PETROLEUM NEWS
Ea.riy in the week a cabled enfnfiry was received by the'Taranaki Petroleum Company from London,"asking the terms on" which the company would be prepared to sell its rights and propertie.;. The matter was considered at last night's meeting of the directors, and it was decided to cable a preliminary offer to England, subject, however, to endorsement of the terms by the company'- shareholders. Great activity continues to be showii at No. 3 bore, which has now reached a deplh of 2730 ft. Several big blowsout occurred yesterday, considerable quantities of oil being ejected.
Gooi progress is also being made at No. 2, where tlie flow of oil between thy ensiling continues without intermission. At N r o. 1 the work of "cleaning-out" is getting on well, and the casing is eonne.'U-d lip to a depth of over 2000 ft.
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Taranaki Daily News, Volume LII, Issue 337, 12 March 1910, Page 4
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141PETROLEUM NEWS Taranaki Daily News, Volume LII, Issue 337, 12 March 1910, Page 4
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