PETROLEUM.

Taranaki Daily News, Volume LI, Issue 329, 22 January 1909, Page 4

PETROLEUM.

INTERVIEW WITH A TARANAKI EXPERT. "In oil boring generally, the prospects have never been' so bright as they are at the present time," remarked Mr. L. Keith, the well-known Taranaki oiluoring expert, at present on a visit to Gisborae, in the course of an interview with h reporter of the local paper.. Alt Keith is in charge of operations h lOnuiceUion with the Buinuion well—the deepest bore in New Zealand. Speaking about this well, ..Mr. Keith stated that the bore"was getting into very good oil hearing country, rather soft sandstone lor the last IUO feet. As they went down the formation was getting harder, and the prospects were as good as anv well started. Doling had been suspended for the, past few mouths, but, as reJeeutly announced, the cuurpany was . being reconstructed with a capital of [ £25.000, and he hoped to resume operations the first week in February. Mr. Keith stated that a fortnight ago the Taranaki Company had drawn as much as 10(1 barrels of oil from their No. 2 bore. Complaint* bad been made of the insufficiency of information supplied to the public, but they could be quite assured that any detail's given by the manager, Mr. W. A. .Simpson, were absolutely correct. Oil shares, he added, mere standing linn. Taranaki had gone through much excitement, but shareholders now had become c]uito sanguine that oil was beyond doubt. Boring operations in Taranaki, Mr. Keith explained, have been confined to ■x comparatively Muall area. The Taranaki Company's 1. 2. 3 and 5 bores were all within biilf'a mile of each other, whilst the No, i bore was only a mile away. The Jionitlion bore was about a 'mile and a-i|uarti r from the Moluroa bores, whilst the Curriugton road bore (down about 850 ft) was four miles from .Moturoa No. 2. The .Medley bore has going down' about seven miles awav to the eastward, and had reaeheil 1500 ft, where the "'show'' was fairly good. The Inglewood Company, who had concluded recently that there was no oil in their bore, bad since decided to re-float their company, and to start operations at Mokau, and proposed commencing shortly. As an oil-lioring expert, Mi'. 'Keith has bad wide and lengthy experience. I Brought, up on the Canadian oilfields, he was selected out of several thousands by an English company seven or eight years ago to undertake work in (lalatea. Austria, and in Germany, where he was associated with Mr. Ceo. Adams, a wvllknown figure in the world's oil-boring ventures. The Austrian wells. Mr. Keith added, were the steadiest producers in the world. Subsequently he was engaged in deep artesian boring in New South Wales, and about two years ago be joined the Taranaki operations. Questioned as to his opinion upon the Xew Zealand wells, as compared to those be bad seen in other parts, Mr. Keith stated that the formation they bad gone through in Taranaki, when they hud cut through the surface, was very similar to the formation experienced in Austria.

Speaking about the disposal of the present supplies of crude oil, Mr. Keith stated there was a. market for it all, especially if a regular supply could be assured.' It was mostly utilised for fuel, and in this respect alone lie considered a 411-gallou barrel ecpial to from ■M to 'UO cwt. of coal. The oil was worth 4'/ L .(l per gallon alone at the bore. The ipiestionof a relinery was an expensive item, especially with the Xew Zealand labor laws, and could not, be looked at under an outilay of '.E20,00U. which (would not,be justified until mi adequate supply was tapped. The oil was rich in. bv-prodects. vaseline, benzine, etc., and he produced an admirable sample of the latter, roughly extracted. Asked about operations at (iish'irnc. | Mr. Keith remarked that he was not, in 'any wav connected therewith, nor had he'any intention of tendering under the conditions as they stood. From what lie could gather, indications in (iisborne of obtaining oil were fairly good, whilst the oil was better, or as good at all events, as the Taraiinki article, which was one of the verv finest, inasmuch as it .only held one per cent, of waste. Oilboring was an expensive item, and local sharenofdcrs should not, he urged, be. downcast if they made a failure in one plaee. Having ascertained there was' .id in the locality, by sticking to it they would be bound to strike it. Tavanaki people generally conceded the prospects in (iisborne were equally as good as theirs but pending actual operations being'started, they were fully occupied with their own concerns. Should, however, a sternly How of l.i barrels per day be obtained.' there would be. he was confident, no lack of capital forthcoming in the matter of further development.