PETROLEUM.

Taranaki Daily News, Volume XLVII, Issue 8157, 14 July 1906, Page 2

PETROLEUM.

A MONEY-MAKING INDUSTRY. There seems to be no ond to the -Tnm-'reial uses to which crude petro viun and its by-products may be put—we are even told that it has been discovered to be an effective plaguo disinfectant—but few probably have taken the trouble Jo work out for|themselves what a gold-mine, ? a flowing well actually is. That thorc is money in the business everyone knows, elso how could the richest men in the world have built up their fabulous fortunes. In order to illustrate, as far as is practicably possible, what such a bore as the flowing Birthday Well al Moturoa should be worth, the followinj; estimates have boen compiled, based on (the authoritative analysis made by IProfessor Easterfleld of Wellington. Taking 100 gallons of the crude petroleum, according to the distillation test, tho figures would pan out as follows I

Benzine (which inoludes Naptha), distilling be. tween 65 and 150 degrees C| 20 per cent. or 20 gallons at Is. 10 0 Burning oil (which Includes kerosene, paraffin, etc.) distilling between 150 and 300 degrees C; 40 per cent., or 40 gallons at6d ... 10 0 Heavy oil for lubricants (including paraffin wax, vaseline, |etc.) distilling between 300 and 440 de. grees C; 37 per cent, or 37 gallons at 3s ... 5 11 0 Showing a gross value of £7 11 0 The cost of refining the 100 gallons, estimated at 3d a gallon, (in Amerioa the cost is a mere fraotion of a half-penny) ~, 15 0 Showing a net profit on 100

gallons of £6 6 0 The expert, Mr Fair, estimates that the producing capacity of the Birthday well is between 200 and 400 barrels per day, but even if it should only produce 100 barrels, the profit would, on the above estimate, be £26112s per day. In a year of 288 days, the profit from one bore should therefore be £76,201 16s. The directors of the Taranaki Petroleum Company purpose sinking four additional bores, and pleaning put and rceasing two old ones, making seven bqros in all. Should the company have the same good fortune in these bores, they might be expected to produce for tl)e fortunate shareholders over half a million sterling per annum. The ftguros appear almost too good for bohef, but it was only thp realisation of such returns that made multimillionaires like the Eockfellers.