Further Discoveries of Oil in Taranaki.
(per press association.) New Plymouth, May 30. Botter indications than ever were obtained to-day at the petroleum works. Oil shot right up to the top of the derrick. Sites for several new bores will be pegged out at once. Mr Fair, the oil expert believes Taranaki will develop into the best oil field he has ever seen. The pressure of gns in this bore is very great. This Day. Large numbers of persons are visiting the petroleum works to sec the oil being pumped and the syndicate shares of i:100 each arc being taken up liberally. It is said a company with a capital of .£50,000 is to be formed in Sydney. At present the well yields from 80 to 40 barrels, of 40 gallon, a week as it at present stands, and but for the water it would be more. It is proposed to sink at once, a well at Omata which is expected to tap the oil reservoir. Mr Fair, the oil expert, says the crude oil in the barrel as pumped up is worth 15s each. The oil is like Indian, but of better quality. It contains 74 per cent of pure parrann.
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Bibliographic details
Feilding Star, Volume XVI, Issue 280, 31 May 1895, Page 2
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202Further Discoveries of Oil in Taranaki. Feilding Star, Volume XVI, Issue 280, 31 May 1895, Page 2
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