| Show NEW OIL TEST BY UTAH COMPANY FOR UINTAH BASIN drilling Drill inar to be resumed by utah oil and refining company of salt lake on an ashley valley boint geologists b of the utah oil refining company announced friday of last week that the company will drill a new test on ashley valley structure ten miles southeast of vernal this new test Is to be drilled near the first ashley valley test which developed a flow of 35 cubic feet of gas two years ago and was shut down after the gas was put under control last year the rig and equipment of the gasser were removed to carbon county to drill a test on the price river it Is generally believed believed that the gas was encountered in the dakota sands since the closing of the well it has always been understood that the drilling operations ceased when the bit was only 60 feet above the top of the sundance sand a horizon from which no production had been obtained in utah or colorado until the gusher in the lies iles colo field was brought in recently in this sand among the oil fraternity the announcement no of the utah oil refining company that the new test in the ashley structure Is to be drilled is deemed to bg be tile the most important news emanating from that company this year rumors have been current ever since the sundance sand in 14 moffat county colo gave production that the utah oil refining company would complete the first test and that these rumors of further activity on the ashley valley valles structure were well founded Is ia brov en by the announce announcement meTt of the company made last friday that the rumors were live ones is further proven by unexpected activity in ashley valley oil stock on the salt lake exchange ten days ago shares sold at 2 cents per share and on the day the he announcement of the new test was made shares sold at ill the same price for many morill is the daily quotations of the stock ranged from three quarters on one half of a cent to one cent sometimes reaching ii and 1 cents the geologists of the company state that the ashley valley ure is the only place in utah where the same geological cond llon lion exists as on the lies iles structure the drilling of a test in utah to the sundance horizon has created a revival of the oil prospecting industry in the northeastern part of 0 the state and it production is obtained will effect favorably the oil industry in all parts of the tha state at the utah oil refining com banys gasses on the ashley valley structure regular quarterly tests of the gas flow have been made since the flow was capped and it has been stated that at the last test made the pressure of the gas showed an increase over the estimated flow of feet when the test was shut down when shut down the test was around 1700 teat feet deep |
