PETROLEUM NEWS

Taranaki Daily News, Volume L, Issue 59, 6 April 1907, Page 2

PETROLEUM NEWS

- I TUG BIRTHDAY WELL AIIAIN I TURNED OX. HUNS SUCCESSFULLY ALL HAY I YESTERDAY. 1 Early yesterday morning (.he Birthday well was again turned on. Oil came with a rush for a start, but after a few Hands lie™ taken, the (low eeased on account of the high pressure of gas. Having relieved its pent-up foree somewhat, the gas gave way to a How of oil, which ran continuously all day, being shut oil' at nvc o'clock in the evening. Larger outlet piping has been secured, and this morning it will be attached to the head of the'well, which will lie allowed to. run continuously, or, rather, until such times ns ihe 200 odd barrels and the other receptacles have, been filled.

It is proposed to clean out the well as soon as possible, preparatory to the public exhibition, which will be held as soon as things are in readiness. Tlut Mr. (ieorge Adams, the gentlema'n who lias been on a visit to Taranaki viewing the oil operations, is a person of considerable standing in the I petroleum world, is shown by a reference in Sir lloverton Redwood's worldwide standard book on petroleum, which runs as fololws:—"f am indebted lo Mr. (L'o. Adams, a well-known authority on petroleum in Oolicia and other countries, for correcting a portion of the proofs of this work.' Mr. Adams, who has no personal interest in any of the, oil companies, believes that Taranaki lias a big future as an oil producer, and is of opinion that the Taranaki company have a payable bor.iu the Birthday well, the only well so far on oil proper.

If there is one thing more than another tlwt may be claimed for the present directors of the Taranaki Petroleum Company, that t,hi|iur is straight forwardness of action in regard to everything appertaining to the operations at I lie works. They have taken the public into their confidence, and let shareholders and the public generally knowexactly the true position of all'airs. This was never 'more noticeable than during (lie past few weeks, when operations have been more than usually active. Whether the oil is the big' success we all hope it wil prove, or'resiilt iii disappointment, which wo would all deplore, no one with any regard for truth will be ablo to SH.V that the Directors of the parent company williagly misled shareholders or ilie pubjio in any matter connected with the operations, but, instead, that they acted all along In good faith. Th's being so. we eni£ uot understand the n.titude assumed by our evening contemporary, with its reputation for fair play, in reference to the reticence of the directors to take, the public into . its confidence over the present developments.. Had the Directors been acting oilier than in a .spirit of good faith, they might have easily, for instance, withheld the information concerning Thursday's disappointing show and waited for a more propitious time. The Directors, we feel sure have earned and enjoy the confidence of the fdiarehohlers and public, and while they aro so ready to supply from time to time the

reports that they do, and act as conscientiously as 'tiiey have acted and are acting, there seems to lis to be no justification for blaming them for withholding information or for endeavoring to create a feeding of dissatisfaction "with their methods.