THE SEARCH FOR OIL

Hokitika Guardian, 10 July 1929, Page 2

THE SEARCH FOR OIL

Interest in petroleum production in News Zealand seems to bo at a low ebb again-. There are, however, several concerns persistently boring for oil. The .manager of the Taranaki Oil Company is very optimistic that his .company will ultimately succeed. Very little lias been heard from the German scientists and exports engaged by Coal ond Oil (N.Z.), Ltd. It was expected that boring operations would liavo been in evidence by this time, but the scientists cannot be hurried. There were great expectations that the Roma oilfield in Australia would turn out a profitable venture, but there now seems little chance of that. However, boring is being continued in Australia, and a movement is on foot in Sydney to form a petroleum association of Australasia, which could be given power to discipline companies and could act as a clearing station for general information and boring data. All companies and persons interested in the work will lie invited to join, provided they are willing to subscribe to strict rules and all States are to be represented at the first meeting. A similar or-

ganisation lias been formed in Victoria. It is claimed that if all-pros-; pectors can be brought together under a sound constitution they -may eventually be able to join forces, financially and-.technically, to ensure that the quest’ for oil will be continued without the interruption which is threatening because some companies are having trouble in collecting call money. The depression after a period of good reports is always severe, and is not conducive to the successful. conclusion of work of such national importance as the search lor oil.