TARANAKI PETROLEUM.

Wairarapa Age, Volume XXIX, Issue 8183, 16 July 1906, Page 5

TARANAKI PETROLEUM.

A great many visitors to New Plymouth and also many looal residents have daring the last few days visited the property on the Carriogton Road, at New Plymouth, proposed to b« bored upon by the Taranabi Oil and Freehold Company, LtfJ.,'and shares are being applied, for freely. Strong indications of oil are to be seea all over the property, and at certain parts of the distriot petroleum has been found bubbling through the mud. A good deal of experimenting has been done with the gas which escapes from the surface, and it is said that by making a hole in tbe ground and applying a light, a flame will issue to the height of a oouple of feet, and will burn for hours at a time. It is thought from the indications, and also from the lay of the strata, that in tde Carrington Koad, distriot the oil may be found much nearer the surface than at any point at whioha bore has previously been put down; the importance of which will be obvious, as apart from greatly minimising the cost of boring, the chances of a good and permanent; flow are considerably enhanced. The directors are very confident of the success of their boring operations, and entertain a strong belief that beneath the property intended to be operated upon by them, will be found petroleum deposits of immeasurable wealth. Messrs Harcourt and Co., of Wellington, the brokers for the Company, state that a large amount of the share oapifcal in the Company has beflu already subscribed, and intending shareholders would do well to forward their applications with as little delay as possible.