Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-06-10
Information Regarding Reorganization
New Deal, SunburstIOl & Refining Co.
Properties Now Under Receivership

A large number OF questions are Delng asked ny
stockholders and creditors of Sunburst Oil Refining
company following my letter and plan OF reorgan-
izatiOn of May "a, and it is physically impossible
to answer all Of them individually Since many OF
the questions are duplicate, win answer the more
important ones in this column, believing that these
points can be cleared up for all Of the stockholders
and creditors at the same time
QUESTION: Why mot wind up sunbnrst
ownership for what they win bring and
divide money among the stOckhOlders2-Elzabeth
Murray, Harlem, Mont.
ANSWER: Read again Question No. 1: How
much is the Sunbrst Oil Refining Co. stock and credit
claims worth under Receiversp status, with the Re
cever without funds to pay off taxes and other prior
ity claims and operate the property?
Then read answer in Paragraph which says: "Of
no value For the reason that under such conditions
the property viii be sold to cover taxes and priority
claims and other obligations and it win not sell for
enough to pay such debts Accordingly, at sale Of
assets you would have not penny Of return on your
IS shares of stock Under reorganization however you
have opportunity to recoup on this adventure
QUESTION: Do a Of Stevenson companies
Jurisdiction receivershp?-F. @. Sheeran,
Columbia Falls, Mont
ANSWER: No These companies were cOnsOI-
dated into Sunbmst Oil g Refining CO., Some Of the
stockholders did not transfer their stock but owing to
cOmingng and interminglng Of assets the court was
asked in my petition to allow all stockholders and
creditors Of all merged companies to participate even
if those stockholders who did not exchange their stock
hold no right to make any objections to the plan
QUESTION C2) VIII Stevenson companies hold
trolO percent OF the OrganizatiOn?-F c. s.
ANSWER: No. No group Of companies or mem
beers will be able to hold 81 percent Of the new or
ganizaon This is clearly set forth in Paragraph OF
the Membership Certificate And also for the reason
that all Of these Stevenson companies except Stevenson
Consolidated and Sunburst Producing were consoh-
dated into sunburst Oh Refining Co and year
ago all assets belonging to Stevenson Consolidated and
Sunburst Producing sold under sheriffs sale and
the redemption period expired several months ago, on
the Stevenson Consolidated property.
QUESTION: How deep the wells you mention,
they renewed If the lease
period is about up?-F. C. s.
ANSWER One well located on Bears DEN is
1900 feet deep with a small showing Of oil and gas
although $500 feet is necessary complete this well
It is positively proven territory, validated lease
Well on Flat COuee has present depth about 800 feet
with lost bit in hole and this cannot be recovered
location will be made nearby close to discovery oil
well All title leases must be in good standing be-
fore any well be developed but no trouble is
ticipated ia clearing all titles
QUESTION: Is it necessary wait until after June
so to subscribe for NEUTRALITY-SUSPICIOUS. from number
parties
ANSWER: No it is not; in fact it was intended
that the majority would have their subscriptions Ia
before june go So that delay win occur in starting
development.
J. a. HAMILTON, Receiver
sunhurs& Oil q Refining Company