SOUTH PACIFIC PETROLEUM COMPANY.

Daily Telegraph (Napier), Issue 3700, 25 May 1883, Page 4

SOUTH PACIFIC PETROLEUM COMPANY.

Mr Isles, who loft for the Springs on Wednesday, returned to town last night, tho trip up and back being rather slow •work owing to the heavy sUte of the roads nearly all tho way beyond Ormond, and the river crossings being high. Travelling up tho Three mile Creek was also difficult, as, in many places, portions of the banks were found washed away, caused on the late heavy rains. In consequence, the Company's works Averc not reached until nearly 8 p.m. On going" down to the derrick at 10 p.m., found boring operations going on smoothly, the depth of pipes at this time being 125 ft., Avith the bore some 20ft ahead Shortly after another pipe avus put down, and again another on the following morning, bringing tho depth up lift. Bin., Avith the bore Oft. "in advance. Tho same evening (Thursday), at 9.30, another pipe was fixed and driven home, tho depth now being 150 ft. 3in., and the bore leading by 12ft. Yesterday, about 11 a.m., before leaving for the return journey to town, boring avus progressing steadily, and another pipe Avas to bo put cloAvn, Avhicli, with two more today that Mr Weaver intended fixing on, would bring the depth up to close on 175 ft. Mr Weaver, the Boring Manager, is much pleased Avith the new site, and also satisfied with tho splendid Avay tho pipes arc taking their places. The stratum being bored through is a soft sandstone. Altogether, Avo areinfomed the prospects of the Company are decidedly good. A little Avas done in the share-market to-day, contributing shares being tight at Is, whilst fully paid up quitted at 8s Gd.—Gisborne Herald, 19th instant.