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Show British Oil Price Cut Expected Today I nitvd International Britain is expected to slash its oil prices by (2 to $4 a barrel Friday as the world waited with mixed emotions to see exactly how much and how members of the giant OPEC oil cartel react. The move, which follows 01 EC's failure in January to agree on price and production policies, could touch off Middle East and African price i eductions, several experts said In the United States, the stock market went nowhere Thursday as many investors waited for the news from London. There is considerable apprehension concerning lower oil prices," said Alfred Harris of Stifel Nicol-hau- s investment firm in St. Louis. "The apprehension stems from the possibility of lower oil prices creat- By Pri-s- s ing a bit of an international mone- - tary squeeze." Going to Cause Problems Any decline in the cash flow of indebted nations is going to cause problems, Harris said. But Paul Volcker, Federal Reserve chairman, told the Senate banking subcommittee, if the prices do decline, inflation in the United States likely would decline and that "would create a favorable climate for interest rates in the United States. decline Volcker said an would hurt some countries and favor others depending on whether they import or export oil. Lawrence Krause, a researcher at the Brookings Institution, a Washsaid if the world ington think-tana of oil fell barrel, "Mexico, $4 price oil-pri- TbiSaU Lake Tribune 1' which is now trying to complete agreements with l.lHto banks for a $5 billion loan, might have to borrow another $2 5 billion to $3 billion." Industry Executives Leading industry executives have predicted a reduction of anywhere from $2 to $3 50 a barrel on the current British price of $33 50 a barrel The London Times newspaper said the move was expected to result in a reduction of at least $2 50 a barrel and possibly by as much as $4 by the British National Oil Company. BNOC sources said any price change would be backdated to Feb or lli,rlitr I Vi(tk 1 one-yea- There were $18 3 billion in billion in New York r The note sold at an average price of 91 6 percent of face or par value in $5,000 minimum denominations Tenders at the low price of 91 626 weie allotted 55 pei cent of the issue. The last time the government sold r the note was Jan. 20 at a discount of 8 007 percent. The lastest rate of 8.308 percent was the highest since Nov. 24. $15 3 one-yea- 1. Britain's muih delayed decision to revise the price of its 2 3 million barrels a day North Sea crude followed pressure from customers, industry sources said. - gov- ernment sold of r noil's Thursday at an average discount of 8 308 percent, more than a quarter point higher than January's auction and the highest since November tenders, one-yea- WASHINGTON (At) The government agency charged with distributing billions of tax dollars to help industry develop synthetic fuels singled out two California projects Thursday for possible loan guarantees and price supports totaling nearly $200 million. In addition, it moved 10 projects, including two in Utah, into final round consideration for awards and dropped six projects, including '.wo from Utah, from further consideration. The Utah projects advanced were the Seep Ridge and White River projects, both in Uintah County while the Porta-Flamand Whiter-ock- s tar sands projects in Roosevelt were dropped from consideration. The Synthetic Fuels Corp., under 1981 s peat-methan- 5iif;v"iCye PUGDM Plexus Notes Increase In Operating Revenue Plexus Resources Corp. an- nounced its operating revenues increased by 78 percent for the six month period ending Dec. 31, 1982, when compared to the same period in 1981. revenues were $324,260. The company earned for the six months, compared to a $17,797 loss the prior year. As of $95,299 Dee. 31, working capital was $817,013, a 109 percent increased over 1981. 5 Plexus, which trades for a share OTC, also announced that "significant work " was undertaken during the past six months on the its three mineral properties Reymert silver project near Superior, Ariz.; the Silver Star property near Vancouver, Wash.; and its New World Gold property in Cooke Coun$1.65-$1.7- revenues for the first quarter ending Dec. 31 were $1.1 million, compared to $1.5 million the previous year, and the company incurred a loss of $156,000 for the first quarter, compared with earnings of $186,000 the previous year. Mr. Wall said the current figures equal a loss of 1 cent per share, com- pared with earning 1 cent per share last year. Altex trades for a share. $1.65-$1.7- 5 AT MS srtri coNvrrxTiow SFAMvrcs, thats thicku than ALn aaost tonc fusTujNiwt tarn Mrvttff tCVAL urn. SAP or 0 tiUWIt. INTrtHAk. STfTCM THAT CO ES Off W TMf IS novCD ALAI CAN ONUf yr M AMUTOM fftOM INVt He said the decrease in revenues was primarily due to the decline of activity by the company's wholly owned subsidiary, Parrish Oil Tools, Inc. The two gas wells, in Moffat County, Colo., have been connected to Mountain Fuel Supply Co.'s pipeline system. Altex owns a 78 percent ty. Mont. working interest in one well and a 15 In other news: percent working interest in the other. The company has applied for a American Technology Corp. of $3.52 per thousand cubic American Technology Corp., for- price each of the wells expected with feet, merly Cha.sko, in its annual stock- to average 1,000,000 cubic feet of gas holders report, announced that production is underway on its newly per day. A third well, in which Altex will developed portable cassette tape have a 12 percent working interest, recorder. will be drilled in the same area later The company said it has entered this spring, Mr. Wall said. into agreements with General EnMinerals West Inc. terprises Corp., Hong Kong, and with the Beijing Audio Industrial Minerals West Inc., headquarImport-ExpoCorp., of Peking, tered in Montieello, has given a China, for construction of the lease on uranium properties known recorder. Construcas the Bradford Claims in southeasttion and installation of more than ern Utah, subject to terms that call $140,000 in manufacturing equipfor immediate production. ment in the Peking plant. The lessee, Douglas Tangreen of Elwood G. Norris, president, said Tangreen Welding and Machine, is American Technology has received to begin shipment as soon as weathit for er permits, said company president its first $100,000 tape recorders and has entered into Thomas M. Nielson. To date, about an agreement with a sales group op250 tons of ore have been stockpiled erating in the United States, En- with an anticipated grade of .25 pergland and Australia for the sale of cent uranium and 2.5 percent the entire 1983 production of 250,000 vanadium. units at a gross sales price of $7 Extent of the ore body is unmillion. known, although Mr. Nielson said American Technology trades for the lessee anticipates mining apand proximately 3,000 to 4,000 tons based $1. will hold its annual shareholders on information obtained by drilling. meeting Wednesday, 2:30 p.m., in the In addition, Minerals West is evalMarriott Hotel. uating the possibility of resuming Altex Oil Corp. production from the MiVida mine Altex Oil Corp., Vernal, has re- (MiVida is in a joint venture with leased first quarter revenue and Minerals West as operator holding a both down from 51 percent interest) because of the earnings figures and announced somewhat improved price of the previous year the connection of two gas wells to a uranium. Minerals West sells pipeline system. for l16th-332ndAltex President Cecil C. Wall said er LAftOC CAPACITY i?h iiAWpy PtOtr TO HOLO Vtk.OAAk.es. tASV NO-D- U INSTALUCTIOH. Protect valuable! in office or home with burglar resistant, Veri-SafEasily installed in desk or bureau drawer. tri-bo- lt e. JRUorthern JACOBSEN QUARTZ HiATGR rt VGR5 VJGLL two-spee- n 40L niv thrower letter-of-cred- 9V2H-INC- BTU p, SaSS 88 8V2W X H to 11H-INC- 1500-watts51- 88 H 88 60LX2P2WX 13H-INC- 4401. 24f 38 H 50LX21V2WX BTU. QUANTITIES 'SSSl 1 40LX14V2WX Jacobsen with engine, recoil starter. ELECTRIC X 9V2H-INC- Northern with energy conservation switch ranges Sno-Bur- st Wind-O-Cov- ONLY H e all season insulatorprotectors. 333 SEAT MOT INCLUDED er SFI SiA? I INDUSTRIAL BUILDING FOR LEASE PR1GHAM CITY, UT. Parking For 200 Cars 33,0Q0 Sq. Ft. Air Conditioned Expansion is Available Dock Doors, Truck & Railroad High Fire Alarm System For Information Contact: Farrell A. Jensen 829 last 200 North Brigham City, Utah 84302 2 after 5 p.m. Phone (801) 723-640- a - 12-inc- Embossed embroidered, padded commode scot in assorted colors and designs. h pirn ACUSSORtES NOT INCLUDES fs TABLE EACH Polyethylene plastic sheeting for indoor or outdoor use. 10 x roll, your choice clear or black. ?','$ i - 25-fo- ot Hobbywork table with butcher block 20 x h top and white enamel legs. 32-inc- l 300SD (Mock ease ihis magnificent 19S3 32034) Mercedes-Ben- PRicr (KJB REGULAR LOW, LOW PRICE Assorted cabinet hardware by Belwith. TEMPEST FUEL -- &J3 tahk SOCKET is J Disposable propane fuel tank for standard propane torches, lanterns and other propane appliances. 14.1 ounce. Buffalo 38-inc- h 1 set with 4521. 22-pie- drive. Buffalo 1 17-P- C. driv. 149 02-41- -- mcnn THROUGH SUNDAY, FEBRUARY 20 rreci hours WEEKDAYS 9 to 9, SUNDAY 1 0 to 7 HOME IMPROVEMENT pamcnt required, Ken Garff Imports sail lake t li Youve earned t non-corrosi- z automatic turbo diesel with bun roof for as little as $6 i9.0() a month, plus tax. Limited offer. First and last month's 424 South Si.ur HARDWARE es DESI6H-A- - Mercedes-Ben- z Fluidmaster ballcock with control components to save water. 200A. hmidymah P0LY month! p. BALLC8CK OFF White vitrous china, grade A, rough commode with reverse trap. 421 it. ((o EAST f,TODAY T ml ill fire in Congress for not yet handing out any of the $15 billion appropriated for svnfuels development since the agency's creation in 1980, said it "letis willing to sign ters of intent to help finance tar sands and coi l gasification projects in California. Coi potation Chairman Edward Noble so far has sent two such letters promising to fund the Santa Rosa oil sands pi eject in New Mexico and the First Colony project in North Carolina, if certain conditions are met. Noble also has said he is willing to send a letter of intent offering $50 5 million in loan guarantees for the Calsyn heavy-oi- l conversion project in California. OTC Brief Operating 1H, 2 Utah Synfuel Projects Eyed iri) - he $7.75 billion worth WASHINGTON Friday, February WEST VAUEY CITY ISS, |