DOWN 2070 FEET
THE TOTANGI OIL BORE. NO APPARENT JUSTIFICATION FOR RUMOURS. (By Telegraph—Press Association.) GISBORNE, December 1. The following report was issued this morning by the New Zealand Petroleum Company, Limited, relative to the progress with the Totangi bore: Boring nas now reached a depth of 2070 feet. The drill at present is in sandstone. Officials of the company declined to supplement this bare progress statement, but it is gathered that operations at Totangi are progressing normally and according to schedule. There is apparently nothing to justify rumours which were in circulation in some centres yesterday and which the effect of depressing oil shares on the stock market.
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Wairarapa Times-Age, 2 December 1938, Page 4
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109DOWN 2070 FEET Wairarapa Times-Age, 2 December 1938, Page 4
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