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Show The National Enterprise , January 19, 1977 Page nine Corporate Earnings Willard Pease Notes Completion SALT LAKE CITY The company also has announced initial deliveries of up to 4,500,000 cubic feet announced completion of the of natural gas per day at an No. Bar Creek test estimated average price of well near the Bar X Field $1.15 per thousand cubic feet located in the SE4, Sec. 19, to Northwest Pipeline CorGrand County, poration from six wells in the Utah. Cisco Grand Springs, The natural gas well was County, Field. The flow rate perforated from 2242-5- 2 feet is expected to increase when in the Brushy Basin formathe remaining wells in the tion and tested 9,525,000 area are connected to the cubic feet per day, with 220 system, and when additional pounds per square inch flow- facilities are installed by ing tubing pressure, and 900 Northwest Pipeline. A remote location, compounds per square inch shut-i- n Addibined with winter weather, tubing pressure. tional zones were tested at has slowed work on the Ven1,200,000 cubic feet per day Willard Pease 1976-4 and during drilling, but have not ture Ltd. project 5 wells in the Westwater been completed. Two additional 2700 feet test wells Unit in Grand County, the must be drilled by Willard company said. Pipe has Co. in Oil well to been set and Gas Pease the 4 earn approximately 75 per- with indications of natural cent net mineral interest in gas, although stimulation Bar Creek Unit will be needed to produce a the 4400-acr- e commercial flow rate. Work from the Anshutz Corpora5 well will await tion. Negotiations for the on the alsale of the natural gas the results of stimulation on with the Meanwhile, drillready have commenced an interstate pipeline coming is in progress on three pany with facilities in the additional wells under the Venture program. vicinity. Willard Pease Oil and Gas Co. (OTC 3.125, 3.375) has T-1- 7S R-26- E, A M-1- M-1- M-1- M-1- M-1- 4. Dividends Set SALT LAKE CITY Christensen, Inc., (OTC 16.875, 17.375) a Salt Lake City based diamond bit manufacturing company Going public is tough. Keeping jwr seat is even tougher. Going public can be a great opportunity for growth (stock can often facilitate acquisitions) . . . but it's not much consolation if youre left on the outside looking in. We can make your company public and keep you in control. No need to worry about months of delays, either. We move quickly and precisely. Talk to us before you give your company away to a board of directors. You built it; you should keep it. - (Djatlam (Smmiice (Corporation 747 E. South Temple Salt Lake City, Utah 84103 (801) 531-623- 6 Contact Richard L. Chatham, President Salt Lake City (801) 531-623- 6 serving the petroleum, mining and construction industries, declared a regular quarterly dividend of 10 cents per share payable on Feb. 3, 1977 to shareholders of record on Jan. 20, 1977. The company also clarified its position with respect to the pending merger with Norton Company. Frank L. Christensen, president, said Though we still hope to complete the necessary documentation and compliance requirements to finalize the merger within the first quarter of 1977, the company felt it should proceed with the cent dividend. In addition, the board of directors declared a special contingent dividend of 15 cents a share payable to shareholders of record on the date of the closing of the merger. This contingent dividend, when added to the regular quarterly dividend, would approximate the Christensen shareholders portion in the most recent regular quarterly dividend rate of the regular 10 Norton Company. Christensen and Norton formally announced agreement in principle in September of 1976 with approval of both boards of directors being announced on Dec. 21, 1976. Acquisition Finalized HUDSON, Mass. Entwistle Co. (OTC 6.25, 7.00) has finalized its agreement to purchase for cash a 70 percent interest in Systems Wire & Cable, Inc. of Phoenix, Az. from the AnaA group conda Company. comprising Entwistle and several management personnel of Systems Wire will buy the concern for an undisclosed sum. Senior vice president of Entwistle, T. E. Robinson said the company intends to operate the acquired firm in the same manner and with the same management team that has been in place since the company was formed. Entwistle, which had sales of over $32 million during its last fiscal year, manufactures several lines of recreational vehicles that are distributed from coast to coast and also a wide range of machinery systems for the insulated wire and cable, plastic processing and paper converting industries. Kings Table Recommends Stock Split EUGENE, Or. The board of directors of International Kings Table, Inc. (OTC 11.00, 11.50) has recommended that the outstanding common stock of the company be split 2 for 1. Wilbur Houmes, chairman of the board, said the proposed split will increase the number of shares outstanding to 1,085,448. A special share- meeting will be called to vote on the proposed split in late March. holders El Dorado to Acquire Manufacturer MINNEAPOLIS El Dorado International Inc. (OTC 3.75, 4.25) announced that it has agreed in principle to acquire Lambert Manu- facturing Co., a privately held company in Chillicothe, Mo. A final definitive agreement is being negotiated. No terms of the proposed acquisition, which is subject to various approvals, were disclosed. Lambert, a manufacturer of caps and gloves, has annual sales of about $9 El Dorado, is a recreational vehicle maker. million. |