PETROLEUM.

Taranaki Daily News, Volume XLVII, Issue 8179, 11 August 1906, Page 2

PETROLEUM.

AN INGLEWOOD VENTURE. The Inglewood Oil and Prospecting Company has secured boring options over a block of more than a thousand acres of land south of Inglewood. Near the middle of their territory, and typical of the rest of it, is Mr Jos. Burgess' farm on the Mountain road, about three miles from Inglewood It was to this spot that a goodly number of New Plymouth and Inglewoed residents hied themselves on Friday afternoon. Among those present were I Messrs L. W. Alexander, chairman of the provisional directorate of the company ; Messrs W. E. Percival (Mayor of Inglewood), Henry Brown (Inglewood) and G, Samson (New Plymouth), three of the directors Other members of the New Plymouth contingent were Messrs A. H. O'Loughliu, ft. Kirton, D. McAllum (the company's broker), H. Weston, H. M. Bauchope, J. Skinner, Penman, G, Arrowsmith (Awakino) | whilst from Inglewood were Messrs L. G. P. Sponcer (borough engineer), F. Brown, T. E Hamerton, H. Trimble, R, Stevens, A. Marshall, and R. Johnson.

Near a little swampy creek Mr Alexander called a halt. Here could be seen some ingenious prospecting appliances in the shape of a huge auger and a "sand-pump"; projecting from the ground was a piece of ordinary iron piping, two-inch in diameter. Mr Alexander explained, that this was sunk to a depth, of nine feet, resting on a hard scoria formation, after passing tlirough the hard top-soil and about live feet of sand. It was perforated ft the bottom, of course, to admit gas, similar to that tq be seen bubbling up in a score of places within a chain or so. B/ this time the pip» had been pumped clear of water, and an ominous subterranean rumbling was going on. A match was applied, and there shot up a fhme to a height of a couple of feel, A fettle \yas produced, and boiled; and a few minutes later Mr Alexander, who seemed brimful of energy and enthusiasm, served out refreshing tea to all hands. A few minutes were spent in examining the locality. On the top of the water could be see'i an oily scum, giving the " colors " of oil; gas bubbles were ignited in various places, and everyone seemed highly satisfied with Ihe indications. Just before leaving Mr Alexander pumped the well dry, and in thp water there seemed to be a color of oil; it may have been fancy, but several seemed to fanoy alike Experts aro ngrood that the Inglewood district lias every indioa'hn of being the centre of an oilfield, and great hopes are entertained of striking a good supply of petroleum without very deep boring. The company which holds options over this properly is offering to the public for oantribiition praotically Ihe whole of its shires; only three are givins lo properly owners for boring rights. Th"ro are no big directors' fees, or anything of tho kind. The company thus has a genuine ring about it, and investors may dopend on gettjng " a fair run for their money." Should operations suceoed, there will bo few to share the suceess; should they fail, all fail equally; no one shareholder (except the three mentioned) gets preferential treatment. Tho indications are said to be better even than those reported from Inglewood years ago, when there was considerable local oxciteinent, and no difficulty is oxpected in floating tho company. Friday's display should cause an increased demand for shares.