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By Run Huang, Xuewei Lv, Songli Liu, Chenguang Bai

"Titanium alloy was prepared from titania-bearing blast furnace slag (Ti-BF slag) by aluminothermic process in an induction furnace. The effects of aluminum amount on the titanium silicon yield and titanium recovery ratio were studied. The phase transformation and chemical composition of the prepared alloy were investigated by X-ray diffractometry (XRD) and X-ray fluorescence (XRF) respectively. It was found that the mass fraction of silicon and aluminum increased with increasing the aluminum amount, however, the mass fraction of titanium increased first and then decreased with increasing the aluminum amount. Furthermore, both the titanium alloy yield and titanium recovery ratio increased with the increase of aluminum amount. The main phases of the alloy were TixSiy and AlTi3. The titanium alloy samples prepared in various conditions had a composition (wt.%): 38–50% Ti, 29-34% Si, 4-11 Al%, 1.6-2.2 Mn%.IntroductionPanzhihua and Xichang regions in the southwest of China are rich in vanadium-titanium magnetite containing iron, vanadium, titanium and gangue. According to the characteristics of the resource, iron and vanadium are successfully recovered with a blast furnace process and a converter process. However, most content of titanium are entered in the blast furnace slag with TiO2 22% -26% and metallic Fe 2%–6% called Ti-BF slag. Due to the dispersed distribution of Ti in various fine grained mineral phases with a complex combination between Ca, Al and Si, it is difficult to recover the Ti components[1]. This slag is generated at a current rate of 3.6 million tons per year, which adds to the existing 70 million tons of slag produced so far[2]. The slag has had to be piled as large as the mountains, which not only waste of resources but also cause a pollution of the environment. Therefore, the study of integrated utilizing Ti-BF slag has become very significant."

Jan 1, 2012

By Louis W. Cope

Mongolia is known in western countries as the location of rich dinosaur fossil fields. However, the country is even richer in mineral resources. The Ministry of Industry and Trade reports 6,000 mineral occurrences of 80 metals and minerals. Mongolia has already attracted much foreign investment in the mining sector. Mining is the country’s largest industry. It is responsible for 17 percent of the gross domestic product, 65 percent of industrial output and 57 percent of export earnings.

Jan 1, 2006

By David A. Lipton

In 1983, U.S. Bureau of Mines personnel examined mines, prospects, and mineralized areas to determine the mineral resources in the Carrizo Gorge Wilderness Study Area (WSA). The 14,571-acre WSA, located 42 miles east of El Centro, CA, is underlain primarily by Mesozoic granitic rocks and pre-Cretaceous metasedimentary rocks. Six prospects were found within the WSA and two mines are adjacent to it. Mineral deposits within the WSA have had insufficient development and rock exposures for calculating resources. The WSA contains no identified mineral resources; however, further exploration may disclose gem quality minerals. Two mines adjacent to the WSA, the Pack Rat and Beebe Hole, have produced gem quality kunzite and aquamarine from pegmatite dikes. According to the owners, a significant amount of gem minerals have been mined here in the last decade. Based on past production and the characteristic minerals indicating gem-bearing pockets, additional pockets are likely. Similar pegmatite dikes occur from Mt. Tule to Carrizo Gorge and may contain gem-bearing pockets. Pegmatite dikes also occur in the WSA near Rockhouse Canyon, but contained few of the mineral associations indicative of gem-bearing pockets. Manganese occurrences north of the Beebe Hole and Packrat Mines and within the WSA contain low concentrations of manganese. Significant sand and gravel were not identified. There is no evidence of deposits of oil and gas, or geothermal energy.

Jan 1, 1985

By Michael Moats, Adirek Janwong

The use of cylinder electrowinning cells, such as emew® technology, for the recovery of silver from primary and secondary sources has been growing. In this study, common operating parameters used in silver electrowinning were evaluated for recycling applications. Silver powders were produced from an industrial solution in a laboratory scale emew® cell. A design of experiments was employed to evaluate the effects of HNO3 concentration, iron concentration, current density and solution flow rate on current efficiency, particle size, bulk density, and crystallographic orientation. Current efficiency was affected by each parameter with increasing HNO3 concentration having a strong negative effect, increasing iron concentration and current density having moderate negative effects and increasing flow rate having a positive effect over the ranges examined. Finer particles were produced with increasing current density and decreasing flow rate. Bulk density increased when HNO3 concentration increased. The crystallographic orientation of all powders was dominated by the (111) plane. Increasing flow rate decreased the relative intensity of (200) direction. Based on these observations, silver electrowinning in cylindrical cells can operate at high current efficiency and produce larger powders at low HNO3 concentration, low iron concentration, low current density and high flow rate.

Jan 1, 2014

By D. Harrington

Although the explosion-fatality record for the fiscal year 1944 showed considerable improvement over those of the preceding 4 years, it is still fur from creditable, and the coal-mining industry and agencies interested in the prevention of coal-mine accidents should not be satisfied until accidents from explosions and fires are eliminated. In view of present knowledge of the methods of preventing explosions and fires, such disasters are inexcusable and discredit the mining industry. Despite this knowledge, far too many coal¬mine operators and employees continue to follow procedures that have resulted in disasters in the past. Included in the appendix to this circular are a number of safety measures designed to prevent coal-mine explosions and fires and metal-mine fires. Their adoption is essential if explosions and fires are to be prevented, as certainly they should be. An epidemic of disastrous mine fires of electrical origin during the past 2 years emphasizes the need for better methods of protection of underground electrical circuits. At present, committees of mining-electrical engineers, electrical-equipment manufacturers' representatives, and others are cooperating with the Bureau of Mines seeking means to solve this problem.

Jan 1, 1945

The Effect of Mineral Liberation on the Floatabilities of Pyrite, Arsenopyrite and Arsenian Pyrite for Carlin Trend Ores

Sep 13, 2010

The spatial and temporal evolution from the porphyry to high-sulphidation epithermal environment can be assessed by integrating new results on such deposits (Arribas et al, 1995; Hedenquist et al, 1998) with past studies of plutonic and porphyry systems (Dilles and Proffett, 1995; Cline, 1995; Shinohara and Hedenquist, 1997; Hedenquist and Richards, 1998). Some time ago, Sillitoe (1973) argued for the nature of the tops and bottoms of porphyry deposits. He concluded that epithermal deposits may form over the tops of some porphyry systems. We can now conclude more confidently what the tops and bottoms of many high-sulphidation ore deposits appeared like while active (Arribas, 1995; Hedenquist, 1995). In addition, we better understand the nature of the zonation of high-sulphidation epithermal systems from the intrusive to surficial environment (Sillitoe, 1999), and how these two styles of ore deposit are related. Geological and geochemical evidence clearly indicates a continuum between these two ore environments. This improved understanding of genesis allows more efficient exploration for these deposits. There are many examples of spatially associated porphyry and epithermal ore deposits. A genetic connection has been suggested by some, and argued against by others. Nowhere is this spatial association better seen than in northern Luzon, Philippines, where the Lepanto high-sulphidation epithermal Cu-Au deposit overlies the Far Southeast (FSE) porphyry Cu-Au resource (Figure 1). Together these mineralised bodies contain a resource of >3.8 M tonnes Cu and >550 tonnes Au. Lepanto was largely mined out in early-1997. Post-war production until 1995 was 0.73 Mt Cu, 115 t Au and 393 t Ag at an average grade of 2.2 per cent Cu, 3.5 g/t Au and 11 g/t Ag. The recent discovery of the adjacent Victoria low-sulphidation quartz-Au-base metal vein deposit, with a resource of >68 tonnes Au (Cuison et al, 1998), illustrates the variety and abundance of mineralisation in the Mankayan district. This district also hosts the Guinaoang porphyry Cu-Au deposit (Sillitoe and Angeles, 1985) and other epithermal vein occurrences (Figure 1). This brief summary reviews the results recently published on the Lepanto-FSE deposits (Arribas et al, 1995; Mancano and Campbell, 1995; Claveria, 1998; Hedenquist et al, 1998), and stresses the evidence for coupling of mineralisation between the porphyry and high-sulphidation epithermal environments.

Jan 1, 1999

By S Q. Zhao, J H. Wei, Z X Zhao, S N. Liang

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The degree of regional denudation is one of the most important factors for judging the preservation potential of ore deposits as it can be used in a predictive manner to help guide exploration. There are many methods available to judge the denudation degrees of mineral deposits. These include regional geochemical assessment methods, the characterisation of primary lithogeochemical halos, the thermoelectricity of pyrite and apatite fission-track methods. Each method has its specific principles, application scopes, limitations and successful cases. Based on previous studies, this paper discusses the research progress on assessments of ore deposit denudation in China and provides a summary and discussion of various methods that can be employed.CITATION:Liang, S N, Wei, J H, Zhao, Z X and Zhao, S Q, 2015. Review on the ore deposit denudation degree, in Proceedings PACRIM 2015 Congress, pp 65–68 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

The morning session opened at 9:00 a.m. and was presided over by Mr. Don Ross, Manager of Mines, Kaiser Steel Corporation,- Sunnyside, Utah. The first speaker was Mr. S. W. Zanolli, Partner in Law Firm of Webster and Kilcullen, Washington, D.C. Mr. Zanolli was born and raised in a coal mining community of Fredericktown, Washington County, Pennsylvania. He was educated at Washington and Jefferson College and graduate schools of the University of Pittsburgh. He served as an infantry officer in the European Theatre of operations during World War 11. He worked as' a handloader at Vesta No. 5 Mine of Jones & Laughlin during summers while attending Washington and Jefferson College. He worked at a variety of production jobs at No. 7 Mine. of Island Creek Coal Co. of Holden, West Virginia. Assigned to a variety of industrial relations assignments at Island Creek Coal' Company during 1949-51, attaining position of Supervisor of Personnel and Labor Relations. Served in many industrial relations assignments at U.S. Steel Corp. headquarters during 1953.-1967, attaining a position of Personnel Director-Heavy Products Operations. In January, 1968" he became a member of the Bituminous Coal Operators Association-as Executive Vice President. This past year he went back to practicing law and is a member of the Law Firm of Webster and Kilcullen, Washington, D.C. He is married and has five children.

Jan 1, 1973

In attempting the predict coal cleat orientation in the subsurface for effective methane degasification of the coal beds in the Warrior coal field of Alabama, approximately 150 rock joint orientations and 45 coal cleat orientations were measured in each of 37 7 ½ minute quadrangles in Tuscaloosa, Walker, Jefferson, Fayette, Winston, Blount, and Bibb Counties. Data from these surface locations, and coal cleat data from eight underground mines was corrected for magnetic declination and titled beds rotated to the horizontal where necessary and plotted on rose diagrams for comparative analysis. Data collected on each joint and cleat consisted of attitude, quality, type, spacing, persistence, lithology, bedding thickness, surface texture, and filling. File data and published and unpublished reports from the State Survey and the State Mine Inspector's Office were re-viewed. Twenty-seven mining companies, most of which supplied information pertinant to the project were also contacted. The information obtained consisted of crop line information structure, and underground mine outlines, all of which were put on 7 ½ -minute topographic quadrangles. LANDSAT-1 imagery and Skylab photography were compared to dominant joint and cleat trends in the study area. Detailed results can be found in an open-file report entitled "Fracture Analyses in a Selected Area of the Warrior Coal Field, Alabama." A master's thesis entitled "The Relationship Between Surface Joints and Subsurface Structure in a Selected Area of the Warrior Coal Field" is being prepared to illustrate the relation-ship of the fracture system to the structure in the Warrior coal field. A proposal has been submitted for research on a project entitled "Rock Fracture Systems and Their Affects on the Extraction of Fossil Fuels in the Warrior Basin, Alabama"

Jan 1, 1976

By S Piercey, M Doublier, B Eglington, D L. Huston, S Pehrsson

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The distribution of volcanic-hosted massive sulfide deposits through time is episodic, involving relatively short time intervals of apparent high productivity and long intervals of low productivity. This distribution is principally related to the geodynamic evolution of the Earth. The vast majority of these deposits is associated with the assembly of supercontinents and form along convergent margins, generally in back-arc basins or rifted arcs. This contrasts with the distribution of black smoker deposits, which presently form along both convergent margins, particularly in the western Pacific, and divergent margins at mid-ocean ridges. However, the latter environment is rarely preserved deep into the geological past.There also appear to be systematic patterns in a number of other features of volcanic-hosted massive deposits through time. Deposits hosted by mafic-dominated successions are dominant in Archean to Proterozoic rocks, whereas deposits hosted by felsic-dominated successions are most common in Phanerozoic rocks. Geochemical characteristics of felsic rocks within the host successions and ore lead and sulfur isotope data of the ores have also changed with time. This suggests changes in the process of subduction and/or changes in the characteristics of the over-riding plate with time, consistent with isotopic and geologic evidence for greater reworking of pre-existing crust during the Phanerozoic.Other secular changes that are reflected in characteristics of volcanic-hosted massive sulfide deposits include the redox state and salinity of coeval oceans. As an example, both the abundance of sulfate minerals and sulfur isotope patterns reflect the development of periods of anoxic conditions over time, with major intervals of anoxia reflected by a virtual lack or low abundance of sulfate minerals in volcanic-hosted massive sulfide deposits in the Mesoarchean to the Palaeoproterozoic, and shorter intervals since.CITATION:Huston, D L, Eglington, B, Pehrsson, S, Piercey, S and Doublier, M, 2015. Secular variations in the abundance and characteristics of volcanic-hosted massive sulfide deposits – implications for evolution of convergent tectonics and ocean geochemistry , in Proceedings PACRIM 2015 Congress, pp 475–480 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By A. R. T. Denues

"INTRODUCTION The orienting phases of the current investigation of cushioned blasting in the Explosives Division of the Bureau of Mines were indicated in a previous publication (5) 3/. Pertinent literature reviewed therein indicated a highly controversial field. This emphasized the need for experimental studies of many factors that affect the health and safety of miners and the efficiency of mining operations. Results of some orienting tests showed marked effects on practical hazards. Further, they emphasized the necessity and importance of the contemplated investigation. The scope and general plan of these practical inquiries into the safety of cushioned blasting were indicated.This investigation of cushioned blasting relates to the various means employed to reduce the intensity of application of energy from explosive actions in boreholes. It has been suggested (from p. 19 of reference 5) that the divisions of this work would correspond to the salient hazards affected by cushioned blasting. These include the ignition hazard, hazards from poisonous gases, and other practical hazards in the blasting technique. The ignition hazard was resolved into two components of approximately equal weight. These include studies of effects upon (1) the incendivity of blown-out shots and upon (2) the occurrence of such shots. Experimental studies of effects on the incendivity of blown-out shots were first undertaken. Questions of the best procedure for making these evaluations have been adduced, and the interpretation and utilization of the results of gallery testing seemed to require detailed attention; some preliminary general considerations of such testing were therefore necessary."

Jan 1, 1943

By Roderick Eggert, Dipesh Dipu

We look at the empirical evidence of coal block auctions in India to understand how competitive intensity affects the bid amounts in common value auctions. The results suggest that competitive intensity measured through the number of bidders for a coal block is instrumental in determining the bidding outcomes. The presence of higher numbers of bidders in the auction leads to higher bids - every additional bidder causes the bid amount to rise by INR 142.67 per tonne of coal for auctions studied for 127 coal blocks from 2014 to 2023. The paper also examines the moderating and mediating effect of competition on bids and on excess of bids from the comparative market price of coal from alternative source of Coal India Limited. The results indicate that competitive intensity does not have statistically significant impact on the relationship between common value of coal blocks and bids, neither as a moderator nor as a mediator. The strategic behavior of the bidders has also been observed as bidders have been seen to bid in a higher than market price in order to outbid the competitors.

Feb 1, 2025

By George Filz, Morales, Carlos, Bertero, Filippo Maria, Alessandro, Leoni

"The Deep Mixing Method (DMM) represents a viable solution to improve adverse geotechnical properties of foundation soils for many practical applications. A pre-construction soil investigation campaign is necessary to assess soil properties and to retrieve samples of different soil layers for a laboratory Bench Scale Testing program (BST). The BST has to be designed using various binder types, binder contents, and water/cement ratios in each of the soil types. Following the laboratory program, a full scale Field Test (FT) is typically necessary to verify the results of the BST. This paper will highlight the differences and the importance of performing both pre-construction laboratory tests and field tests to ascertain the proper mixing parameters in the different soil layers. Comparative analyses and interpretations between the lab and field stages, along with accumulated information about soil properties and quality control (QC) results, allow fine-tuning the production parameters throughout a project. Three Deep Mixing Method projects, where both laboratory and field tests were executed, are illustrated: (1) The LPV 111 Project (New Orleans, LA, USA): DMM was used for ground improvement/foundation strengthening to stabilize and support the burden of a new levee raise; (2) The Rio Puerto Nuevo Project (San Juan, PR, USA): DMM was applied to improve the soils adjacent to a 90"" forced sewer main relocation and to improve the soils for the base of a new drainage channel; and (3) State Road 83 (US 331) over Choctawhatchee Bay project (Walton County, FL, USA): DMM was applied to stabilize the causeway sections of the bridge enhancement project. Data recorded during laboratory and field tests for these projects were analyzed and interpreted to select the most appropriate construction parameters to provide a final high-quality product.INTRODUCTIONThe Deep Mixing Method (DMM) represents a viable solution to improve adverse geotechnical properties of foundation soils in many situations. The effectiveness of working parameters depends largely on the physical and mechanical properties of the soil to be treated. Therefore, well designed laboratory and field test programs, aimed to disclose the interaction between the site-specific soils and the mixing parameters, are essential to achieve the desired end product.Generally a pre-construction soil investigation campaign has to be performed to assess soil properties and to retrieve samples of different soil layers for the laboratory Bench Scale Testing programme (BST). The BST has to be designed using various binder types, binder contents (or cement factors - CF), and grout water/cement ratios (W/C) in each of the soil types; the selection of the different combinations and dosages for the BST is based on past extensive experiences on similar materials. Following the laboratory programme results, a full scale Field Test (FT) has to be designed and executed, installing several DMM elements to verify the results of the BST and fine tune the construction parameters, with the appropriate binder type and dosage and the most effective equipment and tool configuration."

Jan 1, 2015

The Effect of High Power Nanosecond Electromagnetic Pulses on Selectivity of Pyrite from Arsenopyrite

Sep 13, 2010

By J S-L Chan

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Cu-Ag-Au mineralisation at Kluwih prospect in Eastern Java, Indonesia is related to a high-sulfidation hydrothermal system within a volcanic dome (2.35 × 1.7 km diameter). The mineralisation occurs mainly in steeply dipping, structurally-controlled quartz-enargite-pyrite veins (several centimetres to 2 m wide) and is hosted mainly in porphyritic dacite, volcaniclastic rocks and volcanic breccia of the dome and in an underlying andesite that yielded a zircon U-Pb age of 11.5 Ma.Short wave infrared spectrometer analyses were carried out for alteration mapping at Kluwih. There are two main stages of alteration produced by the hydrothermal activity. The alteration mineral assemblages indicate an advanced argillic alteration. The Cu mineralisation occurred in the form of enargite and subordinate chalcopyrite with an intergrown texture in the early stage. These mineralised veins are characterised by narrow pyrophyllite ± diaspore and dickite selvages (metres wide) and a peripheral K-muscovite envelope (sericitic alteration) up to 100 m wide. The K-muscovite envelope is zoned outward to Na-muscovite or Na-illite. Late-stage kaolinite and smectite alteration overprints the porphyritic dacite and may obscure the nature of early mica-clay alteration. The spatial distribution of different alteration assemblages suggests that the temperature of hydrothermal fluid increases with depth.Both the high-sulfidation mineralisation and advanced argillic alteration are suggested to be related to magmatic-hydrothermal fluids, which are likely to originate from an undiscovered deeper porphyry Cu-Au system below the porphyritic dacite. Based on alteration mapping results and comparisons to similar deposits, the porphyry intrusion could be up to 500 m below the volcanic dome. Further geochemical and mineralogical studies may help to target the potential underlying porphyry system.CITATION:Chan, J S-L, 2015. High-sulfidation epithermal Cu-Ag-Au deposit, Kluwih, eastern Java, Indonesia – alteration and implications for potential porphyry cu mineralisation, in Proceedings PACRIM 2015 Congress, pp 213–218 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By Steve J. Czehura

The Butte quartz monzonite is the host rock for early porphyry copper style mineralization and subsequent mesothermal-epithermal, enargite-gold style veining that transects the district. The east-west Anaconda system veins sustained mining for over a century. They include the Emma, Anaconda-Original, Syndicate, Badger-State and Alice-Rainbow veins, each with strike lengths of more than 3,660-m (12,000-ft) and vertical continuity in excess of 1,370-m (4,500-ft) with mining widths from 1.5- to 15-m (5- to 50-ft). These characteristics are unique to Butte. The incredible dimensions and tenor of these veins have yet to be surpassed and Butte is still touted as being the “Richest Hill on Earth.” The Anaconda Company was formed in 1895 to develop underground copper reserves in the district. It eventually consolidated all operations under one company. Production from underground mining continued through the mid-1970s. Openpit mining in the Berkeley pit began in 1955 with the extraction of supergene ores, along with the remnants of deeper horsetail zones inaccessible to the underground mines.

Jan 1, 2006

Presiding was Robert E. Murray. The first speaker was Frank L. Natta, Administrative Manager-Trapper Mine, Utah International, Inc., Craig, Colorado. Subject - "Long Term Coal Contracts." Mr. Natta graduated in 1973 from Colorado School of Mines with a B.S. in Metalurgical Engineering and a M.S. in Mineral Economics. Since 1974, he has been employed by Utah International having spent 5 years in San Francisco as Senior Market Analyst. In this capacity he was responsible for market development efforts for Utah's U. S. coal reserves. Recently, he was transferred to Craig, Colorado, as Administrative Manager of Utah's Trapper Mine. In this position, he is responsible for purchasing, warehousing, accounting and sales contract administration. The second speaker was Brucks Mitchell, President, Human Resources Management, Inc. Richardson, Texas. Subject-"Making Unions Unnecessary in the Coal Industry." Mr. Mitchell has a B.A. degree in English-Oklahoma State University. M.B.A. degree in Organizational Behavior-Southern Methodist University. Ph.D Candidate - Organizational Behavior - North Texas State University. Mr. Mitchell formed an Association of Consultants to perform assignments in Industrial Psychology and Human Resources Management. Particular emphasis has been to establish policies and procedures to make labor unions unnecessary. He has been consultant to various industrial and municipal organizations.

Jan 1, 1979

By John C. Machisak

Employment and related injury experience of the coking industry in the United States for 1956 contained in this publication is summarized under three general sections: (A) General injury experience: Tables 1 to 9: Current and comparable statistics on operating data, number, frequency, and degree of severity of injuries and major accident agencies involved in the cause of injuries. Data are presented for the industry as a whole, for each type of oven, and for the States in which coke was produced. (B) Selected injury experience: Tables 10 to 15: Comparable injury data covering 5- and 10- year periods on the number and degree of severity of injuries and major accident causes.

Jan 1, 1958

By Wilfred P. Schmoe

Introduction An integrated oil company has two options in approaching strategic planning. It has to decide whether it is in business for the long-term. I state this in all seriousness. Those who help manage public companies have the responsibility of good stewardship of other people's money. We must decide whether continued investment in our basic business will generate a reasonable rate of return. With a world surplus of petroleum production capacity, and continuing downward pressure on prices, this question should be addressed by all oil companies. And a positive answer is not necessarily a foregone conclusion in all cases. The decision should be made based on proven competence in finding and developing petroleum reserves on a cost-competitive basis with other producers, and on a frank analysis of future prospects. This should include a realistic assessment of the projected rate of return on specific investment projects. If a company did not pass these tests, its strategy could take one of four paths. Diversification First, it could diversify. But recent history suggests that oil companies are not good at managing other businesses. Second, it could seek a buyer for its business at the optimum return for its owners. Third, it could sell its assets on a piecemeal basis. And, fourth, it could adopt a longer-range plan of self-liquidation by living off current recoverable reserves. In other words, by not investing in exploration and development, it could maximize short-term profit and pass the money back to shareholders in the form of dividends. The Conoco component of DuPont has a below-average cost of finding petroleum, a good track record of efficient production, and a full plate of projects that pass the test of return-on-investment. In short, Conoco is in business for the long-term. That fact, in itself, determines at least one key element in strategy. This is to extend the life of the petroleum reserve base while at the same time maintaining maximum efficient rates of production to provide a strong cash flow. A company that is able to maintain a strong reserve base will ultimately see the value of those reserves escalate as world oil supplies tighten. Our planners expect this tightening to occur within the next decade as demand grows and production in non-OPEC areas of the world begins to decline. An exploration program tailored to meet the requirements of reserve replacement and current production should have two basic parts. The first is relatively low-risk exploration in proven oil provinces. This is augmented by

Jan 6, 1985