PETROLEUM

Taranaki Daily News, Volume LIV, Issue 274, 16 May 1912, Page 2

PETROLEUM

Mr. J. H. Young, who lias been managing the Ciisborne Oil Company's operations at Waitangi Hill for the past couple of years, interviewed by the local Herald, stated: —Up to the present no well on this coast has reached a depth sufficient to prove whether oil exists in payable quantities or not. No one, I admit, can stand on the surface and positively say what exists beneath, but, judging by a careful study of the surface indications, and considering the experience gained from the boring operations conducted on Waitangi Hill, I am convinced that a good well will be brought in by the first drill that reaches beyond 2000' feet. "Big gushers are more than possible," continued Mr. Young, "but tihey are often more sensational than desirable, being expensive ito handle, and often choke themselves and do other damage. Consistent or steady producing wells of a less calibre prove more satisfactory. ' "Developments are pending in the oil business ,in New Zealand, and I am sure there is something big coming in the near future. lam looking forward to seeing a profitable industry created, not only in Taranaki, but on tho .East Coast as well."