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Show SOUTHERN UTAH NOW KNOWN AS OIL COUNTRY . The discovery of oil nine miles j southwest of Moab at the Midwest- Utah Southern test on the Cane creek structure is regarded by leading oil men as the most important discovery in the United States during the year 1925, according to George T. Hansen, president of the Utah Southern Oil company, who returned yesterday to Salt Lake after a trip of four weeks, during the course of which he stopped stop-ped in New York, Washington, Chicago Chi-cago and other eastern points. "This opinion is held by such men , as J. H. Cline, chief geologist of the Derby Oil company; William J. Shelly, Shel-ly, president of the Skelly Oil company, com-pany, and W. A. Williams, president of the Crown Central Oil company," explained Mr. Hansen. "If ever Utah Ut-ah is to become regarded as an important im-portant field for oil exploration, that time has arrived. The sensational showing made by the Moab well on December S, has received wide publicity. pub-licity. Moab is known everywhere among oil men. The town and valley : have received millions of dollars worth of free publicity as a result of the Midwest- Utah Southern find." Mr. Hansen stated that important claims had been made for the development devel-opment of the holdings of the Utah Southern Oil company, which has the major share of acreage on all of the structures lying on the; Colorado river riv-er below Moab, in addition to its acreage ac-reage in the San Juan, the Elk Ridge and other fields, both in Utah and elsewhere. "A sum of $800,000 has been set a;ide in the treasury of the company for drilling work during the coming year, '"stated Mr. Hansen. "Next year the company will spend $2,000,000 in drilling and the following year a proportionately pro-portionately larger sum. We are fully financed and backed to go the whole distance by men who have unbounded unbound-ed faith in the southeastern Utah structures." Utah Southern stock is to be called among the unlisted division of the New York curb this week. Steps have been taken to list the: stock in the New York curb. This should be accomplished ac-complished in thirty days, the period that must elapse before a stock can bei listed and called. |