El Paso herald. (El Paso, Tex.) 1901-1931, 1920-04-22
Great Mew Oil Field Looms
On Pacific Coast OfMexico

A NEW oil field is looming in Mex
n leo on the Pacific coast and OF
the shores Of the Gulf Of Lower
California, according TO official pub
legations received in FL Paso from
Mexico City. Permission has fust
been granted By the Mexican govern
ment to Fernando Macias, a wealthy
Mexican oil well driller to exploit
the new field where recently a show
ing or OIL was made. which is said
20 have astonished pr0spectors. The
prediction Is made that the new field
viii IN time rival the Tampico fields
Permission has also been granted
to Norberto Rochln and Ricardo Car
rascOsa TO explore for petroleum in
the departments Of PalenQue and
Mezcalapa in the state OF Chiapas
II is IN the former department that
the famous prehistoric ruins are
located and the indications there are
good
To Invest Fifty Millions.
Il IS announced that the Aguila
Petroleum company intends invest
ing s50,O00.0o0 additional in develop
ment Of its oil properties in Mexico,
II is also said that the Huasteca com
pany viii increase its investment
largely.
Careful examination by expert
engineers diseloses the fact that the
recent earthquakes in the state OF
HEaENAA INLAAEEA no 4ALllAAE MIIAL=
ever to the oil wells and improve
ments Of the oil companies
Owing to the many reports in cir
culation regarding the alleged advent
Of japanese in the petroleum field
the Mexican secretary OF commerce
and Industry has announced In the
most positive manner that such
rumors are entirely without founda-
ton As yet no japanese have ap-
piled for concessions or even permits
70 drill in the country, especially on
the west coast
A Mexican organization called La
COrOnal Petroleum company has oeen
registered in the department Of petro-
1eum with the number 572-
Jose Picher has registered the
names OF those interested in a
petroleum enterprise under the num-
Der 573, that being the total NUM-
Der Of companies that are in legal
World Conference Planned.
A great world conference Of oil
company representatives Is TO be
held in Mexico City in the near
future. The purpose OF this confer
ence is TO take up with the Mexican
government the proposition OF de-
velopinE all fields in that country
where there are indications Of oil
Some Of the specific questions 70 be
discussed are
The. naturalization OF petro-
1eum deposits in Mexico.
2-Ths greatest impulse 20 be
given 10 the exploitation OF petro-
5ZImprovement Of the methods Of
5-Harmonization OF the interests
Of foreign and native investors in
order to secure the greatest economy
III T-,-,.t 5-ts-,ra+s+fon ~ the ne
troIeum legislation Of Mexico in
order 70 promote the greatest de-
velopment Of the Industry without
detriment to the interests Of the na-
ton. OF the private parties interested
OF the manufacturer
6-Facilitieg for exploitation
Markets for combustibles-
General questions affecting the
petroleum industry.
Companies Lose Charters.
Failure 20 understand and comply
with Mexican oil laws has Just re-
suited IN the cancellation Of the
charters OF IS Of the largest oil COM
panies doing business IN Mexico. The
companies ousted by the government
are as follows; C0mpanla Mexicana
de Petrolea Mexico y Espana"i Com
Pauuco"; ia Nacional," Compania
MeLicaua de Petroleo"s Compania
Petrolifera, san Francisco; Com
pania de Petroleo ''El Alamo de
Panuco". Southern company Com
pania Petrolifera La Transatlan-
tea: Compania Petr0lera "Lluvia de
Oro"; Compania Petrolera El
Esfuerzo Nacional'. Compania Petro-
lera Nautilus; Compania Petrolera