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Show I PLEASED WITH PROGRESSON PROGRESS PROGRESSON I ON CANE CREEK 1\ELL 1 ELL "ELL " 1ELLC S \ ELL ELLC I IC C C Morgan MOrg of Los Angelesvice Angeles , I Ivice vice president of the Cane Creek Creeh . 011 Oil 011I 011company Oilcompany Oilcompany I company , has spent the past week weekin \ weekin \ eek eek1m 1m in Moab , on business busmess connected wIth wIthi wIththe withthe withtl-ie withtl ie i the - company Mr Morgan is pleasedwith pleased pleasedI pleasedwIth pleasedwith wIth the progress being bemg attained attamed indrilling in indnlImg indrilling I dnlImg drilling the new well on Cane CaneCreek CaneCreek CaneCreek Creek . dome , Vr which hIch is an offset to toi tothe tothe i the Frank Shafer discovery well wellwhich wellwhich i weIlli weIllwluch wluch which came in as a gusher some weIll 10 10years I Iyears : years ago and produced large quan quan- quantities quani quantItles quantities - i tities tItles of oil 011 before the hole was Vras lost lostIon loston loston on account of mechanical troubles troublesThe iThe I IThe Ion The new w well Vrell ell is now at a depth of ofI ofover ofover I 0\ 0 0er over encountIermg \ er 850 feet and has been encount encount- encount-I encount I encountering encountering - - | I encountII ering ermg showings sho\\ings sho ings \ \ of oil 011 and gas duringthe dunng during duringthe , I Ithe the past 300 feet The obJecth objective objectivehorizon objectivehorizon e eI ehorIzon I ( horIzon is ! tne t1e tine sand at 2025 feet feetwhich feetwhich I which made such a sensational per performance - I perII formance in m the discovery Vr wellMi well wellMi ell per-I per I Mi M1 Morgan states his company isfully IS ISfully isfully fully financed to carry the well to tocompletIon tocompletion tocompletion completIon and he expects the ob- ob obJectIve objective ob objective toI - - I jective sand will be reached by byI byJanuary byJanuary byJanuary I January byI I |