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Show OIL SHOWINGS IN ARROWHEAD AT 1 2f FEET Drilling Operations to Be Placed on 24-Hour Basis in Near Future, According Accord-ing to Manager C. D. Alsop After a temporary shutdown waiting for new drilling equipment, equip-ment, the Arrowhead Petroleum Corporation again has steam up and is making hole. At a depth of approximately 12S5 feet. Charles D. Alsop. general gen-eral manager, reports the formation for-mation as a hard lime with seepages seep-ages of oil continually showing in the slush pit as the hole is bailed. This showing is extremely encouraging, en-couraging, for while it does not prove the certainty of a sand of prolific oil quantities underlying under-lying the lime formations, nevertheless nev-ertheless the oil showings are coming from depth and as the drill goes deeper the runch Bowl structure may prove up southern Utah as an oil domain of tremendous potentialities. Regardless of deprtsMon. Mr. Alsop reports that he has recently re-cently entertained propositions from various financial factions who are awakening to the possibilities possi-bilities of oil in this locality and who are desirous of placing tbe securities of Arrowhead Petroleum Pe-troleum among their clientele a? an invostmen: of unusual possibilities. pos-sibilities. (Continued on last page) ARROWHEAD (Continued from page 1) From now on until the Arrow-j Arrow-j head p'-ni-trates the Coconino j sand, every foot of the way will i be drilled in the rnot careful j manner. In fart, it is intended ! to core-drill the hole every foot '; of the way after once getting j through the present Kaibab lime. J Financial interests now nego- tiating for the exclusive sales rights to any further Arrowhead securities that might be offered for public participation in the completion of this initial operation opera-tion know that in a "wildcat op-j op-j eration" of this character, the I intrinsic value of securities enhance en-hance tremendously, overnight, once oil is secured. Consequently they are negotiating with the hope of making definite sales arrangements before the expected expect-ed oil sand is encountered. The company intends to work three towers in the near future, or in other words to increase its drilling operations to a full 24 hours a day. This additional work will materially expedite the progress at the well and will prove up the first prospective sand at a much earlier date thanhad previously been hoped for. |