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Show AUGUST 24. 1970 OIL & MINING JOURNAL Texas crude oil production at highest level in 1 9 years, despite danger warnings Texas AUSTIN, Tex.-T- he Railroad Commission raised the states crude oil production to its highest point in 19 ceiling years, setting the September allowable at 79.9 percent of potential. The high factor was ordered despite a staff report 'that it could cause pollution, the wasting of gas and pipeline bottlenecks. But commission chairman Ben Ramsey said Work is being carried out to eliminate these shortcomings and to insure nonwasteful oil production to factors up to 100 percent. This will take time, Ramsey said, and require huge expenditures which must be evaluated in light of whether the current high demand will continue or whether it terminate shortly as the result of lowering of. tanker rates or other actions enabling resumption of increased imports of foreign oil. 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 6,000,000 Shares Common Stock $0.01 Par Value VEDCO-WAHW- AH MINES, INC. Offering Price: 5 Cents Per Share Copies of the offering circular may be obtained from the undersigned only in states where the undersigned may legally offer these securities in compliance with the securities laws thereof. . BONNEVILLE SECURITIES, INC. 601 Keanu Bldg. will Salt Lake City, Utah 011)322 - 3519 PAGE 3 chuckin' A spokesman for Humble Oil, John Yaeger, said stocks on hand in the western part of the country indicate there has been a Vapid decline in imported crude oil. Aztec Mining to purchase Sunshine asset Thomas J. Garrity, president of Aztec Mining Corp., has announced his company has been granted an option to purchase all of the Nevada of the Sunshine properties Co. for Mining $1,600,000. Sunshine granted to Aztec an irrevocable exclusive and exercisiable to purchase, option on or before November 30, 1970, all of its right, title and interest in and to the Sixteen to One, Nivloc and Liberty Mines and the Moose claims in return for 25,000 shares of Aztec common stock. P. Irwin and Garrity ;Underweiser, chairman of the board of Sunshine, made the in a announcement joint statement at Sunshine's New York headquarters. The Sixteen to One mine is presently subject to a 6 23 net profits interest owned by Aztec. The remaining interests in the are mine held 13 by .Mid Continent Mining Corp. and 23 by Sunshine Mining Co. o few By Chuck Hayward We received a letter recently from Mr. George H. Allen of Logan, Utah, who has what we believe to be a rather unique approach to oil drilling more specifically to eliminating the large element of risk involved in wildcat drilling. Mr. Allen had this to say: Dear Mr. Hayward: Just a note to say hellow, and to let you know that I enjoy raiding the Rocky Mountain Oil & Mining Journal.. For the past 30 years I have been active in Oil & Mining throughout the western U.S. and Canada. However, 1 have been devoting most of my time and efforts in the Oil& Gas Leasing & Exploration business. I hope to soon be introducing a New Concept in geophysical oil and gas exploration methods. .This new. method has been used and tested for more than eight years, and has been able to determine where not to drill a dry hole, in more than 50 of the tests that were drilled. Some six million dollars worth of drilling has been done in just one state to prove the accuracy of this new method. Any wildcatter, regardless of where he is going to drill, or how much money he intends to spend, should take a look at this. There are several methods of Geophysical Exploration for oil and gas now in use, but ihe records show that the national average of wildcat drillers is still about one producer in about 13 or 14 wells drilled. Not too good, is it...? 731 East South Temple Salt Lake City, Utah IS OFFERING PARTNERSHIPS IN a special. Schedule 0 drilling program in its oil and gas field in Wyoming the Overland Dome field. With four producing wells in this field which Classic Mining Corp. wildcatted and proved out, we feel the chance of successful petroleum yeld and potential capital growth are highly favorable in this program for both the company and the individual investor in the Schedule 0 program. Partners in our drilling program will enjoy such income tax advantages as: Federal tax deduction for intangible drilling and development costs. Tax exempt income of up to 22 of that earned from oil and gas production. IF YOU WOULD LIKE additional information on our drilling program, clip and send the coupon below. Our theory is to tell you where NOT to drill, and no one in the past eight years has found a commercial oil or gas well under an area that we made a survey on, and said there was no commercial oil or gas, and the tests that we recommended drilling found commercial production in almost 50 of the holes drilled. If you would like further information about this, please let me know. 1 am sure many wildcatters would be very interested in reading about something new and different, and the funny part about it is, it really works and gets results. Mr. Allen gave his address as 172 North 3rd West, Logan Utah 84321. Hi story somehow reminds us of the famous sculptors formuia for sculpting an elephant: "Just cut away everything that doesn't look like an elephant" Mr. Allen apparently feels he has a means of economically eliminating the uneconomical prospects. This announcement is neither an offer to sell nor a solici- tation of an offer to buy any of these securities. The offering is made only by the Offering Circular. New Issue: 6,000,000 Shares CLASSIC MINING CORP. 731 East South Temple Salt Lake City, Utah Please send prospectus on your participating drilling program to: Name QUANTEX CORP. Common Stock Price $.05 per Share Copies of the Offering Circular may be obtained front the Address City and State Mednick Brokerage Co. 201 Boston Bldg., Salt lake Citv, Utah 84111 Phone (801) 355-287- 5 |