TARANAKI PETROLEUM.

Wairarapa Age, Volume XXIX, Issue 8327, 8 January 1907, Page 5

TARANAKI PETROLEUM.

By Telegraph—Press Association. NEW PLYMOUTH, January 7. Excellent reports of progress wei*e made to-day by the. Chairman of the Taranaki Petroleum Company. The pressure at No. 1 bore was so great as to be almost dangerous, and extra precautions had to be taken. From the blow-out -on Christmas Day 35 barrels were saved. A new tank of 8,000 gallons capacity is almost ready, and all the reservoirs will be filled as soon as the pressure eases. No. 2 bore is down 1,740 feet, discharging oil, gas and water. An accident to the casing caused delay here. The work of clearing out No. 3 bore is progressing steadily. It is down to 520 feet, and oil is found within 12 feet of the top. At bores four and five everything is in readiness to commence boring. On behalf of the Company Sir J. G. Ward communicated with Sir Wilfrid Laurier to secure an experienced driller and oil expert to succeed the late Mr Fair, and he is expected to leave by the next boat. The man engaged is from the Petrolia Centre Canadian oilfield. Owing to the delay in getting quotations for a refining plant from America, quotations have been invited from a leading firm in Scotland. The Company are making inquiries in London if there is any market for surplus crude oil. The Bonithon Company's plant is on the ground, and work will start very shortly. The Oil and Freehold Company have almost completed a road to the site selected for their bore in Carrington Road. The timber and machinery ordered for the work will be under way next month. Inglewood. and Eltham also report active preparatory work. The share market is buoyant with a rising tendency.