Show v OIL NEWS CAUSE GAUSE STOCK TO JUMP Stock in Vernal Well Takes Jump With Kith Show of or Oil at Tc Test t. t News that oil persistently y bubbles through a column of ot water G COO feet teet deep deel at t the tho Ashley valley t test st of the Utah tah Oil and nef Refining l ing company furnished furnIshed furnished furn furn- traders on on- the Salt Lake Stock and Mining Exchange Monday lo y with market maret features of ot an encouraging nah nature le The Tho news recycled r c the tho price or to loc after which it subsided to with over o shares dealt hi in iii Tuesday interest i in Ashley valley aley activity was at Its height owing to the fact drilling had been bean resumed to toward tord rd the tho Sundance with tb the bit puncturing a a highly formation One sand it itis Is repotted reported Is making ten barrels barrels' daily laii On the strength of encouraging reports from 3 I the well and outside buy y over simar shares es sold between the 1 prices of or He and 17 an overnight gain of four our points Closing offerings were heid ld at Wednesday during the time course of or trading in shares time the price advanced to lo but later declined to The The- Thelast last trading vas was done at 15 2 1 1 c. c With oil bubbling up from n. n l sandy shale stratum at a ad d depth doplh o of 1765 feet operations stopped Satur- Satur dap to and set sel casing This decision was prompted by the time fact act that the drilling superintendent lid did not think it advisable to lo continuo continue deeper leeper without every precaution taken Laken should a substantial oil producing prot pro pro- t stratum be struck on ing operations After Alter mudding og the gas horizon at it 1687 feet producing cubic feet of ot gas drilling was resumed ed- ed through ed a sandy formation in which small showings of oil were Yere struck truck In Information i is hi explicit however that no sand has been struck A blowout around 1735 feet that unloaded Ul the well was Ivas thought to mean the piercing of another gas sand santI sand but it was found that gas was leaking under the time shoe from the stratum at 1687 1662 feet c L The was opened slightly tn to t r. r liev the pressure an and drilling oil oil- I ward Ira rd f resumed sume j I Several Se gOO good l showings of oil had been struck on resuming drilling The Time well is making about aboul ten barrels of oil cin daU daily 1 I In reaching tho the depth of 1808 i feet in the time Morrison the drill has J passed through alternate beds of ot Tandy sandy material and sandy shale That the time thin sandy shale beds struck should make some sonic oil is taken taken taken tak- tak en en as an exceedingly favorable indication indication indication indi indi- cation cation for if the time shale be beds ls in the objective object Sun Sundance at at 2000 2000 feet Ceel or low lower r are arc as ts productive as they ther are areat areat at lies lies' dome lome oil men belt believe eye that the Ashley valley well should shoud be an Important imI important important im im- I producer el I |