PETROLEUM

Taranaki Daily News, Volume LII, Issue 155, 26 July 1909, Page 3

PETROLEUM

IBE TARANAKI COMPANY'S FIELD. % Mr. W. A. Simpson, manager of the i Taranaki Petroleum Company, reporting on July 22, stated that the production last week was 27 barrels of oil rui into tie concrete tank and five barrels need in the furnace. The week was a ' short one, owing to repairs being needed i on the plant. During this week they •were engaged for two days in pulling - out valves. This week's tally has not . yrt been cleaned up, so the quantity ■\ cannot yet be estimated. The work of ,' providing the new underground storage -■* tank is proceeding. ,-$.,: Work at No. 3 bore is progressing * favorably. The. bore has been reamel ,£.-to the bottom, and the steel shoe a-ai ~l 4 pieces of casing at tie bottom of the *fj bore are almost broken up. The man--2js< ager llopes to put in casing for shutting ,f£ off water next week. He intends to run £J- shifts at No. 3 with a view of making ~g> a test of the well at the earliest date. OIL AND FREEHOLD COMPANY.

f The directors of tbe Taranaki Oil and J> Freehold Company, Ltd., have pleasure c in furnishing the following information , for the benefit of their shareholders an. I •r the public generally. Boring has proeeeded steadily, and the country passed through has been almost wholly ot hard < solid formations, with very few breaks. ' The well is cased with 12-inch casing to a depth of 824 feet, and inside this, to a depth of 1140 fcet_with 0-inch casing. Water las bee'n effectually shut i off at the 1140 feet point. Drilling has been carried on from 1140 feet with the , 8-inch tool, and it has been decided to * ream out to the bottom and carry down the 9-inch casing. For some time past ' good, and constantly improving, "shows'' 5* of oil have been met with. During this week salt water has been cut, and the, indications generally are of an encouraging character. The directors make this plain statement of the facte within their own knowledge, and would add that, in their opinion, payable oil may .be looked for in the near future. They must, however, remind their fellowshareholders that their enterprise is a venture in which success is never certain until actually attained."