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Show Pap OIL & MINING JOURNAL FEBRUARY 23. 1970 l Crest Resources announces Colorado gas well In a report to shareholders, Crest Resources Corp. has noted its interest in a gas discovery being collected per one million cubic feet of gas, the Crest report said. The discovery well is on a 1,440 acre lease block in which Crest holds a 25 per cent interest. The company recently obtained a 25 per cent interest in a 50 per cent lease covering well in Morgan County, Colorado. The well, No. 1 Twombly, is completed flowing 3.2 million cubic feet of natural gas per day, according to Petroleum 3 Information. Crest has a twenty-fiv- e per cent interest in the 5,347-ft- . well which is reported producing through performations at 5,238 to 5,273 ft. The discovery, is four miles north of the Allen field and the same distance northeast of Lee field. Approximately 10 barrels of associated oil production is 20 acres adjoining the discovery lease block. Negotiations are currently under way between Crest and the other lease working interest owners and the Colorado Interstate Gas Co. concerning a gas purchase contract. The mile discovery is only one-four- th from one of Colorado Interstate's gas transmission pipelines. Pending production testing Bullion Monarch and a decision from the State of Colorado Oil and Commission spacing, additional development well locations will be announced, Crest announced. Crest also announced a 25 per cent interest in a planned offset to a recent oil discovery in Nebraskas Morrill County. Crest 400-acr- e lease participates in the block in the Bridgeport Field in which the well. No. 1 Lapaseotes, is located. The well location is s of a mile three-quarter- northeast of the newly discovered well which tests indicate to be capable of producing at the rate of 1,536 barrels of oil per day. Oil Co. has participate Ariz. weather permitting, for further exploration, the release said. Mericle announced plans to in a joint venture Mericle and Advance agreement with Advance Resources, Resources Corp. to explore and develop 1,280 acres in Wyoming as a possible uranium deposit. Surface samples of the area show interesting ore in some areas, according to a news release from the company. The publicly-trade- d both confilliate companies of Investment noted a recent Atomic Commission report that out Wyoming as ranking Progressive Corp., Energy singled high in uranium-reserve- s. In another development, Mericle Oil announced companies will core drill, Bullion Monarch mill is the only flotation mill in operation in' Nevada, Morris said. Start up of its new million mill dollar silver flotation located at Austin, Nev., has been announced by Bullion Monarch Bullion Monarch has an extensive history in mineral Co. The mill is now operating on a schedule and regular shipments of concentrate are being made to the smelter at Tooele, Utah, according to Robert D. Morris Sr., chairman of the board of Bullion Monarch 24-ho- exploration and has interests in 19 mining properties with deposits of silver, gold, lead, ur copper, uranium, barite, mercury and sand and gravel. A 254-claiproperty owned the by company at Marysvale, Utah, is currently being explored Co. are processing 200 tons of ore per day, Morris said, with an average yield of five ounces of silver per ton from the dump materials. The price of We silver at this time Smelting, Refining & Mining Co. under a agreement. is Morris also said that an additional 200 tons per day acquisition of 560 acres of capacity at the mill is being recreational land one mile from completed so that Bullion the Colorado River in Bullhead Monarch can profit from custom Gty, Arizona, in the form of milling demand from other mines in the area. The new Waterview, Inc., a wholly-owne- d subsidiary of Mericle, valued at three-quarteof a million dollars. Mericle owns 23 producing oil wells in Bakersfield, Calif., and extensive areas containing mineable ore. Surveying of Durango to resurvey all of the Puzzler mining properties comprising more than 2,000 acres in the Pioneer Mining District near here. J-- . of grades antimony rs Crest Resources 33 wells in Texas, the release stated. Puzzler Mines surveying properties The announcement was made in Rico last week by president Kranenberg of Puzzler Mines who said that preliminary work on the project was started north of Rico on Feb. 7. Kranenberg said exceptionally good weather conditions and a minimal amount of snow on the profit-sharin- g The company holds the White Caps Mine at Manhattan, Nev., under lease option and officers say plans are under way to reopen the upper level of the mine where there are known ASK US about Puzzler Mines, RICO, Colo. Inc., of Rico has retained the services of H&T Mapping & m for development by U.S. approximately $1.90 an ounce. Mericle Oil enters joint venture PHOENIX, fires up silver mill Gas on well tht activities of CREST RESOURCES ground has contributed to expediting progress of the survey. The survey is expected to take until last summer, Puzzler properties will be evaluated for their mineral potentials with an exploration and development already in the planning. & COMPANY, INC. 29 EAST SECOND SOUTH SALT LAKE CITY. UTAH program (Ml) S21-3- S30 I This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made only by the offering Circular New Issue November 3, 1969 10,000,000 Shares Common Stock Sdig,D HmeGGijy ($0.02 Par Value) Dodg Price $0.03 Per Share Copies of the offering circular may be obtained from the undersigned in any state in which the undersigned may lawfully offer these securities. Gf&Mitied', ofio. 12 Exchange Place Sait Lake City, Utah Phone 521-672- 0 Build Profits ? Create an Image Can ; 1; v .vi,' ;f :-- A Only $2.00 a column inch. Deadline: Wednesday proceeding desired publication date. Call: and one of our creative represent tatives will assist you. 298-240- 3 |