| Show to the stockholders of the ig six oil company 4 we deem it proper and to the best interest of all the stockholders of the company to issue a letter at this time in order that the stockholders and all interested parties may be fully advised as to the recent developments affecting the company and as to its immediate plans for operations the company has recently entered into a contract whereby it secured an operating agreement on the G R randall permit situated on the crescent dome in the vicinity of thompsons Thomp sons grand county utah by reason of the unique location of this permit with reference to present wells on both the crescent and salt valley structures it had been sought by many of the larger oil corn panics operating in that vicinity negotiations whereby we recently obtained this permit had been in progress for several months and we feel that the company is extremely fortunate in having secured it after securing the randall permit we then entered into a contract with the utah oil refining company whereby the latter contributes the sum of for first drilling operations on a fifty fifty interest with the big six company and immediately perfected plans for the drilling of a test well to a depth of 2500 feet the rig and tools are being assembled and moved to the drilling site and no time will be lost in starting operations and carrying the well to completion ed stewart who has long been in the service of the utah oil refining company has contracted to drill the well on a footage basis insuring prompt and steady work until the test is completed our company has full and complete control of operations on this well the location of the well has been made by H W C prommel geologist of denver and ed H watson geologist kofl salt lake city both of whom are experts in their line and well known to the intermountain oil fraternity the location as made should with a depth of 2500 feet penetrate the dakota and several sands in the morrison formation all of which carry excellent possibilities for oil production we have sold a considerable block of our treasury stock to meet a substantial portion of our end of the drilling obligations with the utah oil refining company and feel that we can complete our financing with little difficulty however we may be required to otter some stock for sale before final completion of the well in addition to the excellent opportunity we have for oil development in the crescent well wa again call your attention to existing conditions on cane creek dome where big six has offset acreage to the well being drilled and extensive overriding over riding royalties the second well offsetting the first discovery well which was lost by of reason many un forseen mechanical difficulties is now drilling at a depth of 1500 feet this well according to the best authority is due to cut the horizon where first discovery was made at about 2250 feet which depth should be reached within the next 30 or 40 days we strongly believe this well will be a winner the big six has also entered into negotiations for the pickett permit located on what is believed the to be the axis of the cisco anticline on which gas wells are located and are being used for manufacture A of carbon black this is perhaps the nearest thing to oil production in utah today this structure drilling program is now under way calling for the drilling of eight or ten new wells on these operations will cover a large of finding the the oil horizon area structure with a view of without doubt our area secured through the pickett permit if we are successful in our negotiations will prove to be a heavy OIL gas producer with very favorable chances for we will have a ready market for any gas production obtain company we may with the crystal carbon now operating the carbon black plant upon this structure also the big six company has valley anticline which just secured a contract on the L L taylor permit on salt gives us a play in the that structure vicinity of the utah southern well now drilling on we believe these matters to be of vital interest to the company and offer the greatest stockholders of the big six oil well encouragement we have had since the loss of the first cane creek amr at or beof stock wo recommend that you do not sell but stock in the 2 past on a high i market will S prices now doted at 5 to 6 cents many who purchase surely be able to cover their losses by buying additional experience a steady on prices for the next if S at moab utah we roer are usually cal t in touch orders with 0 direct to tho big six oil company stockholders who aro required to sell very truly yours BIG SEC OIL COMPANY I 1 P W STRONG president and manager A |
