The Daily News. SATURDAY, JANUARY 29. OIL PROSPECTS.

Taranaki Daily News, Volume LII, Issue 301, 29 January 1910, Page 4

The Daily News. SATURDAY, JANUARY 29. OIL PROSPECTS.

"New Plymouth people now take the "downs'' and the "ups" of oil boring operations at Moturoa philosophically, and "shows" that would have sent the whole community into the seven eh heaven of delight throe years ago. and sent shares leaping century ward-, are now received with stoical contentment, and satisfaction. But yesterday the -e were not wanting signs that excitement is not a lost trait with local oil investors, and that the sceptic is still a veryminor quantity indeed. Certainly the reports that were current about town during the day were sufficient to warrant a rapidly rising "barometer of hope. As the day wore on reports from Moturoa told that Xo. 2 bore—in which, during boring operations the previous day, an oil and gas vein was struck shortly before six o'clock—was steadily increasing its yield. And the best of it was that rumor in this case had not exaggerated at all. Not within tile history of the pro-'nt comnanv has there ever been anything like the same activity at any of its bores, and if ever it were doubted that the policy was to bo.-e deeper and" still deeper, all doubts are now dispelled. At the same time, we are not venturesome to suggest that u main supply has been struck, but undoubtedly it has been shown that at the increased depth—now a little over 2GOU feet—the indications improve with every foot. From six p.m. on Thursd iv till six p.m. yesterday over (10 barrel:* (2.320 gallons) of pure oil were ejeet-d and stored, and the o:l wa-- still ilowing at a late hour last nigiu. The result must be regarded as eminently satisfactory, and will lend added interest to I the prospecting operations now being conducted in the district. We only hope the pressure at this bore will he, maintained and the Mow of oil continued. Then the success that has been awaited for so long a period wi ' be within grasp.