ALGERIA: Miracle of the Sahara

A gang of wildcatters toiling after oil in the broiling Sahara sun found themselves regarded last week as France's best hope of the future. Their latest dramatic find, tapped and capped at Hassi Messaoud, in the southeastern quarter of war-torn Algeria, skyrocketed shares of the Compagnie Française des Pétroles from 34,000 francs last year to 61,000 francs two weeks ago. From Hassi Messaoud and neighboring Algerian fields recently opened, there was now the promise of an assured yield of 60 million bbl. of oil a year. (Controlled 1956 production by U.S. wells:...

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