Joseph E. Olsen George, Utah Dear Joe? I quiries as have to your what letter has of taken May 19%! place e made wi some the in- underground rights on property which we formerly owned in Box Elder County. It appears that Matt Browning, as trustee, had the right to sell all of the lands and all of the mineral rights had he so desired. On this particular piece of property he did sell with the property 25% of the rights to the first purchaser. He has, so I under+ & stand, He he sold another of Actually ‘ property and N the Thiokol re, sell all © in 50% the rights on this r the n most of the or a 16v0a al O surrounding this particular not know do to — = & acres (I the rights trust Company. of them if a ef piece 25% of to the Me ng could, accord 0} were so dispo the ; * of righ plot. exact size particular property £ the some 2500 of the land involved), 3,000 we do not have the rights on much of the land. We never did have them. They were retained by the owner from whom we bought the land in the first place. In the immediate vicinity a well was drilled several modern years well showings ago was which sunk proved to whatsoever. a It dry, and within the past month of over 7,000 feet with no oil interest will depth is doubtful if any be shown in the vieinity. Certainlywe as to drill a well. With the Thiokel Company particular and comparatively small part of complications the Thiokol work)would ground with the Company is be more from the as engaged highly easily I think the rights in this $1,400.00 Government in overcome. total number of particular deal Thiokol Company at to other a owners would not want owning 50% of this our total holdings, security measures confidential (for Government acres on which we had underbrought us something over 50 cents an acre for the 25% interest. I personally agree with you thoroughly that these rights should not be lightly disposed of, but in this particular case I think that we have actually gained by the transaction. Very best wishes, Sincerely, Val A. Browning President VAB:DHB