Edgar Cayce Readings, 257-188

Time and Place: 3:55 to 4:05 P. M. Eastern Standard Time. New York City.

TEXT

GC: You will have before you the Oklahoma oil district around the Harley well in Section 24, 2 South, 4 West, as well as surrounding territory and also Range 3 West, Plot of which I hold in my hand; also Leon Kahn and [257] and Chris Beck associates, of Leon Kahn. Please advise them on the questions submitted, as I ask them, and give any general information Leon Kahn should have to advise producers and himself how to keep this field successful.
EC: Yes - some of these conditions we find most satisfactory, others are quite confusing.
As we find in regard to the Harley well, the gas pressure as well as the oil production (and it's 29 to 34 gravity in most of the field) will increase in the production and the pressure.
Ready for questions.
(Q) Should Leon Kahn sell his interest of 70 acres in Section 17, marked with X on the Plot? It is extreme S.W. corner of S.W. Section #17 in 2 South, 3 West.
(A) This, to be sure, would depend upon the activities in this particular field. Owing to the character of production, this will be under existent conditions curtailed somewhat.
As we would find, to insure for self the better activities, at least half of same would be well to be disposed of. This as we find, while in a greater part of the district as is being indicated will produce, but not so far into the southernmost and western portion of this particular portion on the plot. But this would insure the better, the SAFER conditions, at least.
(Q) Will he be able to receive $1000 or more per acre?
(A) This depends upon the manner of production and the closeness to which other wells may be sunk.
(Q) Who would be the most probable purchaser?
(A) Carter.
(Q) Should he sell 1/2 and keep balance or sell all -
(A) As indicated. It would be well to at least dispose of half at the time when they begin to cleanse the well, and there is the increase in the flow of gas or pressure.
(Q) How far will this field extend?
(A) As indicated, not more than half of those sections as indicated as being a part of the plot.
(Q) Is there a shallow field in less distance from surface?
(A) We do not find a shallow field or sand of sufficient production to justify the search for same. These, of course, will be had in portions of the field but not of sufficient or lasting production to justify their search.
(Q) How many oil sands does this well show that would pay well?
(A) These as we find have all been indicated in the log that has been carried forward in this particular well. All of these are deep sands, but are long and lasting and the gas pressure is heavy.
(Q) Will the gas pressure hold up to 42 million feet?
(A) Will increase as it is cleaned, and then the natural decrease that comes with other drillings in the section.
(Q) What gravity oil does this field contain over this section?
(A) As indicated, 29 to 38.
(Q) Could [257] in N.Y. syndicate this lease and sell it to a dozen friends and hold it for drilling?
(A) This would NOT be the most advisable for the eventual termination of the activities there.
It might be done, but it's not advisable!
(Q) Any danger in the offing in the Harley well being cleaned out properly?
(A) These as we find - the proper precautions are being taken and will be in keeping with that to produce the better production in this well.
(Q) Does the oil extend to the East under Section 1-12-13, all 2 South, 3 West?
(A) The oil extends more to the North and East than to the East or East and South.
(Q) Examine S.W. corner of Section 12, 2 South, 3 West - a Kahn tract - is this in oil bearing formation?
(A) These are very well, and are in those portions where production may be expected if the drilling operations are carried on there.
(Q) How deep is oil here?
(A) All is below the seven thousand foot production, or for the deep production.
(Q) How deep is oil under Section 8, 2 South, 3 West?
(A) All of these are naturally in the same sector or same sand in this particular direction, for the larger production.
(Q) Under Section 17, 2 South, 3 West?
(A) As indicated, all in this sector are in the deeper sands, for the large production.
(Q) Give each formation as you go down to log well.
(A) These have been given or are indicated in the log. Follow these; these are in keeping with the greater part of that as will be found in this particular area or section.
(Q) When will the largest boom prices reach peak before Jan. 1, 1938?
(A) When there is the cleaning out of the well, the increase in the flow and the beginning of other operations, this will be at the peak time; lasting about ten days to three weeks.
(Q) In order to be guided in future as to acquiring leases -
(A) These we would not advise in these directions, for most of these have been acquired and they are not worthy of over-bidding any on those activities.
(Q) Is there any other unusual oil deposits in this vicinity which should be developed by pay production?
(A) Not in this special vicinity, as we find.
(Q) Please examine under Sections 1 to 38 under 2 South, 4 West - which is biggest oil deposit under, in these sections?
(A) In those as indicated are the areas in which the greater production will be found.
(Q) Any other information or advice regarding this?
(A) These are the conditions as we find them. Any of those that are close about or in those particular areas or sections as indicated that go to the North and East from the Harley well are good. Those to the extreme South are not so well.
We are through with this Reading.
Copy to Self - Special Delivery
Copy to Ass'n file

BACKGROUND

Subject of Rdg. 257-188 - "Oklahoma Oil Lands".
7/30/37 He obtained 257-187.
8/22/37 He submitted questions on Okla. oil lands, saying: "If this is a good one, and he [Leon Kahn] gets some real money after all these years, I'd be inclined, if we were so advised, to again try OUR luck in Okla. You hit it right in Luling [Tex.] and would have in Comyn if we could have lasted."
8/29/37 He wrote: "I am anxious to have this information to take with me and talk to Christopher W. Beck of Cleveland. He has plenty of cash and fine associates, and we must get in on the play somehow. We were stopped by the depression, so let's get it this time."

REPORTS

9/18/37 He wrote:
Mr. Beck was here. He is drilling a well on his ranch in Texas [See 257-142] and is very anxious to meet you on his next visit. He may come down to see you. It is true that he has had a checkered career, but he now wants to get into a staple business where he can put his boy into business and be proud of him. He has a very fine boy of 23. He has promised to raise a substantial amount of money at once in Cleveland and the balance through stock subscription. I will keep you fully informed as to the next move.
9/28/37 He wrote: "I rec'd a letter form Leon Kahn in Okla. and I am sending you the answers as I did not keep a copy of the rdg. and this is the way he answered it to me."
9/30/37 EC's letter to Mr. [257]: "Thanks for yours of the 28th enclosing the report from Mr. Leon Kahn about the rdg. on well. Fine. I will make a copy and send you the original back. Certainly hope everything works out fine for him."
10/01/37 He referred 1448-1.
10/20/37 Mr. [257] obtained 257-189.
9/25/37 Mr. Leon Kahn's letter to Mr. [257]:
Dear [257] and [903]:-
Received the package from the New Yorker with many thanks, came o.k. Also received your telegram from Lexington, thanks. I also received Cayce reading. As I know you have a copy, I will indicate G.V. those answers that I think he is correct.
Sct. 1 - As there is an agreement about the drilling amongst the Mayor Co. that they would drill 1 well on each 40 acres one could not sell 35 acres to any advantage.
Sct. 2 - That's correct.
Sct. 3 - Carter Oil Co. are more apt to buy my tract, as it joins to their products more than any other Mayor Co.
Sct. 4 - Answer same as Sct. I.
Sct. 5 - Correct.
Sct. 6 - There is some shallow field that produces 5 to 10 bbls. of oil low gravity.
Sct. 7 - Correct. Sct. 8 - Correct.
Sct. 9 - The gravity of Hardy well Sct. 24-2-4- is a high gravity 42 to 44 gravity but the shallow wells are 28-38 gravity.
Sct. 10 - I think his answer is correct - etc.
Sct. 11 - Correct, they are very careful.
Sct. 12 - Correct, my opinion if it goes North it will get my holding in Sec. 8 and 5, 2 S. 3 West and East it will get my Sec. 17,2,S3N.
[257], I am very much pleased, the Harley well is making 3000 bbls. per day, and it is now cleaned out and all indications when clean will make better.
[Leon Kahn]