The Petroleum Works.

Taranaki Daily News, Volume XLVII, Issue 7852, 19 June 1905, Page 2

The Petroleum Works.

AN EXCELLENT FLOW,

: The prospects at the Moturoft boring site continue satisfactory, for an Saturday there was astc a dy flow of oil. No work had been done since i'ild.iy ■ morning,» but a tank being placed under the outflow pipe in the

•moon, in less thami three hours

,abji:l U.)O gallons of oil uccumulat,od. The flow later on was encouraging iii that there was verv little I naie.' coming up with the oil, BMch

wns issuing spasmodically, in uu» J respect the indications arc much su- J pcriir to those of the best of the prcieiling bores, and Mr Fair, the 'manager, is confident that tie has ' successfully doped with the wuicjr both inside and outside the Casing He "ays that he did not expect a "gusher," but the fact of so much oil being forced up by tie presence of gas is gratifying. The exact mode of (tumping to be adopted will be determined within a day or two, and in the meantime the bore will bo left alone.

A considerable number ol people t went out to ilpspect the works' on Saturday and Sunday, and the opinions formed are generally favourable, though an occasional pessimist is heard expressing doubts as to the permanency of the "strike" in view iaf past experiences. Shar t >a were quoted as high as £lB In town on Saturday, but that was a figure which did not tempt buyers, and generally speaking shareholders are showing! no desiro to traffic te. shares, on the strength of iita present, outlook.