SEARCH FOR OIL.

Ashburton Guardian, Volume 57, Issue 255, 9 August 1937, Page 7

SEARCH FOR OIL.

GREATER EFFORTS WITHIN A YEAR. (Per Press Association.! NEW PLYMOUTHfi, August 7. “I am confident that within the next 12 months we will be making the most serious efforts ever made in the search for oil in New Zealand,” said the Minister'for Mines (the Hon. P. C. Webb) during a civic reception at New Plymouth this morning. “Every large company has been told that unless it is prepared to search for oil with the most modern appliances in the world, the Government will take a hand in the matter. I would not hesitate about asking the Government, not for £IOO,OOO, hut I would take the risk of asking for £500,000. “If we spent £500,000 in the search for oil, and the indications were such that we were justified in spending that £500,000, or even £1,000,000, then the money would have been well spent, because onco wo get a flow of oil, it is going to bo a great asset.” The Minister said bo was very impressed with the oil prospects in Taranaki. “Wo have a Bill to come down,” lie added, which provides that if oil is discovered it will belong to the people of this country, and to no company. IP wo can produce petrol, it will bo re fined in this country.” Ho added, however, that every assistance would be given to companies prepared to drill for oil, and lie was sure that inside probably the next year drills would be going very deep in the search for oil.