PETROLEUM NEWS.

Taranaki Daily News, Volume LIII, Issue 46, 3 June 1910, Page 5

PETROLEUM NEWS.

A LETTER FROM HOME. THE TARANAKf COMPANY. The directors of the Taranaki Petroleum Company at their weekly meeting last night received « letter from a firm of London ibrokers, asiking to be entrusted with the negotiations for disposing of the company's property if it was desired to sell, and they prefaced their letter iby saying: '"Your samples of crude petroleum have been ibrought to our notice by our friends the principals of the Board of Trade in London and we are particularly struck with the possibilities of your property." This is an evidence that the industry on this side of the globe is receiving consideration from very substantial people in the Old Country. The letter adds that at date (20th April) groat interest was being ta'ken in all oil propositions. MANAGER'S REPORT. The manager reported that the drawing of the casing at No. 2 was proceeding satisfactorily. Owing, of course, to the casing being taken out, no oil developments at this bore were possible, but still the flow between the casings was as strong as ever, and the gas was more in evidence than heretofore. At No. 3 the bore was down to 2280 ft. and twice during Thursday oil and \\ iter ■were thrown up over the top of the derrick, and four barrels of oil saved During the week fifteen barrels of oil were secured at this bore, and indications "were apparent th-it the quantity of oil in this bore was increasing daily. It was decided to make arrangements, if possible, for the Hon. T. Mackenzie, Minister of Agriculture, to visit the works on Wednesday next. The chairman reported that a space would be secured in connection with the Tarana'ki Winter Show, and that an exhibit representing the different phases of the industry would be made. A miniature refinery would be set up in the showroom in connection with the exhibit, and with it would be placed petroleum in all its stages, from the crude petroleum to the refined kerosene, with all its by-products.