TARANAKI PETROLEUM CO.

Taranaki Daily News, Volume LI, Issue 281, 21 November 1908, Page 5

TARANAKI PETROLEUM CO.

The directors of this company furnish us with the following report: — Some little time ago the silt from fie mud vein near the oil seam in No. i .well became bo great that the oil became clogged with it, and while some three to four barrels of clean oil per day ■was obtained, yet about as much more Was so mixed with the silt that it had to 1)6 thrown away, making this seam of very little commercial value. It has therefore been decided to temporarily abut this oiff by going down to the level where thx? big flow of gas was obtained in No. 1 bore, or a little deeper if necessary; but it must be remembered that this course will n ot prevent the workhg of this seam later on by the aid of perforated casing. It might be as well to explain that in the case of No. 1 the water was not shut off, whereas in No. 2 the whole of the surface water down to about 2114 ft has been shut off; and, farther, it may be possible to shut • ff y gome of the salt water from the bottom if only some solid rock were encountered. , At No. 3 bore the work is going on as usual, and if some casing that parted near the bottom of the well is recovered, which it is hoped will be done shortly, this bore will be sunk a little deeper, •with the hope of shutting off the water, when the manager and the directors are sanguine of probably getting a largei flow than in any other of the bores. Shareholders may rest assured that they will be promptly notified if anything of importance occurs; but they must not think, if no reports are issued, that necessarily there is any stoppage of the operations, or that any slump has taken place. It was partly owing to the chairman's absence for some ten days that no reports have been sent m lately