| Show n. n OLMEN OILMEN RUSH TO TONE T NE NEW WELL NELL IN GRAND CO President of Company cC Confirms Con firms Exclusive Report in in The Te Telegram Th The pews pew published e exclusively In Th Telegram on Monday rondy of ot the bringing in i of ot an 01 oil well wel near nea Moat Moab Moab the tho county seat zeat of Grand county already has h re resulted resulted re- re suited in oilmen from Salt Lake Den Denver Deer De- De ver er and Wyoming Wyoming rushing to the t dis db- According to Nat Levi president and ad general gene manager of the th Western Westeri Weser Allies Ae Oil Ol Gas Gaa Co C. C which bro brought t in fa in the te well wel who ho reached Salt Sal Lake Le yesterday he met at Thompson a a number of ot oilmen from various sections on their the way to tc Moab and he predicted that the district would uld experience a real boom bo Mr r. r Levi Lev said that at a a. depth of 1150 feet teet the the- first oil oU sand was struck after penetrating feet teet of ot salt and fifty feet ot of slate l capping overlying the oil 01 sand sad which is i said to be feet teet thick At present feet teet of ot oil 01 is standing thic in the well en with about 1050 feet i standing of water standing stand stand- te teen ing above the oil 01 IdIng Id- Id Despite Despie the the great geat pressure of ot the water oil 01 Is la forcing its it way wy up to the top of ot the water a a significant proof that the oil would now flow if the tat oi fow water ter wa waa w cased off oft No attempt to case cue the water flow now off ott has hal been made mad or will be made Wl until adequate storing facilities have been provided it i Is ben said said Mr Ur Levi is certain tam tain that the well will wn develop a a barrel capacity when this is done two Mr r. r Star o Levi evi A is In ln the city to Purchase drilling rigs capable of ot sink ing to a depth of feet teet pumps storage storage stor stor- age tanks pipe and other necessary equipment As soon as possible more mom wells win will be started sorted a and the potentiality poten poten- mon olt ot of the two other oil 01 san sands sand k which lie le within a depth of at 1500 1500 feet below the first sand will vl be determined The oil 01 struck Is ls of a high grade gade testIng testing test test- ing 48 Baume It Is said that this oil will YI carry c as a high or higher ol ot of gasoline and kerosene than tha any of or the Wyoming Wyoming- oils generally considered Wyoming ois tic the highest grade oils in tte highest highest-gade ois the United States That more wells well will wl be developed in the Moab field feld and in the Salt lt Vale Valley field In m the vicinity of Moab oab but lying near the rt Denver r Rl Rio Ro Grande Grade railroad is b predicted by Mr r. r Levi who continued mation oH From ma of ot a a structural tr standpoint the formation for for- the te Salt Valley Valey and Moab fields Is is In in- inny my ny opinion as favorable to the discovery discover f of ot oil 01 as any of ot the forma fornia- of at the Wyoming oil al fields D Despite spite the fact tat that a good many experts were not favorably bly impressed Pressed with the chance or of th that developing oil i exists oil 01 at Moab we have proved oi in the first sands If It the P pressure e e of f the oil U I ta La great geat enough t to force It to the top of ot nearly 1100 feet teet of water standing upon the oil it stands to 01 reason that when this water Is cased my off of opinion opinion the f low flor oW the will will- willbe well wel be should Considerable produce In in the neighborhood of barrels 50 barels per day Now that lat we have ave oil 01 11 in ln the first pr sands day Si with wit the te great greatest St amount of ot expediency we et will Proceed c to W put down three wells to the h t three known oil sands tree wels NEW YORK MONEY I N NEW YORK YORK jan jan- paper pa- pa per pr 6 per cent Deman Demand 3 61 6 cables cable I Francs 1203 03 cables 1201 Guilders Demand GUider cables Demand Lires-Demand 1410 cables 1405 M Marks 1 cables 10 C 5 Time loans all h li sh loans Strong on all C dates 7 per perr cent Call m money Easy n Easy y-Easy g f i high 7 16 per cent r i Jo low w 6 per cent ruling rate e. e o per closing bid 6 5 per cent offered at st 6 per cent last lat loan 6 S per cent cent ofer |
