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Show The National Enterprise , October 6 , 1976 Page three ttt The War is Over! DENVER After a week long battle to gain control of 45 percent of the stock of James J. Flood, a member of the board of directors of Wein Air Alaska (OTC 4.00, 4.125) since 1975, has been elected president of the company. Raymond 1. Petersen remains chairman and chief Sabine Royalty, Hamilton Brothers Petroleum (OTC 17.50, 18.25) and its target executive. have reached an understanding for merger. Through its subsidiary, Hamilton Brothers Corp., the Denver based oil and gas Billings Energy Research Corporation (OTC 5.50, 6.00) has named Vaughn R. Anderson as director of hydrogen engine research. He will oversee all engine work including the development of conversion of hydrogen combustion engines. exploration and production firm offered to buy up to 1.5 million shares of Sabine at $60 each, reserving the right to purchase any or all shares tendered in excess of 1.5 million. Corporate secretary Also appointed to a new position by Billings is Kenneth B. Jensen. He will serve as coordinator of contracted research in preparing research proposals and acquiring research contracts with private industry and governmental agencies. ever, the two emerged from opposing corners to terminate all litigation and announce they had reached an understanding for merger. Hamilton Brothers withdrew the tender offer. The companies expect to enter into a letter of intent with respect to the merger within 15 davs and consum- mate the agreement within 90 days. Sabine will issue shares of common in exchange for the capital stock of Hamilton Brothers with the exchange ratio to be determined by directors of the two companies and their investment bankers. Sabine Royalty Corp., listed on the New York Stock Exchange, is an oil exploration company which has traditionally generated income through the purchase of royalties. Richard Coates of Hamilton said they had only recently moved into the exploration business. Richard Coates told the Enterprise a successful tender offer would bring Hamilton Brothers control of 45 percent of Sabine stock. Sabine has about 3.1 million shares out- JUST PUBLISHED INVESTING IN THE GREAT NORTHWEST It standing. Sabines board, however, ... FOR THE FIRST TIME. A NOW DEFINITIVE BOOK THAT ANALYZES EXCITING INVESTMENT OPPORTUNITIES IN THE DYNAMIC, RESOURCE-RICSEVEN STATE REGION OF THE PACIFIC NORTHWEST (INCLUDING ALASKA). spurned the offer, saying it was inadequate, not representative of the true worth of Sabine, and not in the best interests of Sabine stockholders. They urged their rejection of the offer and announced intentions to institute litigation against Hamilton seeking to enjoin the offer. Turning the tables, however, Sabine soon found themselves defendants in a suit brought by Hamilton charging violations of the Securities Act for disseminating information to the news media without first filing proper documents with the Securities and Ex- H ABOUT THE AUTHORS. INVESTING IN THE GREAT NORTHWEST" Is a new approach to Investment guidance, bringing together in 320 entertaining and readable pages information indispensible to any businessman interested in this region. Discusses over 200 public companies With over 2 billion shares of stock Over $30 billion annual sales Paying over $1 billion annual dividends and Interest HANNON A. PRATT to . EMorot "A moto unuaual book. A Noil with Important malarial tor t NortonwN Stock Gulda, i cyndlcud columnM on NorthtMct kivMIng and a racognizad ax part on aoiporata valuation. Ha holda a doetoraM In nanea from Indiana Unlvaratty, la a Clwtorad Financial Analyat and a CartNtod Financial Plannar, and y waa director of lha ImMinant Analyaia Cantor al Portland Stato U auar. The OREGONIAN. Tha author aaa many raaaona artiy tha Northwaal ahould eontlnua to ba a aound and growing lagton tor tovaalmanHunda-Thata'no toaaon to dtaagraa." Dan Coughlin, SaaMa. $9.95 Hard Cover ORDER TODAY $6.95 Soft Cover AVAILABLE AT MOST BOOK Hamilchange Commission. ton also charged that Ashley STORES OR ORDER FROM: WlllamGtts Mansgwnsnt Assoc Is tss, Inc. 220 S. W. Aid or Strsst Portl and, OR 97204 coplss ol Ptsass ssnd ms INVESTING IN THE GREAT NORTHWEST: hard covar mailing sach. in soft covar mailing aach. Nama Addrasa In LAWRENCE R. ROSS la a nattonaHy-know- n aacurSy anatyal and flnaneW aS nsmarm omI wee vseevr umSda ms niaaatea or GaMiafa Gas a vo NorvniSM im prasingi tor a nun bar of yaara. Ha la a member Dammr lha Soclaly ol Sacurtty Analyaia and haa had 20 yaarc aart-ano- a In Via Immatmanl bualnaaa. Roaa la author of lha booh, "knmallng k In Growth Cwnpantoa." riss noi d t i r $6-9- plus I 50 I plus 50c I Stats City IF $9.95 I Zip NOT SATISFIED, RETURN BOOK WITHIN 30 DAYS FOR A REFUND. I H. Priddy, Sabine chairman and president, unlawfully formed a group owning more than 5 percent of outstanding Sabine shares for the purpose of opposing the tender offer without filing proper notification with the SEC or the New The York Stock Exchange. suit sought damages against Priddy of up to $10 million. Early in the week, how- - The number of rotary drill rigs working in Utah during September doubled to 24 over last months 12 with the heaviest activity concentrated in the Pineview field near Coalville, the Greater Ancth vicinity south of Monticello, and in the Cisco area of Grand County. Of the 24 rigs active, 10 arc drilling wildcat (exploratory) wells scattered around the state. Based on reports of Petroleum Information Corporation, sixty wildcat wells are cither drilling, testing, waiting on equipment for completion work, or as scheduled locations selected for drill work. The most interesting of the test wells, according to Carlton Stowe, of the Utah Geological & Mineral Survey, are two being drilled in Rich County where very little previous American Quasar last week drilling has been done. announced it will drill a projected 12,500 foot well just southwest of Woodruff. The company is also drilling a planned 1 1 .000 foot well near Randolph and is currently at work on six wells in the Pineview field. Drilling activity in Duchesne County is presently centered some 10 to 15 miles southwest of the town of Duchesne, Stowe said. In Uintah County, work is being done 24 miles south of Vernal in the Chapita Wells Natural Buttes vicinity. In central Utah, wildcat drilling in scheduled in southeastern Juab County, Sanpete. Emery and Sevier counties. Currently active is a projected 20,000 foot well being drilled by Hanson Oil company in the Moroni area. An 18.000 foot test well is scheduled northwest of the town of Manti. Stowe added. Southeastern Utah's Grand and San Juan counties have 22 of the 60 wildcat wells listed. Exploratory drilling is centered in the Cisco Dome, Agate and Gravel Pile areas south of the Book Cliffs region, and in the LaSal Junction, Elk Ridge. Comb Ridge and Cedar Mesa vicinity southwest of Blanding. , T i i i i i i i i i b i V you Covered With over 1600 stock quotations, news articles, earnings reports, corporate profiles, market columns and feature stories, the National Enterprise covers the OTC securities market from coast to coast. behind closed doors of make it our business to know what's going on in the industry-fro- m We'll keep you posted on the corporate board rooms to changing securities laws and regulations. latest developments and abreast of current trends. We The National Enterprise gives your investments the kind of coverage they deserve. Please send me a one-yea- r subscription to the National Enterprise. Enclosed is $24.00. NAME. ADDRESS. I CITY. STATE. ZIP- - Mail to: THE NATIONAL ENTERPRISE P.O. BOX 11778 SALT LAKE CITY, UTAH 84147 i i i i i i i i i i i i i i Expansion Contract Goes to Raymond Intl Tex Ray- HOUSTON, mond International Inc. (OTC 13.25, 13.25) has been awarded a $6.3 million contract to install a sheet pile bulkhead and pipe pile for a port expansion project at Tin Can Island, Lagos, ' Nigera. The contract goes to the companys Delaware division. The bulkhead and pipe pile will form the foundation for 10 additional general cargo ship berths under construction for the Nigerian Port Authority, according to Raymond official. |
