PETROLEUM NEWS.
THE TARANAKI COMPANY. Visitors to the wells this morning report an extremely satisfactory state of affairs. Nos. 2, 3, and 5 wells are flowing better than ever, and the pressure of gas is very great —in the opinion of some observers, greater than ever before. No. 7 underground tank at No. 2 bore is nearing completion. This is the largest underground tank yet excavated by the companv and will have a capacity nearly equal to two of the other tanks.
OIL SHARES RISTNG.
Mr. H. J. Brown received a cable from London vesterdav stating: "Shares in the Taranaki (N.Z.) Oil Wells, Ltd., are being purchased at a premium of 2s fid on the London Stock Exchange. It is expected that the price will go much higher." This must be considered good news. and shows that a strong demand exists in London for shares in all genuine oil propositions We understand, however. that for shares to b? at a premium liefore they are actually on the market. only applies to companies that are loked upon as first-class propositions.
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https://paperspast.natlib.govt.nz/newspapers/TDN19120418.2.20
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Taranaki Daily News, Volume LIV, Issue 247, 18 April 1912, Page 5
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179PETROLEUM NEWS. Taranaki Daily News, Volume LIV, Issue 247, 18 April 1912, Page 5
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