CHAIRMAN OPTIMISTIC
"I am very hopeful that good results will attend the New Zealand Petroleum Company's drilling campaign in New Zealand in the near future," said the chairman of directors, Sir Colin Fraser, at the first annual meeting of the Taranaki (N.Z.) Oil Development Company at Melbourne. The importance, not only to the Dominion, but to Australia and the Empire, of the early discovery of really productive oilfields needed no stressing, he added, particularly at the present time. "Any early and major relief from the necessarily enforced restriction on petrol consumption both in the Dominion and the Commonwealth can, I belie've, only come from a strike of oil in New Zealand or Papua," he said. "The geographical position of the wells in New Zealand and the facilities for quick development and oil transportation in the event of oil being discovered are particularly favourable features."
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Taranaki Daily News, 13 September 1940, Page 6
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144CHAIRMAN OPTIMISTIC Taranaki Daily News, 13 September 1940, Page 6
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