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Show The National Enterprise, April 14, 1976 page ten Correction Crest Resources Nab Leaseholdings on Overthrust Belt continued from page Two It could be a saying only, great play. But we just dont know yet. Production was encountered by Amoco in the Jurassic Nugget and according to the company, the Nugget sandstone is 827 feet thick. Their electric log analyses indicate the upper 497 feet will be productive. An initial test covered an interval from 7,450 feet to 7,476 feet and a second test covered the interval of 7,474 feet and 7,545 feet. Gas flowed during the two tests at rates of 5 million cubic feet per day and 5.8 million cubic feet per day. Projected depth of the well is now 14,500 feet and intermediate casing is set at 8,422 feet. The next closest discovery is 40 miles south in Pine View, Utah, where American Quasar hit oil last year. American Quasars was the first well in the Rockies to find production in the Overthrust. Amoco is the second. American Quasar spent more than $2.5 million on the discovery well. Based on test results and initial interpretation of seismic data, unofficial sources feel productive areal extent of the structure Amoco encountered could be as much as 8 - 10 miles long and about 2 miles wide. Crests Justice said most of the companys acquisition was made since Amocos discovery. He said Crest is looking for someone to joint venture in exploration on the property with them or a buyer for all or part of the leaseholding. The companys intention, he said, is to retain a substantial interest should they sell. Crest in early February sold one lease block to Mountain Earnings of LRC, Inc. were inadvertently reversed in the Corporate Earnings Report of the March 31 issue. Earnings for the 9 months: nded Jan. 31, 1976 should cad: Revenues. $718,950; Net Income, $123,092; Earnings per share, $.10; for the comparable nine month period of revenues net 137.673, 1975. Geocon Inc. 68 South Main Street 815 Salt Lake City, Utah 84101 totalled (801)531-694- income, ($189,296); and earnings per share ($.15). i i 7 -- i i i N FLAT I ON URVIVAL Fuel Supply Company of Salt Lake City, retaining an overriding royalty. , Situated where it is, Crests holdings are Geologic consultants offering a totally integrated consultation and property management service in all minerals, including uranium, coal, geothermal, and oil and gas. We also offer counseling to those interested in minerals property acquisition and sales. undoubt- edly subject of speculation by others. Justice declined, however, to confirm whether they were in negotiation with any other companies at this time. These are very delicate matters, he emphasized, and we dont want to mislead anyone one way or the other. The Overthrust Belt will no doubt be the scene of. extensive exploration over the next several years, he points out. Were not going to deal with the Overthrust overnight. 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