The herald and news. [volume] (Newberry S.C.) 1903-1937, 1918-03-12

Taken from the Oil and A1neras
Joarual, Billings, Montana, January
2S:
The Liberty Oil and Gas Companys
officials are jubliant over the report
from their we'll No. 2, at Elk Bas'a'
and well they need be. This coiii-
pany has 724 acres in the Elk Basia
oil fields and are drilling in close
proximity of producing wells in the
nationailknown oil field. The Elk
Basin for the year just ended pro
duced over s25,o00,OO0.
The Iiberty's Well No. 2 IS down 70
a depth of over 1000 feet Snd the III
dications of oil are sIrong. Judging
from the formation of the oil sands,
the company will not have to go over
four or FIVE hundred feet to strike the
first oil and when this IS encountered
the company will certainly be in the
game strong. The acreage that they
have guarantees putting down several
hundred wells on their own holdings
and secure producing wells for years,
fact that adjoining territory would
soon he "milked dry by companies
operating IN their vicinity.
The Liberty company, like all good
substantial companies, do not believe
in having their "eggs in one basket"
and have secured over $4,000 acres
of leases in territory that has oil in
dications, or in proven territory. They
have four Standard rigs at work il
four separate, fields and will start
other rigs, in the near future. They
hope 10 be able to put down forty
of fifty wells during 1918. When seen
at their new offices in the Northern
Hotel block this week, the manager,
Mr.. George C. Chrisman, said that he
was too old to go to the front, but
going to do his 'sbit" by furnishing
all the oil possible to help win the
war
The company has over 100000
worth Of equipment, all paid for and
four rigs running night and day. Some
near pro- lction and one which has
just "spudded in" and they should GER
tainly do their share towards help
ing to Increase the much needed crude
and refined oil that is so necessary
in carrying On the war to success
full close. So far the company has
only sold IL per cent OF its treasury
stock and so SO per cent is@ssill in
the treasury. This is a wonderful
record for any company and is due
in great measure to the careful
mana cement of the affairs Of. the
same. Unlike most companies there
are no large salaried officers to eat
into the cream of the treasury stock.
All money received goes to the devel-
opment of the company's holdings,
and that is why It Is possible for
them to make such a good showing.
To talk with Mr.. Chrisman for only
a few moments would convince any
and will make it winner from start
to finish. The fact that it has been
possible to raise over $4,000 up 10
December 1st. and only cost the COM
pany less than fifteen per cent means
something to the careful investor.
They are putting on a LARGE block
of stocks at Is cents per share for
quick results. March 1st the stock
will be advanced to 20 cents per share
and each month will see raise until
they have secured an amount large
enough to complete at least forty or
fifty wells. The stock will then be
taken off the market. AS Mr.. Chris
man says: eve have a good thing
and want to let the people in it at
this time. Had it not been for the fact
that the government needs the oil
SO badly we would not have attempt
ed to put down so many wells. but we
feel that we must do our share at
once, and at the same time make big
money for our stockholders while do
ing it. We are going to give the pub
Tic fair warning that they can get In
now-but not later-that is, after we
have secured enough funds to guaran-
tee the results desired"
Had the Liberty company only Just
their holdings at Elk Basin, it woul1
be safe investment. Their lines Ct
leases are less than 80 rods from pro
ducing wells and the formation Of
their holdings makes it a certainty
that they are bound to get producers
In a very few hundred feet where