PETROLEUM NEWS.

Taranaki Daily News, Volume LIV, Issue 153, 27 December 1911, Page 6

PETROLEUM NEWS.

"Tlio prospects of the New Plymouth fields are an good us I 'have ever seen anywhere, and I have visited oilfields all ] over tin* world," remarked Mr. 11. J. Brown, managing director of the Oil Trust, Ltd.. London, who has been on a visit to Wellington, after a thorough in- ; spection of the Taranaki fields (says the Wellington Times). Not before he saw for himself did he think the prospects were so great as they were. There was no gamble at all. as it : had been proved that the oil was there. It was only a question how far it extended. The company was going to put down a big well, boring OOOOft if necessary. No. 2 well was still giving 100 barrels a week, but he felt sure 100 barrels a day could be pumped from the well. It would pay to erect a refinery, aiul this the company proposed doing. At least 5000 ft or (iOOOft would be put down. He did not fear competition from outside, owing to the protection afforded to New Zealand oil. and because refined it was 20 per cent, better than any other oil that he knew of. New Plymouth was admirably situated in regard to shipment when compared with American fields, as tank steamers could lie in security whilst being laden from a pipe line not more than a mile away, whereas in America pipe lines were hundreds of miles long.