NO WILD-CAT SCHEME

Dominion, Volume 13, Issue 62, 6 December 1919, Page 5

NO WILD-CAT SCHEME

Intending investors are not being asked to buy any "pig in a poke" proposition. The promoters herewith lay all cards on the table, and in inviting subscriptions for an issue of 21,762 shares of £1 each they are not asking for more money than is actually; required for further development work. They do so with every confidence because so' far every indication augurs well for the location of oil in payable quantities'in the immediate future. In this connection it is significant that the boring site is the one which .v?aa selected by Dr. Wanner, the eminent German geologist, after an exhaustive researoh into the oil-bearing possibilities of the whole of New Zealand. It is within a stone's,throw of one of the largest and purest benzine gas springs in the world, which has been flowing continuously for the past thirty years. The bore is now down to a depth of over 3000 feet and no water has been encountered, a fact which scientists point out stands out pre-eminently in its favour; further, there is, as will be shown in the abridged prospectus, a complete absence of the geological conditions which have negatived the success of other similar ventures in New Zealand.

A SOLID PROPOSITION The nroinoters' of tlio' Waipatiki Oil Wells, Ltd., are men of standing, ana' reside in the district contiguous to this new-found oilfield. The company is not being floated by any wild-cat company Dromotors of veiled " reputation from America or tho Continent. They themselves have long been associated with the district, and, aided by exports, they havo hatf ample opportunity of summing up the prospects of the field thoy are developing. In acquiring tho property the'v- took fully into . account the fact that it was upon the advice of Professor Wanner.' the greatest geologist nnd oil expert in the world, that the Kotuku Oil Wells commenced boring operations at Waipatiki. His direction and advice wore that a bore bo sunk in close proximity to tho gas spring mentioned in the Prospectus, and that if no water was met within the first 2000 feet of the bore a huge flow of oil would probably bo struck, as the surfaco indications were most favourable.

The Kotulm Company was floated with Lona'on capital, and controlled by tho Royal Dutch and Shell Groups.