TARANAKI OIL FIELDS.

Dominion, Volume 5, Issue 1339, 17 January 1912, Page 8

TARANAKI OIL FIELDS.

i (By Telegraph.—Special Correspondent.) Auckland, January 16. Operations on the Taranaki oil fields within the next year or two promise to be on very large and important scale. "The fields are going to be worked thoroughly," «Ud ilr. Jl. J. Brown, chairman of tho British. Umpire Oil Fields, Ltd., purchasers of the Taranaki Petroleum Company's interests, to a "Herald" reporter yesterday. .Mr. Brown, who has had a long and varied experience in oil fields in all part?? oi the world said that Tara* naki had not been worked properly yet. The new company's first action would be to fend Home for <i geologist whose bufiuctis it would be to spend six months in superintending exploratory work on the fields. "Then," said 3lr. Brown "wc arc going to Mill; wells 'down SOCOft. "We don't mind what oil we strike on the way down. We are going steadily down, perhaps through three or four rise*. When we have determined the true horizon wc will proceed to draw oil from three or four rise?, and more than that, we will take care to shut oil thft water as we go. So far the greatest depth haij only been 3D50 feet, and nil came up without any pumping help at all. For 150 barrels a week to have been seen rod for about two years under those conditions is uninuc in the hi&tory of oil work. That oil is the richest in paraffin in the world. The percentage is 17J per cent.., and the next best is 10 per cent." The new company also proposes to put down half a down borse? to find out- exactly, where to put the wolls. Instead of 11-jncii bore.-, they will sink 56-inch bores. A ono-unit refinery will also be erected at a cost of £12,000. or £14,000. With these arrangements, it. is hopod to make a profit of £09,0C0 a year. Instead of 150 barrels a week, 150 barrels a. day is the anticipated output. The company, said Mr. Brown, liad a. working capital of £275,000, and had agreed to purchase the fields for £105.000.