The Winslow mail., 1920-04-02
BIG ACTIVITY CENTERED At WINSLOW
FIVE THOUSAND ACRES LEASED FOR DRILLING. OTHER
LARGE DEALS CONSlNlIED-- some PENDING

activity the last two weeks. and it WA
in Winslow where two deals were fin
ally consumated. The parties at inter
est desired to avoid undue or unnatur
al publicity. ... s.u -.....a
The officers of the Winslow Oi
Company; has authorized the followin,
statement:
"T'he Winslow Oil Company owns tn,
oil and gas rights on 20 Sections O
School lands, the absolute cream O
the field. There has been differen
large companies dickering for some
time for certain holdings for drilling
contract.
"A few weeks ago, an Operating Con
tract and Lease was drawn up, but
the parties representing the leases
desire time, and the right to accept
the contract and lease, was finally ex-
tended until midnight, Thursday the
/ 25th. The Contract was closed and
money paid before midnight the .25th
completing the contract.
1t would not be fair to the leases
or their interested parties to give out
all details, at this time, but you can
state that the deal involved exactly
lease and contract is perpetual. pro-
lease and cintract. is perpetual. pro
/ viding the leases carry out their COW
enants and drill according to contract
1t is in fact simply an operating con
tract, and there must be action, drill
ing and development to hold the lease
without action it terminates July Isl
1 this year. ss.I
The money as actually paid, was
not an exorbitant amount, but is con-
sidered ample to express good faith
and it is believed more than any COM
pany would care to give, if they did
mot intend to drill and develop the
acreage The parties at interest are
financially able to carry out their COW
enants, as prescribed, and there is ne
doubt but what large and extensive
drilling campaign which will be big
boom for this field
The completion of contract invol-
ces holdings, in the so-called Hop
Township, and the Adamana Township
considered some Of the most select
acreage in the whole oil area.
The final negotiations were handled
by Managing Director Lyons and Sec
retary Harbin We have not been au-
thorized to name the parties inter-
asted with the leasee, but can safely
state, they are financially able to
handle the proposition as contracted
/ Charles Edward Major, geologist OF
Prescott. Arizona, was in Winslow as
headquarters for about a week; he
being accompanied by another geolo-
gist and a large financial man, who
represented one of the large oil oper-
ating companies. hese parties were
mainly interested in the holdings OF
the Aztec Petroleum Securities Co.
and adjacent property. We do know
that a good and sufficient deposit was
made, and further action, and con-
Summation of the entire deal was not
closed at noon Wednesday 31st. The
only delay being account the minol
details, and the exact acreage not ye
being compiled and agreed to. There
is no chance for this deal to fal
through, and it will involve large ac
reage, on drilling basis, but definite
details can not be given at this time
The fact that E. E. Vanderhoef, O.
Jerome has contracted to complete
the Adamana, that settles that point
and the Adamana will not need fur
the funds for Well No. /, as Mr.. Van
derhoef, will furnish all funds nee
essary.
The Holbrook Oil Company have ar
ranged to run two shifts. and we learl
further that this company is financed
and the stock is off the market.
The Black Canyon Oil Co., is making
good progress on the Western Sector
and Ben McCloskey is practically liv
ing at the camp.
All in all, it seems that the "tim
is nigh here" or in other words nov
or never. It must be this season, an
; from all information we have at hand
there will be something encouraging
within the next sixty to ninety days
ST. PAUL CHURCH
Easter services. 10 a. m. Sunda
School Festival and II a. IN. Commun
ion and sermon.