This psychic reading given by Edgar Cayce in Birmingham, Alabama or New York City, about June, 1920, for information on Miami Land Co. Holdings.
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. GKN: Tell us if there is any oil to be found in paying quantities.
2. EC: Yes, there is oil to be found here in paying quantities in different parts of this plat as we have it here. Will be found oil at different depths; we also get the lay of acres in the formation. This formation extends across this plat, towards sec. 34, coming across lower edge in horse shoe formation. Now we find this is not same formation as found in some places we have had* - runs from N.E. to S.W. then in loops as it is in formation - crosses here in sec. 35 and 53, 52 comes over both up and down you see. Depth from eastern edge to N. side will be shallower depth than western and southern; large production first from 1620 to 1900 see - see in depths that is feet, some 77,000 barley corns deep.
* [No copy of earlier Reading(s) on file?]
3. (Q) What volume production? (A) Running in production, 10,000 to 40,000 Bbl per day necessitate casing and pile driving in beginning. Hard and cretatious formation through depths 8 to 9 hundred feet - caving formations shallow depth - harder formations shale or lime, western side of this would be some phosphorous formations carrying hevy (heavy) percent at deeper depth.
4. (Q) Do you mean ten thousand to forty thousand per day? (A) Yes sir, that is per day. Gas or oil showing 1400 to 1620, then reaching to deeper depths. This will be a fair gravity oil and would be in some portions extra grade; if separated from water, the separation of these would make extra good.
The troubles encountered in drilling will be to separate between the salt base and the tidal effect on base showing water and oil. It is here in vast quantities, oil found only on the reef - west not so good as east.
5. (Q) What will be the cost to get to this oil. (A) Many propositions to be considered. First, the cost of location regarding the ability to handle teams, and to move
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rig, etc., onto same first drilling standard, second rotary, until formation is understood. Will cost 30 to 40 thousand dollars with additional ten to 15 thousand for preparation and location - total 55 to 60 thousand for first well.
6. (Q) What will be the duration of these wells? (A) Depends on location and care of wells. Will be from three weeks to three years, all floating oil and against the reef.
7. (Q) Any other details? (A) No, we have oil here. All we have to do is get it.
8. (Q) Any plan to get oil out? (A) Many plans, co'organized. Many individuals already interested in this part of the country, most of them in the north rather than for organizing. To develop, you can interest people in this district by geological reports of the Government, by what can be obtained from these, when shown to those who are able financially. Heaps of money will be poured in to it here. Get reports both local and government, then interest Capital interested in the development of their own country. Watch out for large corporations operating in this country, for they will get the oil and you will get the experience.
Formations here same as lower Cal. - much of same formation as Bull Buyou - same strata, much richer than those. Some of these wells, from 70 to 80 thousand per day. These will be 10 to 70 thousand. Follow this and you will get it.