Word: bolivian
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WILDCATTER Glenn McCarthy agreed to sell his last major oil and gas property, a 970,000-acre concession in Bolivian hinterlands, to Tennessee Gas Transmission Co., Union Oil & Gas Corp. of La., Murphy Corp. and Monsanto's Lion Oil division. Texan McCarthy lost heavily on Bolivian wildcatting, did not have enough funds to market oil after he found it. He will be lucky to break even on deal to give him $1,500,000 outright, another $1,500,000 if group can market...
...question of the artistic value of the painting. But how far can art go in the way of justifying everything? My point is, no woman, no matter how important or beautiful she might be, has the right to be smiling "enigmatically" for nearly five centuries. The action of the Bolivian crackpot symbolizes the repressed reactions of millions of healthy men when faced with feminine enigmas...
Bolivia's professorial President Victor Paz Estenssoro, struggling to rid his poverty-stricken nation of its longtime dependence on tin exports, signed a decree last week opening the way for foreign capital to come in and drill for oil. As the government's cut, the new Bolivian law demands 11% of the crude oil produced, plus 30% of net profits, plus a yearly concession tax of a few cents an acre...
OILMAN GLENN MCCARTHY, onetime king of the wildcatters, has found backers for his comeback attempt in Bolivia (TIME, May 16). A group of investors headed by Manhattan Rug Importer Robert Keljikan has put up $4,160,000 for a 50% interest in McCarthy's Bolivian oil field near Villa Montes, where he has already brought in two wells, one oil, one gas. McCarthy's forecast: between 35 and 45 wells in production, with 5,000 bbls. daily, within 17 months...
...concession, deep in the green hell of Bolivia's Gran Chaco Province. McCarthy has found a promising oil and gas field, there drilled three wells. The problem is to get the oil out. With his fresh money, McCarthy plans to build a feeder pipeline, tie in with a Bolivian pipeline recently completed to within 15 miles of his properties. Said McCarthy, as cocky as ever: "I want to speed things up down there. There's enough oil there to build bigger and better Shamrocks...