Page 4 Advertisements Column 2

Taranaki Daily News, Volume LIV, Issue 241, 11 April 1912, Page 4

THE SUBSCRIPTION LIST IS NOW OPEN. IT WILL DEFINITELY GLOSE ON OR BEFORE WEDNESDAY, ""' 24™ APRIL. 1912. ABRIDGED PROSPECTUS. This Prospectus Is being issued In Great Britain, New Zealand and Australia. A Copy of this Prospectus has hgen filed with the Registrar of Joint Stock Companies. The TARANAKI (i) OIL WELLS LIMITED. Incorporated under the Companies (Consolidation) Act, 1908, of Great Britain. CAPITAL - £400,000. 7 Divided into 400,000 Shares of £1 each. SUBSCRIPTIONS ARE NOW INVITED FOR AN ISSUE P 275,000 SHARES OF £1 EACH, AT PAR, payable as to ', v 2s. Per Share upon Application; *' 3s. per Share upon Allotment; And the Balance as and when required in Calls not exceeding ss. per Share, at intervals of not less than three months. OF THE ABOVE ISSUE SUBSCRIPTIONS FOR 150,000 SHARES ARE GUARANTEED. After payment of the cash portion of the purchase consideration the present will, if fully subscribed, provide a sum of about £2OO 000 for Working Capital, Payment of Preliminary Expenses, and the general purposes of the Company; 41,000 Shares are held in reserve for issue to provide further Working Capital if and when required. LONDON BOARD OF DIRECTORS: raE 3S E tonox F S.W 6 ' (ohain, " m> [o!lairmall (Lo!ldon Boani > Mutual life Assurance Society, Limited], MAJOR DUDLEY ALEXANDER, C.M.G., 6 St. James' Place, London, S.W. JOS ChSehurst LSF ° RD (Chairman Ebbw Vale Stee1 ' Iron and Coal Com P an y> Limited, and Hudson's Consolidated, Limited), Leesons, ANDREW L. HORNER, K.C., M.P., 34 Fitzwilliam Place, Dublin. , Advisory Board in New Zealand: C. CARTER (Chairman Taranaki Petroleum Company, Limited), Devon St., New Plymouth; H. J. OKEY; MP New Plymouth Technical Adviser: J. D. HENRY, 4 London "Wall Buildings, London, B.C. Bankers: PARR'S BANK, LIMITED, 52 Threadneedle St.reet, London, E.C. THE BANK OF NEW ZEALAND, 1 Queen Yictoria Street, London, E.C. London Solicitors: ALLEN EDWARDS & OLDFIELD, 16 Eastcheap, London, E.C. New Zealand Solicitors: GOYETT & QUILLIAM, Devon Street, New Plymouth. WESTON & WESTON, Brougham Street, New Plymouth. Brokers: HARRY FRANKLIN & CO., 23 Austin Friars, London, E.C. Auditors: DELOITTE PLENDER GRIFFITHS & CO., 4 London Wall Buildings, London, E.C. Secretaries and Registered Offices: THE OIL TRUST, Limited, 4 London Wall Buildings, London, E.C. PROSPECTUS. pT C °T TUpa f y , formed for the primary purpose of acquiring and operating the Boring rights of The Taranaki Petroleum Company Limited, over proved and oil-producing lands, and near the seaport of New Plymouth in Taranaki North T«LnS New Zealand. The Company acquires the oil-producing rights over property at tidewater, a drilling and' operating eaiUDmLt boring rights over three separate reserve territories carefully selected as the result of expert advice found Jl and gas. The total area over which boring rights extend is, approximately, 4,800 acres. cations of 011 Government Support, and Bonus of £IO,OOO. —The Government has from time to time made off?™ nf ftnnnn * „ (a) £2,500 to be paid on proof being submitted that not less than 250,000 gallons of marketable crude oil ha*'w, 1 '' 500,000 gallons; (c) £2,500 on 1,000,000 gallons; (d) the balance of £2,500 to be paid to the person or company wholw nrod i Eonl ° ,Vn g Plant ' 500,000 gallonS ° £ reflned mineral 0il; fte flrst Claimal " p£>« iot^reclr r e°peckve Preliminary Operations.—The Taranaki Petroleum Company, Limited, Brougham Street New Plvmmitii Wo™-7 i •, , . , capital, £150,000), was formed in 1906. Five wells have been drilled on the property to be opeWted bvSwZ ° (n °™ oil was secured under conditions fully described in the reports of the experts A fourth well has nn < i *i rm. three of these present flowing at the rate of 360 babels per week. In order that the Sneers mitht benefiT w ttVT We " S are at to), oil has been allowed to come to the surface by natural flow. On May 11th 1911 Se T refeiTed ment (£2,500) of the bonus on the production of 250,000 gallons of "marketable crul; oil.- WM Paid the &St inStal " Experts' Reports.—The British Empire Oilfields, Limited, having received most enprmr-nm'™ sioned Mr. J. D. Henry to conduct investigations. This gentleman had the assistance of well nL° 7 f propertie , s ' eommissociated with him in the professional work done in connection with these properties is Dr J M Bell d experlts » »nd asuntil recently, head of the Geological Survey in New Zealand. One statement made by Mr.llfnry raS6r) ' Wh ° W&S ' " The property, in a more conspicuous degree than any other of which I have a knowledge in the w • essentials of an oilfield in which one can with confidence recommend an investment of British and Colonial ramtni - it 5 pnn \ ary tion, oil which, as analyses show, is of the very highest quality, and a position at livery of plant and export of the crudeand refined products." ensunng the easy and economical deDr. Bell, in his Report, says: ''The geological structure of the Taranaki district, New Zealand, together with the production wW/* t, o£ , j , . . . , developmental work, indicates the existence of an important oilfield. Of prime importance in the the properties covered by this report, including as they do the Moturoa knowledge are wells yielding petroleum of the highest quality. . .These oil properties, which possess S- SeS capable of more expeditious and economical development than any others with which lam acouaintprf nil w™,? .. F position sideriug the geographic! position which the Dominion hold, both from ?° nvSSt of SJ'™ 0 ™ eXte ° S ' Te exploitation ° f C "W'« <*<**> » n»t promising Srprise for (Tin! Future Operations.—The primary objects of this Company will be:— • SPH -u. ectio ? up ; to - date Refiner y- (2) The immediate despatch to New Zealand of an expert drilli™ ™ immediate drilling of additional wells on the proven property. (4) The gradual development of the reserve terrSries /S* S® organisation of an oil sales department, and, generally, (6) The conversion of what has hitherto been a nSv E! ?! ♦ ( . modern oilfield business with ample finance and a thoroughly experienced management P 7 1 mdustry mto a The Minimum Working Capital (guaranteed by the Vendor Company under contract No ™;il +i,„ • • „ , technical advisors, enable this Company to carry out the above work in the most thorough and expLitious ma^ne^ 1011 Com Pany's Refinery.—The estimated cost of a refinery erected upon the property, and having a canacitv nf mnnn As the output is increased this refinery can be added to without any disturbance of the original erection ' DS * >Br ' IS Quality of the Oil.—Oil from the wells has been analysed by Messrs A. F. Craig &Co ofPaislev <wian,q m i . Report reads as follows g Vj0 '' 01 raisley ' Gotland. The conclusion of their "This is a crude petroleum of the most excellent quality both as regards the market vnliio nf . ~ . and the purity and character of these products themselves. The petroleum is easily handled and refiX aM ol ? tam ® d , from & paraffin can be extracted direct from the heavy oil from the first distillation without any chemicaUreatmlfiw 00 ' * - he soM cellent color and crystalline structure. 7 cnemicai treatment whatever, and is of ex"The spirit and finished kerosene are of first-class quality, water-white, and of good smell. This crude petroleum in purity closely resembles the old pure Pennsylvanian petroleum Hn+ nT M n_ . . ® ordinarily high proportion of solid paraffin wax which it yields. ' excels m the extra"We are aware of no natural petroleum which has been found to be so rich in this valuable product." Position of the Properties.—The plots on which the wells have been drilled are, on their western . the seashore of New Plymouth Harbour. A public road and the State branch railway connects 150 yards of and breakwater. x«*uway connects New Plymouth with the wharves The Company's Experts say:-"The geographical relationship of the field to the harbour, the land gradient and the depth of water at the loading point enable us to say that the property has unsurpassed positional advantages.", P MARKETS.—The well-known protective policy of the Dominion ensures operators an unassailable home market while when an export business has been organised, Australia should take all the surplus oil produced. Therefore these oil resources can be developed regardless of foreign operations or competition. ceveiopea Mr. Henry concludes his Report upon the properties as follows "The entire proposition can be recommended on the ground that it is complete in every detail embracing a* it th* Sftte !£p?re m '' rketing ° f Petr< " e,mi 4116 faVOraMe eC ° nomi(! ' Bd cmditiolls in 0M of the CoS tion SiXPe ° Ce ° n a ' lS " areS a,l ° ttea ° ther on appiicaciu Je h ofTroki°agl " £6 °° 0 ' taCIUSiVe ° f am °™ t Pa7aHe '° tte Britis!l Em P ire Mmited, but exIt is intended to establish a New Zealand Register of Shareholders in due course Dated this 28th day of March, 1912. Application for Shares in New Zealand and Australia will be received on behalf of the Company by the Bank of New Zealand at any of ite pnnapri Branches, or at the Offices of the TARANAKI PETROLEUM COMPANY, LIMITED, New Plymontt and by the principal Sharebrokers throughout the Dominion. dim Dy me i Special Note.—Since the Prospectus was printed SIR GEORGE CLIFFORD, Bart., Stonyhurst, CHRIS TCHURCH, and SIR JOHN LANE HARRINGTON, K.C.M.G., Chairman of the Oil Trust, Ltd., LONDON have consented to join the Board of Directors after allotment. , '