WARWICK RIVER OIL

Hokitika Guardian, 18 May 1929, Page 8

WARWICK RIVER OIL

A SYNDICATE FORMED. Following on the oil flow recently discovered near the "Warwick Diver, in the Murchison district, a syndicate comprising prominent mining and business men of Sydney, has been lormed consisting of 1000 shares o'l £5 each and registered as the Rlaekwater Oil Syndicate. The required capital for preliminary prospecting work was immediately subscribed, and Mr J. A. Spencer, field genglogist, has received cabled instructions to make a comprehensive survey and report on the whole area. Investigation to date has been of a somewhat surprising nature, and strong emanations of gas and oil can be distinctly smelt that were hitherto unsuspected. Some parts seem to he literally ‘f alive” with gas and oil, and in one place the two in combination are almost overpowering, and can be detected at least 2do yards from the occurrence. Practically all the available favourable oil-bearing lands have been applied for and active development is in train. What future research will reveal is in the “ lap ol the gods.” Mr Spencer’s experience, ranging over pratrically the whole ol the supposed oil regions of New Zealand, as outlined by the late director ol geology, has failed to discover so definite an indication of 11 oil within reach ” as is furnished on the area near the Warwick River. All this surface evidence is subservient to the location of suitable conserving structure, which it is hoped will be discovered as investigation proceeds. It may be stated that the examination of the areas to date has been entirely satisfactory.