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Show The National Enterprise , March 16, 1977 Page nine Salt Lake Firm Completes Wells Taco Time Franchises Opening as Pianned Bringing Field Total to Six SALT LAKE CITY, Ut.-Americ- an Resources Management Corporation, Salt Lake City based oil and gas, exploration, development and production company, announced the recent completion and testing of four natural gas wells in the Trail Canyon Field located 20 miles southeast of Rangely, in Rio Blanco County, Colo- rado. The company owns 75 interest in the wells. Richard L. Christensen, president and chief executive officer, said the four wells will deliver a combined two million cubic feet of gas Proven recoverable daily. reserves are projected at five billion cubic feet, according to tests conducted by Northwest Pipeline Corporation and reserve evaluations prepared by an independent This petroleum engineer. brings the number of company wells in the field to six, three of which are delivering natural gas and three of which are scheduled to be connected to gathering lines presently being constructed by Northwest Pipeline. Chirstensen indicated that during January, North- west Pipeline also completed contruction of a compressor station to reduce line pressure and increase deliver-abilit- y from existing and future wells in the Trail Canyon Field. American Resources also has a 37 working interest in ten wells producing natural gas from the OGDEN, Utah Barrel Springs Field. Carbon County, Wyoming, and eight producing wells from the Blair Mesa unit in the White River Dome Field, Rio Blanco County, Colorado, where the company working interests range from 21 to 75. Christensen said the company anticipates drilling 0 more wells on the three 15-2- properties during the remainder of 1977, subject to availability of drill rigs and governmental approval of the drill sites. LAKE SALT CITY $561,000 After three consecutive ing years. Transportation Safety Systems (OTC .25, 1.00) has cut operations in Arizona and West Germany in a move intended to bring the firm into profitable operation. The Salt Lake City specialty contracting company announced termination of its electrical contracting division in Phoenix, Ariz. and heater-planhighway in West Germany. operation These discontinued operations showed revenue of $506,000 and a combined loss of $331,000 in 1976, compared with sales of los- er and losses heater-plane- r operation because of heavy competition from a larger West German company. TSS in 1976 also reported a loss of $758,000 on sales of $14,773,000 compared with a $539,000 loss in of JUST PUBLISHED ... 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). H "INVESTING IN THE GREAT NORTHWEST is a new approach to Investment guidance, bringing together in 320 entertaining and readable pages Information indlspensible 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 P. PRATT la coImaM or NortMwil Uftorot bwooHRf wd o foooQntsod oxport on cofpornio vtf Mtton. No hoMa o doctors in Worn MOm URtoonltv Is s wiy wh swcot sv aw riwikiiwr MA mo unuoiMl book. A a ooonoNOE opmoacoMO no auar, Th. OREGONIAN. with Important mstortol for i mvosiorv, rwspi unr Tha auSiws aaa many laaaens mhf tt Northmgl (MtM eantfcM la ba a aaand ana graving ragiaa tor kiwafemm Raida. Thra' no raaaon la dlaagraa. Dan CaugNbt, SaaMa. $9.95 Hard Cover AnalyHa Oanlar al Portland Stala U. ass oo pnimir ORDER TODAY $&95 Soft Cover AVAILABLE AT MOST BOOK STORES OR ORDER FROM: Willamette Management Associates, Inc. 220 & W. Aider Street Portland, OR 97204 Ptoasa sand ma copits of INVESTING IN THE GREAT NORTHWEST:" hard covar mailing each. in soft covar mailing aach. Nama Addrsss In a naHonaWy oiiowi security sneiyfli ana auMalal imincm vritar and ana Dfeader at Raaaarali lac a NerSinaN Wadi ferafearaga fen lar a numfear af yaarm. Ha la a immbar al Sw Danaar SaeMy al SaewSy LAWRENCE R. ROSS la Anatyata ana haa had 30 yaara aapai-anala lha laaannaR bualnaaa a City IF $9j95 plua 50c $6-9- 5 State to Craig secretary Gordon Jacox. Favorable weather has been helpful in the construction of the prefabricated food stands since the company normally docs not open new outlets during the winter All months, Jacox said. stores arc fabricated at the firms modular construction site in Ogden, Utah. ing permission to Collett's Inc. (OTC .15, .30) to change its fiscal reporting period from Dec. 31 to April 31. Company officials say the move is intended to provide a more equitable reporting and inventory system. In addition to the change in fiscal reporting, Collett's has closed three of its Freight Outlet retail stores and reopened two of the stores as Colletts Furniture outlets. The closure and alteration of the two reopened stores required that Colletts sell much of the Freight Outlet inventory below normal profit margins, the company said. As a result, Colletts expects profits for 1976 to also be down. The company, however, is expecting to show an increase in sales for the year, regardless of the reporting period, but anticipates a reduction in profits compared to 1975 when the companys net income was a Colletts meager $23,000. now operates four retail furniture and appliance stores, two television rental outlets and one television repair store. Since furniture sales traditionally bottom out in April and May, Colletts has chosen April 31 as the most equitable month in which to close its year. Inventories will also be taken in April when stocks are presumed lower than at any other time of the year. For the first nine months of fiscal 1976, (assuming year end Dec. 31) Colletts reported sales of approximately $5.6 million, up one percent over the same three quarters of 1975 when the company had sales of $5.1 million. For the current h period, Colletts reported a net loss of $21,687 compared with net income of $43,055 for the same period one year ago. Part of the loss incurred for the first nine months of 1976 was attributed to the opening of a new south Salt Lake furniture store. A spokesman for the company said the new store was performing better than expected after the first quarter of 1976 and Colletts expects nine-mont- it to improve through 1977. Corporate Earnings INVESTING IN THE GREAT NORTHWEST. ABOUT THE AUTHORS. of has eliminated only its 1975 on revenues $14,311,000 The Securities and Exchange Commission has granted $189,000 in 1975. TSS vice president John Pingree said the Arizona operation, a division of Roberts and Anderson Construction Co., Provo, Utah, has been terminated, while TSS division in West Germany beginning of the current fiscal quarter (beginning January 1) and plans to open another 19 stores within the next few months. Craig closed out fiscal 1976 with 52 stores in eight western states, a 121 percent increase over the company's 28 operations in 1975. For 1977, Craig Foods, formerly Craig Taco Industries, Inc., plans to open approximately 55 new Taco Time fast food chains, another 39 Lemonade Stands and an additional 14 Taco Maker outlets, accord- Colletts Realigns Fiscal Year, Profits Expected to be Lower SALT LAKE CITY String of Losses Force TSS Closures Craig Food Industries, (OTC 2.75, 3.25) an Ogden, Utah based fast food chain operator, said it has opened 11 new Taco Time franchises since the plus 50c Zip NOT SATISFIED. RETURN BOOK WITHIN 30 OATS FOR A REFUND. steadily |