TARANAKI OIL SHARES RISE
THE BLENHEIM BORE GUSHES OIL. New Plymouth, Last Night. The Blenheim oil bore was again capped to-day for the purpose of taking a measurement of the flow. An official statement was subsequently issued by the secretary, Mr. S. E. Neilson, on behalf of the company, that the flow had proved to be at the rate of 4000 gallons an hour.
The well was again sealed, pending the completion of the installation of the conduit pipes to take the oil from the mouth of the bore to the steel reservoirs. Though this work was to have been completed to-day, it is not. now expected to he finished before about Thursday. Mr. Neilsen states that several parcels of shares have been sold at 35/.- and 40/-, but sellers are now asking 50/-. It is stated that the crude oil flowing from the bore is saleable at 1/2 .pm' gallon.
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https://paperspast.natlib.govt.nz/newspapers/MH19290205.2.27
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Manawatu Herald, Volume L, Issue 3903, 5 February 1929, Page 3
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151TARANAKI OIL SHARES RISE Manawatu Herald, Volume L, Issue 3903, 5 February 1929, Page 3
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