The Daily News WEDNESDAY, AUGUST 18. NEW PETROLIA.

Taranaki Daily News, Volume LII, Issue 176, 18 August 1909, Page 2

The Daily News WEDNESDAY, AUGUST 18. NEW PETROLIA.

The splendid prospects of the oil industry in this' district suggest the jiossibility of the New Plymouth of the future becoming the New Petrolin of the South. The extremely satisfactory reports of progress at the No. 2. and No. 3 bores of the Taranaki Petroleum C'oni.pany make reading that will be assimilated with pleasure by everyone who has the advancement of the district at heart. At No. 2 bore, Mr. Berry has been extremely fortunate in withdrawing and putting back the major portion of the casing without mishap. The quantity of oil in the bore is' steadily Increasing, the only difficulty of account being the shutting off of the water as effectually as was done by Mr. Simpson. So far as we are aware no serious doubt need be entertained on that score, and within a week or two the well should be in a position to demonstrate what it is actually capable of prod;: ig.

The extended trial recently mail-.' by Mr. Simpson proved that, although no ■special efforts had been made to tap each oil seam or to secure the maximum inflow into the pipes, the -well had a [producing capacity of fifteen barrels a day. Mr. Berry has very considerably increased the perforations of the casing at the various oil veins, and confidently anticipates securing up to 50 barrels a day. As considerably lei's tlian 10 barrels a day i- a payable well, it will be understood what the realisation of Mr. Berry's anticipations will mean to the industry in New Zealand. Even more cheering arc the splendid prospec U of an early success with respect to the operations' at the ,No. 3 bore. Here Mr. Simpson has succeeded in lowering practically the whole of the case, and, contrary to general anticipations, there is more than a reasonable hope that water has' been shut out. And what is even more ii..;lerial, a splendid sample of oil is being secured. The samples, which we have by us', apparently contain a maximum percentage of wax, the oil congealing solidly within a couple of minutes of its ejection from the pipes. So far as is apparent to the layman, the product differs somewhat in its components from the oil at the other bore, and is 1 generally regarded as being of a very superior grade. The pressure of gas is almost excessive, rushing from the mouth of the bore to a considerable height; everything, in fact, pointing to the possibility of highly interesting developments at any moment. At n° time in the history of the company, or, indeed, in the history of oil prospecting operations in the Dominion, have the expeetatons had nearly as much to justify them. To those who have closely followed the fortunes of the industry during the past few months, the brightness of the outlook has been apparent, but the past experiences of blighted hopes' after a momentary period of success has fortunately prevented anything in the •nature of "booming." Tt is far bettor that the success of the enterprise should be thoroughly proven before, as it were, the rest of the Dominion were taken into our confidence. When that time arrives, and oil is being steadily produced in appreciable quantities', there need be no hesitation in inviting the co-operation of speculative capital throughout the Dominion to establish the industry on a thoroughly commercial basis. Meanwhile we congratulate the respective managers on the splendid progress they have and are making at the bores; and the shareholders, particularly the large number of local investors' who have persistently declined to part with their holding's even when to have done so appeared the only .means whereby they might have saved portion (if their capital. Everything points to the realisation at an early date of a more than satisfactory reward fo r their enterprise and patriotic support.