PETROLEUM NEWS.

Taranaki Daily News, Volume LIII, Issue 71, 2 July 1910, Page 4

PETROLEUM NEWS.

THE MOTJJKOA FIELD. ; The results at -s T o. 2 bore have been gratifying, 94 barrels of oil having' been saved during the week ending av 4 o'clock p.m. -yesterday. The oil flow at night is estimated to be one-third greater than the Wow by day. The directors will ask the Onvernment to alow Dr. Bell, the Government geologist, to again visit the district during the next few weeks in order to report on the field. ' The circulars sent out by the direc-' tors have already had excellent results, Many favorable answers have boon received. Shareholders are advised that the circulars should I, P j„ the hanos of the directors by the Bth inst. The directors have decided that no further negotiations for the sale of the property will be conducted until replies to the circulars a*e in their hands. The direc 1 tors have been asked to forward copies of the circular to London. I

It is considered that the very large supply of natural gas and the value of oil as a fuel for fie power supply will greatly enhance the prospects of the ironsand industry. Its utility hi the smelting of iron for making steel cannot be exaggerated. I

Mr. Elwin has been cordially thanked for the -manner in which he represented, the directors and the company at the, Palmerston North (show. The exhibits' will be on view at,the Hawern Show. I