TARANAKI OIL.

Dominion, Volume 5, Issue 1415, 16 April 1912, Page 7

TARANAKI OIL.

THE POSSIBILITIES OF PETROLEUM,

It is plain that the Taranaki N.Z. Oil Wells, Ltd.',' whose .Prospectus is now before the public,.!is a corporation with big tilings in baud. .There is abundant petroleum in Tarnnaki, anil the company tins over 300,000 gallons of it alreadystored. Tho uses of petroleum seem to bo endless. Every new modern development increases tho demand for petroleum in ono or other of its forms. *Eaeh motor-car produced stands for so much more petroleum to bo devoured.. Every now machine unci engine made, in the workshops of tho "Vorld me.iiis mere- petroleum. Which is all very interesting to Inra,)iaki. Up there, people are cheerfully engaged in* speculation on what they coneider a certainty. Tho TaranaKi N.A.Oil Wells, Ltd., is not gambling. It knows how much , oil : it can Ret, on Hie lowest estimate; it knows how much it will Mst to get tho oil, and how much tho oil 13 worth.' Tnranaki petroleum has certain excellent and (xccptional qualities. It is richer than 'any other petroleum in paraffin wax; and is therefore the best oil known. Consequently, it ehould always command the highest pnee m the market. When tho moro valuable qualities or substances havo been extracted, it is excellent for liquid fuel, and tho demand for liquid fuel increases every day. Tho Admiralty is already looking . lor further supplies in British Dominions. Great mercantile shipping concerns, too. aro fitting -their steamers to bum petroleum. Even our own s-plendid tion which is ever up-to-dato, tho U.o.s. Co of N.Z., Ltd., is havinp oil furnaces placed in its-latest magnificent s earner, n thirteen ■■thousand ton vessel. At lißt they are to bo used in combination with eoaf furnaces, but ultimately, it is expected that petroleum will prevail universally for steaming purposes. In fact, there is no doubt abont the market. Tho.Tnrannb N.Z. Oil Wei b. Ltd Ehould easily l>o riblo to roll every Ballon Tits oil. Hut there is more than that. It will fell its oil under condition! of peculiar advantage*. Its wells are situated at New Plymouth, convenient to the harbour. Tank steamers can bo lomlod cheaply, without delay and without wacte. ncre is tho natural source from which tho whole- petroleum supply of A».«tra asia should bo drawn. Taraiiaki Oil is what tho Americans would call a gigantic proposition.