PETROLEUM.

Taranaki Daily News, Volume L, Issue 60, 19 August 1907, Page 2

PETROLEUM.

BONITHON. BORING AT AN INTERESTING STACK A MIDNIGHT INSPECTION. The Bonithon bore at the west end of ilio town has from the outset oi' boring operations justified the sanguine hoiies ! of its backers, and the indications are 'of a most promisiug nature at the pre- : sent time, so much so that announcement may bo made at any time of tho i news that will prove the extent of the •petroleum deposits in this district. Oil Saturday a party of prominent -hareUolders in the company, including a well-known M.11.R. and others from Wellington arrived and shortly before 12 o'clock hist night proceeded to the bore, where an exhaustive demonstration was given at an early hour this morning. Our source of information leads us to believe that everyone was satisfied, but the public will have to draw its own deductions. No olliciai report lias beeu communicated.

TARANAKI PETROLEUM COMPANY'S WEEKLY REPORT.

The following is the weekly report from the Taranaki Petroleum Company's oil wells: At No. I nything has heen done during the last week owing to tho manager's whole attention being required at the other bores.

At No. 2 the Gin casing was taken out. and the badly dented length removed and a new one substituted. The work of putting back was commenced. A series of diilieulties were then met with in the shape of moving boulders and casings. Nearly the whole of the casing however, was got back on Thursday night, and the work of cleaning out commenced.

At No. ;) the work of cleaning out and j testing the bore fur watth" lias been go- E ing on all the week. The Gin easing has t been .lowered twice a few inches, and j ! still some water is coming in. The man- \ lager is not yet satisfied, and the easing will still be lowered carefully and tested ; from time to time until the water is fully shut off. The drillers have got a good hold of the (iin casing at No. 4 bore, but owing to the vast amount of quicksand coming in, and which holds the casing very tight, it has been found impossible to lift it, but by continual pumping of this Hand it is hoped to release it very shortly. In the meantime shareholders must exercise a little patience. There is nothing whatever to be .alarmed about, and in the manager they have a man of great resource, and one who only requires' time to bring each of the bores 1 to a successful state. Letters were received by the last mail strongly recommending the erection o£ . part of a refinery plant only; one capi n.ble of putting through 250 barrels per • day and refining 1000 gallons of benzine ; or motor spirit, for which there is a i great demand; 3400 gallons of best kero--1 seno and 500 gallons of second-grade > (used for oil engines), anil the balance 1 to be stored for further distillation, and l the making of lubricating oils and parai. (lin wax This plant erected and ready 3 for work would cost, with current exfc penditure. about two calls of 2s Od per ij share. The matter has not yet been e fully discussed by tlie board, but it is i, improbable that anything will be done d until either Nos. 2 and 3 is on oil, or ). both are on oil.