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Show OIL & MINING JOURNAL Page 8 September 2, 1969 Huge exploration venture covers 7 million acres A big new oil and gas exploration program, covering more than 7 million acres in the Rocky Mountain states has been announced by Union Pacific Railroad and Standard Oil of Indiana. UP. said the program would ' cover probably the largest land area ever involved in a single exploration undertaking in this . country. The program American calls for Pan Petroleum, a subsidiary of Standard Oil, to conduct the oil and gas exploration in Wyoming, Colorado and Utah on land to which UP owns the mineral wholly-owne- d rights and which are not committed to other companies. The agreement covers oil and gas rights only. The railroad company will retain about 25 per cent of the development rights, along with royalties on production. Terms of the agreement provide that Pan Am will give the UP. an annual cash bonus for the first three years amounting to an aggregate of $9 million, and it will spend $15 million in exploration funds over the first three years. The amount to be spent could be several times as great as the minimum requirement, the companies said. About 50 per cent of the land is in Colorado, 40 per cent in Wyoming and' 10 per cent in Utah. The acreage generally follows the UP. railroad tracks through the area. HUGE OIL EXPLORATION PROGRAM will be carried out on these Union Pacific Railroad lands by Standard Oil. The 7 million mOes of claim lands will be the largest exploration area covered in one program in this Lee S. Osborne, chief executive officer of UP.s natural resources division, said the agreement would greatly accelerate the search for badly needed oil and gas reserves in the UJS., which have not kept pace with consumption in recent years. William T. Smith, Pan Am vice president and Denver division manager, said the agreement opens to detailed large areas of exploration potentially productive lands. country. Pan Am will conduct an intensive exploratory program on the UP. lands, including seismic surveys and gelogical IMUK analyses as well as substantial wildcat drilling, the announcement said. 210 Kearns Bldg., SIC, Utah additional five years on payment of further rentals and exploratory expenditures. geology and professors of geology-relate- d sciences from universities in the United States,. Canada and Indonesia have been taking part in a field conference in the Basin and Range province of Nevada and Utah. Battle Mountain and Winnemucca. A Basque party and dinner was held for the ". . . . r.v.v sponsorship of the National Science Foundation and the Mackay School of Mines, University of Nevada. This, the Second Basin and v. Can SILVER MINING STOCKS Purpose of the conference was to make available to geology professors new concepts of instruction through on-sit- e experience in one of Americas most challenging geologic regions. After preliminary sessions in Las Vegas, the conference moved by chartered plane on Aug. 16 to Salt Lake City for lectures and field trips to important mining and geologic study sites in western Utah. From there, the participants traveled in a caravan of nine cars to Ely, Eureka, Elko, Carlin, v.v.-.v.v.- v W. 412 Sprague, Spokane, Wash. 9f2bl, Tel. Sm"' v s-- A . 130-443- your story in word interested readers 0 6wfaflg ' .!t!t BiBE)(aiy Service Immediate stockholder mailings Accurate lists of sfoddioMors both engraved or puncheon! certificates SECURITIES TRANSFER, INC. Registrar & Transfer Agent 1935 South Main St., Suite 538 Salt Lake City, Utah 84115 485-039- 3. JlgBflBBBglfl DISPLAY AD A.V.A (SocraiputteG'Dsed SfiocCx Opoinisffei? .v.v.v.-.;- . and picture to Member Spokane Stock Exchange I4. ,'Ts?S V.V V.V. Profits an Image CO. Only $2.00 a column inch. Deadline: Wednesday proceeding desired publication date. Call: 298-240- 3 and one of our creative representatives will assist you. CLASSIFIED AD : For as little as $2 for 20 words A 10 for each addi- tional word you can tell your story. Deadline: nesday preceding the Monday publication date. Mail to: Wed- Rocky Mtn. Oil & Mining Journal P. 0. Box 19243 Salt Lake City, Utah 84119 PAYMENT WITH ORDER PLEASE I . Build Wo tpocioliio in silver, gold and uranium stocks and selective ponny mining stocks. Wo accopt collect calls on buy orders. Conference, has been a repeat by popular demand of the highly Science Foundation and Mackay School of Mines in 1965. Tell have profit potential RANGE 4c TO $40 PER SHARE & I Wiays group at the Winnemucca Hotel Aug. 23, and the conference terminated in Reno Aug. 26. J. H. DILLON V.V 62 v.v.v.v.v. v.v.v.v.v. Create Range Geology Field successful first conference conducted by the National 521-35- V.V V.V V.V I ., Av.v.vivvv-AXvTvX-AvXv:-:-:-:-:-:-::-:-'.-:-:-:.- V.V-v.v.- 16-da- y The meet has been under w, w, W AV 399-556- Geology profs tour Nevada, Utah Thirty-si- x i '.V, w. And Complete Facilities in Ogden 6 2476 Washington Bhrd. The program will be conducted by Pan Ams Denver division, which handles operations in 15 Western states including Alaska. , Offering Service in the OTC market Stocks & Mutual Funds The pact includes options to extend the arrangement on selected acreage for an The Rocky Mountain area has enjoyed substantial oil production for more than half a century, Smith said, and we believe that large reserves of oil and gas remain to be found in the area. & |