Page 4 Advertisements Column 2

Taranaki Daily News, Volume LIV, Issue 244, 15 April 1912, Page 4

THE SUBSCRIPTION LIST IS NOW OPEN IT WILL DEFINITELY CLOSE ON OR BEFORE WEDNESDAY 24 th APRIL. 1912. ABRIDGED PROSPECTUS. This Prospectus is being issued in Great Britain, New Zealand and Australia. A Copy of this Prospectus has been filed with the Registrar of Joint Stock Companies. LIMITED. Incorporated under the Companies (Consolidation) Act, 1908, of Great Britain. CAPITAL gltltWimt Divided into 400,000 Shares of £1 each. SUBSCRIPTIONS ARE NOW INVITED FOR AN ISSUE P 275,000 SHARES OP £1 EACH, AT PAR, payable as to 2s. Per Share upon Application; 3s. per Share upon Allotment; And the Balance as and when re-quired 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. Afterpayment of the cash portion of the purchase consideration the present will, if fully subscribed, provide a sum of about £200,000 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 OP DIRECTORS: fHB 88 UnnoI^S^loIdonVw 31 ' (Chairman) [Chairman (London Board) Colonial Mutual Life Assurance Society, Limited], MAJOR DUDLEY ALEXANDER, C.M.G., 6 St. James' Place, London, S.W. JOS Se B h^st LSFORD (Chaiman Ebbw Vale Stee1 ' Iro? and Coal Com P an y' Limited > a *d Hudson's Consolidated, Limited), Leesons, ANDREW L. HORNER, K.C., M.P., 34 Pitzwilliam Place, Dublin. , Advisory Board in New Zealand: CHARTER (Chairman Taranaki Petroleum Company, Limited), Devon St., New Plymouth; H. J. OKEY, M.P., New Plymouth Technical Adviser: J. D. HENRY, 4 London Wall Buildings, London, E.C. Bankers: PARR'S BANK, LIMITED, 52 Threadneedle St.reet, London, E C THE BANK OF NEW ZEALAND, 1 Queen Victoria Street, London, E.C. London Solicitors: ALLEN EDWARDS & OLDFIELD, 16 Easteheap, London, E.C. New Zealand Solicitors: GOVETT & 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. p ot .S 3 n Company has been 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 Sanak North sland New Zealand. The Company acquires the oil-producing rights over property at tidewater, a drilling and operSzW equi »t and a £," g Tt°7f I three se P arat , e . r f f ve territ ° rie * <*refull y elected as the result of expert advice founded up'fildd d gas. The total area over which boring rights extend is, approximately, 4,800 acres. indications oi on M S"!T?T* SU s P<>rt ' and ,?°? US Government has from time to'time made offers of £IO,OOO, allotted as follows: (a) £2,500 to be paid on proof being submitted that not less than 250,000 gallons of marketable crude oil has been wnti • fM Vwi ™ 500,000 gallons; (c) £2,500 on 1000000 gallons; (d) the balance of £2 500 fo be paid bonus. ° Wn gP ' ' ° nS ° f rGfined mlneral ° il; the fost Claimant necessary proo/is to HS . P Operations.-The Taranaki Petroleum Company, Limited, Brougham Street, New Plymouth New Zealand r™™™! pital, £150,000), was formed in 1906. Five wells have been drilled on the property to be operate! by t£ Comply n three of Zs oil was secured under conditions fully described in the reports of the experts. A fourth well has now struck ou The wells are at present flowing at the rate of 360 barrels per week. In order that the pioneers might benefit by the Government bonus referred to), oil has been allowed to come to the surface by natural flow. On May 11th 1911 the morieer Cn™™™ «,„ I „♦ • I T ment (£2,500) of the bonus on the production of 250,000 gallons of ''marketable crude oil.- P 7 P ' *** W^' • Experts/Reports.-The British Empire Oilfields, Limited, having received most encouraging reports on the properties commis sioned Mr. J. D. Henry to conduct investigations. This gentleman had the assistance of well-Wn New ZealancexpeS anTa -" sociated with him m the professional work done m connection with these properties is Dr. J. M. Bell (Messrs Bell & FinSrl, wlm wf« until recently, head of the Geological Survey in New Zealand. One statement made by Mr Henry reads:- } ' ' livery of plant and export of the crude and refined products." Dr. Bell, in his Report, says: "The geological structure of the Taranaki district, New Zealand, together with the production which has attended initial «AYral/vmYiA-n'+al nrAvb- +U* twin*-*™,** «.* «« j •■»« * * —■ - * ****« xu.ivi.ai 't^B'XO'l^^'H^-Btiil'i^ SBSniMinffiflaSi njEjjjwJMjiM^CTjjTnjM fSmBffIITiBiBCTiTOfJCTBTIiBBnrai vestment of capital." Future Operations.— The primary objects of this Company will be:— any s holdings affords a most promising enterprise for the iniliMjlainiim.'.f:'.7»■.•H»» « imii i »111 > iTjJ?j ip j j modern oilfield business with ample finance and a thoroughly experienced management. The Minimum Working Capital (guaranteed by the Vendor Company under contract No 3) wm m me ol technical advisors, enable this Company to carry out the above work in the most thorough and expeditious mannerT"" "* ""* KJVmpaiiy b Ao eSti TJv C °f ° f a re^ er y er f + t6d "P on + the P™P ™* a capacity of 10,000 gallons per day, is £23 000 As the output is increased this refinery can be added to without any disturbance of the original erection. ' RepoSsls^ t fo e ilowsT- 1 *" ****"* * A ' & °°." ° f PaMey ' Seotland - The conclusion of their "This is a crude petroleum of the most excellent quality both as regards the market value of the products obtained ft™, it and the miritv and character of these wrndii«t« themselves The wetrni™™ ; B «„„;i„ x..„ J ,. J .. , - proaucis ODtamea from it rK^iiMlßffliffSS^WTtHtfiTHTTf^ cellent color and crystalline structure. "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, but greatly excels it in the evt™ ordinarily high proportion of solid paraffin wax which it yields. ' * J e ceis " m the extra " "We are aware of no natural petroleum which has been found to be so rich in this valuable product." and breakwater. 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." 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. 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 as it does the production refining and marketing of petroleum under the most favorable economic and trading conditions in one of the most progressive Colonies of the Empire." The Company will pay a brokerage of sixpence per Share on all Shares allotted to persons other than sub-underwriters on application forms bearing a broker's stamp. The preliminary expenses are estimated at £6OOO, inclusive of amount payable to the British Empire Oilfields, Limited but exclusive of brokerage. It 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 its principal Branches, or at the Offices of the TARANAKI PETROLEUM COMPANY, LIMITED, New Plymouth, and by the principal Sharebrokers throughout the Dominion. Special Note. —Since the Prospectus was printed Sm GEORGE CLIFFORD, Bart., Stonyhurst, CHRISTCHURCH, 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.