Word: oilmen
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...find even remotely like Venezuela's bountiful Lake Maracaibo area would be the joyous national equivalent of breaking the bank at Monte Carlo. Last week, in nine countries within 1,500 miles of Maracaibo, the quest for black gold was on more earnestly than ever before, with U.S. oilmen leading the pack. In rain forests and cane fields, dozens of drilling rigs probed for the telltale "show...
...work, and planned to bring in an offshore drilling barge. Houston's John W. Mecom and three associates were drilling a pair of exploratory wells in Honduras. In Guatemala, where 29 U.S. companies bid for exploration rights after the government of President Carlos Castillo Armas passed what oilmen called a "tough but workable" law, the process of sorting out overlapping concessions was going on, but no drilling had yet begun...
...been 121." Thus Texas Independent Oil Producer H. P. Nichols hailed Egyptian President Gamal Abdel Nasser for blockading the Suez Canal. At the annual banquet of the West Central Texas Oil & Gas Association came more kudos. "As the person who has done the most for West Central Texas oilmen," Nasser was voted the members' "extinguished service" award: a bright pink chamber...
...NATURAL-GAS BILL is being drafted by Texas oilmen, who are readying united-front to fight federal control of field gas prices. Oilmen will push bill in next Congress, hope to lessen opposition of consumer groups by including in draft a clause designed to protect gas users against overpricing...
...first, said SEC, was a merger between Sweet Grass and a group of Oklahoma oilmen who formed a company called Depositors Mutual Oil Development Co., which had leases on Oklahoma oil lands. For $1,900,000 they sold out to Sweet Grass. Meanwhile, Sweet Grass created 1,750,000 shares of stock, presumably to cover the merger and be issued to stockholders in D.M.O.D. But actually, said SEC, since the merger had already been paid for in cash, most of the stock wound up in President Ciglen's Toronto brokerage account...