HomeINDEX0001-0999Readings 261

READING 261-30
M 50 (Banking, Investments, Protestant)

This psychic reading given by Edgar Cayce at his home on Arctic Crescent, Virginia Beach, Va., this 14th day of March, 1938, in accordance with request made by the self - Mr. [261], Active Member of the Ass'n for Research & Enlightenment, Inc.

Present: Edgar Cayce; Gertrude Cayce, Conductor; Gladys Davis, Steno.

Time and Place: 3:50 to 4:00 P. M. Eastern Standard Time. New York City.

TEXT

  1. GC: You will have before you the A. V. Oil & Gas Company, located at Dundee, in Monroe County, Michigan, the last well to be brought in and the southernmost of the three producing wells, is located in Section 30 of range 6 on the Dundee township map. This well is producing at present slightly over 5 barrels per day, not sufficient to justify expense incurred in drilling it. You will ans. the ques. submitted, as I ask them.
  2. EC: Yes, we have the operations here and those conditions incident to same. In some respects these we have had here before.
  3. In considering the existent conditions, as we find - in the present producing well (the southernmost):
  4. If there will be used the acid that is at times used in deep OLD wells - or the acid process - this will be sufficient to insure the production in the present sands sufficient to be PRODUCTIVE, rather than a liability.
  5. As we find, this would be preferable to attempting to shoot same, owing to the conditions as to faults, as well as to the character of the sands.
  6. We find that there may be found - at a somewhat greater depth, to the thirty-nine to forty-two hundred (3900 to 4200) feet - the larger pools. Hence operations in the approximate same territory, and for these causes also, are to be considered - as to conservation of production; and the reason why it would be better not to shoot the PRESENT sands that show production.
  7. Ready for questions.
  8. (Q) Can this well be profitably drilled to a lower level and, if so, exactly how many feet below the present depth?
    (A) As we find, as indicated, this may be productive sufficient for a commercially valuable well, by the use of the acid process in the present sands; and this is preferable to shooting or to drilling the present well to greater depths.
    The greater depths are in the approximate vicinity but a little more to the south and to the east, or south and east.
    These as we find offer the greater opportunities for making of this a commercially valuable field, and in the greater depths greater quantity of gas - as has been indicated - would be the more valuable for its use as has been indicated.
  9. (Q) Any other comments in connection with this particular well or the further developments of the property?
    (A) None other than these as indicated: First the acid process not only as a proof of making a commercially valuable field but then the greater depths for the greater quantities of oil and gas.
    The character of the formations as we find will not vary a great deal from those that have been encountered in the latter portion of the present operations, save more of sand and of a heavier character sand, before that as might be called the cap or the producing area.
  10. We are through for the present.

    Copy to Self
    Copy to Ass'n file

BACKGROUND

  1. 11/26/37 He obtained Business Rdg. 261-29, on his health and also on Michigan oil and gas lands.
  2. 3/01/38 He submitted further questions.

REPORTS

  1. 3/23/38 He wrote: "In the two readings on the oil property there appears to be a discrepancy which I wonder if at a convenient time you would try and straighten out for me. In the reading of November 26, 1937 it was stated that the greater quantity of oil was located between 300 and 400 feet below the present production level which is approximately 2,100 feet. This would mean between 2,400 and 2,500 feet should be the proper depth.
    "In the reading of March 14, 1938, it was stated that the larger pools were from 3,900 to 4,200 feet or substantially lower than was indicated in the November reading.
    "It has been decided not to attempt to carry the well about which I inquired in the March 14th reading to a lower level. This is in accordance with the recommendation in the reading. We have, however, started drilling a new well approximately 600 feet south or southwest of the last producing well and naturally are anxious to know how deep this well should be drilled. Obviously there is quite a difference between 2,500 and 4,000 feet."
  2. 4/16/38 EC gave Rdg. 261-31 attempting to clarify above questions.

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