TARANAKI OIL.

Rangitikei Advocate and Manawatu Argus, Volume XXXI, Issue 8761, 12 March 1907, Page 2

TARANAKI OIL.

Shares Hardening. Press Association. New Plymouth, March 11. The most important recent developments in oilfield exploitation is the shutting off of the water in the Taranaki Petroleum Company’s No.' 2 bore, at a depth of 1711 feet, which was effectively achieved to-day. The G-inch casing now rests embedded in solid rock at that depth, and is hermetically sealed. The effect of this is that boring may now proceed uninterruptedly till the oil measures are struck, which is estimated at a further depth of 300 to 400 feet, probably taking about two months to reach. Shares in the company are hardening and difficult to procure. Operations now are proceeding at six other bores in the locality.