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Show MAY 18,1970 OIL & MINING JOURNAL PAGE 3 Flying Diamond inks pact with Gas Producing for Utah venture Flying Diamond Land and Mineral Corp. has announced the closing of a transaction with Gas Producing Enterprises for a cash consideration of SI. 700, 000. Enterprises, Inc., a wholly-owne- d subsidiary of Coastal States Gas Producing Company of Houston and Corpus Christ i, Texas. assume Producing F. Gary president vice Sprouse, of Flying Diamond, stated that the transaction involves a pooling of acreage and leasehold interests in the area of the lucbcll Oil Field in Duchesne and Uintah counties, Utah, and the purchase of a part of Flying Diamond's existing production and leasehold interests by Gas Gas Producing Enterprises will operational lhll!j)lkDI companys existing wells. of operating Assumption responsibilities by Gas Producing Enterprises is expected to free the management and staff to devote maximum efforts to the interests and companys activities outside the Bluebell Field. According to Mr. Sprouse, the management of Flying Diamond expects the transaction to result in accelerated development of the jointly-owne- d and operated and substantial properties, increases in production from the anticipates accelerated growth of the company in all its activities, the management said. The company invited further inquiries concerning details of the transaction be directed to its offices at Vernal, Utah. Diamonds therefore, management, Admiral Consolidated finds commercial ore A major exploration program has been completed at the of property Admiral Consolidated Mining Co. near Leadpoint, Wash., according to a the company by report geologist. Paul L Jones, Spokane consultant directing the mining has reported that exploration, extensive geochemical anomalies revealed by soil formerly have recently been sampling 2,000 feet of by proved drill holes. percussion Mr. Jones said the exploration consisted program whether direct shipment of crude ore is feasible. mineralized Sixty highly drill of samples cuttings are the determine being assayed to APRIL 6. 1970 TERBA WEST fo C0RP0RATI0R f OFFERING PRICE: $0.10 PER SHARE Copies of the Offering Circular may be obtained from the undersigned only in states where the undesigned may legally offer these securities in compliance with the securities laws thereof. BONNEVILLE SECURITIES, INC. Brokers , Underwriters , A Mining Companies 601 Kearns Bldg. Salt Lake City, Utah (801) 322 We - 3515 SEVER CMUS STRCKS Understand Your Noeds it RANGE 4c TO SM PER SHARK W Printing & Mailing Jones said. The mine formerly a prominent producer of exceptionally rich ore, Mr. Jones said. 2,850,000 SHARES (Common Stock $0.01 Par Value) near-surfac- e, i in silver, gold md uranium stock, and seloltive stock. ' Wa accapt collact calls on buy orders. tpciil!i panny mining J. H. facilities for W. 411 Sprogna. Shareholder Reports DILLON Ipokw. Wosk. & CO. ffftl, Id. R3S-44- 3 Member Spokane Stock Exchange Prospectuses Financial Statements Stock Certificates Buy1, Weston Sell Orders, Etc. and Company, 'Ll tie. SOUTH or Salt Lake City 2000 Univ. Club Bldg. 136 E. South Temple Phone: 364-197- 1 2700 WEST 298-37- 03 International Hotel Phone: By Chuck Hayward of Equity Oil Co. who attended a meeting soiree at the Alta Club in Salt Lake City last week had a distinct treat as Dr. Hank Coffer, vice president of CER Geonuclear, gave an interesting and entertaining explanation of the procedure which CER and Equity hope to use on Equitys Piceance Basin, Colo, gas holdings. Dr. Coffer showed a film on the Project Rulison to stimulate gas flow in strata near Rifle, and Colo., pointed out the total safety from dangerous radiation in both the nuclear shot and any eventual use of the hot gas. The scare publicity of the groups opposing the reopening of the Rulison hole notwithstanding, the danger involved in exposure to the Rulison blast site at this late date is less than in a chest by several times, Dr. Coffer said. Elsewhere in the OMJ is an article on the shareholder meeting itself and some of the other comments by Dr. Coffer. Shareholders post-sharehold- er N-bla- st low-permea- x-r- ay Secretary of the Treasury David M. Kennedy visited Logan, Utah, last week and told the Utah Bankers Assn. Intermountain Banking Seminar that the nation is doing a pretty good job of walking a tightrope between recession and inflation. The weight of evidence suggests the economy is on the course that economic policy has sought neither falling off too sharply nor giving signs of resuming too inflationary a path, he said. The former president of Continental Bank of Illinois said the administration is looking beyond short-rang-e issues, without ignoring them. We must make every effort to insure that a reasonable stability-in-crisi- s is promptly restored. And, once restored, reasonable price stability must be pursued with unrelenting vigor. That is the best way in which we can insure the future strength of the dollar at home and abroad. A group of students staged a quiet demonstration at the door of the Fine Arts Center on the campus of Utah State University where Secy. Kennedy spoke. With fingers uplifted in the peace sign, they carried posters reading Rich Mans War, Poor Mans Fight, Die Now, Pay Later, Millions for Defense, Pennies for the People and War is Good Business, Invest Your Son. Secy. Kennedy, saying he has had cordial dialogue with the young, recommended that youth become mentally and physically equipped and to work within the framework of existing institutions. Asked about last weeks sharp drop in the stock market, Mr. Kennedy said the economy is continuing to adjust as downward, but he noted that todays stock market is stock to the market in of 1929 which the one opposed stocks are backed by real value. He added that large amounts of funds are now marking time in the hands of pension trustees waiting for a propitiuus moment to the market. These funds currently are in short-termoney instruments, he said. re-ent- er m Were about as confused about the activities of the stock market as almost everybody else, and Secy. Kennedys words were most reassuring. Also of considerable comfort to us was the fact our horoscope brought a personal assurance of an improvement in our financial affairs, and the further fact that Secy. Kennedy is from Randolph, RICH County, Utah. Bring on the crash! INVEST WITH OUR MARKET SPECIALISTS OVER-THE-COUNT- ER Las Vegas 487-07- 68 Inc. INVESTMENT SECURITIES Members Salt Lake Stock Exchange PRINTING & LITHO 3479 Mr. was 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. geochemical and geophysical work, soil sampling, mapping, surveying, road building and extensive drilling. He said that a bulk sample of high grade sulfide ore is currently undergoing laboratory testing to determine I extent of commercial value, NEW ISSUE flew Diamond Flying responsibility for the jointly owned producing properties as well as for the development activities on the remaining jointly owned and operated undeveloped properties in the Bluebell Field. Flying 1 384-299- 5 Provo 163 N.Jniv. Ave. Phone: 374-825- 7 Monthly Recommendations for Government . , "Lease Drawings" GEOLOGY Alaska Colorado INVESTMENTS WILLIAM E. SWANSON P.O. Box 6384 Denver, Colo. 80206 Montana New Mexico Utah Wyoming EVALUATIONS CONSULTANT Phone (303) 722-513- 6 |