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COALINGA OUTPUT SHOWS INCREASE THE PRESENT YEAR PROMISES HUGE RETURNS NEW COMPANIES WILL ENLARGE TERRITORY Lease Typical of Field. According to Estimate, Has Thirty.Seven Million Barrels of Oil In Sand Strata The present year promises to be the neatest in the history of Coallnga, *'„,,. 5 50 wells are now producing Zm,m barrels of oil a month. New we f aYe coming In almost dally the territory Is being enlarged, and com panies are organizing to exploit the " The' StaWct pawed out of the pros pertive stage and activity really began in 1888 when the Producers and Con sumers' Oil company started systematic work in section 20. Three years later the property was sold to the Coallnga Oil company, headed by Joe fhanslor, now president of the Associated Oil company, and C. A. vanned. They drilled a number of new holes, and af ter many trials and tribulations placed the company on a dividend basis, the amount paid to date being $1,« 00,000. From that time forth Coallnga has been to the front in the production of oil In Ca"t f°th n elapresent time that part of the field known as the west side Is attract ing a deal of attention. Many operat ors have been successful in this part, and therefore to pick one for a type la difficult, but Allen O Nichols of the Oil industry names the Premier Oil company as typical of the field. Premier Makes Good "Perhaps," writes Mr. Nichols, there is no more typical company than the Premier Oil company. While a com paratively new company, only organ ized a little over two years ago, it has already made good. The geographical location of this company's land is al most in the center of the field; the depth of sand and thickness are about an average, so It will do admirably as an illustration of what can be done with a good piece of land properly handled and correctly selected. "The company was organized in Sep tember, 1907, by T. Spellacy, P. E. Spel lacy, C. J. Berry, J. D. Thompson and W M Wallace. Mr. Spellacy has been, and is still, the president of the com pany, while Mr. Wallace is secretary. The capitalization of the company is $1,000,000. The company purchased from the Union Oil company a one-sixth roy alty lease on 160 acres of section 24, 20-14 for which it paid $100,000, one-fifth of which was to be paid in oil. This has been paid. "The property is surrounded by such developed holdings as the Claremont on the north, the American Petroleum company on the east, the Kern Trad ing and Oil company, which is the oil department of the Southern Pacific, on the south, and the Traders and the Inca on the west and northwest. Every foot of the ground Is proven, and the history of the ten wells already drilled demonstrates that the formation is a blanket one. ■i "The first well was started on Oeto- '. \ Oil Is the One Best Investment ' ■■'" '- s ■ Put Your Money in Oil and You Are pl^Pr : >': ™ * t-^ ■ ■■ : ■: Bound to Reap Large Profits ' :B , ,'. ' ' On is the greatest money-maker in California. Oil is the greatest dividend producer and the |^V;' s> ' ''* ' %WBml *&!?* ■*1 JSP* ' ' •*'• 4:' -']&&&' - --^ *- r * ' ' *' great majority of Southern California investors have discovered this fact. The business in ' « : ■-';*: ">'%,'*-£ *' ' :\\, i j^T lv^- V - 'v^&F' • M •'• . ' . Oil Stocks transacted on the Los Angeles Stock Exchange last year conclusively proves this I',J > . - f.^W^^lp J* *» * ' <tfs7j. & > ' itS^-■' ' ''V*f| "?}•„''" ,, ,'j ' . fact. The total amount of the year's business on this exchange amounted to $6,340,025.03, and ..V „ " , • \S* '^' *^*t~sj* It ' *'$f *^--j^.< ";Miff *■ *■ <£% ' -j :■ ;^% "fjjj^ffii&^fi --"?;' ' i: out of this total $5,015,728, or nearly five-sixths of all the business transacted, was in oil t^'A^ £ ' ->h /t I . ''■' I J~*M™s?. < ■<' •-•* ,* J ' <^ Now then, Mr. Investor, since you know these facts, why not take advantage of them and %ff^V^%'fi,' >■ MM ' i^jß. v ■H\ *'? '' *-^ ■'^.^*Vf^ k*j ""^'^T'V" secure your share of the profits to be made in legitimate oil investments this coming year? fd^'J! I*' ! - <-* ftti> *-^iV. "^^^iV^? "*^l i;^^#;n£^'~>,V We have made thousands of dollars' for our clients in the past year and we are sure to dupli- Q*f*'X&?'' - ' - ' '•'l^^^^^l^^''^;^^^,..^^^ B^S4^-H*,^ W&iM Therefore, our advice to you is get in line, put your money in oil, and do so at once. S-v - J ', *-*~ : «P^.**- 'W^BlWat '-JB «l« WJJn ■|||^|!P|fH Ventura Oil Development Co. &v., ;-&m '.£mStt^ Ws%M&^i' fW? Nr> Pref*rrad Stork No Promotion Stock p»rtv •' i««t"r« who were ,ur«in of thr Ventura >■ f*nV *L . .J. .«• S », 1 •• «« OU Deyelopment Co., examining the rich oil .eepace*. *; $§S& Capital Stock $3,000,000 Par Value $ 1 .00 f ' -?^^^B FIRST BLOCK NOW ON SALE AT TEN CENTS PER SHARE •' "' "' '^^^M- '" *? The present holdings of the Ventura Oil Development Company consist of a 50-year lease on 640 acres of oil land' with an option to purchase outright. Royalty one-sixth Hold . :* ;, .. • .■: ings located at Pirtf, Centura county, California. There is easily room for from 250 to 300 wells. This tract is bounded on three sides by the Nodclla wells, which have been pro- Irf— -■■■ ■ "'MSmj*^^.'*,*.'*.*?*. T.:.,-^J ducing for many years. These wells prove the ground and make it almost positive certainty that this company will prove an immensely profitable one. Well So. I on the property el th* Vrutura Oil Development i. ». ; ,\ /~>l> A VITY CSV OIL. COST OF DEVELOPMENT <<- j The oil here is Qf high gravityf running from- 25 to 35 degrees, exceptionally adapted for refining purposes, and The cost of 'drilling wells is much less than in most oil fields, as it is not necessary to use the expensive heavy .; j therefore in heavy demand at a high price. The market is unlimited, . casing that is used in other parts of the state. ; Only a short distance away, in Torrey Canyon, the Union Oil Company secured its first wells, which Oil for fuel and water for all purposes is right at hand, oil from our immediate neighbors, water on the : formed the nucleus of what is now a company with one hundred millions of dollars in assets. • property. Water costs many companies thousands and thousands of dollars a year. „ '. ITDPIT TRIP OF INSPECTION ' The property is located within a few minutes' walk of the railroad and a mile of pipe will bring the oil to ■ I 1 Kite, I Ivlr V/r ir* ora,\* i iv» _ r , ■ , tank cars by gravity, thus eliminating the cost of pumping through the pipe line. . \ If 'you are skeptical let us take you to the property at bur own expense. ou don t have to buy a share ot The property is in the heart of one of the most prolific agricultural regions in the state and everything is ; gtO ck until' you have seen with your own eyes and are convinced that as an investment proposition the stocK cheap, here again lessening expenditures such as less favored localities are forced to make. Living is cheap. \ of the Ventura Oil Development Company is the best of the market today. Many people have already gone as ; our guests, and we should like to take you. Write us at once for further particulars regarding this free top. ♦ -\- a , a DEVELOPMENT TO DATE < AN ADVANCE IN PRICE IS CERTAIN The property is being developed very rapidly under the supervision of a very capable manager, Mr. W. D. ' " _ , . . • ■ n .. , v u<■ ~ ,11 vj™.^ Daniel, who personally looks after every detail of the work and spends his entire time on the property, which The stock of the Ventura Oil Development Company has been selling so rapidly that we have but a small block means success for the stockholders. We have just received a letter from him stating that well No. lis down 153 ! left to be sold at the present price of 10 cents per share. Therefore if you wish to secure a block of stock at feet and that work on this well is progressing nicely. He also states that he expects to spud in on well No. 2on ! ; that price, we earnestly advise you to act promptly, otherwise you will be forced to pay the advanced price. the 10th of this month. Mr. Daniel's letter follows herewith: $ - You can- buy the stock bpth for cash or on the installment plan. Our terms are 20% down and 20% per Lincoln Mortgage a Loan company, Los Angeles, cai. • ■, month on the installment plan, and a discount of 5/o is allowed for cash. , . / t tv Gentlemen: Everything at the property of tho Ventura Oil Development Company at Plru is progressing nicely. Well ]} j T . j „]_-. vo .. r orf l er at the oresent low price. Make a reservation at 10c pending your further No. Ila down 153 feet. The rain has Interfered with our hauling some, though everything necessary to complete this well, , ■ . i>c sure an s, P ldcc >uur urucl ,- ta ,_ vril . ran ,ff nr hut 11V ar nnre ' % except the casing, which we are now hauling, Is on the property. We will surely have a well here, and it promises to be investigation. Buy as much or as little as you call duorn, Dill Duy di once. ■ . .. . a. good one. : . n ] Call at our office tomorrow, if possible. See the maps, read the expert oil men s report and get full in- I expect to spud In at well No. 2 not later than Monday. January 10. Our location of No. 2ls about 200 feet west of , • v." aL ""*■* ' r • north and south line on southeast quarter of section, and 600 feet from well No. 3of the adjoining property. According to ■ formation. ,-I^l > .'i' ' -.i .j 1 . ,:■!! nfflnt i v the logs of our neighbor, we should get the oil sand at a depth or about 700 feet. ) If Y ou cannot call immediately, fill out and mail the coupon below without, delay, and you will prompuv Weather favorable, we will complete this well in a very short time. Tours ve^^naly^ DANIEL. . receive literature which will Supply you with full information. , ", . . f— ! i.NtoKMAT.o.v .o, i-o> 1 [We will also mail you the "Oil Book," which tells all about California oil stocks. How stocks earn 12% to 30% I u * cow mort« S K *Ti Io»n!?» PON W* " uxcom mobtoaue * wax .^iuin.. /*,,., ' dividends. How you can invest idle money to the best advantage. How you can invest on the monthly pay- o«-"s citu«.. National Baiiii Buiidinr. ix>» ab««i«, cai. BZt-tll Cltlrmg National Bank nulldinf, Jam Ancelfa, Cat. .;. _.. „ , „ . ... , , • . »„*!. '. Gentlemen rlralo ■ »uniilr me with full lnfonmatiftn a« Gentlemm—Plmm« «-nd me. without <-o»t br obligation on ment plan. he "Oil Book IS published twice every month. to how I ran take a free trip to the Ventura OH Devflop my part, map anil further Information rrganUnK the VKN- • ' i ment Company'! property. Tl-RA Oil. DKVELOPMKMT COMI'ANVi aim free copy of , • . . • v . . , _ . -.._ ' men! company p . th. -oil Book.- I*l m - a. /Ml .-^ fs 622-623 Citizens National Bank Bldg. Nam....;,. ..;................ >-:; r .::::::::::::::::::::::::::::::::::::::::::::: | Lincoln Mortgage ®> Loan Co. . l os An g ei.s,ci. ;, \ rr::::::::::::::::::::""-::::::::::"^' her 1, 11)07, and was finished. ■ belated Christmas present, on Pecember 26 of the same year. Since thut time the development has been pushed on rap idly as the finances of the young com pany would allow, until there are at present ten producing wells. No. 9 and 10 having be*n brought in on the same !,iy In December last. Two more wells are now being drilled, and work will be | continued until forty wells are finished, One lor BftOO four acres. The present rate of production, Including the two i new wells which are too new to be ' doing their best, is between 40,000 and , olKOflfl barrels a month. "It Is interesting to figure what this lease will produce when fully developed. I If ten wells produce r.0,000 barrels, it might be said that forty wells would produce 200,000 barrels, but this would be wrong, tt would be too small, even though it sounds large. Of these ten wells, seven are drilled along the west line of the property, where the sands are not so deep or so thick, so that the proportionate production of the wells along the east side as against those alone the west side will doubtless be nearly or quite two to one. _ I "Some other way must lie devised if j the possible, or even probable, pro,ln.'- | tion of this particular lease is to be figured out and the consequent earninsrs of the company are to be arrived at, as since it has a perpetual pumping privi lege as long- as oil is produced in com mercial quantities. It has a right to en tirely exhaust the sand, if possible. Oil In Sands Vary "Some years ago the California pro motion committee, under the direction of L. P Crane, Isued a circular snow ing tho amount of oil in sands of vary ing thickness and of varying satura tion of from 10 to 20 per cent. ■Tsing this table as a hnsK nnd figuring' on an average known depth of sand of 123 feet under tills property, wo have the stupendous total of 37, --296,000 barrels for the entire quarter section, figured on a saturation of 20 per cent. This may be a high esti mate of saturation, but it has been ex ceeded in the Los Angeles and Kern river fields, also at Splndletop and in Baku, Russia. Certainly not all the oil could be saved, but most of It could, and even if only half were saved and that half sold at CO cents net, the total: amount received would be $9,324,000. "Following along this same line, it j would take a well pumping fifty barrels a day. 300 days a year, 16.63 years to exhaust the oil In one acre of oil land. If this quarter section is drilled up as I intended, with forty wells, there will j be four acres instead of one to exhaust, j which should take four times as long, or practically sixty-three years." MIDWAY SIX ENTERS SAND AT 1400 FEET lIAKERSFIELD, Jan. 12.—The Midway Six, operating on twenty acres of land leased from W. C. Hall and of which Colon 'Whittier la the manager, and which is located In close proximity to the Santa Fe'a big well, has gone Into sand at a depth of 1400 feet. The oil and sand was thrown over the derrick by the terrific gas pressure, but after the first blowout no further effort was made to pene- trate the sand, the management preferring to wait until some storage Is provided. The wen. from Indications, promises to be a big pro ducer, rivaling that of the Santa Fe. The Santa Fe's well on the same section is Increasing In volume, the output for the past week being greater than at any former time. PRICES OF METALS IN NEW YORK MARKET ■* NEW YORK. Jan. It. —Copper, quirt ; <J> <•> standard spot to March, *i:t.s.">@l:f..">.">. ■• ... Lead, «4.6754®4.'J214. Spelter, $o.lo@ ■•; I <s> 6.25. Silver, Bl S-Se. ■'/ LOS ANGELES HERALD: THURSDAY MORNING, JANUARY H. 1010. Derricks, Buildings and Sump Holes on Premier Lease in Section 24, Coalinga \'"' ' ' ' s iijj '■■" " I - :t% ,x -'*V . sssm plll«l • :.: t »-?■»' :•■■.'.^ ——————— __—___-_ — ■ ■",: n : !;■ ■"■'■■■ ■■■■■:■-; • ■ ■ '-..■■= ■■■■■■■ ?■' ■■■" :;-."*■■ ■■ ■■■" ■ .- ■ ■■'■<■■■■■■ •■ ■■■ - ■..■■'- ■■■■■ " "-.- ■ -:--- ■■■ ■■ - ■■-."■■ -■■ ■ ■ ■: "■ ■■" ■ ■:-'" ' ■ '■ ■ ■■.; '- " ?■ : ..■"■:. . r' ■ . ;?. .i,;:«i-4-- >''t:-- <K-.»! ';.....■.:■ ■■■•.■?:.,■• ! - i:<; ' "'^i.- .':? J." • "'.■ ■*■■"?'■■ ,■■ ■, •'■'■•"■ Vv*.:;. ■/■■ '-a':- ■'■:■. '■:' : ■.'■'.■•: ' ' i:-.' ■ :'■ ■'. ".: ■■■'■'■ '$■?&:'■ '■■ ?;;'-'''' : .'■■'' '<"''- " ">■'■ '■'■'■■■■ [liiv ■■■■■> ■-. i .:.■■■ ■■ ■:•.:- --.-' ■ '•''.•.* i : ■:-. •. ■ '.'■■:■' ■■ '.:■';. ■■■.'■'■ ' ■■ ' ■- >-.-'. .. ■- ''. ■■-. a.■ -■ .-. . ' ■■'• ■■ ■ .-' ■ ■ ■..■"■■■ '.:•.-. :' ■• ■'■ .- ..! ■•'••■;-- ..".'■. ' ■ :■:■ ■■ ■."■■■■•: :" '■■"■ ■■■.■'. :.■■■ ■■■; ; ': : ■'' ■■..: ■ ■ '?■, ''■ ■."■■■; '■■ '■■ ■ ■'■■:■ ■■■;: :'■ .' ' :■: ■•■'■ At upper left is looking up Derrick avenue from the southeast corner of Premier lease, showing wells Nos. 9, 10 and 11 of the Premier, and Nos. 2, 3 and 4 of the.American Petroleum, the Claremont on the left and the Southern Pacific on the right in the distance. At upper right is well No. 5 and office building of Premier Oil company. To the left in the center row is cook house, bath house and two bunk houses of the Premier Oil company. To the right in center row is sump hole No. 8 of the Premier company, showing reflection of Nos. 9 and 10, two wells of the American Petro leum company, and No. 11. *.«.,.*«« At the lower left is looking northwest from the southwest corner of Premier lease, showing property of the Traders, Inea, K. T. i. O. Company At the lower right is view from American Petroleum well No. 1, at the southeast corner of Premier lease, showing Premier Nos. 9, 10 and 11, and in the background the Claremont, Traders and Inca. UNION HILL CUTS NOTED GREEK VEIN; ASSAYS $16-S2O TON NEVADA. CITY, J»n. 12.— As has been ex pected for many weeks, the famous Greek ledge in the Union Hill mine has been cut In the 600 level. The ledge ranges from sixteen to twenty-two inches In width, and the ore being extracted worth between $16 and $20 a ton. This is a veritable bonanza, considering the ease and cheapness attached to extracting the ore. The Union Hill ledge has also been cut. It Is between five and seven feet wide and pres ent values are «7 a ton, but even this leaves a handsome margin of profit. Superintendent Graham is highly pleased with the results so far obtained. The Union Hill, in the belief of men versed in mining, will become one of the largest producers in the state in time. CONSOLIDATED ENTERS STRATUM OF SOFT SAND The Consolidated Oil company, operating In the Coallnga field, hag reached a depth of 1350 feet, entering the soft sand characterized in the lo*r of the Commercial Petroleum. Water in small quantities was encountered and this will makn it necessary, as a precautionary measure at least, to finish the well with PA inch casing- Before shutting off the water. however, the management expects to carry the well down halt way through the eighty three feet of dark shale that shown gas. which Is the last formation rioted on the log of the Commercial Petroleum. The Indications are so promising for a first class well that the management announces It will take no chances of ruining the well by having any water in the hole when the oil sand is struck. The water rises in the pips about 300 feet and, as there is no great pres sure, to cement it off will be an easy job and one that will need to stand only three or four days. , ACTOR ACQUIRES COALINGA LEASE GOODWIN AND ASSOCIATES ENTER FIELD ■'""■—— MILLION-DOLLAR COMPANY TO BE ORGANIZED East Half of Section Eight, Where Theory of Light Oil Is Ad vanced, Figures in Deal of Local Men COALINOA, Jan. —A deal has been con summated here whereby Nat C, Goodwin, the comedian, and other Los Angeles persons, purchased the lease obtained by 1-4. R. Me- Cullom to the east half of section S. 19-13, from William Gray, Bert Williams and W. W. Terrlll. The deal Is an important one. In that, if the development work is successful, the field will be extended by the addition of miles of valuable Hnht oil territory. The owners of the land have given the territory a close study for years and, after the sinking of a test well and the study of the outcropplngs, have concluded that Jlght oil is to be found on the half section, and they are enthusiast la in their belief. The land lies a mile north of the famous Homo and Coallnga Oil 'company properties. Messrs, Gray nnd Williams advance the the ory that the Home and Coallnga are produc- In from a pool which Is supplied from the territory to the north. Drilling around the edges of the properties* has encountered gran ite, which Is pointed to as substantiation of the pool theory. The anticline is three-quar ters of a mile north of these famous holdings. The formation haa been traced north and northeast without a break. Give Indications of Oil The out (Toppings of sand and the test well which was % drllled about 380 feet deep when the casing, collapsed a few months ago, give indications of oil of the same character as obtained by the Home and Coalinga. These facts have given rise to the theory that the oil In the Home pool Is forced over the anticline by the great pressure from the up per territory, and that the real light oil ter ritory lies undeveloped In the north. This, however, contradicts the reports of Ralph Arnold, the government geologist, but the owners declare that the report of the gov ernment man has been found at variance with the conditions in this particular locality in several instances, anil they will uphold their theory until drilltiß tells the tiile. McCollum UCllred ;i twenty year lease with the prlvilPKe of a ten your renewal. The property ownere rue to receive a one-seventh royalty and ten wells must be punk in five years. The consideration obtained by the sale of the lease has not been made public. It is understood, a $1,000,000 corporation, probably called the Nat C. Goodwin Oil com pany, will be organized to develop the prop erty. WILL REBUILD CAPITOL NEW YORK, Jan. 12.—Elliott Woods, superintendent of the capltol at Wash ington, is in New York to discuss with architects here plans for remodeling the hail of representatives, "it has been determined u> decrease the size of the hall," ho said, "by about a third. This will involve practically the recon struction of the. house wing of tho I'iipitol from floor to mi if." •— |-x|- r- "CALIFOKNIA HED BOOK," ■■* 1^ rw~ presents two maps, one show* 111 Ing all the oil lit Ms of Callfor * ■•"■"■ n i a> the ether the Sespo dll trlct of Ventura county. A beautifully Illus trated book, written by a student of the oil industry. Absolutely Free to those Interested or wishing to share In th>< -mllllon-dollac monthly dividends. Write for It. WAT C. WEST. C2O Laughlln building, :.oi Angeles.