THE OILFIELDS.

Taranaki Daily News, 7 September 1922, Page 4

THE OILFIELDS.

TARANAKI WELLS SOLD. “VIGOROUS DEVELOPMENT.” A new life of activity is promised for the New Plymouth oil-wells. An important transaction has been concluded which, it is stated, will result in a new effort to obtain oil in payable quantities. The London liquidator, through his New Zealand agent, Mr. E. Gilmour, New Plymouth, has sold to Messrs. P. A. Hadley and A. W. Donald, of Auckland, the whole of the Dominion assets of the Taranaki (N.Z.) Oil Wells, Ltd., consisting of freeholds, leaseholds and grants, four wells (three of which are on oil), plant, machinery, buildings, etc. The purchaseprice is not disclosed, but the transaction was for cash. The policy of the purchasers is for vigorous development on the most up-to-date lines prevailing on the American fields. BEFORE THE DEAL. A QUESTION IN THE HOUSE. (By Wire—Parliamentary Reporter.) Wellington, Last Night. In the House, Mr. S. G. Smith (Taranaki) asked the Minister of Mines whether, in view of the the property and plant of the Taranaki (N.Z.) Oil Wells Company (Ltd.), in liquidation, was low up for sale, the Government would consider urgently the question of getting in touch with representatives of the AngloPersian Oil Company, or other suitable companies, with the object of endeavoring to induce those possessed of expert knowledge and capital to come to this country and develop the petroleum deposits of Taranaki. The Hon. G. J. Anderson (Minister of Mines) replied: “It is considered inadvisable for the Government to act in the direction desired by the member, but the attorney for the liquidator for the company in liquidation has been advised of the names and addresses of the representatives of the Anglo-Persian Oil Company and other companies, so that he may get into touch with them, with the object of soliciting their interest in the assets now being offered for sale by such attorney.