The Oil Industry.

Gisborne Standard and Cook County Gazette, Volume I, Issue 34, 30 August 1887, Page 3

The Oil Industry.

There is some little excitement in town amongst oil company speculators, consequent upon the arrival of Mr Fleming, Chairman of the South Pacific Company, from Sydney. Before leaving Sydney the following circular was issued by Mr Fleming to the shareholders which in itself is sufficient explanation of his visit: — “ Your Directors have to advise you of the completion of the Contract for boring to a depth of 1,200 feet. The long delay which has taken £lace has resulted from various causes. n the first place, the tubing, pumping gear, &c., ordered from America, could not be obtained in San Francisco, and had to be procured from the Eastern States. After the arrival of the plant at the works, an accident occurred of a very serious nature, which, but for the skill and energy of the contractor, Mr Weaver, might have resulted in the loss of the bore. The column of 4| inch pipes, 1,100 feet long, has reached to within 8 feet of the bottom of the well, when the lowering tackle gave way and the pipe dropped. The bottom length of tubing was crushed and bent so much by the fall, that it was found necessary to take the pipe out again. This proved to be a most serious undertaking, as, owing to the shape of the damaged joint, it required a lifting force of 80 tons to bring it up inside the 6-inch pipe. A period of nearly three months was occupied in getting the pipe up, screw jacks and full steam power being required to accomplish the task. The pipe once up, the damaged length was taken off, and necessary repairs having been effected the column of pipe was safely lowered intoposition and boring re-commenced. The strata for the last 60 feet is a rotten sandstone, saturated with oil, but it will not stand without tubing at the bottom. '1 he bore is now 1,205 feet deep, and the tubing 1,200 feet, with 135 feet of oil. The oil is of a very high grade, and very pure. A call is now being made to pay off the bn'ance due on the last contract, and to provide funds for any further operations. Having been urged to visit Gisborne, I have decided to leave per Manapouri, on the 18th instant, and hope to find that the supply of oil coming into the bore is sufficient to warrant the commencement of pumping." Yesterday morning Mr Fleming set out for the Oil Springs, where he remains for some days to conduct a personal investigation of the present state of affairs, Upon his return we trust to be able to place before our readers a truthful account of the future prospects of the well. Mr Fleming was accompanied on his trip by a number of Gisborne gentlemen.