The Daily Oklahoman from Oklahoma City, Oklahoma • 43

T1IK SUNDAY OKLAHOMAN Section September 17. 1978 17 I Costs, Risks Run High In Enhanced Recovery Market Tabbed As Undervalued mmraiG By Jim Held If you're planning to pnnsion in es rea Dfl TULSA The future of enhanced recovery is one of the biRRost un-certainlies in the U.S. petroleum industry, according to the Oil Gas Journal, The weekly trade magazine says costs are monstrous and risks arc high for enhanced recovery techniques which recover oil that can't be produced via conventional means or watcrflood-ing. Compounding the problem are the long lead times and corresponding expenditures required in nearly every enhanced-recovery project as producers try to choose the most efficient recovery method for each reservoir. But industry is moving as fast as technology and money allow in seeking ways to make enhanced recovery work, the Journal says.

The potential reward largely is a function of crude oil prices and project costs. According to studies by the National Petroleum Council and the U.S. Office of Technology Assessment, potential enhanced-recovery production ranges from 1 billion to 3 billion barrels at a price of $5 a barrel, and from 25 billion to 42 billion barrels at a price of $22 a barrel, both in 1976 dollars. Present enhanced re- Sept II 0n(e From Aut 14 Sepl 1978 Previoot Week 1978 1977 Alabama 16 13 13 Alaska 14 15 18 Arkansas 13 -3 16 16 Arifona 1 -10 California-Land 84 3 86 82 California -Total 91 2 93 90 Colorado 41 45 46 Florida 6 6 7 Idaho 3131 Illinois 38 2 41 14 Indiana 6 2 6 4 Kansas 74 -1 79 74 Kentucky 2 5 2 Louisiana -Offshore 125 -3 125 126 Louisiana-Iolal 364 -3 360 311 Maryland 1 -11 Michigan 23 -1 26 24 Mississippi 41 4 42 43 Montana 35 1 25 23 Nebraska 10 7 5 Nevada 1 -12 New Mexico 77 -5 80 70 New York 10 -99 North Dakota 50 2 46 33 Ohio 45 -4 49 35 Oklahoma 257 -2 258 247 Oregon 1 1 1 Pennsylvania 25 1 23 18 Rhode Island-Offshore 6 -60 South Dakota 1 -14 Texas-Offshore 56 6 54 39 Texas-Total 878 15 869 793 Utah 33 32 26 West Virginia 29 -2 34 23 Wyoming 133 -9 132 122 Total-United States 2335 -2 2326 2077 Western Canada 323 24 315 201 buy stock, now is the best lime to do it, an executive of the nation's serond largest brokerage firm said in an Oklahoma City interview last week. Tom Witter, executive vice president of Dean Witter Reynolds said some stock is selling currently below-book value and there are signs that prices are going to go up.

"Maybe 1 am perpetually optimistic," said Witter, "but over the long run I look for the market to move higher. "Right now. though, the stock market is undervalued in relation to other kinds of investments, as evidenced by the Dow Jones averag and we're glad to be a part of it." He said he was proud of his company's role in the Grand River Dam Authority's expansion program. The brokerage firm served as underwriter last year for a $-121 million bond issue to finance construction of GRDA's coal-fired electric generating plant. Wiiter said his father, Jean Witter, was one of the founders of Dean Witter Co.

in 1924 in San Francisco. "We're one of the few brokerages to start in the west and work our way east," he said. "Usually, they start in the east, particularly in New York City, and work their way west." A few years ago the company merged with Reynolds Securities International Inc. and it now has offices in all but four states. Witters brother, William M.

Witter, is chief executive officer of the brokerage's parent company, Dean Wiiter Reynolds Organizaiion which also owns an insurance company in Salt Lake City, Utah. A weekly column prepared by The Oklahoman and Times Display Advertising Department for the Wholesale and Retail Trade in Oklahoma. KRAFT FALL CHEESE FESTIVAL Kraft has scheduled a 1,300 line ad to appear in The Oklahoman and Times Septem-i. ber 21. The ad will featureDElpTjjN money-saving coupons onjf "hmmchihi several Kraft Cheese prod- ea ucts.

Be sure you have plenty of these fine Kraft products in stock. For orders and information, contact Paul Butler, of Kraft. RAGU SPAGHETTI SA UCE Ragu has scheduled a 399 line ad to appear in The Oklahoman and Times the next two weeks. The ad will feature a "cents off" coupon on a jar of Ragu Classic Combinations Spaghetti Sauce. Each Classic Combination has its own special combination of delicious Italian style ingredients.

Your customers can choose Sausage flavor and Peppers. Mushrooms and Onions, and Onions and Peppers all blended with ripe tomatoes. Romano cheese, and delicate herbs and spices. Be sure you have plenty of Ragu in stock. For orders and information, contact Bud Canada, of W.J.

Jones Company. BIG RED CHEWING GUM Wrigley's has scheduled a 600 line ad to appear in The Oklahoman and Times September 21. The ad will feature a money-saving coupon which your customers can use in either of two ways. They can save on a Plen Pak or on a 6 Pack or 10 Pak. The clean taste of Big Red Gum makes your mouth feel great.

Be sure you have plenty of Wrigley's Big Red Chewing Gum in stock. For orders and information, contact your local representative. LEVER BROTHERS PRODUCTS Lever Bros, has scheduled a 1.000 line ad to appear in The Oklahoman and Times September 21. The ad will feature four money-saving coupons on Lever Bros, products. Your cus Domestic drillinR activity took a slight dip last week but the number of active rotary rigs was still 12 percent above the number last year at this lime.

Oklahoma's total of 257 was two helow the previous week's but 10 ahead of ne total a year ago. Offshore, there were 197 rigs operating, two more than the week before and 11 more than a year ago. He said August was one of the stock market's best months in a long time. Witter, who is branch administrator for the San Francisco-based brokerage firm, was in Oklahoma City to pay his first visit to the local branch office. He said his firm has 20 offices in the southwest region, which includes Oklahoma, Texas, New Mexico and Arizona.

The Oklahoma City office was established three years ago, as was the Tulsa office, which also functions as a municipal finance office. "We're relatively new in this area," Witter said. "We anticipate great growth and ex- CALCULATORS BILL JACKSON BUSINESS PRODUCTS 235-2140 covery production is limited. According to a Journal survey last spring, enhanced oil production averaged 373,000 barrels a day from 196 projects. Total U.S.

production is 8.6 million barrels a day. An estimated 260,000 barrels a day of production in the Journal survey came from 115 thermal-recovery projects, which include combustion, steam-soak and steam-drive floods. But most producers believe the future of enhanced recovery depends on development of chemical and gas methods, the Journal says. And most agree it will be at least the late 1980s before the country sees significant additional crude production from enhanced-recovery methods. Cost projections show why, the Journal says.

One major oil firm estimates that the higher production rates projected in most studies would require about 160,000 new wells between 1980 and 1985 at a cost of $26 billion. That doesn't include well servicing, pipelines and construction at other facilities. Another study estimates that development of 30.5 billion barrels of enhanced oil would require $150 billion of capital, mostly for chemicals and other injected materials. The U.S. Department of Energy is helping prove out methods.

During the first quarter of 1978, the department through its cost-sharing program was aiding 22 projects, including mtscellar-po-lymer and carbon dioxide floods, improved waterfloods and thermal recovery. Industry was funding $192.2 million of the costs of those projects, the department $65.6 million. Producers say their biggest need is higher prices for the crude they produce. New rules by the Economic Regulatory Administration which free incremental enhanced production from price controls will do little or nothing to increase en ha need-recovery projects, they say. One company characterizes the administration's incentives as "too small and too late." Industry sources tell the Journal they need decontrol of the price of all oil from an enhanced-recovery project, not -just the oil produced beyond what would have been produced through conventional means.

One company told a Senate hearing on enhanced-recovery incentives in July that "under current domestic oil-price policy, except for a small amount of thermal oil, essentially no enhanced-recovery oil will ever be produced." Improved Image Goal of Union The United Rubber Workers Union (AFL-CIO) has embarked on an advertising campaign in the Oklahoma City area to improve its image. "We feel like labor needs to tell its story," said Kurt Brown, public relations director at the union's Akron, Ohio, headquarters. "The image of labor in Oklahoma is not as good as it could be." He said the union began its newspaper and radio advertising in August and will continue it until early November. It is not part of a national ad campaign. Brown insists that the advertisements have nothing to do with any future attempt by the union to organize the Dayton Tire Rubber Co.

plant here. "What we're doing now is for the general public and not just for the workers at Davton Tire," he said. "This is the first time we've done this sort of thing." The ads are running in The Daily Oklahoman and the Oklahoma Citv Times and on radio stations KATT (AM FM). KEBC and KAEZ. Brown said the union is not advertising in any other areas of the United States.

Gary Myers, one of two URW field representatives in Oklahoma City, said the advertising campaign is "just educational and promotional." He said there are no immediate plans to organize the Dayton tire plant here. Since the plant at SW 29 and Council Road went into operation in 1969, the union has made five unsuccessful attempts at unionization of workers. The last election conducted by the National Labor Relations Board was in November of 1976. About 1,000 of the workers at the plant are eligible for union membership. Ineligible are guards, office personnel and maintenance workers who are members of the Operating Engineers Union.

Inflation Hits Suit Business CLASSads 235-6722 Weyerhauser Dies at Home tomers can save on 1-lb. Imperial Margarine, on any size Wisk laundry detergent, on any size Final Touch fabric softener, and on two bars any What kind of man Invests $3,640. In January, and receives $20,294. by July? A man who invests with us in commodities. fa size uove.

kius, the ad will include a maii-in offer for a free oz. bottle of Vivara perfume with three proofs of purchase from any three of the iour participating brands. Be sure you have plenty of these Lever Bros, products in stock, so that your customers can take advantage of this free offer. For orders and information, contact Fred Hahn, of Lever Bros. SEA PAK SHRIMP TV BATTER Sea Pak has scheduled a 600 line ad to appear in The Oklahoman and Times September 21.

The ad will feature a "cents off" coupon on two 8-oz. or one 1-lb. package of Sea Pak Shrimp 'n Batter (Round or Fantail Styles). Just heat and serve. In minutes your customers will be serving tender diced shrimp, covered with a light, crisp golden batter.

Shrimp 'n Baiter makes main meals a snap, and snacks a breeze. For orders and information, contact Al Shambour of Al Shambour Associates. KOOL-AID For example, one ol our Boston clients, following our advice, invested $8.700., and. in 6 months, earned $41,042.20. a gross profit ot 472.

Another client invested $5,040 and earned $14,865.90 In just 6 months. Ol course, not everybody lares as woll. But more and more prudent in er and vice president. He became chairman oi the board in 1955 and president in 1956. He served as president of the company until 1960, when he returned to being chairman of the board.

He retired in 1966. Weyerhaeuser was a national director of the Boys' Clubs of America, a member of the National Park Foundation. He was named the National Big Brother of the Year in 1966. He is survived by his wife, Vivian O'Gara Weyerhaeuser, and two daughters, Vivian Pi-asecki of Haverford, and Lynn Day of Grosse Point, Mich. Funeral services have not boon set.

vestors are trading commodities because there is unlimited profit potential with a limltod risk! Precious Metals Associates is one of the most respected full service licensed brokerage firms in the country, with profit opportunities available in gold, silver, copper, zinc, lead, coffee and cocoa. If like to know about the investment advantages of commodity trading, simply fill out the coupon and mail it today' ST. PAUL, Minn. (AP) Frederick K. Weyerhaeuser, former president and chairman of the Weyerhaeuser died Saturday at his home.

He was 83. Weyerhaeuser, the first grandson of the founder of the Weyerhaeuser lumber empire, spent most of his life in the lumber industry. In 1946, he was elected a director of the Weyerhaeuser and later served as treasur- Workshop Set By Appraisers TULSA A two-day income capitalization workshop, sponsored by the Oklahoma chapter of the American Institute of Real Estate Appraisers, will be held Thursday and Friday at the Williams Plaza. There will be discussions on simplified formulas for the analysis of overall rates from the market and valuation of patterned income streams; discounted cash (low and base discounting: mortgage equity analysis, and simplified after-lax cash flow analysis. The registration fee is $100.

General Foods has scheduled a 996 line ad to appear in The Oklahoman and Times September 21. The ad will feature a "cents off" coupon on 12 envelopes Unsweetened Kool-Aid. 2 envelopes Sugar-Sweetened Kool-Aid, or 1 Perhaps you II be one of our next successful invostors. commodities 133 Federal Street. Boslon.

Massachusetts02110 617)338-2l00or (800) 225-2486 CONCRETE BUILDINGS by SPEED FAB-CRETE QUOTED CONSTRUCTED TURN-KEY OR SHELL YOU GET HIGH QUALITY LOW COST For Manufacturing Warehousing -Ratilling Ortic CALL (405) 427-6686 SPEED FAB-CRETE 2107 NE 10 OKC lS Pfoaso sonrj mo your tree Booklet on Commodity Trading I Ptcasc send mc your latest "Buy" roconmondations For your bonolit. plcaso or type all information clearly. Namo I Addioss I City Slate Zip Business Phono canister Sugar-Sweetened And your customers can get a free ticket to the Kool-Aid Circus when they trade in 6 Kool-Aid brand Soft Drink Mix envelopes or one canister label. Be sure you have plenty of Kool-Aid. in stock.

For orders and information, contact your local representative. NO BUGS M'LADY Paper Products. has scheduled a 600 line ad to appear in The Oklahoman and Times. The ad will feature a mail-in coupon good for a refund when your customers send the red panels from the front of two rolls, either 13 in. or 18 in.

width, of No Bugs M'Lady Shelf Drawer Paper. No Bugs WLady kills ants. When American men start belt-tightening, the odds are long that they are doing it on a suit costing well under S400. For with today's level of inflation, few middle-income consumers can afford to buy a $400 suit, long considered the "Cadillac" of men's clothing. Increasingly, stores have substituted suits selling at $100 to J200 less than the $400 number as their top-of-the-line model with many of the substitutes imported and the impact of those moves has been heavy on producers of men's wear in this country.

But the picture is not totally bleak. Affluent customers with large disposable Incomes can absorb ever-rising prices, and they are still buying not just $400 suits but even those costing $600 and more. Nevertheless, some of the exclusive specialty stores where these men shop acknowledge that they arc studying a cockroaches, and silverfish. Be sure you have Your bank for both cards. plenty ol No Bugs Lady in stock, so that your customers can take advantage of this refund offer.

Contact Jack Hudson, of Jim McMannis Associates, for orders and information. TONE SOAP change in the merchandise mixture to include less expensive suits. "At the Cadillac level the Hickey Freeman and the Oxford suits and at the truly custom-made level, sales haven't been hit as-hard by price pressures," said Don DeBolt, executive director of the Menswear Retailers of America, a Washington, D.C.-based trade association of 4,000 storeowners. "Business is holding up in them, but there is no explosive sales trend," he continued. "The business that may have been hurt most is that which includes men's suits selling for $275 to $375, sold basically in specialty stores and in many department stores," DeBold said.

"The lower range of $100 to $175, which many retailers are now promoting, is the best movement in unit sales." Now York Tumu Petroleum Unit Names Speaker W. John Lee, professor of petroleum engineering at Texas will speak at a meeting of the Oklahoma City section of the Society of Petroleum Engineers at 5:30 p.m. Thursday at the Heritage House, 3900 NW 63. Dr. Leo will discuss "Pressure Testing in Tight Gas Reservoirs." He joined the Texas faculty in 1977 after being a technical advisor for Exxon U.S.A.

4 Armour-Dial has scheduled an 800 line ad to appear in The Oklahoman and Times Septem Der d. i his ad will teature an offer enabling your customers to buy two. bars of Tone Soap and get a third bar of the i same size free. Tone Soap AT SOONER SIX MONTHS NOW EARNS 8.289 'jnnual effective yield, subeel to cttjuge at mnul ON THIS WEEK'S RATE OF 8.043 The Sooner Federal Quarter Percent More Money Market Certificate lets you invest a minimum of $10,000 for 182 days. (There is a substantial penalty for early withdrawal.) For more information, contact any Sooner Federal financial counselor at any of our convenient statewide branches.

nas moisturizers with coco? 'na can help "Tone IJW )up" dry-feeling skin. Be sure --Jy you have plenty in stock for your customers. For orders and information. contact Carl Wheeler of Carl Wheeler Broker VISA age- KELLOGG'S MINI-WHEATS Kellogg's has scheduled a 600 Firm Adds New Staff Member John Powell, who has been with First National Bank Trust Co. for 18 years, has joined the commercial real estate firm of Ncal El-dridgc Co.

with offices in the Citizens Tower. Powell formerly was in charge of national accounts for the bank, was personnel manager and more recently directed operations of the Arcade bank in the Na-ticnal Center. line ad to appear in The Oklahoman and Times September 21. The ad will feature a "cents off" coupon on your customers' next purchase of Kellogg's Mini-Wheats cereals. Your customers can The Bank of Excellence choose Sugar Frosted, Toasted, or Brown Sua oner Fidelity BankN ar-Cinnamon.

Kellogg's will get your customers off on a delicious smart-start breakfast. Be Federal Savings and Loan fo-wi wm'j sure you have plenty of Kellogg's Mini-Wheats Robinson at Robert S. Kerr Oklahoma City a Member F.D.I.C. in stock, f-or orders and inlormation, contact EFFECTIVE THROUGH SEPTEMBER 20th Cecil Hewitt, of Kellogg's..