N.Z. OIL PROSPECTS
TARANAKI COY. HOPEFUL
;Bj Telegraph—Per PreRS Association.) MELBOURNE, July 31. The profit and loss accounts of the Tarnaki Oilfields Ltd. fol- the year ended April 20th. 1930 show a debit balance of £3967; The Company owed £3588 to external creditors and held £764 in cash and deposits. The shares held in other companies were valued at £210,297; the stores and tools were valued at £14,786 and there also were debitors’ balances aggregating £67,741. The paid up capital was £516,312, and the calls unpaid amounted to £2458.
The directors are of the opinion that the Company has 'gootl' prospects of success \(’ith encouraging' evidences of oil and gas seepages at Waitangi Hill, where the next bore will he sunk. They point out that -the'Persian, Mexican and Unf ed States oilfields, before reaching the producing stage, entailed more prolonged and more expensive prospecting i peratioiis than have been the case up to date on the Taranaki fields. : '
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Hokitika Guardian, 1 August 1930, Page 3
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158N.Z. OIL PROSPECTS Hokitika Guardian, 1 August 1930, Page 3
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