PETROLEUM NEWS.
OPERATIONS AT MOTUROA. i Keen interest is being taken in the oilfields, and visitors were coming and going all day yesterday. Mr." Keith reported to Mr. Carter, chairman of the Taranaki Petroleum Company, this morning that between 4 p.m. on Friday and noon to-day No. 2 well has yielded 00 barrels. As the flow was stopped for the greater part of Monday, this leaves a period of barely fi,ve davs, so that it will be seen the flow is .increasing. At No. 3 bore the depth is now 2077 ft, and good country is being penetrated. At No. 1 the eight-inch casing is down 550 ft. and good progress is being made with reaming. Ai)plications for preference shares are cpminc in very ifreely. All applications must be sent in to-day.
The preference shares under offer to the ahireholdera in. the Taranaki Petroleum Company are certainly tempting a* regards terms of payment. Some twoyears and ten months elapse from the time the application is made to the final payment. What the Taranaki oilfield may be 'by that time is hard to contemplate.
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https://paperspast.natlib.govt.nz/newspapers/TDN19100708.2.17
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Taranaki Daily News, Volume LIII, Issue 76, 8 July 1910, Page 4
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183PETROLEUM NEWS. Taranaki Daily News, Volume LIII, Issue 76, 8 July 1910, Page 4
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