PETROLEUM NEWS.
SOME CONVINCING FIGURES. A local sharebrokcr Las recently issued a circular giving some very interesting figures. He shows Unit at present the wells are flowing 21.058 barrels per annum. On the analysis, and at present prices, one ton of oil, equal to 250 gallons of oil, would return when refined £lB 2s Oil. The erst of refining would be £2 lis, leafing a profit per ton of £ls lis Cd. Thus the 21,658 barrels of oil would equal 8638.54 tons, which at £ls lis Od per ton of refined products would realise in round figures £.5(1,670. On the paid up capital of the new company the return would therefore equal 10.25 per cent. This is on the present production of 00 barrels a day, but, according to authorities, wells could be. put down within an area of six acres to produce 1000 barrels daily. The profit on this basis can be easily worked out. It is stupendous.
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https://paperspast.natlib.govt.nz/newspapers/TDN19120422.2.16
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Taranaki Daily News, Volume LIV, Issue 250, 22 April 1912, Page 3
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159PETROLEUM NEWS. Taranaki Daily News, Volume LIV, Issue 250, 22 April 1912, Page 3
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