It is intended in this paper to discuss the relationship which exists between oil geology and the valuation of oil properties, or, more properly speaking, oil deposits, as the natural assets only will be primarily referred to. As introducing the subject, it may be asserted as obvious that the fundamental law of supply and demand governs the valuation of oil properties, the same as it does all other commodities. The causes which affect the demand are largely artificial and need not be taken up here; the factors governing supply and production are primarily natural or geologic and as such properly come under the head of geology—oil geology, to be more precise. The relationship existing between the natural and artificial elements, as affecting oil production, are so intimate that it will be impossible to discuss the one without mentioning the other—in fact, oil geology and oil technology are so closely related that any one

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