The Gisborne Times PUBLISHED EVERY MORNING. GISBORNE, MAY 3, 1906.

Gisborne Times, Volume XXII, Issue 1739, 3 May 1906, Page 2

The Gisborne Times PUBLISHED EVERY MORNING. GISBORNE, MAY 3, 1906.

J TARANAKI’S SUCCESS. !g All will join heartily in congratu>n lating the people of Taranaki on thensuccess with oil boring, though a word of caution is necessary regarding the o, booming of shares. Some interesting a. information is supplied by telegraph to the New Zealand Herald. The message states: —After about -10 years’ prospecting, boriDg, and experimenting, with many trials, losses, and >r vexations, there seems no reason to - doubt that at last petroleum has been tapped at New Plymouth in payable quantities. Never have the indications been better, and never was the manager (Mr G. Fair) more confident. Interviewed by a representative he said he commenced this bore about IS months ago. It was now down a depth of 2531 ft, The bore is cased to • a depth of 2210 ft with (Jin sleel casing, and the pump goes to a depth of 2200 ft, By moans of the casing the manager disposed of the water difficulty, which always proved detrimental to success in past years. For the last fortnight the staff has been lowering this casing, which now rests on a good bottom, and the bore is practically cloar of silt or water, which was effectively cut off on April 11, From that date things have been constantly brightening and improving, until to day the manager, the i

shareholders, and the public are brimming over with excitement, and sellers refused business at £2O per share. On Friday, when the pressure was removed, tho oil, which was only awaiting an outlet, gushed out at every available opening, spouting with groat force. The sample was pure and absolutely free from water, rising naturally without pumping. To give some idea of the pressure at whicn the oil is being forced through the easing outside of the pipe in which the Sin pipe works a couple of kerosene tins : were filled in a few seconds with only a fraction of the pipe opened. It is j calculated that if this is sustained the j How is equal to 100 barrels, or 16,000 t gallons a day of 21 hours. On Friday c night the casing was sealed, and during t the night the oil continued to force its 8 way up the pump. Saturday was an 1 off-day at the works in order to allow s the gas pressure to accumulate in the pump and so confine the flow of oil to j, tie proper channel. During Sunday p over 10 barrels ran from a small h

opening. Tho manager is well ploasod at this, and no pumping was done today, tho prossuro increasing from 10lb to tho squaro inch on Saturday to 491 b to-day, or equal to about 15001 b at tho bottom of tho pump. Aalcod aa to tho quality of tiro oil, Mr Fair said : “ After many yoars’ connection with oil wolls in Canada, Italy, lioumania, and Pennsylvania, I can say positively that I havo novor soon bettor oil or riclior in by-products. At a tomporaturo of 75 dogroos it is almost as liquid as wator, and comparos with tlio boat oils I have over handled. It is 20 por cont. ahead of Canadian, and bottor for parallin and lubricating than Ponnsylvauian potroloum. Tho analysis of tho Moturoa oil (Now Plymouth) givon by 1 Jr. J. Macintosh 8011, diroctor of tho goologicnl survey, runs: Water, 0/1; koroseno or burning oil, distilling between 150 degrees contigrado and 300 degrees centigrado, ■l2; lubricating oil, 20.5; parullin, 13.3; coke, 5; loss, 1.” “Youaro conlidout that you have struck a really payable llow now:''’ askod tho roportor. “Absolutely so, and that whoro we stand now, under tho wholo town of Now Plymouth, and nearly all Taranaki, is ono vast oilliold, just awaiting dovolopinont. I was interested in provious boring, and promised then to thoso in that venturo that I would return somo day and prove that oil exists. I came, and I havo proved it now. I have shown that tho oil is thoro, and in such quantities that it sooms likoly to bo obtained without tho expense of pumping. Never in my life havo I seen better results, and I predict tho early fulfilment of tho most hopeful predictions." It is expected that the llow will be 100 barrels daily without pumping, and it is reported that there is a good market for all that can bo produced. Taranaki’s success is of great interest to this district, and must soon load to a development of the oil industry on the East Coast.