The Daily News SATURDAY, JULY 3. THE OIL INDUSTRY.

Taranaki Daily News, Volume LII, Issue 133, 3 July 1909, Page 2

The Daily News SATURDAY, JULY 3. THE OIL INDUSTRY.

It is with no desire to assist in creating a "boom" that we give publicity to tlic splendid prospects of the oil prospecting operations at New Plymouth. The management of the well's, and also the general public have learned from experience that no eventual good has resulted from premature announcements. Nearly everyone, however, has 'been aware tftat, to use a colloquialism, " tilings were looking up" at the. Petroleum Company's Xo. 2 bore, but fe,r were aware that its producing capacity lias been increasing ai so steady •, rate that during the past week about ninety barrels of "separated" oil hurt been secured. .Much less than IS barrels a day constitutes a payable well. It is not considered, cither, that the main deposit has been tapped; .that, it is believed, lies at a greater depth, necessitating further boring when the permanency of the V(':i ... j.esent being tapped has been thoroughly pjovert. But it is not alone at Moturoa that operations have reached an interesting stage. At the Oil and Freehold bore on the (arringtou iinurt the prospects are exceedingly bright, and alrcndv appreciable i|iiiinlilics of nil arc 'being drawn oil', all hough Ihe work of boring is being steadily proceeded with. Although no authoritative information is available from the Hartl-* bore, it is understood that the 'indications are ' promising. On the whole, therefore, while there is no evidence of local excitement, it cannot be denied that hopes • are running high, an.i mere is ... .core buoyant feeling than at/any period of the "gusher" boom. TSt'c knowledge that since that lime the water difficulty has I been overcome, no doubt has much to j do with the increased public' confidence. 1 It seems to us that while the prospects ' at Moturoa are so good, and while the i actual yield is so plentiful, it would j be the height of folly to allow any ex- ' pcriinentiiig with the well such as might I possibly result in undoing, for a more , ■ or less lengthy period, the present satis- , : factory position. As nil interested in the Xo. 2 bore are awnre, there has been a proposal that Mr. Berry should j be given control of the well, on condiI tionsjwt out by him..'with the object of proving, nii.lei- penalty, certain tlieo- J j lies held by him. Uiul the cireum- ', | stances been otherwise it would have' d been perfectly justifiable to give .Mr. Berry a fair opportunity of putting his |j ideas into ell'oct and getting the oil which he believed he could produce. Since his oiler was made, however, the conditions at the web nave undergone a transformation. At the time of the extraordinary meeting of shareholders, a considerable ipiantity of oil was being secured weekly, hut difficulty was experienced owing to the presence of foreign matter, which seriously hampered the free use of the pumps. Much of that difficulty has evidently since been overcome, and the flow of oil has steadily increased, until it has now reached n steady volume unprecedented hi the history of oil prospecting in the Dominion. •There is accordingly no i.eiusity to put Mr. Berry's theories nilo practice, for the oil he undertook to produce i is already being secured, fto long as matters continue to progress, no interference with the *,vstem of management s!ioulc^B sanc t'i fra e(l by the directorate. That ,-Wineii success should be at Jast reward M'""' perseverance of the compa'mjßo one, we feel sure, will be more