10 The Guardian, Thurs. Jun. 23. 1964.

Oil Exploration Off Sable Island Planned By Firm

CALGARY (CP)—6ocony Mo-; bil Oil of Canada Ltd. an-f nounced Wednesday it has ac-_j quired federal gov ment per- mits to explore 2. .341 ac off the Nova Scotia shore

oil and natural gas.

aid Nova Sco-_'

A spokesman not been ob-

tia permits h tained.

The acreage lies about 110 ‘; miles east f Sable Isl d. I where Socony s held a 1. .- -

000-ac exploration tract since; 1959 federal and provin- cial perm’ .

Socony said exploration plansg for the new area have not been made.

Shell Oil Co. of Canada Ltd. ‘ earlier applied to the federal_ government for exploration‘ rights on 20,000,000 continental shelf acres along the Nova Sco- tia co t, surrounding Socony's Sable and tract.

A Shell spokesman said the) application is being rocessed. and the Nova Sco' govern-. ment h granted a geophysical permit the company to low loration under’ federal perm’ ding a decision on whether federal government. or provinces own mine 1 rights on the continental sh .

He said a condition of the 3 Nova Scotia mit is that the s compan_ wo take out pro- ,- vincial 'ences if it. was de-3 cided the provinces owned the rights. :

Pr‘ , M‘ '.ter Pearson said ; Nov. the eme Court of i Canada would asked to rule ; which g 'rnment owned off-' shore rig .

Oil Industry Investment . Seen Needed 5

OTTAWA iCP)—It is urgent that more investment be made in the Canadian petroleum in- dustry if future uirements are going to be m . the commissio on taxation was told Wedn ay. .

Any suggestions that Canada enjoy unlimited oil supplies must disc nted, said Charles Hay, bo chairman of the Canadian Petroleum Asso- ciation

"The estimated demand for crude oil. coupled with the pres- . ent rate of discoveries shows} that by 1970 the ability of uiei industry to produce rket re- § quirements will be u near to ; capacity and p en reserves‘ will be no more an adequate for 12 or 13 years. . . .“

The association. resenting the m ‘ority of Can a’s tro-

um "ms. came to a the commission to recommend sev- eral t tion m u that; would e the e t mak-_. ing oil investments more attrac- . tive. j

One recommendation was that

e depletion allowances — in'

th

lieu of the diminishing plies ; of 0l.I——-be calculated at ' per? cent of gross inc e rather 3 than the present 33 - per cent.‘ of net income.

The other m ' recom nda- tion was that ‘Hing a ex-; ploration costs be deductible! from all income of all indivi-N duals and c oration. Under: present r ‘ons. s costs’ can be d cted o l_ from in-: come derived from ' and gas ‘ production.

Mr. Hay said he thought this second change would result in

m e com 5 associating themselves w’ ‘ ms ' e oil exploration business. it mak-

lngz risk capital available. ‘

Fluid Milk, Cream Sales Up In Nov.

OTTAWA (CF) --- Sales 0! fluid milk and cream. in milki equivalent, rose four per cent; in November to 519,245,000 1

pounds c ed with the

same mo 1962. the bur- eau oi statistics said Wednes- dav

1

This brought sales in the first. 11 months of 1963 to 5.564.929,-4 000 pounds. up by two per cent from a year previous. ‘

Novembe .ales of fluid milk} and one clined by one er‘ cent in . w Brunswick fr a year earlier to l3.236.000 pounds but were up in othe rovinces.

Month's . les in . se prov- inces. wi percentage gains from a yea arlier in brack- ets: Prince ward island 2.-

ba 28.536000 (4). Saskat- chewa (7), Alberta 34. . rm and British Co- lumbia 42,370,000 (5).

All provinces reported larger sales in the January-November period as compared with a year earlier. Totals. with percentage ga'n in brackets:

' e Edward island 25.560.- . Nova Scotla 186,586,000 (2). New B swick 54,290,000 (1). Quebec ,675.m6.000 (3), Ontario 2.005.314.000 (2). Muri- tnba 300351.000 (2). Saskatche- n 320343.000 (2). Alberta .086 and British Co- Iumbia 451933.000 (8).

ENVOY QUIT! WASHINGTON (AP) -1!»- thew H. Mccloskey is 8 .8. ambassador to Ireland

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