A PROMISING INVESTMENT

Wairarapa Age, Volume XXXII, Issue 10606, 12 April 1912, Page 5

A PROMISING INVESTMENT

THE TA.RANAKI OIL WELLS, LIMITED. The Prospectus of the Xaranaki, N.Z., Oil Wells, Ltd., is- issued ,to the public. The Board, Leaded by the Earl of Ranfurly, is exceptionally strong. Sir 'George Clifford, of Stoiiyhurst, Christchiuircli, and Sir John Lane Harrington, K.C.M.G., of London, will jo-in the Directorate after allotment. The Oil Trust, Ltd., will act as secretaries and managers, and Mr J. D. Heiwy, the eminent expert, whose report on Taranaki oil recently was-so emphatic and enthusiastic, will continue to be the technical adv:s>tor. • ■ The Taranaki, N.Z., Oil Wells, ■Ltd.,. is formed to acquire the oil Some /five thonsandv acres of oil-lands at >cew .Plymouth, 'so/far' Petix>leira Company. 144 Oft Jibe property are t£ree Bowing- wells ....yieldingthouisand gallons of oil per week. Over three hundred thousand gallons are already stored pending the erectioii of a refinery. The quality of the oil in the three wells .nlow flowing is remarkably high, containing over seventeen and a half per cent of paraffin wax. Craigs, of Paisley, recognised authorities, state: "We are aware of .110 natural petroleum which has l»een found to be so rich in this valuable prfoduct." Taranaki oil lias become a practical enterprise of a. magnitude which caujiot fail to impress the public. It is significantly a development which means much to those who are in a position to "acquire-an interest. New Zealand, as' a is naturally to a, bigger extent still concerned in its success. The establishment and pxpaniSion ofi this great industry should, in shbrt, be regarded as an important iiational achievement.