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Show The National Enterprise , October 13, 1976 Page two IJ 1(1 I American Quasar Well Completed COALVILLE, Utah Amer- ican Quasar Petroleum Co. (OTC 31.375, 31.875) has completed an oil discovery well in Summit County, Utah about 14 miles east of Coalville. The well was completed pumping 126 barrels of oil a ratio of day with a 593 cubic feet of gas a barrel. The well is producing from the Tw'in Creek limestone formagas-to-o- il tion through perforations be tween 10,704 and 11,385 feet. American Quasar shares under a joint venture with its 1975-- 1 Canadian-America- n and 1975-1- 1 limited partnerships, an 87.5 percent working interest in the well. After payout, the holding will beThe come 43.75 percent. company said the remaining working interests in the well are held by North Central Oil Corp. and Industrial Energy Corp. with 6.25 percent each. Harlyn Products Earnings Corrected Max D. Eliason , senior vice president of Skyline Oil Co. OTC 8.00. 8.75 has been president of the Rocky Mountain Oil and Gas term as Association. He will serve a second one-yere-elect- ed ar head of an organization representing more than 600 major and independent operators in eight Rocky Mountain states. William Moseley Jones has accepted an invitation to become a member of the Board of Directors of both First Lincoln Financial Corporation OTC 3.625, 4. 125 and its principal subsidiary. Lincoln Savings and Loan Association. Jones was the president and founder of Pacific Savings and Loan Association of California until it was sold in 1975. He is a past president of the California Savings and Loan League, is a past Executive Committee member of the United States Savings and Lona League, and has served as an active member of other key committees of both Earnings of Harlyn Products Inc. (OTC 5.25, 6.00) were incorrectly reported in the Oct. 6, 1976 issue. Income from continuing operations increased to $819,932 or 81 cents per share from $577,517 or 57 cents per share. Sales for the year ended June 30, were $9,568,967 compared to $7,767,739 for fiscal 1975. leagues. Increased Sales Hike Beard Oil Earnings OKLAHOMA CITY, Oklahoma Beard Oil Company (OTC 4.375, 4.875) announced higher earnings and revenues for the fiscal year ended June 30, 1976. The company earned $62,895, or $.03 per share, for the 1976 fiscal year, compared to fiscal 1975 earnings of $11,504, or $.01 per share. Operating revenues for the year increased 29.7 to $5,01 1,352, compared to revenues of $3,864,492 in fiscal 1975. Herb Mee, Jr., president of the d Oklahoma independent oil com47 a increase in oil and gas pany, said that sales was chiefly responsible for the improved financial results for the fiscal year. The improved oil and gas sales resulted from increased production as well as higher prices. The companys net production of crude oil and condensate increased 10 for the 1976 fiscal year to 407,636 barrels. Net to 1,504,217 gas production was up 22 City-base- MCF. THE NATIONAL Reserves of both oil and gas increased for the second consecutive year, reflecting the effects of the Beards expanded exploraProved net tion program, Mee said. developed producing reserves as of June 30, 1976, were 1,840,479 barrels and equivalent barrels of oil and 9,083,585 MCF of gas, up from 1,723,183 equivalent barrels of oil and 7,905,033 MCF of gas at the end of fiscal 50 Cents Per Copy Subscriptions $24.00 per year Enterprise is published weekly by the Notional Enterprise Publishing Company, Inc., 500 Continental lank Bldg., P.0. Box 11778, Pioneer Station, Salt Lake City, Utah S4147. (801) 6 The Notional S33-0S5- Second Class Postage Paid r. Salt Lake City, Utah 1975. Mee pointed out that 1,082,509 MCF of such increased gas reserve was attributable to the companys interest in the Darrow A No. 1 discovery well in Oklahoma County, Oklahoma, which is presently shut-i- n awaiting a pipeline connection. Beard Oil holds interests in approximately 2,511,000 gross acres and 1,921,000 The company net acres in 21 states. produces in excess of 1 , 100 barrels of oil and 4,000,000 cubic feet of gas per day from producing wells in nine states. R. George Gregersen Publisher Alene E. Bentley Editor Ryan B. Poulton Business Manager Mary McMillan Gabor - Doan Alsup Staff Reporters Peter Harrison Operations Manager ra Get your grub stake and start out for the Gold Country. Stake a claim and dig for gold. Get lucky and make a strike! Start collecting your gold bricks . . . beat the others to the next spot and do it again. Be careful not to blow your money on worthless digging. 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