Edgar Cayce Readings, 401-1

Time and Place: 4:00 to 4:20 P. M. Eastern Standard Time. ..., N.C.

TEXT

GC: You will have before you the body and enquiring mind of [401], at ..., N.C., in regard to her 440 acres of land situated in the county of Petroleum, 8 miles from Winnett, state of Montana, Township 14 N., Range 28 E. You will advise if oil and gas in paying quantities may be located on this land. If so, where; giving exact location, depth at which production may be found, the quantity that may be expected, etc. You will answer the questions which she has submitted, as I ask them:
EC: Yes, we have the property in Montana, Petroleum County, near Winnett; and the enquiring mind of [401].
In considering the conditions that surround the property here, as we find - and as given through the many geological reports, all indications are for the production of oil and gas in paying quantities. While the operations about this property so far have only shown indications, but all these indications also are conducive to the belief that oil and gas will be found in paying quantities.
As we find, the lands that are held by [401] are the key to the pool that may be located in this territory.
The depth and the character of the stratum is such that it will require the standard tools in the drilling; and the depth is such that it would require that this be conducted in a manner as to expect - to to care for - large production.
As we find, the better quantities (though these may be found in paying quantities at a less depth) or the larger productions would be found near twenty-eight hundred to thirty-two hundred (2800 to 3200) feet; which would bring the larger productions of from twenty to thirty THOUSAND (20,000 to 30,0000) barrels per twenty-four (24) hours.
When conditions are considered as a whole, the leasing of the property to those that are only using same for those purposes of starting or HOLDING the lands without the actual production being carried into actual operations, would be out of the question for the body to consider.
The price of production that exists in the present does not permit speculative interests seeking for new fields, other than that they may be held in abeyance until conditions are changed as in relation to such production.
Then, as long as the body [401] holds the land in fee simple rights, we would not consider leasing to those that are even PRETENDING to or that are actually operating in this vicinity!
This would not prevent tests being made in the territory, and production drawn off would not hamper or hinder the GREATER production and the greater activity in this particular portion of the territory.
We would, then, hold as it is - with the whole rights of oil and gas.
Also we would continue with the holdings of those portions of this particular territory that have been contracted for, to buy in the fee simple rights.
That block which is separated by the highway may be used as the means of paying the price agreed upon for the remainder of the acreage. THIS would leave, then, four hundred and ten to four hundred twelve and a half (410 to 412 1/2) acres in the one block. This, with oil that may be produced on the property, should be worth many millions of dollars to the holder.
Ready for questions.
(Q) What should I do at the present time to get some money out of this land?
(A) As given, the forty acres across the road may be used as a sale; for it is the better FARMING land. Or, if there is the insistence from the speculative interests with the operations in the territory, then make the offer to lease at $10 per acre, RETAINING the eighth interest in the whole acreage.
(Q) Then, I should not consider the offer of Mr. Henry Kistner?
(A) Not under the present situations generally, nor the individual personally, nor the general situations over the country.
(Q) Is there anyone else to whom I could lease it besides Mr. Kistner?
(A) If there are those operations to produce oil, that would cause the opening of the territory, then it may be leased at $10, $20 to $40, to $50, to $100 an acre, still retaining the eighth royalty rights; for this will be considered, and there will be those hunting for it!
RETAIN the situation, then, as it exists in the present; and SHOULD it become necessary, SELL the separate block to pay for the 200 acres that are contracted for, in the contract.
(Q) Regarding the mortgage to Mrs. Mary Olson, should I continue -
(A) (Interrupting) This has just been given. Should situations arise that would require immediate funds (though the mortgage as yet is not due for nearly nine months), THEN sell this block (for it's only $2500!).
(Q) Are there any prospects for development in this immediate vicinity in the near future?
(A) As given, as we find, only to satisfy the operators of the presence of the oil in paying quantities.
(Q) Is there any other advice that would be helpful to me at this time?
(A) There might be a great deal! This as we have given would be the better in respect to this particular property.
We are through for the present.
Copy to Self
Copy to File

BACKGROUND

8/31/33 Mrs. [401]'s letter: "Through my friend Mrs. Sallie M. Boettcher I have come in touch with your work. I have read your Bulletin carefully and I am deeply impressed. I have been studying on the line of your teaching several yrs. All of it is founded on absolute truth. Mrs. Boettcher and I have planned to visit you real soon for the purpose of becoming an Active Member and getting a business and physical, rdg.
"Mrs. Boettcher has just come in and has planned a trip for us to visit you Sunday. Pray for us."

REPORTS

9/09/33 "Your reading is splendid and I am glad God directed me to you through Mrs. Boettcher."
9/21/33 "I am interested in a Life Rdg. but do not have the price. I hope to have some day."
5/21/34 "You will see from the enclose that Mr. Kistner has abandoned the oil well. Just a water well Mr. Cornne says. I feel disappointed. I have not realized a cent from the land in yrs. Since I cannot sell it I hesitate to pay the additional $50.25 or second installment on taxes. What shall I do? I truly appreciate your wanting to help me."
5/23/34 EC's reply:
"I am just in receipt of yours of the 21st. Notice what Mr. Cornne says about Mr. Kistner's operations in the vicinity of Wimett. I am sure this must at the present time be somewhat discouraging to you, but the territory is evidently in the area where further explorations are going to be made some time in the near future. Just whether it will be in the next two or three years or not will depend, of course, upon how well the now producing territory holds up. This, of course, is a question, and individuals who own or who are contemplating holding on to the territory that is undeveloped will have to make the decisions themselves as to whether it is worth while or not, but I gather from Mr. Cornne's letter that possibly the acreage is able to take care of itself by the farming or grazing territory. Is this true? If it is, why it would be a very sensible thing to hold on. If it does not, and is of itself a constant drain, why, then it would be a different story entirely.
This, of course, I do not know, and I wouldn't know how to advise you about it, but I am very sure that the time will come - how soon is, of course, a question, but the territory will be explored again and if it is of course the acreage will be very much worth while.
I would like to hear from you from time to time about this and as to what your decision is, and know that if at any time I can be of a service in suggestions in any way I will be only too glad to do so.
With kindest personal regards, I am" Sincerely,
[EC:MD]