OIL PROSPECTING
AUSTRALIA AND NEW ZEALAND STRAIGHTFORWARD BUSINESS. Melbourne. Nov. 29. The Rt. Hon. \V. J..'Watt. exSpeaker of the House of Representatives. chairman of directors of Taranaki Oilfields, Limited New Zealand, criticised oil prospecting in Australia and New Zealand in his annual address to the shareholders of tho Taranaki Oil Company. Mr Watt said it had to be remembered that commercial oil production in Australia and New Zealand was not yet an accomplished fact. The history of such prospecting as had been done was spasmodic. The effort was not infrequently surrounded by an atmosphere calculated to alienate tho sympathy of the sound business elements of the community; in fact most Australia efforts had become perilously near being a byword, and a holder of shares in an oil-prospccting venture was still looked upon in some quarters as being financially speaking, a little unbar anced. There had been no opportunity in Australia or New Zealand for the general public to form a correct view of the quest for oil but. contrary to to the erroneous but popular view, tho search for oil was as legitimate and straightforward a business as any other.
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Hawke's Bay Tribune, Volume XVII, 30 November 1927, Page 6
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190OIL PROSPECTING Hawke's Bay Tribune, Volume XVII, 30 November 1927, Page 6
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