This psychic reading given by Edgar Cayce at the Hotel McAlpin in New York City, this 18th day of April, 1921.
P R E S E N T
Edgar Cayce; G. K. Nicodemus, Conductor; (?), Steno.
R E A D I N G
Time of Reading Unknown.
1. EC: Yes, we have it here. We have had it before.
2. (Q) What are the conditions of affairs in the Cayce Pet. Co. of Texas, as we find them to-day, April 18th, 1921, Mr. Cayce? (A) The condition of affairs in the Company, that is the Cayce Petroleum Co. of Texas, today would depend on the view, and who was going to engage in stating the conditions of the Company at the present time. The conditions are not all good from some standpoints, they are very good from others. The standpoint depends on the view in which these are taken as to the condition of affairs in the C.P. Co. on this, the 18th of April, 1921. From the financial standpoint affairs are at a stand-still at the present time. The condition of the leases owned by the Company are in fair shape for immediate action, if it were taken. As for the holdings of acreage, none of the oil has gotten away. In fact there has been some change in conditions that have come into existence that would make these conditions even better, see? Namely such as the relative positions of operating fields, and the activity about some of the acreage that is in the same district has been such, and are such at the present time, that make it (that is the C.P. Co. of Texas,) a better proposition. This is the condition of affairs.
3. (Q) On March 31st, 1921 the Forces told us that on the San Saba property everything was in readiness, and that the hole was 125 ft. deep, and that it had reached that depth on March 14th. Since that time we have had information from Texas that causes us to think that there is some discrepancy in this information. Straighten this out for us, please Mr. Cayce. (A) San Saba property of the Cayce Petroleum Co. Texas, the property that is known as the Rocky Pasture, and on which through various channels there has been some good locations made for various ones to test out and prove this land. This is at the juncture of the Colorado river and the San Saba river. The San Saba river and the Colorado river forming the southern boundry of this property, and also some of the eastern boundry; the western by the San Saba river; the northern portion, a straight line, commencing with acreage owned by some other property owners. On the western side we find there has been developments going on by another Company
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other than the C.P. Co. This separates some of the acreage owned by this Company (the C.P. Co.) here in Rocky Pasture, where locations have been made by and for the C.P. Co. of Texas by these Forces here; that is on the central western part of Rocky Pasture, on this dome here, on which there has been and is now erected, a derrick for drilling into this property, see? This has been completed and is ready for the operations: That is the digging of pits and embankments to save production, the laying and cutting out for water lines and mains to be used for this, as you will see here on this property of San Saba, in San Saba County and called Rocky Pasture, and owned by the C.P. Co. at the present time. The hole has been spudded in preparatory to having a larger machine. The depth that has been reached in the hole itself under the machine, that is where the derrick is erected, in some 12 to 14 feet from the top of the ground. The hole for the water main is 91 1/2 ft. The set of casing for this hole will be 125 ft. The finding of first showings of oil are in the water well, but where the well is to be drilled the first showing will be at 960 feet and 4 inches. The showing of the second oil sand would be at 1760 feet, and which would pay if conducted properly, and is not drilled into with water; for we will be drilling in formations peculiar to this district, that is, formations of porus lime and sand. The larger production we will find in the dome at 2600 feet, which will be something better than 40,000 barrels, reducing to more than 5,000 barrels a day. These are the conditions as we find them to-day, the 18th of April, 1921.
4. (Q) How far down is the hole, which you said in a previous reading was 125 ft., Mr. Cayce? (A) It is on this same location, or in this same district. One is by the school house, and one is by the gate, both of these show the water strata. Both of these are 125 feet.
5. (Q) Is there a well on the property of the C.P. Co. of Texas, that is 125 feet deep and on the San Saba acreage, Mr. Cayce? (A) There are two, just as we have given here. One we find here on the property by the gate that enters the property from this north and western entrance, 125 feet. We find one well on the east side close to the river and the school house, also 125 feet. On the site of the well itself the hole is 12 feet. On the water well where the line is run it is 91 1/2 ft. This is what we find on the property.
6. (Q) When was the hole that is 125 feet drilled in, and why was it abandoned, Mr. Cayce? (A) It was begun on the 19th of Feb. for the purpose of
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determining the strata of water, as given by these Forces here, for the use of those owning the adjoining property. It was used by them and abandoned by them.
7. (Q) Give us the same information, if possible, for the hole at 91 1/2 feet, Mr. Cayce. (A) It is used by those constructing the pipe line here, for the water.
8. (Q) Do you consider the people now on the ground competent to handle the affairs of the C.P. Co., Mr. Cayce.? (A) The only ones on the ground are the ones who are taking care of the houses and stock. They are the only ones on the property.
9. (Q) Are the men directing those on the ground, competent, Mr. Cayce? (A) Competent for some objects.
10. (Q) Is it best for the C.P. Co. to have a well sunk immediately in Ark. Mr. Cayce? (A) With the excitement and operations that we have in Ark. we would consider from a business standpoint, and from the financial condition, and the future of the Company that this should be done immediately if not sooner.
11. (Q) Even at a sacrifice, Mr. Cayce? (A) Even if they give all the well, for it would be proof of operations, and would have production at 425 feet. We will have production here, as we are on the positive dome. This is some 4 miles south of Hindsville, Ark., Madison County; this runs then to the west by north. It is only in the extreme portion of the acreage owned by the C.P. Co. on which we do not find oil, and much of this is gas. The larger production of oil will be found through the south and west portion of this acreage. It would be well for this acreage to be blocked up. It is very good. There are two sands in the west part.
12. (Q) Is the plan discussed by Nicodemus and Cayce this morning the correct one to follow, Mr. Cayce? (A) This is for others, not for these here. We do not give forces for others, unless it belongs to them.
13. (Q) Are there any other details, Mr. Cayce? (A) We have in this district, San Saba, Texas we are speaking of, wells that have been drilled to various depths. For instance we have here just across the Colorado river, to the west, a well drilled to 970 ft. by the Atlantic Co. - check this up, it is history - and abandoned in 1919 on account of caving in and water troubles. Oil showed at 960 ft. This is the strata that we find in this same district. We have the Hoefstettler well, that has been drilled and
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shows the three formations as given in the outline here, you see. This shows the formation as has been given to be found in the well, or the location to be drilled on the Rocky Pasture acreage, showing water strata in a general way, and oil strata in a positive way. This Hoefstettler well for personal reasons has been stopped. Then we have one just below this, begun by the Sun Co., that is to the south you see from the Cayce acreage. These three were abandoned on account of the structure encountered at less than 1000 feet, while the one we have found drilled by the Independant to the east and west. We are lying between acreage owned by the Company. We have found the formation as given here. Water at 91 1/2 feet. Set first casing at 125 feet. They have suspended operations awaiting the action of eastern capitalists regarding the same things as given here; that is regarding the C.P. Co. of Texas. One that is further to the north has been found to show the indications at depth consistent to the fall of the anticline. Here we have two anticlines passing through the property. We have the third around the bend. As we give the geographical formation, and as we find by the difference in the dip in this structure, we would find that the pool or outcroping, or the force of the oil is as given by geologists; that is that the Cayce Petroleum Co. of Texas owns the oil. These are the conditions here. All this can be verified. Check it. We have it. It is there.
14. We are through.