Page 6 Advertisements Column 1

Taranaki Daily News, Volume LIV, Issue 249, 20 April 1912, Page 6

THE SUBSCRIPTION LIST IS NOW OPEN IT WiLL DEFINITELY CLOSE ON OR BEFORE WEDNESDAY " 24™ APRIL, 1912. ABRIDGED PROSPECTUS. This Prospectus Is being issued In Creat Britain, New Zealand and Australia. A Copy of this Prospectus has been filed with the Registrar of Joint Stock Companies. The TARANAKI (*"1) OIL WELLS LIMITED. Incorporated under the Companies (Consolidation) Act, 1908, of Great Britain. CAPITAL - £400,000. % Divided into 400,000 Shares of £1 each. SUBSCRIPTIONS ARE NOW INVITED FOR AN ISSUE F 275,000 SHARES OF £1 EACH, AT PAR, payable as to 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 £200,000 for Working Capital, Payment ®f Preliminary Expenses, and the general purposes of the Company; 41,000 Shares are held im reserve for issue to provide further Working Capital if and when required. , LONDON BOARD OF DIRECTORS: IBS EARL OF RANFURLY, G.C.M.G. (Chairman) [Chairman (London Board) Colonial Mutual Life Assurance Society, Limited] 33 Lennox Gardens, London, S.W. . MAJQIt DUDLEY A.LEXANDER, C.M.G., 6 St. James' Place, London, S.W. JOSEPH BRAILSFORD (Chairman Ebbw Vale Steel, Iron and Coal Company, Limited, and Hudson's Consolidated, Limited), Leesons Chislehurst. ' ' 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, 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. Solicitors: ALLEN EDWARDS & OLDFIELD, 16 Eastcheap, 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. PROSPECTUS. Objects.—This Company has been formed for the primary purpose of acquiring and operating the Boring rights of The TaranakPetroleum Company, Limited, over proved and oil-producing lands, and near the seaport of New Plymouth in Taranaki North Island' New Zealand. The Company acquires the oil-producing rights over property at tidewater, a drilling and operating equipment and boring rights over three separate reserve territories carefully selected as the result of expert advice founded upon indications of nil and gas. The. total area over which boring rights extend is, approximately, 4,800 acres. ■ ( FoIST? 11 SU j POrt ' aad ® onus of £10,000.-The Government has from time to time made offers of £IO,OOO, allotted as follows: W *2>500 to be paid on proof being submitted that not less t.lfan 250,000 gallons of marketable crude oil has been won ■ (M £2 500 on 500,000 gallons; (c) £2,500 on 1000000 gallons; (d) the balance of £2,500 to be paid to the person or company wLTs't produces by hu or its own refining plant, 500,000 gallons of refined mineral oil; the first claimant giving necessary proof is to receive respective ,u!f!lS^ era f° M 7 T l T c a T ld Petroleum Company, Limited, Brougham Street, New Plymouth, New Zealand (nominal capital, £150,000), was formed in 1906. Five wells have been drilled on the property to be operated by this Company; in three of these oil was secured under conditions fully described m the reports of the experts. A fourth well has now struck oil 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 (above referred t0),..0i1. has been allowed to come to the surface by natural flow. On May 11th, 1911, the pioneer Companv was mid thp W Wal ment (£2,500) of the bonus on the production of 250,000 gallons of "marketable crude oil." • Exp e British Empire Oilfields, Limited, having received most encouraging reports on the properties commis sioned Mr JD. Henry to conduct investigations. This gentleman had the assistance of well-known New Zealand experts and associated with him m the professional work done in connection with these properties is Dr. J. M. Bell (Messrs Bell & whn until recently, head of the Geological Survey in New Zealand. One statement made by Mr. Henry reads' T ' " The: propertyin a degree than any other of which I have a knowledge in the Colonies, has the primary essentials of an oilfield in which one can with confidence recommend an investment of British and Colonial capital- it has nroduc tion, oil which, as analyses show, is of the very highest quality, and a position at tidewater ensuring the easy and economical de livery of plant and export of the crude and refined products.'' Dr. Bell, in his Report, says: ''The geological of the Taranaki district, New Zealand, together with the production which has attended initial developmental work, indicates the existence of an important oilfield. Of prime importance in the light of present knowledge are the properties covered by this report, including as they do the Moturoa Block, which fringes New Plymouth Harbor and encloses ' wells yieling petroleum of the highest quality. . These oil properties, which possess great potential value, are from thrir pos tion capable of more expeditious and economical development than any others with which lam acquainted. Oil production here con siderag the geographical position which the Dominion holds both from commercial and defence standpoints possesses advantages; and the more extensive exploitation of your Company's holdings affords a most promising enterprise for theTi vestment 01 G&pit&it Future Operations.—The primary objects of this Company will be:— (1) The erection of an up-to-date Refinery. (2) The immediate despatch to New Zealand of an expert drilling- staff (3) The immediate drilling of additional wells on the proven property. (4) The gradual development of the reserve territories ' (5) The torganisation of an oil sales department, and, generally, (6) The conversion of what has hitherto been a purely local industry into a modern oilfield business with ample finance and a thoroughly experienced management. The Minimum Working Capital (guaranteed by the Vendor Company under contract No. 3) will, in the opinion of the Companv's technical advisors, enable this Company to carry out the above work in the most thorough and expeditious manner. Refinery.—The estimated cost of a refinery erected upon the property, and having a capacity of 10,000 gallons per dav is £23 000 As the output is increased this refinery can be added to without any disturbance of the original erection. ' '■ Report^aLts^onowsT- 11 analySed by MeSSrS A ' R Crai S & Co " of Scotland. The conclusion of their . a crude petroleum of the most excellent quality both as regards the market value of the products obtained from it and the purity and character of these products themselves. The petroleum is easily handled and refined at loweostandthesolid paraffin can be extracted direct from the heavy oil from the first distillation without any chemical treatment whatever and is of ex cellent color and crystalline structure. <uiu is ui ex"The spirit and finished kerosene are of first-class quality, water-white, and of good smell. "This etude petroleum in parity closely resembles the old pure Pennsylvania!, tat greatly excels it in the extmordinarily high proportion of solid paraffin wax which it yields. "We are aware of no natural petroleum which has been found to be so rich in this valuable product." Position of the plots on which the wells have been drilled are, on their western boundary, within-150 yards of anVbTetlTater tp brßnCh TaSL ™ y C ° nneCtS New PWuth with the wharves The Company's Experts say:—"The geographical relationship of the field to the harbour, the land gradient and the rWh nf 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 tlke fte snrp,us oil prod " oed - oil Mr. Henry concludes his Report upon the properties as follows SiXPmM »" Sl,arc « a,!S "" reS «•» on applieaelusive * I "!IISeS arc eSt ™" ted at £6OO0 ' imlnsive of W* '» tl.c British Empire Oilfields, Limited, tat ex- „ 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 Zeiland at any of its principal Branches or at the Offices of the TARANAKI PETROLEUM COMPANY, LIMITED, New Plymoutt and by the principal Sharebrokers throughout the Dominion. ana oy tne Special Note.—Since the Prospectus was printed SIR GEORGE CLIFFORD, Bart.. Stonyhurst. CITRTR TCTTURCII. and SIR JOHN LANE HARRINGTON, K.C.M.G., Clifiinnnn of the Oil Trust, Ltd. LONDON Lave consented to join the Board of Directors after allotment. > •> > ■ . ~