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Newspaper
Clifton Record
Location
Clifton, Texas, United States of America
Date
Apr 04, 1919
Page
15
A prospectus outlines securing a lease and drilling an oil well within sixty days. The plan offers stock divisions of 20,000 dollars or more to friends, with 45,000 dollars for turnkey drilling and 5,000 dollars emergency stock. No salaries, no agent fees, and a one thirty second production brokerage paid by the lease seller.
The notice warns investors to limit risk in oil plays and advises against large sums from those with limited means. It introduces Tom Massey and Norman Smith of Walnut Springs as partners, who have drilled in the Duke field and will dig the well for 45000 dollars. The plan emphasizes acreages near big wells, small capital stock, and personal oversight to ensure safety.
The deal secures a drilling lease on a contract basis with no upfront payment. After production starts, the company receives the first 20 thousand dollars of production before paying the lease seller any amount. The owner’s royalty is excluded from this initial share. Following that, seven sixteenths of net production go to the seller and seven sixteenths are retained by the company.
An oil investment pitch outlines capital stock of 45000 dollars with 5000 dollars emergency stock. Shares at 50 dollars fully paid, temporary trustee W M Sutphen receives subscriptions. Project claims 24000 barrels monthly and 54000 dollars monthly income, promising 50 percent dividends on an 800 barrel well and potential gains on larger wells.
A map shows a two acre lease amid active Hog Creek oil fields just northwest of Duke and Knowles wells, adjacent to Sankey-Shelley and J D Herrington producers. The area lies near Desdemonia in Eastland County with Magnolia and Humble wells reaching sand tops, signaling strong production potential.
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