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Show The National Page two Enterprise , August 4, 1976 New Products Subsidiary to Drill Gas Wells SALT LAKE CITY ucts, John B. Tenney, said of New Products Corp- that United Energy had comsidiary oration (OTC .35, .45) has mitted itself to 20 wells on the acquired . oil and natural gas property within the next leases covering five sections, twelve months. or 3,200 acres, in the Cisco Independent studies note Dome area of Utah. The that reserves are believed to owned wholly subsidiary, be between three-quarter- -. United Energy Corporation, billion and half will own and operate the tract. billion cubic feet well for per President of New Prod each of the 20 wells. A sub- The Cisco Dome field has n been a' energy for area producing many years and according to Tenney there well-know- was once one-and-o- a number of actively producing natural gas wells on land adjacent to the - companys holdings. Griffith, a vice president of the parent company A1 ne and chairman of United Energy, will head the oil arid gas operations. The executives noted that independent geological and engineering studies showed that the field was a shallow , one. with good possibilities of reaching natural gas at between 2,200 and 2,600 feet. This, they said, should place the company in the favorable bringing in" position of wells at moderate costs by permitting drilling and completion of each well within a ten-da- y Security Brokers, Dealers, Corporate Officials, Attorneys. period. Open flow potential of each completed well is ex- pected to be five million cubic feet a day, but Tenney -- believes daily production will be about one million cubic feet for such a well. Prices of natural gas in the area, the president said, range from $.675 cents to $1.00 per MCF. Although no distribution agreement has been entered into, a pipeline, passes through the property. Most of the wells to be drilled lie within one mile of the line and none further than two miles Present plans, Tenney said, call for the first well to be drilled by approximately Sep- tember!. The' company has already received approval for e spacing of wells, permitting four in each section. A turn-ke- y contract will be awarded to a professional drilling organization to work the property which is located between Green River, Utah, and Grand Junction, Colorado. 160-acr- The companys president also noted that New Products is in the stages of negotiating a limited partner-- . ship or joint venture agreement under which the project would be financed. New Products Corporation is primarily engaged in finding, funding and operating ventures in the mineral, energy and allied fields. At present, its holdings include coal, oil, gas, geothermal, uranium, silver and the development of a catalytic converter for gasoline engines. The United Energy subsidiary concentrates in energy-oriente- d areas. away. Third Quarter Earnings Higher for JBs Big Boy SALT LAKE A lielpiog Juristics Securities i ; ; haod Law Seminars help you avoid problems under securi- ties regulations. They're education on tape to protect you and your clients. - Complete, current, concise seminars covering the field of Securities Law, you learn at your leisure from experts. Listen and learn while you commute to the office, while you have lunch, in the evenings as you relax at home. 12 JBs Big Boy Inc. (OTC Restaurants, Family from $18,262,798 last year. Net income for the 40 weeks in 2.75, 3.25) announced record revenues and earnings for the third quarter of fiscal 1976. Earnings for the sixteen week period ending July 4, 1976 were $341,273, "Up 75 percent from $195,126 for the same period in fiscal 1975. Revenues for. the current period were $8,746,258, up over 17 percent from $7,449,829 last year. Earnings per share in- was $467,941, or 27 cents per share, up 39 percent from creased to 20 cents, up from 12 cents per share in fiscal 1975. Per share earnings for Cassette Seminars in handsome album with compendium the small investment of only $1 00.00. Any one of the 1 2 sessions could save you many times its modest cost. All for both .periods were based on 1,730,269 outstanding shares. Revenues for the first 40 weeks of fiscal 1976 reached $20,230,316, up 11 percent 1976 or $337,408, share for the 20 cents per same 40 weeks in fiscal 1975. The Board of Directors declared a 2 cents per share dividend, payable August 27, 1976, record, to stockholders of August 13, 1976. During this past quarter, one new restaurant was opened in Phoenix, Arizona. At the end of the quarter, the Company operated 60 restaurants in 14 states. Three additional locations in Utah and one in New Mexico are currently under construction and will be open this fall. JURISTICS Send for your Juristics Securities Law Seminars now. Juristics Inc. Subscriptions S24.00 per year 233 Parker, Suite 101 P.O.Box 11126 San Francisco, California 941 01 n " ' Second Class Posloge Pod m Sah Lake R. Cty, Utah Street Address. .State. Bankamericard Account Number , .Zip. Master Charge Expiration Date. . George Grugersen Publisher ; Alette E. Bentley Editor City ' SJl-OSS- ft ' Name. Signature Par Copy Tbs Notional Interpose it poblitkid weekly by tbs Notional Enterprise Publish- "k ,ld- - P 0- Pioneer Station, labs Gty. Utah 14147. (101) Please send me the Juristics 12 Cassette Seminar on Securities Law. My check for $100.00 is enclosed. Charge my 50 Cents Ryan B. Pouilon Business Manager Mary McMillan Gtber Dean Alsup Stall Reporters Peter Harrison Operations Manager R ones Soog miller Circulation Manager , . . |