Show M M I ANOTHER WEll TELL SUON TO START Monument Oil Oi Company to Prove Structure in San Juan County Announcement was made yesterday by Perry A. A Clark Cark vice president and general manager of the Monumental Oil 01 company which controls nearly acres in San Juan county that the company's first well wel would fe be In ln within the next week or orten orten orten ten days das Mr Clark stat stated d that the company whose headquarters are located In Erie Pa with wih th the op operating department depart depart- ment In Salt Lake Lkc CIty has be been n fully uv tUly financed principally by Eastern capital capital capi capi- tal but that with the wih object of hastenIng hastening hasten- hasten Ing the production ot of the San an Juan JURn field to barrels a aday day the minimum mini mini- mum construction r output ift of necessary a pipeline l to oe s secure and as the a means of aiding dl most of whom Ifo livo in Salt fl i lake Lake City Y to hold their land until the tile field Is Ie actually proven has decided to set aside a small smal amount of ot stock that can be pur pUr- chased we only holders of oil and gas a per per- mits on noKe the f s structure i where v the is nearly ready to be- be 1 ging operations n Mr Clark a said d Duo Due u to the remoteness e of f tg this ile field Id from railroad transportation a production production pro pro- of at least leat barrels of ot oil per day must be Ie assured before we 01 can market It as ae this amount will f. f wil warf warrant warrant war- war rant a pipeline Tho shallow wells el al already al- al l ready f cm drilled In this rs district rc when h properly handled will wi probably produce pro pro- duce a little over 1000 barrels barels of oh oil per day and our object Is 18 to increase 01 this to the amount necessary so as to make male the field commercial We Ve are all al operating under the terms of the oil 01 and gas leasing bill bi and the requirements of the permits Issued under this act require tle certain acts on the part of the tho na namely 1 Monument 1 and post permit no notices no- no tices within ninety days 2 Within 2 2 Within six months Install an adequate drilling outfit and commence actual drilling operations I 3 Within 3 Within h one year to o have drilled to a d depth of at r least eKr o ot t feet e t hole l l noi not less than six inch diameter I 4 4 Within Within two years to drill dri to a a I depth of at least 2000 feet unless ol oil or gas I is struck tr k sooner 01 I orf The act of kC C congress Og s. s January 11 1 1922 grants gants an extension of ot time In which to comply with items Nos 2 2 rand 3 r and 4 above state if I tho the has hai exercised diligence the life of the permit permit per per- mit is therefore extended from a two two- year period to three years In n our opinion the Interior department department department depart depart- ment will wi hold that the term exercise of diligence in said act will mean meIn acts act other than the mere am and posting of notice O on t the claim It 1 is I c 01 rO Ihl held by a number r rf of f authorities t that tha If a is Ie interested In a a. test well wel drilled In the field feld fo for forthe i the purpose of proving the structure that this fact will wi be a valid vald reason fo for delay in full ful compliance with wih th the terms of ot his permit for the reason that he Is actually spending spending money in making a test of his territory On both the Circle Cliff test of ot the Ohio Oil OH company and the San Rafael test of ot the Carter Carer Oil 01 company a number num num- f her ber Joined of in fer these te tests e on f those these by s contributing structures structure Y t towards the expense of these wells and the benefits received they from this participating Interest were as follows follows follows fol fol- lows They complied with wih paragraph 2 of ot the permit by showing as exercise exercise exer exer- cise of ot diligence by participating In Ina Ina ina a real test tes of the field They received private information as to the log of ot the well wel For a nominal consideration they benefited b by the conclusions obtained in the test In both these no Interest attached to tany ny possible production |