PROSPECTING FOR OIL

Wairarapa Times-Age, 13 June 1939, Page 2

PROSPECTING FOR OIL

PROGRESS IN NEW ZEALAND. REVIEW BY MINISTER. (By Telegraph—Press Association.) AUCKLAND, June 12. “I am convinced that if oil exists in payable quantities in New Zealand the men and plant employed will find it.” said the Minister of Mines, Mr Webb, tonight. Mr Webb reviewed the progress of drilling for oil and dredging for gold in the Dominion. “There have been 52 licences issued, covering 9236 square miles, for prospecting for petroleum.” the Minister said. Approximately 50 geologists and geophysicists were already operating on various fields. One company alone had spent about £250.000 before getting one hole down, and had budgeted for a further £300,000 to continue prospecting and drilling. Others were busily engaged in doing geophysical and survey work. “It is expected that further drilling will soon begin in the New Plymouth area.” Mi' Webb continued. “It has been very delightful to me as Minister of Minos to be associated with the type of man that has come from overseas. There has not been a single hitch since the operations began. Concerning gold dredging, the Minister said that more than 878 acres of dredging land had been taken up, the land being worth £1 5s an acre, or £ll.OOO in all for farming. From the gold content point of view it was estimated to contain value of £9,433,689. or £1074 an acre. Since the Labour Government came into office a tag had been placed on each licence stipulating that where soil could not be replaced trees had to be planted at the dredging company’s expense, he added.