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Show Four Companies Bid On Indian Land Oil, Gas Rights Whether Carter and Stanolind will receive the rights to drill for gas and oil on 1500 acres of Ute Indian lands remains a question. First reports had it that these two companies were the high bidders for the oil rights in Indian In-dian lands offered for bid. The only thing that is known is that $123,000 was the total bid, all of which was offered by Stanolind. Carter, Texas and Pacific Pa-cific Western. The complete picture of the important im-portant transaction may be withheld with-held pending a full tabulation of the figures involved in the rather complicated bid. We do know, however, that Standard of California Cali-fornia offered $21.11 per acre on two units, but what those two units are and what a unit comprises com-prises is still a head scratching proposition. Rumor has it, but you can't depend too much on rumor, that certain individuals believe a well will be drilled somewhere, someplace some-place and at sometime on the Indian lands. And here's some more of the confusing situation: four big companies com-panies offered 8125,000 for the oil rights on the total acreage double that of which was bid in by Carter and Stanolind last summer. sum-mer. , Carter and Stanolind were the high bidders on most of the units, the Texac Company was high on some of the other acreage and Pacific Western on some (whatever that means.) What Carter bid, what Texas bid what Stanolind bid and what Pacific Western bid is a matter of pure conjecture now. Only the Ute tribal council or the Agency Ag-ency can clarify the confused situation. ' ' Compilation and release of lull information has been promised for next week's edition (the Editor Edi-tor doesn't make this promise). Whether the Indian lands under question will be leased or whether wheth-er there'll be more heavy discussion discus-sion and a final turn down is not yet known. Leasing of the ou and gas rights on the Ute Indian lands, and subsequent drilling will offer of-fer very definite benefits to members mem-bers of the tribe and the Basin. |