The Canon City record with which is consolidated the Canon City cannon., 1920-09-30
Oil Fields Here
Attract Attention

A great many people interested In
the oil resources OF this part of Colo.
rado have visited Canon City during
the last two or three months for the
purpose Of investigating the oil fields
on -Four Nile creek. northeast OF the
city. Some OF them were oil experts
and looked the territory over with .
. view Of organizing companies for
its development: others came to make
an inspection as preliminary to pur-
chasing stock in come company al
ready formed Most Of them were IA
vorably impressed with the geology
Of the country and the promising out.
.ook for OIL. AS result lot of stock
In these enterprises. has bene sold
ard the mones derived from IL will
be used for the exploitation Of the oil
possibilities OF the district.
The Four Nile creek neighborhood
is the Oldest nown aiLprodueing re
g.on in the state. but IL spite II that
fact has never been given a thoro.l.t,
exhaustive try-out TO ascertain its Ca
psbilities- This Is likely to be done
within the next few months, and the
question definitely settled whether
oil exists there In paying quantities.
Many Of those who have made study
OF the situation there believe II does
Others are not so sanguine of the mat
ter. All familiar with the geology o.
the district agree that the Indications
for oil are encouraging. Beyond that
everything 10 necessarily. q subject for
speculation.
II will be of interest to the readers
Of The Record to learn that the Mu.
tual OIL and Development Company,
composed largely OF Pueblo and Colo
RADIO Springs stockholders. expects TO
begin .spudding in 'on its property
not later than November !. Its rig and
and surface equipment is now in posi-
ton and drilling operations will be
commenced as soon as certain neces.
sary preliminaries required by law
can be complied with. The derrick
was erected and cottages built about
Il for the use OF the workmen early
last spring. The last 80 days have
been very busy ones for the officers OF
the company. and they have advanced
the enterprise tremendously during
that time. although but little newspa-
per publicity has been given to their
e9crtA Large blocks Of the CAPITA
stock OF the company have been sold
n Pueblo and lesser amounts in Col.
orado Springs and this city. accordlna
TO Adam Greisemer. IT'S president and
GENERAL manager. who was here on
Thursday. He says everything con-
nected with the company is coming
along nicely and that it means bust.
ness. He declsre the company
would have everything in sue ha thor.
ough state OF readiness when drillinl
began as to enable 1t to push the
wosk with the utmost dispatch. he
computes that the oil-bearing stratums
whore the company's rig is located
are about 1890 to 2.70o feet below
the surface. The well. he asserts.
will be sunk to the oil-bearing sands
within 30 days after operations begin.
Mr.. Griesemer brought up a party
of Pueblo gentlemen ON Thursday 10
lock over the company's holdings.
They were so well pleased with their
inspection that they purchased a nice
block of stock. At noon today Mr..
Griesemer returned to Canon City
from Pueblo. bringing with him q
number of gentlemen from Alamosa,
who were attending the state fair.
They were taken ever the Four Mile
oil fields this afternoon.
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