A HUGE FLOW OF OIL
WHAT SUKFACE INDICATIONS SPELL. At the outbreak of war this company had to cease operations, and it was with extreme reluctance that, such a promises field was left in an unfinished state for iinv enterprising British or colonial company' to buy up and carry on. The Kotuku Company sank No. 1 bore down to. a. depth of 2336 feet, and no water was met with, thereby proving that volcanic action had not broken tho thick upper strata and allowed the oil to escape. It is still more significant that the present company have gone down a.further 12(14 feet, and still no water has been met with. All exports and geologists emphatically state that the Waipatiki fields are geologically right, surface conditions are all that, can bo desired,.and that a huge unbroken oilfield lies in this district.
Two or three groups of investors were after the Wnipatiki property at the time it was forced on to the market. The nresent company, the Wnipatiki Oil Wells, Ltd., got in first. It could have disposed of its interests had it so ocsircd on more than one occasion. Even now. American interests are casting: covetous eves on what they consider has every chance of producing unlimited quantities of oil.
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Dominion, Volume 13, Issue 62, 6 December 1919, Page 5
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210A HUGE FLOW OF OIL Dominion, Volume 13, Issue 62, 6 December 1919, Page 5
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