PETROLEUM.
THE MEXICAN OIL FIELDS,
By Cable—Pre«» Association—Copyright. London, August 25. Messrs. Weetimin and Pearson Have ordered 20 tank steamers, costing £3,000,01)!), to convey oil from the Mexican oil iie.ida, in which they are interested.
NGAM.OTU OIL FIELDS, LTD.
According lo the circular issued by the hgam-otu Oil Fields, Ltd., whose proposition is at present oil the market, the company lias the option of the only freehold property in the present proved oil iields. The secretary has prepared a statement showing the profits the shareholders of the Ngamotu Company will gain from the oil won from Moturoa ( freehold aa compared with the paying of royalties. Four or more wellp will 'be drilled on the 'half-acre secured in the ' present proved oil fields by the Ngamotu Oil Fields, Ltd., and, supposing each well ] produces ail equal How to No. 5 (it is confidently anticipated the outflow will be. much greater, as properly constructed commercial wells will be drilled, and not prospecting bores), then the capital value of the half acre of proven oil land ( would (it is pointed out) at least be equal to £24,800. Again, when the negotiations for the purchase of the property of the Taranaki Petroleum Co., Ltd., were in progress, it was stipulated that if oil was struck at No. 5 bore before completion of sale an extra sum should be paid. It will thus be seen that the directors of the Ngamotu Co. were wise in securing this property for £3OOO, and ensuring larger profits for the shareholders. Great expense will be saved in drilling, as it has been arranged with the Taranaki (N.Z.) Oil Wells Co., Ltd., to supply all gas for fuel purposes required by the Ngamotu Oil Fields, Ltd. It Has also (been arranged that it will buy the company's output of oil at market rates, or refine it on a commission, and as the refinery will be erected about 300 yards away from the property of the Ngdmotii Oil Felds, Ltd., the cost of delivery will be reduced to a minimum.
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https://paperspast.natlib.govt.nz/newspapers/TDN19120827.2.18
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Taranaki Daily News, Volume LV, Issue 85, 27 August 1912, Page 4
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339PETROLEUM. Taranaki Daily News, Volume LV, Issue 85, 27 August 1912, Page 4
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