THOUGHTS FOR THE TIMES.
. jPETROLECM PROSPECTS. - There has been a revival of activity in the petroliferous areas of Taranaki and Povetry Bay, and several , cptripanies are drilling with more or less modern equipment in the hope of.-suev.-.; cessful commercial results. . In • x tlje '/■ ioimer area five companies are at work and one in the latter district near the town of Gisborne. The actual striking of oil in Wells now in hand would occasion far less\ surprise „ than would a continuous flow in cbm- * mercial volume; ' ; Hitherto m Taranaki a particularly rich oil has been won, but the production has been matter of spurt and finish. Sufficient was obtained sonic years ago to ill* r _ duce an English company; to erect a ’ refinery at New Plymouth, but' again the supply fell short of commercial '- volume, and the refinery equipment wks dismantled and shipped to'Persist. Wells mow being bored -in yTaraftaki : had reached at latest reports . ' 454 ft, 1,262 ft, and 1;920ft. . In tM* Gisborne district over 2,000 ft has been drilled, with promising . indications. Further development is tak* >• ing place in this locality, c-\ a
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Hokitika Guardian, 8 October 1930, Page 4
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184THOUGHTS FOR THE TIMES. Hokitika Guardian, 8 October 1930, Page 4
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