OCR Text |
Show Ratification Of Lease Flight Start Oil Drilling Word was received by this paper from Coleman H. Mulcahy independent oil operator of Salt Lake City, who in association with James M. Dunbar, Jr. un-. un-. dertook the leasing of the Duchesne Du-chesne Townsite over a year ago. Mr. Mulcahy is now conducting con-ducting business on the coast. According to his advices, it would be possible to make a deal for a deep-test well on the Townsite provided the property owners who have not yet ratified rati-fied the lease would do so immediately. im-mediately. "The situation," he writes, "is this: those who have not signed are only standing in the way of drilling development which would affect the community interest in-terest as well as their own. None of the nonsigners has sufficient suf-ficient acreage to justify a well. No legimate operator would even consider one on less than forty acres solid in veiw of the economic factors and offset complications involved. "A solid Townsite block, however, how-ever, would warrant a deep test and it is needless to add what benefits would accrue to all concerned con-cerned in the event commercial production should be encountered. encount-ered. It is altogether possible, with the cooperation of the few who are still holding out, that, after title work is completed, com-pleted, a well would be commenced com-menced this year. Continued waiting, however, might greatly prejudice these plans since one or more of the tests scheduled for the immediate Townsite area could be a dry hole." Mr. Mulcahy further states that if there is oil under the Duchesne Townsite, it is doing nobody any good where it is. The only way to find out is to get a well drilled. Every effort has been and is being made toward this end, but the choice is now up to the remaining landowners. If those who have not signed will see Edwin Car-, men of Duchesne and ratify the lease, early action is indicated. |