OIL PROSPECTING
OUTLAY OF £2,000,000
The drilling for oil that had been carried out in New Zealand was disr cussed briefly by the, Minister of Mines (Mr. Webb) in his Budget speech in the House of. Representatives last evening. He said that £2,000,000 had been spent by American and Australian oil interests in prospecting, and drills had gone down to 11,000 feet. ■ Drilling was still going on, and New Zealand had to thank America and Australia for so much money, so much science, and the expression of genius in the lay-out of their plants. Oil had been discovei-ed when drilling for coal was being carried out. It was in an unmoving body, and it would need a temperature of about 90 degrees to make it flow. Although its commercial value- might not be very great, it had been very encpurr aging and might be indicative of much in the way of geological studies. Prospecting had been done in both the North and South Islands, and there were 11 drills.
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Bibliographic details
Evening Post, Volume CXXXVIII, Issue 54, 1 September 1944, Page 4
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169OIL PROSPECTING Evening Post, Volume CXXXVIII, Issue 54, 1 September 1944, Page 4
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