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Getty's Arabian venture fails to yield oil
Page entitled : Getty's
Arabian venture doomed by Aminoil's failure to find oil
Content of this page is about :
How Aminoil drilled one dry hole after the other costing Getty's Pacific
Western Co a fortune before finally striking oil in the Wafra tract
Extract :
... All his efforts were in vain. He was arrogantly dismissed by the more experienced field managers who drilled one dry hole after another for the best part of the next three years, led by unreliable seismic research. By the end of 1952, Getty had sunk an additional $18 million into the desert of the Neutral Zone and it appeared that he would have to write-off this major investment. Bad tongues already talked about his pending bankruptcy. The Aminoil consortium was
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