PETROLEUM.

Taranaki Daily News, Volume LII, Issue 11, 6 February 1909, Page 5

PETROLEUM.

TAKANAKI PETROLEUM COMPANY'S REPORT. The chairman of directors (Mr. 1). Berry) reports as follows: While this week's report is not as good as anticipated, yet everything at No. 2 is in a satisfactory condition, and results may eventuate at auv time. There stfcins some uncertainty as to at] what depth No. 1 burst out, as no very J strict log was kept, but No. 2 tliiJ morning being down to 2347 feet, it wnl decided to stop drilling and clean tl well right out and lower the casing. Tlifl gas seemed to get stronger just u drilling ceased. On Wednesday blew mud and oil right to the top the derrick, smothering everything everybody in the derrick-house. The new underground tank is Hearing completion. It was found necessary to use concrete for the sides and bottom, as play sufficiently good could not be obtained, but the top, -r roof, is covered with the clay from the excavation. The tank will 'hold about 25,000 gallons ami will be air-tight, so that the volatile parts, such as naphtha, etc., will not be hist as now. The 4000 gallon tank is nearly full of oil, and the other two about half-full. Notwithstanding that oil has been going out in quantities of from two to six barrels at a time, there must be close on from 17,000 tu 20.01 Ml gallons in stock. The bands having been taken away from No. 3, and the water there not yet tested, there is nothing to report about this bore. , Should tltere be anything of importance an interim report will be made dur* next week.