S. C. Petroleum Company.

Poverty Bay Standard, Volume IX, Issue 969, 13 August 1881, Page 3

S. C. Petroleum Company.

A messenger arrived from the Southern Cross Petroleum Company’s ground on Wednesday evening, bringing intelligence from the Manager that the westerly gale, which has been blowing with more or less severity during the past week, reached its climax on Monday last, and did some little damage to the Company’s property, although nothing more serious than a temporary inconvenience and delay. The derrick has suffered most, but Mr. Parsons thinks that the repairs will be effected in the course of a few days. Since the above was written the Rosina has returned from her trip to Awanui, bringing with her Mr. Clarke and Mr. M. Benies, from whom we glean most satisfactory information. Mr. Benies says that any doubt that may have existed as to the payableness of the field, both for paraffin, wax, and petroleum, is now set at rest. But we will allow that gentleman to speak for himself. In a letter to Mr. Clarke, on the subject, he thus refers to what he has already seen : — Mb. Wm. Clabkb, Managing Director of the Southern Cross Petroleum Company, Limited. Dear Sir, —As your shareholders in the Southern Cross Petroleum Company will be anxious to know my opinion of this property, I have much pleasure in shortly stating that after a careful examination of the Oil Springs and the land immediately surrounding them, find the following minerals: — Paraffin butter, earth wax, and petroleum. The two former are in such large quantities that it would be impossible to exhaust the field in centuries of manufacturing. At about forty different points, a considerable distance from each other, I was successful in finding the materials, in some places directly on the surface, in others from six inches to one foot deep. The nature of the country is such that the mineral must permeate the soil to a very great depth. The quality is in some places exceedingly good, in others in payable condition. I have no hesitation in saying that average earth would yield 33| per cent, of wax, worth £3O per ton after separation and cleaning. I collected some interesting samples of different qualities, some of which contained the roots of the present vegetation. With regard to the petroleum, I saw some of good quality exuding at the surface, and I have no doubt of it being found in sufficient quantity by boring ; it is impossible for me to say that you will find it at any particular spot, properly directed exploration only will reveal the locality. I shall be able, in a day or two, to propose to you some plan for immediately utilizing the valuable materials now exposed and ready for manufacture. I remain, Sir, Your Obedient Servant, (Signed) Michael Benies. Our readers will remember that the first general meeting of shareholders will take place to-night in the Masonic Hotel, at which Mr. Clarke will state the result of his visit to Sydney, and, probably, we shall hear more from Mr. Benies himself. Suffice it to say that he is quite surprised at the valuable property in the Company’s possession.