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Show t m "r Vol. 26; No. 39 Kiwi ' World Oil in llloAt The and iflining of Significance - r ' V-t- -1 ; V &&- - W T? V r v 4 - One Tear $3.00 Salt Lake CitY. Utak October 14. 1955 Now V " , ' . - 7 lOe Pei Copy rj to No. 3 7 A huge gas well producing cubic feet of gas per day was brought in by the Big Piney Oil Co., Oct. 8, in the company's oil and gas field, 10 miles west of the town of Big Piney, Wyo., it was announced by J. Tracy to insure our national defense Wootton, president, needs are entitled to be let in Wootton said It u considered a on the secret of what the AEC well m most fields. We went 6 has planned for us after the down 3,000 feet to sand that pro-I- t Spring of 1962, Kennedy said. duces oil on the flanks but up is high time that the AEC on top in .as 14 is strato' exchanged a few secrets with graphic trap. This gas well was the poor uranium miner. sufficiently down the flanks to He posed these questions: .How long are we going to be guarantee it to be a big well,' able to sustain our present pro- - Wootton declared. duction and discovery rate un--1 president Wootton said Big How der existing conditions? piney workmen are now moving long are present conditions go-- to drill another well five miles ing to last? When is the AEC south of the new well, going to change the rules of the Location of the discovery is in game? Section 3, township 29 north, 133 A firm statement by the west sixth principal meridian, Commission at this time would do The company is owned mostly by much to restore and bolster the residents. Utah of everyone con-- 1 confidence 10,-200,0- iV, - ': :.$ ., ' " - ' - , " - v ' ,v - ' ' ;'. M 'xfiV .V x. - ' J - f----r t' ' I r , , v. '.- - ?- xjuifii- wVtJc - AEC To Take .'. '; V ?:;7j ZZtmaAil jr-- : - !v ' ' ' ; a-, ' I " ? ' iii Miners Off Hook Unit ie U. S. Atomic ergy Commission will tell mestic uranium miners .what the future holds for them, all the venture capital that has made the raw material program of the AEC such a tremendous success is going to dry up, G. R. Kenspecial nedy, representative, n - Oil Industries, Inc., City, Okla., asserted the 1955 Convention of the American Mining Congress in Las Vegas this week. Kerr-McGe- e geologist predicts this veil on National Bank No. 1 will be shallow. It is located in the south Osage Field. Weston County. Wyo. MOBILE MOBILIZES Company Oil's Midland & Mobile Uranium Oklahoma current Mobile 'Spuds' Second Well The which the to buy all to expire Site In Montana Farm-ou- t of AEC, scheduled of 1962. BILLINGS, MONT. The recently organized Mobile Uranium & Oil Co., which drilled its first well in the Osage Field, Weston County, Wyoming the latter part of August, spudded Field, Toole in a second well last week in the County, Montana. The announcement was made here by Luther K. Wise, company Trans-Mounta- in president. The No. 1 Britton, as the new location is called, is on a farmout to Mobile from D. B. Bickerstaff. It is located approximately 21 miles north of Shelby, in the SESE Section 5 NW, Survey Denver Bureau Kevin-Sunbur- st Issues Stock For Finances T. 35 N., 2 W., Toole County. Wise quoted the company geologist's report as saying that the well would be shallow, probably not more than 1500 feet and that net reserves of the lease bolding were well in excess of $350,000. Mobile Uranium & Oil was in- corporated July 15 in Utah where the company holds 158 uranium claims on the rich Colorado Plateau near Moab. Drilling of the Midland National Bank No. 1 in the southern end of the Osage Field, Weston County, Wyo. was accomplished in late August. At present the well is pumping for two weeks on test, Wise said. He gave no production ore-beari- ng COLO. COLO. SPRINGS, n Common stock in Uranium Company, operators of Trans-Mountai- the Ray Benham mine in the Gateway area of Mesa County, was cleared for public issue today, according to Standley P. Balcomb, of Colorado Springs, president and general manager of the company. The company, which will act as its own underwriter, has been shipping ore from two seperate outcrops that lie on opposite sides of the properties The new financing will make possible extensive drilling to block out possible ore bodies believed to lie between the presently known outcrops, Balcomb said. Trans-Mountai- Endo- n purchase program Is empowered domestic ores, is in the Spring I 1 I I who are spending our energy and money to develop a cemed with the future of domesApprehension prevailed that strong uranium industry and tic uranium industry, he de- one of the pipes might be broken build up reserves large enough clared. as the gas came in, Wootton said. However, it did not make a spark and the period of possible danger passed without We Reserves Blue Lizard Hikes the to the ited com- further danger. day only Returning Thursday from the uranium properties of Blue Liz- pany cuts off their figures and C. W. Eveland, of Casper, Wyo., week. conare where he ard Mines, Inc., increasing every consulting petroleum engineer ducted an inspection survey, Gefor Big Piney, is authority for a statement that the new well is ologist Robert Coucher, of Geoprofessional Services, Inc., report- New Potash Location producing over 10,000,000 cubic ed to company officials that the Set in Southern Utah feet of gas per day. company has more than doubled The Oil Securities and Uranium Eight separate contractors are its ore reserves and now has $2,- has of Lake Salt City, working on the branch pipe line 375.000 worth of blocked out and Company, a potash now under construction from the location announced for inferred ore. test to extend known potash re-- main Une of the pacific s The report indicates the Blue in the Seven Mile Area, west Pipe Line in the Big Piney Lizard has developed an addition- Grand County, Utah. field. The branch is to connect al $1,777,000 worth of ore in 60 The first test will be located Wth the main pipe line near days. An initial report August 15 NW NW Sec. 5, Twp 23S, Rge. 20E, Kemmerer, Wyo., 40 miles away. showed only $1,200,000 worth of SLM. ore Earlier in 1955 Big Piney The firm stated that a second An official of Blue Lizard said test for potash would be located brought in a commercial gas well the company has shipped 1260 approximately one mile northwest which was at the top of the struc-o- f tons of ore in the last four weeks the above location. The Oil ture but not as large in size as valued at $35,000 and production Securities and Uranium Company the recent discovery well, has stepped up considerably. and the Morgan interests of Salt estimated Lake City own considerable pot- Geologist Coucher production has now reached ash leases aesuired from the U.S. Wabash-Hue- y 344.000 tons of ore from one government during 1954 and 1955. Oil Co., has drilled claim and there are 47 contiguous claims on the property. He approximately five tests for potColo. said known ore reserves are lim ash in the same area. I 1 North-reserve- . Delhi-Tayl- or Slate Drilling New President Named International Oil & Metals Notes Year's Progress . Appointment of Bernard Heffner, Spokane, as president, and Stanford R. Mahoney, Salt Lake City, as vice president and chief geologist of International Oils & Metals Corporation was announced today. Gordon C. Holt, former president of Uranium Chief, made the announcement. Holt became a director of International Oct. 1, at which time a merger was effected, absorbing Uranium Chief and Intermountain Uranium into International Oils & Metals. Holt said no definite decision has been reached as to Apache Uranium Corp. joining the merge-e- r group. He said it is still a possibility and has been discussed. Mahoney, new is president of Apache Uranium vice-preside- nt Corp. r International Oils & Metals is a new corporation organized a year ago. It owns extremely valuable properties in Canada, inmine cluding a near Calgary, Ontario, and an iron ore mine on the northern part of Vancouver Island, 10 per cent of which has mercury. Both are in the drilling stage. sands mines. for transportation to Japan. He said officials are faced with the problem of getting properties into production. One of the recent achieveHolt mentioned, was ments, construction of 26 miles of new railroad through virgin timber land in Canada. He pointed out the company also has a gold mine in Venezuela and gold mine properties in Idaho with about $50,000,000 of known gold blocked out. It Is not profitable to mine gold now. These properties consequently are temporarily idle. Holt predicted the silver' properties and iron properties of the company, should be in production by the Holt estimated the merged company has .$70,000,000 of ore and reserves in reserves in ore of $30,000,000 now iron ore being proved up. He, indicated nothing as yet has been contributed in uranium. The new company has not found it practical to go ahead with the limited amount of blocked out Other companies previously uranium ore available. included in the merger with InHolt said officials of International Oils and Metals are Silver Spring Uranium, which ternational Oils are working on a production figure for the Gismo merged last Spring and has to set an a property. They expect deposits; that reserve ore for property Gold Mines which has 1 next, he said. to January prior gold, mercury and tungsten; Holt disclosed that InternCanadian Iron Ore Mines, which owns iron mines, and Idaho In- ational Oils and Metals Corp., ternational Mining Co., which now has contracts to deliver Its owns tungsten and monzonite entire 1956 production of iron, middle of lead-silver-zi- nc silver-- lead-zinc Alabama-Califomi- lead-zinc-silv- er zinc-lea- d 1956. Wabash Uranium Corp. has closed a 50-5- 0 deal with a Durango, Colo, man on a shallow lease on the Northwest Pacific Gas line route northwest of Durango in the Fort Lewis mesa area. Wabash, a new issue of Atlas Uranium Corp., and Walter L Jluey, Durango, will start drilling operations in the near future, Marlowe Smith, Wabash president said today. Iluey, a director of Wabash, will direct the drilling program. Huey's No. 2 well near Durango, brought in more than 40 million cubic feet of gas a day last April. It is now furnishing all of Durangos gas. J. C. Burgess is president of Atlas. Additional reports on the operations will be carried by the Survey. Wabash-nue- y i. o |