Casper Daily Tribune Newspaper, January 10, 1917, Page 3

First Public Offering of Treasury Stock i ae | Wyoming Philadelphia Oil Company Incorporated Under the Laws of the State of Wycming CAPITAL STOCK $240,000 Par Value of Sharés PRESIDENT, CHAS. LIEBENSTEIN, President Associated Oil & Land Company SECRETARY, DAVID H, GRIFFITH, The Tribune Publishing Company $1.00 Each OFFICERS AND DIRECTORS Fully Paid Agent A ALEX B. KING, Attorne: Corporation Coun and Non-Assessable -VICE-PRESIDENT JOHN TRIPENY, Tripeny’s Confectionery TREASURER, TOM S. FOSTER, dams Express Company THE COMPANY OWNS SECTION 29, IN TOWNSHIP 40 NORTH, RANGE 80 WEST, POWDER RIVER DOME, AND IS PURCHASING THE MACHINERY AND EQUIP ENT TO BEGIN DRILLING ITS FIRST WELL WITHIN A VERY SHORT TIME. NO PROSPECTUS HAS BEEN ISSUED AND THE FOLLOWING FACTS ARE SUBMITTED AS THE BASIS OF INVITING AND ACCEPT- ING SUBSCRIPTIONS TO ITS TREASURY STOCK. 1 The Company’s lands are located in a district which has been examined and most favorably reported upon by many highly qualified and eminent geologists, from a few of whose reports are quoted the following excerpts: From the Report on the Powder River|From a Report on the Powder River Oil Fields by Oil Fields by PROF. W. C. KNIGHT es CARRCP TH. WEGEMAND, | ; } April, 1901 November, 1910 rc tees eee secant “The distribution of oil is control- 5 > jled by a structural dome much re-} simply expose the oil sandstones and | -embling that of the Salt Creek oil not remove the pBOry valuable area, | Geld, which lies some 15 miles to the| : the Producing seater eee, the| coutheast, but the strata in which oil axis of the anticline. occurs in the Powder River field are} “Oil candstones that will fill oil pits}jower in the geologic column and| to a depth of from 10 to 20 feet|/oidcr than those which bear oil at along the outcrop are seldom scen,! Salt Creek. and the amount of oi! and pressure} necessary to accomplish this bespeaks' tion of the anticline at Salt Creek, untold advantages of this field. | except that in the Salt Creek anticline “In conclusion, this field must be|the northern dome is the larger and considered one of the best in Wyo-| produces the oil. In the Salt Creek ming. The structural features are! dome only the rocks of the Montana! ideal. There is one very thick bed of|group are brought to the surface, oil-sandstone exposed, with good evi- | whereas in the Powder River Dome dence of two lower sands and the pos-|older formations are exposed. In} sibility of a fourth in the Permian or|dther respects the two anticlines are Carboniferous. very similar and apparently were “The whole structure is a duplica-! fable contemporaneously by | From a Special Article by same forces acting in the same way. MR. EDWIN HALL “If, with an older school of oil men, we believe the accumulation of| AS The Casper, Exess: Sept; 20; 2028 oil is due principally to the difference} between oil and water, the oil grad-| ually working its way upward because! of its lower specific gravity, the east; side of the dome still appears to offer the more promising field for prospect-, ing, for on this side, owing to the! 3 : ‘ spat gentle dip of the rocks, the gathering | Un" y for foun? oneal a bales = ground for the oil is extremely large, sti Ahtinend ule ina Dees Re tia EL s ially s ; ee eae that there has been a constant drain “The presence of oil in two sands|of about 12,000 barrels per day dur- in the Morrison and its existence in|ing this period. The wells in this field the Sundance formation, as wel] as its|are producing from what is known as presence in the Dakota (at four hori- | the Wall Creek sarrdstone. After the illustra ion; of how structural geology , distance of/oil in this sand is exhausted, there ¢*Presses itself upon the surface of, 300 feet) would seem to indicate a/still remains four other sands under the earth, as, structurally, this Dome zans in a stratigraphic common origin for the oil. It does|this field within easy reach of the drill. not seem unreasonable some source as yet undiscovered, and| productive as the upper onc, thus ex- that it collects in any sandstone|tending the life of the field into fu- which forms a convenient reservoir.|ture generations. The Embar formation and the over-| . lying red beds are both within the|field known as the Teapot Dome, al- reach of the drill in the Powder River|}most as large as Salt Creek, and al- will be found. field. ready proven to be oil bearing. lsign of weakening, notwithstanding | 4 Twenty miles west of the Salt Creek) position of the stratas of the Powder dome is the Tisdale or Powder River| River Dome are extremely favorable |Former State Geologist of Wyoming dome, the upper sands of which have for the existence and preservation of ‘been wasting their oil in springs or oil. |seeps, probably for millions of years, “It is certain that there is oil in The Salt Creek oil fields are with-| yet lying under this structure is an Powder River Dome, and more partic- out doubt one of the most wonder-/oil sand known as the Embar sand, ularly so in the eastern portion, and \ful pools ever discovered, owing to/awaiting to give up its oil treasures as it is my opinion that it is but a mat- \the character of its oi, the proven|soon as some one has the nerve and ter of drilling to determine its quan- lasting quality of the field and the capital to penetrate it with the drill. fact that, after producing oil contin- tity and quality and develop the Dome into one of the best and larg- est fields in the State, “In conclusion, will say F eonsider From a Report of MR. D. W. HUDSON the Powder River Dome ponsesses on the ptyrsiae mere Vil Dome great merit and possibilities, and fully une, | warrants development, which I have ‘Powder Bh D ; . P| hi hesitancy in recommending, fen Gf howe cee ye endid| “In Bulletin 12, Page 130, State Geologist L. W. Trumbull says: “Up to the present time every perfect structure drilled has proved to be a reservoir.” J consider Powder River is practically ideal, and it is readily to suppose! Geologists and oil men have no doubt Seen what the structure should PFO-' dome a PERFECT STRUCTURE, en- that it is working its way upward from|that all four of these sands will be as duce. rf 7 _ joying the advantages of shallow ter- “The great wall that encircles this ritory, inexpensive drilling, fme nat- dome with its elevations, forms a ural physical conditions, and, with the storage place for the oil at.d the gen- combination of capital and intelligent Lying adjacent to this field is the eral theory among vil men is that in’ work, I ean see no reasen why the such places valuable accumulations Dome should not develop into a very 1 prolific oil field, with legitimate in~ “The undisturbed and horizontal vestment proving most profitable, Eminent Geologist Avers Powder River Dome is Among the Best 3 Carroll H. Wegemann, the eminent geologist who spent many months in surveying and making a geological report on what is known as the Powder River oil field, in the north part of Natrona County, a few miles northwest of Salt Creek, was a recent visitor to the scene of his labors, and expressed him- self as being ly pleased at the activity in evidence, where he predicts that one of the largest and best deposits atoll to be found in the State will be opened up. “Tt has always been a wonder to me,” said Mr. Wegemann to a prom- inent oil man at Salt Creek, “that development has persistently spread to sections possessing much less probability of containing oil in commercial} quantities while such a promising prospect as Powder River dome, lying) close to pipe lines, has been until recently untouched.” A company of Kansas City capitalists have taken a lease on approxi- mately 7,000 acres of land on this dome and have installed a standard drili~) ing outfit on their holdings. E. J. Masson is superintending the drilling. It is expected, weather conditions being favorable, that Mr. Masson will. have reached the oil bearing sand by the middle of January. This company A special report was made on the property by Mr. D. W. Hudson. which is herewith published in full, it being deemed sufficient to justify the present development: Casper, Wyoming, October 2, 1916 To Wyoming Philadelphia Oil Company, Casper, Wyoming Gentlemen: Complying with Jour request for my spinion So Sec, 29) in TEN Ree. say; same ci ions i re} the ute or Dome. a copy of which Therewith attach, obtain on this section of land_and I consider it possesses both merit and great possibilities, as much so as any of the sections within the boundary of the escarpment is financed by men who have sufficient capital to carry their project to a successful end and they are offering no stoek for sale. The Bessemer Oi] Company will be one of the principal factors in the development of the Powder River field, owning a lease on about a thousand acres on the upex of the dome, and a lease on 640 acres in the Salt Creek Seld. The Bessemer company will be ready to operate before Spring and will drill their first well on the south half of Section 2-41-81, about a mile south of the well now being drilled by the Karfsas City company. R. J. Messier, of Denver, and his associates, control eight sections in the Powder River field. A good part of their holdings are leased to drilling companies who will begin their operations within the next few months. Among the companies who hold leases on the Messier holdings are the Moun- tain States Oil Company, and the Midland Qil and Drilling Co., both of which will drill on section 36-41-81; the Hines Oil and Gas Co., of Okla-| homa, and the Mid-Continental Petroleum Co. of New York, each have se- cured leases from Mr. Messier on school section 16-40-81; The Hines Oil} and Gas Co., and the Mountain States Co., will drill their leases on school) 2 many of which have visited and ‘worked upon during my past two months’ general Field work on the Dome. , y In the four holes, bored to depths of 25 to 40 feet, to validate the land, there is oil similar in nature and quality to’the oil found in the small wells and “oil seeps” on Sec, 4, in Twp. 41 N., Rge. 81 W., which, as all geologists who have visited the Dome agree “‘must be working, its way upward from some source a8 yet undiscovered on the dome”; further proof of this is also seen on the adjoining section to the west—Sec. 30, in twp. 49 N., Ree. 80 W., where the validating work disclosed free oil at depths of $0 to 40 feet. Having thoroughly studied the formation of shales’and sandstones of the surrounding country, y do not hesitate to say the indications for obtaining oil of good grade on this section are most fayorable. The Pressure from the rock and water formation surrounding it shows plainly “‘a flowing well” should be cbtained and it is my opinion that a well section 16-41-81; The Engman Oil and Gas Co., of Calgary, Canada, have secured leases on half of section 25-40-81 and half of section 25-41-81 and half of section 8-40-81. Each of these companies is under $5,000 bond. to aparenteg that they will drill before June Ist, 1917, and Mr. Messier states at there will be at least nine rigs operating on his holdings next spring. The Powder River field contains the best defined dome and the most perfect structure in the State, according to geologists who have made. re- ports on the field and experienced oil men who have viewed it and at once secured holdings. | _ . The close Proximity to the Salt Creek pipe lines, .a distance of ubeut eight or ten miles, makes the district especially valuable since the product of the field is ily marketable at the Casper refineries. It is predicted that the Powder River field, which extends for a distance of sixteen iniles nerth end south nnd ten miles cast and weet will he the next big sensation in Wyoming oil circles.—Casper Daily Tribune, December 2, 1916, {drilled on the Northwest quarter of the Northwest quarter of the seetion (which I recommend as the site for the first drilling) will result in a good producer at from 1,000 to 1,200 feet depth. It is finely located for economical and effective operations, bei 71 good road, easy of access, cléke ty Salt Creek (to obtain cheap fuel’ while drilling the first well) and water for both drilling and domestic purposes, can be had within a mile. Everything considered, I ean see no reason why its development should not prove most satisfactory and have no hesitancy in commending it as a first class oil proposition worthy of investment, and one whieh should, under Pro- per exploitation and judicious manegement, result successfully and prefit- able. 3 Very-truly, « D. W. HUDSON. : : The company owns its property, consequently will get full benefit ‘of ‘A production. ; 4 : It has a small capitalization—large capitalization means earnings divided into small dividends, small capitalization means earnings divided into large dividends. ~ ; : 5 ; i The directoraté is°composéd of men who Will manage the affairs of the company on a 8: bate: er Pag se ; every- thing done will be in and for ders. 6 The company’s property is contiguous tc lands controlled, e! a s r lease, by some of the best and larg- . Fog legac gta ter . Cortlandt Lawre' e section just leased by a e hwest from the site ‘ | are ii ‘in nd by a syndicate of some o Denver's! large divid most prominent citizens early this spring. In fact, we will “neighbor” some of the best oii operators in the country. 7 ONES In each of the four validating wells Free Oil is shown, prac- ed in a Withdrawal Act. 8 The co: ny will own its machinery and equipment and all dévelouaneariiihe under the directsaperviston of a thorough- ly experienced field superintende’ former means drillin: minimum expense.” : ¥ e time ducing well will be brought-in e y i com: i Realizing tie large profits, which will nattrally. result A little com} f “the right kind” and ‘“‘the right le’? who will see that “the right things” are done in “the 1 A little company owning its in a pros field hich hae “otosd the acid tot” and bee nct Binkiv tically guaranteeing the company’s land from ever being includ- propery: and ex hi d where wanted on its own lands and other 4m al Pinas which denabe aedtived ; the latter means “development at| dividual through the “unloading of his personal stock.” From attending geological conditions it is believed a pro- rues goys sro ‘ commence. ean : the. Avail on the " Meat Powder River! ¢p resent offering of Pasdait Stock is the first stoek ot fuel the many’ ies which will be op-| que se ; p Rand _there in the spring must be apparent to any thinking “" Sar en ¢ : 3 ends, from this source is the One and Brincipal rea- p son why operations will be started immediately, despite this |season of year. a Not.a share of the Sapiial Stools parr ie in Bae sites nses can be sold—EV ‘ ie IS “POOLED IN TRUST” and absolutely not a. not even the right to deliver a a aT eee jate expiration of the. pool on June 30 mi or their money’’—that it é used in of d its Btociholders ana not-for the p and gain of There are no high-salaried officers, no usnbeged or umeces- sary administration expenses. Overhead charges are now and will always be at the Pte se elo’ (0 i “WYOPHIL™ 4 yekhol lines in the interests of and Promives—in_ more than: Its affairs ; mE ee 4 } 4