The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1921-10-21
SUPPORTS PLAN
To DRILL THREE
TESTS IN GRADY
n. c. rh~ss,,. Chairman of supserip.
tion Committee Says He'll eses
rt Enthusiasm win
$500 In Cash.
POINTS OUT VALUE
As BOOST TO TOWN
Opinion Is Nlehlos Proposition is
Good run for Money: Some
Support Given but More
Needed 10 Finish.

The proposal of ]. II. Nlchlos,
manager of the Iowa on and nefln'
ms company n dslil three test
wells near chickasha. II the people
Of chlckasha will post $500 for
each hole. payable whcn tho test
results In a commcrcial oil or ras
well or when Il = drilled to a depth
of 5000 feet. ~ meeting with ap
proval Of chlckasha people. accord.
ing to u. =. Thwcatt. chairman of
a committee selected to handle the
subscription end Of the enterprise.
while We find tia some " the
business men see the .aine OF TIE
proposition and are willing to help
Chickasha TO the extent to subscrib.
ing funds to the plan. there Is yet
much more support needed before
the matter IS a success" said Mr.
Thwcatt.
AS is generally known. Mr.. Mich.
los proposition Is to drill his pres.
ent test. east OF the city. one as
an offset 10 the Harness we'll and a
third In territory south and little
west Of the test on which he Is
now drilling" MIR. Thweatt continu-
ed. "Iie proposes that II Chickasha
business men will sopport tie propo.
sition by posting $500 on each hole.
or $22.50O for the three holes. he
will assign TO the subscribers $50
acres OF leases including an so acre
offset. around well No. and well
No. and will give the syndicate
one-third interest In the well which
Is to offset the Harness we'll and
n one.third undivided interest in all
leases secured around the Harness
well. this acreage not to be less
than 100 acres.
Not a dollar of the money Is to
be paid Mr. Nichlos until he drills
his first well to 5000 feet or get an
oil or gas well at lesser depth
None of the second or the third as.
slgnments of $1,000 are to be paid
him until he completes the second
and third wells. Therefore those
who subscribe are taking no chance
on paying in money and losing IL
without actual tests being drilled
to the prescribed depths. If he fails
to drill 5000 feet deep he doesn't
get any money
Grady county needs some 5000
foot tests. There's no question about
that. We have several tests drilled
to depths of $500 feet and none but
the Harness we'll have been produc
ers No well in Grady county haq
been drilled materially deeper thar
$500 feet. They may have stopped |
Just 500 feet too soon. Here's an op |
portunity to get three 1900 foot |
tests in three very likely looking 10
cations.
"The well on which Mr.. Nichlog
is now drilling, three and hal
miles east of the city on the Beau
camp farm, is down to it's interest
ing depth. ! understand that they
are down slightly below 1000 feet
The formations are looking excep-
tionally good Should he strike a
well there within the next 100 feet
the opportunity as offered by him
to participate in that test is gone.
We must have action now if at all
81 would like to see 20 men of
Chickasha make UP tie entire syndi-
cate. That would be slightly more
than $1,1O0 apiece. To show that
have faith in the proposition, l will |
personally take one tenth of the
entire issue, or little over $4,000. ,,
if we can get other men who will
take the balance. That's about as
strong as | can make it, by taking |
twice as much as would ask any
other man to take.
ut is the general opinion of oil
men that an offset to the Harness
well will prove good well. II a
man lost what he put into the
proposition by No. and No. wells
peing dry, it appears to be reason