Business & Finance: Value of Kettleman

Amerada Corp. sold a half interest in its King lease, Kettleman Hills, Calif, to Union Oil Co. of California for $4,000,000 cash, $4,000,000 from future production. Last year Amerada bought this lease for $200.000 cash, $200,000 to come from the first production. On the basis of last week's transaction, the total value of Kettleman Hills is estimated at $1,128,000,000.

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