The San Francisco call., 1910-07-30

OIL STOCKS

There was some activity in Palmer stock
Yesterday at the uniform price of $14o. Enos
was firm at S1-3212. Section % was higher at
$3.50 and Associated higher at S4J.l2h
Coalinga National. well No L in section
s20-l5 is now giving good. steady production,
estimated at about 400 barrels per day.
Silver Tip oil company, operating in section
621-l5. is about TO bring in well No. ,. 1t is
reported to be in the main sand
The W. X. oil company is making prepars-
tions to drill well No. s in section 2-20-15 with
rotary. which. it is expected will be in
stalled in about so days. No. 6 is about ready
for cementing.
The Choame oil company of Monterey county
has levied an assessment of 1c, delinquent Sep
John NJ. Wright. who organized the Peerless
GIL OIL. COMPANY ON OF Kern river which has paid
Fulton at MaricOpa and the Peerless at Coalinga,
is now in London. 1t is said that Mr.. Wrights
mission is to form large independent organiza-
tlon OF the three oil companies named above
with the aid of English capital Wright s
friends believe he will be successful in his
The Oil Age weekly learns from high
authority that the United States government has
for 100000 barrels of oil for delivery the
Atlantic seaboard This, it is said. will supply
the needs of the navy department for more
than year.
-Coalinga Homestake oil company. operating
In section 2620-l4. now has production of
about 80. .0OO barrels per month We'll No is
of being one of the best wells the property.
Small operators in sections 81 and 81, 1924
arc highly elated over the bringing in of an
5000 barrel well by the American oil fields com
pany in section 81
The August oil company is drilling for the
same big sand in which this latest gusher was
found, half mile west of the big American
well. The August people are also half mile
south of we'll drilled into this same sand by
the American people section 81.
The directors of the August and Manhattan oil
companies, which operating on adjoining
properties, are very much enthused over the
big sands which have been found by the Ameri-
can and now believe it is only matter OF
drilling to obtain the same prolific sand on their
property that the Standard found on section 30
and that the American people found
another big gusher the property of the
American oil fields company section 80 30 "a
In the Midway field. The big we'll is an 5000
barrel property of "A gravity oil
Owing to the fact that facilities were not at
hand for marketing the oil, the American com
pany did not want to bring in the big well at
this time, but the new gusher broke away from
them. The well was capped. however and is
not lowing at the present time according 10
other advices received. Not much oil was shot
out before the superintendent had it capped and
stopped. go
J. c. Yancey recently paid the record price of
vicinity The American oil fields company re-
Gently purchased property in sections 81 and IL
at reported price of $12J0000
In section 81 the company recently tanned an
OIL strata and stopped drilling after finding the
~ gravity oil for the reason that they were NOT
ready TO care for the big production. They have
now drilled into the same sand in section 32
adjoining, and it was the well in this sand that
broke loose, spouting y gravity OIL