AN IMPORTANT ENTERPRISE.

Dominion, Volume 5, Issue 1410, 10 April 1912, Page 5

AN IMPORTANT ENTERPRISE.

THE TARANAKI OIL WELUS, LIMITED. Tho Prospectus of the Taranaki N.Z Oil Wells Ltd. will be issued to the public under very favourable auspices. The board is an exceptionally strong ono, consisting, as it does, of the Earl of Bnnfurly, G.C.M.G., chairman; Major Dudley Alexander, C.M.G.; Mr. Joseph Brailsford; and Mr. Andrew L. ■ Horner, K.C., M.P. Two further Directors will join the Board after Allotment; namely, Sir George Clifford, Bart., of "Stonyhurst," Christchurch. N.Z.j and Sir John Lane Harrington, K.C.JI.G.. the latter being Chairman of The Oil Trust LimitMi. It should be mentioned that (he Oil Trust Ltd. will act as Secretaries, and tliat consequently tho manngement will be in good and experienced hands. Investigation and reports havo been mado bv those enmpptent Experts Mr. J. D. Henry, of London, and Dr.. J. M. Bell, until recently head of Geological Survey in New Zealand. Tho former _ will, indeed, continue to act as Technical Advisor. The Taranaki N.Z. Oil Wells Company Ltd. has been formed to acquire tho oilrights over some 4800 acres of Dropcrly at New Plymouth, from tho Taranaki Petroleum Co., Ltd.. and on which there are already three flowing wells yielding about 15,000 gallons of oil per week. There are, too, in the Company's tanks, now stored, some 310,000 gallons of nil awaiting The Refinery, which it is the intention of the Directors to erect. It might be remarked that the oil that is flowing from the three wells already active contains nver 17\ per cont. of naraffin wax. Messrs. A. F. Craig and Co., of Paislev, Scotland, who analysed some of the oil, state: "We are aware of no natural petroleum which has been found to be so rich in this valuable product." Dr. J. M. 8011, ngnin. in his Kpview. says: "The geological structure of the Taranaki District, New Zealand, together with the production which has attended initial develonmcntal work, indiontps tho oxist»nco of an important nilfield." Then. Mr. J. D. Henry concludes bis Report with theso words: "The entire proposition can bo recommended on Hip "round that it is complete in every detail, embracing as it does Hie production, refinins, and marketing of petroleum linrlcr the most favourable economic and trading conditions in one of Iho most progressive Cnlnnios nf tho Empire." TTnving regard to all things—to Iho undoubted vnlim of tlir. proiiorlv. to the approved richiipis of the oil. t» I'm poi'fonliol of (he director-:, and finally tn tho pxpnrionond and competent msninupnvnt— an inrMtmenr in tho sham; of Tho Tnrnnnki N.Z. Oil Wolls. Limited, would Footn to bn doHdodly • attractive. Tt should r-ertninly command tho eoilous attcjitiou vf. the publio,