AN IMPORTANT ENTERPRISE

Wairarapa Age, Volume XXXII, Issue 10604, 10 April 1912, Page 5

AN IMPORTANT ENTERPRISE

THE TARANAKI OIL WELLS CO. ' LIMITED.

' Tli© Prospectus of the Taranaki, > N.Z., Oil Welle, Ltd., will be issued to the public under very favourable 'auspices. The Board is an exceptionally strong one, consisting, as it does, of tJhe Earl of Rlanfurly, K.O. Oliairmaja; Afajor Ihidley Alexander, G.M.C., ,Mr Joseph ,Brailsford, and Sir Andrew,. L. Horner, K.G., M.P. Two further Directors will join the' Board after allotment; namely, Sir George Clifford, Bart., of "Stonyhuret,". Ohristehurcii, N.Z., and Sir John Lane Harrington, f K.C.M.G., the latter being Chairman' of the Oil Trust Limited. It should r be 'mentioned that the Oil Trust Ltd. will act a®" secretaries, and that consequently the management will be in good and v experienced bands. Investigation and reports, have been , made by those competent experts', Mr J. D. Henry, of London, and Dr J. M. Bell, until recently head of j Geological, Survey in New Zealand.' ; The former will, indeed, continue to Technic! Adviser... J Tthe. Taranaki, N.Z.. Oil W«ll« Go. to icqaire: the' josb' rights- acves- ■ of! T at ■ New Plymouth : fronv_ tfie ;• ,• and on if flowing 1 twells yielding about 15,000 gallons of , oil per week. There 'ard,- too, in the j Company'® tanke, now stored "some J 310,000 gallons of oil awaiting the I refinery, wllioh it is the intention of iibe Directors to erect. ' - |lt might be remarked.-.that oil tihat is flowing from the three wells ! already active contains over 17-i per cent of paraffin wax. Messrs A. F. Oraiig aiid Go., of .Paisley, Scotland, who analysed some of "Hie oil, state: j "We are aware of no natural ; petroleum whicTi has been found to be, bo rich in t&i® valuable product." Dr J. M. Bell> -agitin," in his Review, 1 sajp: "The geological^'structure,;; of; ! ' the Taranaki district, New ' Zealand, ' together witih tilie production which I has- attended initial developmental work, indicates the existence of an important oilfield." Then Mr J. D. Henry, concluded his . report, '.."rcith. these wtordss: ' 'The entire proposition can -be recommended on the ground that ■ jt; is com/plete irf every detail, embracing as it does the production refining and marketing of petroleum under the most favourable ,economic trading condition s tin one ;of the progr^ive,.colonies of the, Einr pii^e.'.' 'Oftiavang , regard to all to> the undoubted value of the property, to the approved richness of. the oil, to the personnel of the directors, and finally to the experienced and competent management— an investment in thie shares of tihe Taranaki,. N.Z., Oil Welk, Limited, would seem to be decidedly attractive. It should, certainly command the serioitis.'attention of the. public. •• ■ , *