| OCR Text |
Show Indians Refuse; High Oil Bid The Ute Indian Tribal Council Wednday, definite, ly turned thumbs down on the recent bid of Carter and Stanolind for oil and mineral miner-al rights on 7,164.24 acres of Indian lands within the Uintah - Ouray reservation. The two companies, high bidders in the recent leasing leas-ing transaction, bid, a bonus of $4.08 per acre, totaling $61,000. The regular rental fee was set at $125 per acre, and is a sum apart from tho bonus. In rejecting the Corter-Stanolind Corter-Stanolind bid, the- Tribal Council indicated that it would hold out for a bonus of $13 an acre. Terms of the recently advertised ad-vertised oil and mineral right sale on Indian lands, stipulated that drilling operations oper-ations would have to be started within one year of the leasing of the rights. |
