The Fallon standard. (Fallon, Nev.) 1920-1958, 1920-10-14
Declares FaIlon Oil
Strike is "Real
Thing"
Secretary of Tonopah Exchange
After Personal Investigation
Endorses This Field

Nevada Oil Stock exchange of Tono-
pah. visited the Fallon oil field one
day this week and reports that the
recent oil strike there, made by the
Fallon Oil & Gas company in Its
test well. is the real thing. The oil
was encountered in the Fallon Oil
& Gas compeny's test well at a
depth of 1925 feet. The oil Is a
paraffin base and tests 29 gravity.
Between Is and 20 barrels of the
oil were bailed out of the hole and
carried away as samples and sent to
interested parties all over the coun-
try. The Fallon Oil & Gas company
is the pioneer company of the state
and its promoters and managers are
naturally very much elated in being
the first to prove that Nevada is an
oil state. This company was for the
most part financed by Nevada peo-
pie who had faith in the field and
that faith has now been rewarded.
According to Mr.. Woods very little
1
of the companys stock can be pick
ed up in or around Fallon for less
than one dollar a share.
Those who know the facts" said
Mr.. Woods, will not sell their
stock for less than one dollar a
share and it is my belief that it will
go to several dollars share when
it is called ON the San Francisco
| Oil Exchange"
I'm my judgment" continued
Mr.. Woods, when the company's
holdings have been fully developed
this stock will be dirt cheap at $40
share as a dividend paying invest
ment."
Much praise has been accorded
the management of the Fallon Oil
& Gas Company for its practical and
careful manner of protecting the
field by cementing the we'll and
thus shutting off the water. The
progressive MANAGEMENT of this
company is shown by their immedi-
ate spudding in Of weli No. 2. They
are starting this second we'll with a
l6-inch diameter hole and will hold
to this size as deep as possible and
expect to finish with a IL " Inch
hole. This will enable them to de-
yelop their second hole into a COM
mercial we'll.
The various formations now being
known. the management expects to
complete well No. inside of 80
days
"Fallon is a busy place these
days" said Mr.. Woods. '"The town
is fairly alive with oil men coming
from every part of the country, and
all heavy investors in the stocks of
the various companies now. drilling
in this field 1t is practically i'm
possible to secure a room and the
Southern Pacific has put on motor
car between Reno and Fallon to ac-
commodate those who are forced to
go to Reno for hotel accommoda-
tons
1t is thought this will hurry the
| financing and building of the new
Wingfield hotel and which is now
one of the crying needs of the city.
Mr.. Woods says Fallon people are
ready to bet and give long odds that
Fallon will be the largest city in the
state in less than six months.
w. H. Gier, who some months ago
visited this field and made favor
able geological report upon it, was
in Fallon Tuesday. Mr.. Gier states
that a test of the oil from the Fallon
Oil & Gas companys well was made
in Los Angeles and that Ii tested
around 80 gravity. AS most of the
California oil only tests around 19,
it will be seen that this is very
high grade product.
Other Fallon companies, some of
which were holding back awaiting
developments by the pioneer COM
pany. are now getting busy and 60
ing after the liquid gold with all the
speed they can muster. The Big
Four company is now working three
shifts and is down nearly 500 feet.
The Lahontan Oil Syndicate has its
big rig installed and will start drill
ing at once. The Consolidated Oil
and Potash company spudded in this
week.
The Fallon Pioneer company is
still fishing for the lost tools, but
expects to recover same In few
days.
New companies are being organ
ized daily and the country for miles
in every direction Is covered with
leases on the patented ground and
by United States permits on the
government land. All the older
companies are now fully financed
and many of them have taken their
stock off the market.-Tonopah
Miner.