wholly owned by Homestake, two of which are Little Beaver Mining Company and La Sal Mining and Development Company, which showed a consolidated profit of $409,000 for the first 10 months of 1955. u(tAcribe Tpcfaif Ow the high-spee- d OFF 50 14 WHILE THEY LAST BRAND NEW ELECTRONICS GEIGER COUNTERS AND EY ANIUM COMPANY J. TRACY WOOTTON SCINTILLATORS INVENTORY CLEARANCE Best Wishes and Welcome SAM'S TAILOR and CLEANING COMPANY 524 East 3900 Sonth Phone AM Welcome to 306 Phillips Petroleum Building PHONES: EM 4-75- 52 or HU ART'S PLACE HOLTERS 1558 E. 12300 South 5-22- 48 Draper, Utah Phone AM 9-35- 51 Scientific Specialties Dept. 1 13 N. Main St. Helena, Montana " |