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Show JUNE 1 1970 OIL & MINING JOURNAL 000 :,VQDl? Indian Agency collects over $900,000 for mineral leases on choice oil land DfflSOO Continued from Page 4 FT. Dear Mr Blackburn: read your column every can let me know something number of shares with that several times for information Thank you. Mrs Ida Berger I DUCHESNE, Uintah Utah County, ay The Indian Uintah-our- Agency here collected over $900,000 on a recent mineral lease auction for just over 20,000 acres of land. A total of $911,970 was collected in the bidding for leases on mineral rights, as oil company bonus bids went well over the $1.25 an acre annual rental fee and 16-2royalty on production. Successful bidders now have the right to explore for oil and gas in an area 12 miles west of the Bluebell Field and near the Fuel Supply Co. Mountain discovery well called Cedar Rim. You can be sure of drilling when they pay that kind of week. Perhaps one of your readers about Buckeye Uranium. 1 have a company and have written them and have not received an answer. Dear Mrs. Berger: Mr research files are also bare. Lets hope someone gives us the latest information. 10-ye- ar 3 THOUGHT FOR THE WEEK: Yard by yard, life is hard. Inch by Anon. inch, it's a cinch! IT'S YOUR M0NEY appears weekly in the Rocky Mountain Oil & Mining JouraaL If you have a question, write: Tliompson, Indian Agency realty specialist. Bids on the 45 tracts ranged from $6.02 an acre to $81 .68 an acre, and averaged $45.45 an acre. The success of the lease sale adds new impetus to the Uintah Basin oil boom which has been soaring since Shell Oil Co. drilled its Shell Oil Miles No. 1 wildcat which has reportedly produced a thousand barrels a day in tests. Cedar Rim has produced 250 barrels a day the past five months from about 8,000 feet in the Wasatch formation. Some oilmen say the Miles and Cedar Rim wells may indicate oil production possibilities in the entire area between the two wildcat wells and the Bluebell field. The leased acreage is some 1 2 miles south and west of the NOTICE to the shareholders of INDIAN URANIUM CORPORATION: Please take notice that the Annual Meeting of Shareholders of Big Indian Uranium Corporation will be held at 8:00 P.M., June 15, 1970, at the Doll House, 1 51 8 South Main, Salt Lake City, Utah. The transfer books of the Corporation will not be closed but only stockholders of record at the close of business on June 4, 1970, will be entitled to vote at the meeting. Shareholders desiring information are advised to visit our new offices at 918 Kearns Building, Salt Lake City. favors shale leasers Whether it is kerogen from oil shale a solid crude or 011 a an from liquid the end underground pod, is the the same; target production of refined oil, gasoline, distillates and other petroleum products. That is the essence of a finding by 3rd District Judge Frank D. Wilkins in enjoining the Utah State Land Board against issuing oil and gas leases or other kinds of petroleum leases on top of lands, already held under oil shale leases. The case was brought by the Morgan-Justheiinterest. SALT LAKE STOCK EXCHANGE $3.00 Per Copy Complete information concerning companies listed on the Salt Lake Stock Exchange capitalization, financial data, dividends, latest activity, transfer agent, annual meeting, officers, etc. Send check or money order to m The Morgan-Justhei- group had in 1967 successfully pressed a case m ARIES March 21 thru April 20 Personal money problems could have you in a quandary. Approach these adverse conditions with caution. TAURUS April 21 thru May 20s, The market offers a on top of asphaltic sands bituminous sands leases on similar grounds. That action was later upheld by the Utah Supreme Court. Morgan-Justheihas held that single leasing will eliminate PUBLIC RELATIONS Salt Lake City, Utah 84110 308; Ness Building m 3 confusion development copies of the DIGEST (2 $3.00 to: and of hydrocarbon treasures. Name Address State - profitable hasten Utahs The Land Board has held that no one is yet developing or recovering oil from the shales. Hence, it makes good economic sense to go ahead and get whatever income can be gained from oil and gas leases and royalties, pending the evolution i : of an oil shale technology opportunity now. Watch your balance during the full moon of June Personal money problems could have you in a quandary. Approach GEMINI May 21 thru June 20 Dont fust stand around and talk about it, get some financial backing and use your horse sense. Corp. also leased a tract for $9,610. The extent of drilling 639-acr- e in the area remains to be seen. Recent before state regulatory agencies indicates the cost to drill and average complete a well in the Bluebell Field is about $450,000. Income from the land leases will go to tribal funds, and this comprises the bulk of tribal testimony revenue. By Merle Cox LIBRA Sept. 23 thru Oct. 22 All signals are go. The LEO . July 23 thru August 22 This is a somewhat negative time for business deals, interviews and other Let personal contact. someone else do your talking VIRGO August 23 thru Sept. 22 Became of vocational problems you may suffer a relatively large financial loss. Dont strike, negotiate. are opportunities just waiting to be sorted by your keen discerning mind. SCORPIO 23 thru Nov. 22 Oct. Crossed wires and red tape can slow your dealings to a snails, pace. Enjoy a breather, things will soon begin to transpire. SAGITTARIUS Nov. 23 thru Dec. 21 It not advisable to borrow or lend money in is this Personal expenditures should be carefully examined. period. CAPRICORN Dec. CANCER June 21 thru July 22 have Things greatly improved for you in this period. Be patient and the changp will come in a surprising upward thrust. in preventing issuance of oil and gas leases CHRIS S AAETOS City tract Diamond e For the week of May 31st through June 6th Court ruling OF STOCKS LISTED ON THE Please mail 624-acr- $31,286. Shamrock highly enough of the Mountain JUST PUBLISHED! 363-220- for FINANCIAL FORECAST Miles Well, but Shell thought Order of the Board of Directors Milton S. Rindskoff, President Telephone. Bidding jointly with Phillips Petroleum Co., Mountain Fuel Supply Co. obtained mineral rights on six tracts of land 3,500 acres. approximating Total cost was $208,414. Other successful bidders included American Minerals Management and Friar Oil, who bid jointly on one -- KO. Box 4275, La Vega, Nev. 89108 By Fuel discovery to bid $641,970 for 31 tracts of tribal land totaling 14,976 acres, and $20,689 for 303 acres of privately owned land. Francis said money, Richard Blackburn, Lai Vagas SUN BIG PAGE 5 22 thru Jan. 19 Your timing and ability to communicate with the public and your business associates is below par. Speak softly and carry large shares. AQUARIUS Jan. 20 thru Feb. 18 Negative emphasis is focused on all forms of speculative Home-base- d enterprise. finances are likely trouble. PISCES Feb. 1 9 thru March 20 Save the bulk of your Toot for investment in a later periixi. Your best hope is to stay loose and wait for the tide change. |