Atlanta Georgian and news. (Atlanta, Ga.) 1907-1912, July 20, 1907, Image 5

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OIL FOUND IN SECOND GEORGIA OIL WELL SHARES ADVANCE TO ONE DOLLAR JULY 27. Again we have the satisfaction of announcing that we have found the oil stratum on our vast properties in Jefferson County, Georgia. This time it has been encountered in our second oil well which is rapidly nearing com pletion. This same stratum was encountered in drilling our first well, at the same depth, and the finding of it the second time can mean but one thing—that tho seepage from the lower deposit, which we are confident will be found at around 1,200 feet, is not a mere local condition to be found in one spot where our first well was drilled, but that it is a general condition which indicates that tlic main deposit to do found below is of large extent and „—. — nding of ■ ‘ - * .."I-. - . . therefore must contain immense quantities of the precious petroleum the finding of which we have labored hard and earnestly to accomplish—with every assurance of success right now before us. We are rushing the completion of this second well just as much as possible so as tp get down to the storehouse of Nature at the earliest possible moment and secure from it the vast treasure that is now practically certain to be found. We desire that our fortunate shareholders be rewarded with the immense returns which are coming to them just as quickly as possible. For tho opening up of this oil field means millions of profits to them and much added prosperity to the entire state. f We aro confident that it will not be necessary to go beyond a depth of 1,200 feet to find the main oil deposit. We are now averaging a depth of 100 feet per day, so that we can.safely count on reaching that depth by the last of the coming week. We are prepared, however, to go to a depth of 2,000 feet if necessary and are determined to reach tho main oil deposit at any cost now that its existence is .entirely established to our satisfaction and to the satisfaction of the oil experts in charge of the work. Von have one last chanco of joining with us in the development of this great oil field and of participating in the wealth that will be the result of the opening up of the oil field. For a few days only the price of stock in this company will remain at 40 cents—to be advanced at the end of the week to par, $1.00 per share—to go skyward in leaps and bounds the minute the first gush of oil is encountered I in this second well. Shares To Advance to $1.00 With the finding of oil in our first and second wells, at two points on our properties; with the ceaseless flow of oil from various oil springs on and around our properties; with the encountering of natural gas In several Instances; with the establishment of the fact that all the geological con ditions for fndtng oil In Immense quantities are present on our proper ties—with all these conditions developed to our entire satisfaction, point ing directly to the opening np of an oil field at a very early date, we feel that It Is no more than just to our old stockholders that we soon advance the price of shares to a figure commensurate with their value. It baa been decided, therefore, that during the coming week, until midnight July 27th, the price of shares will remain at 40 cents, hut that thereafter the price will be advanced to par, 21.00 per share. Wo make the further reservation, however, that Jn the evept that the work of drilling this second well, to the main oil deposit progresses more rapidly than wo anticipate and the main oil deposit Is encountered before July 27th, we will, without notice, either advance the price of shares or withdraw all stock from the market. Yonr opportunity of joining with us In the development of this great Georgia oil field and of reaping the enormous profits that will result from It Is, therefore, very limited. You may have until July 27th to purchase eheres at 40 cents—your opportunity may bo limited to the next two or three days. We would advise all w;lio wish to purchase these shares at the present low price to get their orders In at once, as all orders will be filled In the order In which they are received up to the hour when the price sdvancos or the stock Is withdrawn from the market. Convincing Indications of Oil Attention was first called to the possibilities of opening up a great oil field In eastern Georgia by the finding of scums of crude petroleum float ing on the surface of various springs in tho vicinity of Louisville, Jeffer son county. It was noticed that this oil como Into these springs In a constant flow and it was readily seen that It would be but natural to suppose that where that oil came from there would be more of It The aid of geologists and chemists was enlisted, the former pro nouncing all tho geological conditions for finding oil In paying quantities as being present, the latter pronouncing the crude oil from these springs crude petroleum of high grade and very valuable If well could bo Bunk to the main deposits and the oil be secured in quantities. Various oil experts were called In and one and all pronounced the outlook as very bright from a practical oil man's standpoint. As Mr. Arthur Mandell, one of the best known oil experts of the country, stated: "The Indications you have for oil are much moro pronounced than In many of the oil fields of the IlOr'h." Leases on over 12,000 acres of land were taken and The Georgia Pe troleum Company yras organized to raise capital for tho drilling of oil wells to such a depth as might prove necessary to tap the main oil de posit and secure this oil In Immense quantities. Many of the leading bust neas men In the state at once became Interested In the company, realising that the development of an oil field In Georgia not only meant Immense returns on the capital they Invested to the stock, but also greater prosper ity for the entire state than anything else that had ever been done. A Hoard of Directors was chosen from among those business men with an idea of giving the company the best possible management and mate rials were bongbt and the first Georgia oil well was commenced. This well was drilled to o depth of *00 feet, where a splendid showing of nat ural gas and crude petroleum was encountered. But with this oil and gas there was found inch an enormous rock pressure, apparently com ing from the oil stratum below, that It was found to bo Impossible to con tinue drilling with tho tools that were then on the properties, and It was deemed beet to secure a completely different outfit of machinery such as Is used In the great Texas oil fields. A carload of Texas rotary drilling machinery was therefore secured and a second well started. It'was thought beet to start tho drilling of the second well at once rather than take the time to complete the first well at that time. This second well has been drilled very rapidly and Is now very near completion. In drilling these two wells several very Important things have been developed. First In Importance comes the finding of oil In considerable quantities. Second, the finding of natural gas, tho Invariable companion ot olL Third, the establishment of the fact that the strata lie horizontally beneath our properties, it being necessary that they be found In this shape in order that oil may he found In large quantities. And next, but by no means less Important, Is the fact that all Texas oil men to whom wo have submitted our conditions tell us that they are exactly like the conditions found Jn drilling the biggest gushers In Texas. INCORPORATED UNDER THE LAWS OF ARIZONA. CAPITAL STOCK—500,000 SHARES. PAR VALUE, $1.00 EACH. Forever Full-Paid and Non-Aateiaable. TREASURY 8T0CK—300,000 SHARES BOARD OF DIRECTORS! W. W. WILLIAM SON, Savannah. President Chamber of Commerce. WRIGHT HUNTER, President Cotton Ex., Savannah L. R. FARMER, Secretary and Treasurer, Louiavllle, Ga Caahier Bank of Loulavlllo. WILLIAM F. LITTLE, Vico President, Louiovillo, Ga. Of The Little & Clark Co. JOHN R. PHILLIPS, Louisville, Ga. Of Phillipt A Phillips, Attorneys. HORACE E. FRAME, Savannah. OTTO O. TAGUE, Preaidant, Savannah Oil Operator sf Ohio and Pennsylvania. E. B. HOOK, Editor Herald, Augusta. Date. .1*07. OTTO G. TAGUE, Proa. 1001-2 National Bldg., 8avannah, Ga. L the undersigned, hereby subscribe for shares of tht Capital Stock of THE GEORGIA PETROLEUM COMPANY at 40 cents per share of the par value of Ono Dollar per (hare, full paid and non-asteatable, amounting to Dollars, which sum I Inclose herewith. Name Our local representative, Mr. R. O. Foard, 400 Austell Bldg., will bs glad to call to see you on receipt of request Street Addreea. City and State. An Oil Field in Sight Wo believe that all these-things can mean but one thing and that the development of an Immense oil field In Georgia In the next weok. We believe that today practloally all the speculation has been removed from this stock—that It la worth all* that Is now asked for it and more. We feel that today about the only epeculation In It Is confined to the ques tion of how great a flow of oil we will secure from the lower deposit and how high the value of the stock will climb as a result Will, wo get a well with a dally capacity ot 100 barrels or wlil we open np a,gushor and secure a flow of 25,000 barrels dally? Those are the questions yet to be determined. The famous Lucas gusher of Texas flowed at the rats ot 90,000 barrels of oil per day—700,000 barrels In nine days—and tho Texas oil Is worth 90 cents per barrel. Every feature of tho wolls we.havo drilled on our properties coincides almost exactly with the Lucas gusher—oil In small quantities In both Georgia and Texas-at about 800 feet-and tho geo logical strata found to bo almost Identical. With a well producing the precious petroleum at the ratetof 100 bar rels per day on our enormous properties our shares would have an Imme diate value of from *5 to *10 each. With a 26,000 or 90,000 barrel well on our 12,000 acres of property every share would be worth from, *50 to *200. At any rate we now have every posatblo assurance that wo will get oil In some quantities and that the stock will never bo worth, loss than Its present price. In fact some of the leading oil men who have recently been on our properties think that wo can secure from 60<to 100 barrels per day of oU from this first oil bearing stratum. 40 Cents Now. $ 1 in a Few Days This Is the last call. You now havo the opportunity of a llfotlme to buy at 40 cents a stock that apparently la worth all of tbattand may be worth 160—1100—1200 a shore Inside of tho noxt week. All orders recelvod until July 27th st midnight will bo* filled In the order In which they are received at 40 cents per share, providing that the mala oil deposit Is not cnoountered before that date. After midnight July- 27th the stock will cost you at least *1.00 per share and no •telling how much moro. Speculative? < Yes, as explained above, tho stock Is speculative. But you nor anybody'else ever made large returns on anything In your* life without speculating. If you buy a non-spcculatlvo stock you will gat'8 to 0 per cent returns. If you buy this stock at *40 conts you havo on. excel lent chanco of.seeing It climb In value In tho next fow days to such a price that you can get hundreds, yes, thousands per cent-returns. Life Itself Is a speculation and everything concerned therein. Tbo Immense fortunes of this country were not made by bard work and toll nor were they made In buying stocks that net 6 per cent returns. They werounade by speculating In just such a stock as wo aro now offering. You havo tbo advantage of knowing that-tbe business men at the head of this company will give tho company an honest management They are your friends, neighbors and business acquaintances. They havo thou sands of dollars Invested In this stock. They believe In It They recom mend It to you. Your Last Chance When wo announced that our shares would advanco from 25 conts to 40 cents many who desired to secure the stock at tho old prlco waited until the last mlnuto before sanding In their orders, with the result that when tho tlmo came to advance the price we had orders for over 17,000 shares which we could not fill. The result was that many who desired to secure the stock at the lowest price were compelled to pay 40 cents for 1^ We have no doubt that the same condition will prevail In tho present case. Many will put off ordering until the last moment and will then be glad to pay $1 per share whilst they could by exercising a little more promptness secure the stock at 40 cents. Do not delay-order all you want at once. Telegraph yonr orders and we will reserve tho stock pend ing the receipt of your remittance. $600 will purchase 1250 shares, par value $1250 400 will purchase 1000 ehares, par value 1000 300 will purchase 750 shares, par value 750 200 will purchase BOO shares, par value 600 100 will purchase 250 shares, par value 250 80 will purchase 200 shares, par value 200 60 will purchase 125 shares, par value 125 40 will purchase 100 (hares, par value 100 20 will purchase 60 ehares, par value 6Q 10 will purchaae 25 ehares, par value 26 No Orders Accepted for Lest Than 25 Shares. FIRST COME—FIRST SERVED—WIRE RESERVATION The Georgia Petroleum Company 1001-2 NATIONAL BUILDING, SAVANNAH, GEORGIA.