Mrs. C. J. Peterson
R.F. D. #12 Box 17
Mrs F. H. White
Malad
Enterprise Oct 8—1925
Impressed; Oil.
Indications Point to Field Of
Large Producing Results.
Recently Mr
D.L. Evans of this City, drove over to the Gem State Company’s location at
Arbon with Mr. Luther Foss, a man of considerable note as an Oil field expert.
Mr Foss was most favorable impressed with the field, and said that the
structure of the country certainly looked very encouraging, and every
indication pointed to oil. The Arbon
Valley
The hole is
now down 1930 feet, and at last reports the drillers had been successful in
shutting off the water with the drill point resting upon the cap rock. It is
expeckted to reach oil within sixty days. Recently the have been working on the
water and now have an eigth inch casing down to the point where the water was
shut off. It is expeckted that they have resumed drilling again.
It is said
that to others Mr Foss expressed himself as intirly satisfied with the prospects
at Arbon, and volenteered the information, we are told, that if the company had
any difficulty in financing the completion of the work, he stood ready to take
over their holdings and pay them for their holdings.
The
company, we are reliably informaed is absolutely free of in debtedness, as one
of the first rules laid down was to have cash in hand to pay for material and
labor before it was used. As a result the work has been delayed at times while
the officials were selling stock, In this manner they have protected their
stockholders to the extent that they have no creditors who can secure
possession of the well or equipment at any time. The work of putting down the
first hole has been most difficult The country was new, the times have been
such that capital was hard to secure, but at last they see a successful
conclusion of their hard year or so of work.
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