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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 10, 1974, Lethbridge, Alberta Thursday, October LETHiRIDQE HERALD-9 More to 6e drilled i Labrador offshore gas find biggest to date World's largest truck General Motors unveils the largest truck in the world, this 67 feet long and feet wide Terex Titan, called the largest hauler ever built. hauler has a payload of more than 350 tons and is to undergo a minimum of 12 months of testing at a mining site in southern California. For size comparison Michael Taylor of Los Vegas plays with his own toy truck and a Chevrolet Luv truck is parked in middle of bed of the huge hauler. CALGARY (CP) Oil in- dustry sources say the natural gas discovery by Eastern Ex- pioration Ltd. off the Labrador, coast, reported last week, appears to be the most significant find in East coast offshore to date. but far more extensive re- serves have to be confirmed and the political climate has to be improved before in- dustry will pour in billions of dollars of investment to bring the minerals to market. Because of weather and geo- logical conditions in the area, pipelines have to be built to bring the fuels to shore and overland to market. "It is too early to estimate the amount'of investment re- quired but it will be huge and in billions of says Carl Nickle of the Daily Oil Bulletin. Eastcan, a' consortium pi French, Italian and American interests, reported, last week that the drillship Pelican en- countered natural gas in its Gudrid H-55 Wildcast 55 miles off the Labrador coast under, some 600 .feet of water. The well, 500 miles north of St. John's and miles northnortheast of Montreal, one of the -likely marketplaces, was drilled to feet'and a hydrocarbon zone before feet was tested. "It flowed gas on selective tests at a maximum rate of 20 million cubic feet per day with some Eastcan said. "The tests produced no water and the results are en-, no estimated reserves can be established at this time." Newfoundland Energy Minister Leo Barry said two or three1 more test wells will Victims identified EDMONTON (CP) Police have identified Frank Lee, 21, and Catharine Chipchar, 19, both of Edmon- ton, as the persons killed early Monday when the car in which they were riding crashed into a power pole and caught fire. have to be drilled in the Gudrid formation before the extent of the reserves is known. He said he hopes the extension test wells will be drilled next summer. Although one trillion cubic feet of natural gas is reason- ably assured from the Gudrid formation, industry sources say it is not yet of commercial significance. The drillship Pelican has since plugged the well and moved to a site 80 miles to the northwest to resume testing of the Bjarni H-81 well which en- countered crude oil for- mations last year but had to be suspended because of weather. Pelican is expected to test the H-81 well Thursday, weather permitted, and a report is expected later this month. Officials of the petroleum associations in Calgary say the dispute between Ottawa the Maritime provinces over undersea resources ownership has to be settled and taxation burdens have to be relaxed, in addition to for- mation of commercially- viable reserves, before actual production would begin. The industry has spent more than million in explora- tion off the East coast in re- cent years. Thus far, none of the wells drilled is producing. IT'S TIME FOR A CHANGE VOTE FERENZ, AL A man who REALLY cares. Independent Candidate for City Irawted by CommtttM to Etact Al Fvranz. Copp er mine to close BRITTANIA BEACH, B.C. (CP) The Anaconda Co. said today it will close its copper mine at this com- munity, about 25 miles north of Vancouver, on Nov. 1. A spokesman blamed the closure on limited ore reserves, rising costs and reduced world prices for copper. Assistant mine, manager Joseph F. Novak said the secon- dary reason for the closure is new royalties imposed by the "province. Three hundred employees will lose their jobs. The mine is owned by Anaconda-Canada Ltd., a wholly owned sub- sidiary of the Anaconda Co. of New York. The decision to close the mine was made in New York. Mr. Novak said exten- sive exploration in the past 12" years has not revealed further copper reserves. The mine has been operating since 1915. It has recently been producing tons of' low grade copper ore a day which was shipped to the Anaconda smelter in Montana. Over the next four months, he said about 60 men will be employed in a cleanup program. It will include breaking down mine equipment and removing waste. Automobile insurance to rise TORONTO (CP) Cana- dian automobile insurance premiums are likely to rise in January, six months after the last increases, industry spokesmen said today. The spokesmen, however, ovald not agree on how high the increases may go, but some suggested as much as per cent to match the current -rate of inflation, Astodyisbongmadebythe Insurance Butcau of Canada to determine whether automobile insurance rates underestimated the mounting costs of replacement parts and body-stoop repairs. An industry spokesman said the cost of repairs is having a serious effect on rates. "It's very difficult for rates to keep up with the accelerated rate of inflation." Canadian auto insurers had} a ievwJ UltdtH Wi lllBg kSS Of I f 135.8 million in 1973 and dtcations are that the loss 1 year will be more than million. Peoples Jewellers is offering you an unbeatable value. Now you can set a beautiful table for 6, with 74 pieces in all. 32 pc. APOLLO Ironstone dinnerware...a rich creamy-white reminiscent of the classic beauty of the columns of Greece. Tough, dishwasher-safe dinnerware manufactured by Crown Lynn's Philippines factory. Includes: 6 cups, 6 saucers, 6 bread and butter plates, 6 cereal bowls, 6 dinner plates, 1 open vegetable bowl, 1 meat platter. 18 pc. Textured Glassware from Libby.-.cool and refreshing with reinforced rims...includes 6 beverage tumblers 13 oz., 6 old fashioned 9 oz., 6 juice, glasses 6 02. 24 pc. Classic Flatware by imperial International. Heavy gauge bright stainless steel with brushed handles, clean shapes: 6 dinner knives, 6 dinner forks, 6 teaspoons, 6 dessert spoons. This outstanding value is made possible by Peoples 125 store buying power, and it is your chance to set a beautiful dining table with matching setting your budget back. Another exceptional value from Peoples Jewellers. PeOPLGS jeweiieRS Centre Village Mall 13th Street and 2nd Avenue North Opm Daif fcOO fcm. to pjm. Thursday and Frtitef 9M io fcOO 327-1303 ;