831.6363/33: Telegram
The Minister in Venezuela (McGoodwin) to the Secretary of State
[Received June 16—9:15 a.m.]
45. Department’s instruction number 541 of April 28 last.2 Decision of Supreme Court this afternoon annuls contract of Colon Development Company Limited for noncompliance as to entire areas of 1,980,000 hectares except four areas of 200 hectares each on which are three proved wells. Similar action as affecting following areas for same cause is expected soon. Venezuelan Oil Concessions Limited 850,000 hectares and British Controlled Oilfields Limited 1,600,000 hectares. Representatives of six largest American oil-development companies are here and are confident of ability to secure contracts covering these properties and approval of same prior to adjournment of Congress June 27th.
- Not printed.↩