Page 3 Advertisements Column 2

Wairarapa Daily Times, Volume XII, Issue 4003, 4 January 1892, Page 3

PROSPECTUS WAIOTAPU OIL AND MINERAL COMPANY (Lijuied), To bo Registered under tlio Company's Act, 18t!2| audits Amendments, Capital ... 4100,000 (With power to Increase.) In 100,000 shares of £leach, of whioh 50.U00 fully paid up shares will bo al lotted to iho vondure. The balance of 60,000 nro now offered to the public on the following terms—viz,, 2s b'd per share on application, 2s Gd per share on allotment, 2s b'd per share in three mouths, and 2a Gd per share in six months, and the balance in calls, or as much as may bo requited, not exceeding 2s 6d por share, to bo made at intervals of not less than three months. v Directors ; To bo appointed at the First Meeting of Shareholders. Bakkbkb : Bank of Australasia, Napior, UruKerb • Napbr-BaKER&TABUTEAIT. Wkliinqioh-LAERY & CO. Auckund-FRATERBROS. Dunedim-R.A.SUOTT. RoToßifi-D, GRIFFITHS. Solioitobs : Napier, New Zealand, Salisbury & Logan. Melbourne, Austin Baker. Secretary (pro km.) F. B. Scoit, Waiotapu, Rotorua. THIS Company is formed for the purpose of acquiring from the owners all benefits whatsoever and all rights unJer certain deoils of lease from the Crown which are being granted by the Crown to cortain of tho Vendors, comprising in all an area of 240 aeros, situated in tho Waiotrou Valley, neat Rotorua, Now Zealand, and for the purpose of working Petroleum, Oil, and the various Minerals, Hematites, Acids, Ores and Clays, which are found on the property to be comprised in such leasos. Tho survey of tho lauds his recently been completed under directions from the Survey Office, and tho leasos will be prepared and issued at once. Before the Meruorwdum and Articles of Association are registered tho leasos from tho Crown will bo open for inspection at the office of the Company's Solicitors at Napor. Tho terms of purchase aro as follows; -The vendors shall recoivo £IO,OOO in oaih and shall have allottodto them 50,000 fully paid up shares in the Company. An agreement embodying tho terms of tho salo and purchase will be incorporated with and form part of the Memorandum and Articlesof Association of tho Company. Tho yoiidore are-Colin Ross, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Doss, station manager, Strathnioro; F. Logan, solicitor, Napier; W.Fawkner, gentleman, Napier; Francis Bernard Scott, gentleman, Waiotapu; J.C, Rankin, runhnlder, Stratlimore; who guaratitca that all monies will bo returned in the event of tho Company not boing floated. PROSPECTS. Petroloum of a vory lino quality has been found in a number of placos, and the ground, in many portions of the Company's lease, isfairlywturatod with it; iu tho creeks also it is to bo seen flowing freely, clearly showiug that wells of this rock Oil exist somewhere in this locality, and hayo been exuding and runniug to waste for years hack. It is anticipated that when proper appliances are brought to boar for boring, Oil will be reached at no great depth. Being in tho region of thermal action, tends also to favour tho opinion of a great Petroleum souroo beine situated in this locality—as in Russia it is found in its greatest, state of purity and quantity in the region uf active volcanic centresand in Waiotapu tho oil actually undergoes a process of distillation in coming to the surfaco on account of this thermal action and its mixing freely with Sulphuric Acid, i Valuable clays and hematites aro to be found hi large quantities, also iron ores, I oxides, and many other valuable ores and pigmonts-all of which will find a ready market, The area for operations consists of tho most valuable portion ol the famous sight-seeing Waiotapu Valley, and it is situated about 20 miles from Rotorua. The property is approached from Rotorua by a main line of road leading to Strathmore, Wairakei, and Taupo, and another braooh line to Galatea, which latter forma the eastern boundary, It is also well watored by tho Waikokomuku, a large fresh water stream, and the Hakitikite, a hut water creek, which runs right through the land comp'isod in the lease. Many valuable hot mineral baths with strong curative properties exist on the ground. Samples of the various minerals are open for inspection at tho offices of Messrs Laery and Co,, Willis street. ■ REMARKS FROM VARIOUS AUTHORITIES. Analysis by Dr Hcotor, Now Zealand Geo. Survey Laboratory. "Tm'b is good Petroleum-its speoinn gravity is 'BB4, and ityioldsgood commercial kerosene." (Signed) J.Heoior. From Gerhard Mueller, Esq,, Commissioner Crown Lands, " I hayo been surprised beyond measure to see tho exudations of Petroleum at so many places in your Valley, all of which point to a great resorvoir of this Oil somewhere thereabouts." G. O. MoAuley, Esq., Rotorua, 19th November, 1891, " I was shown ovot only a small portion of tho ground, and in all places found Oil flowing freely -ovon in tho bottom of tho stream—the earth is also full of Oil. I consider the prospect is an i excellent ono. Tho numorous and varied coloured earths are also very valuable."

F. B, Scott, fat],, Auckland,,NoTombor, 1891. " I have lcfiided in the locality of the Waiotapu Petroleum Springs for tho last fair years, and haye had every opportunity of calmly considering the probability of a reservoir existing in that locality. _ Throughout all this company's ground, oil is to be got on tho surface, a few feet below it, and also in the bod ot tho creek, Hundreds of gallons must hayo been finding their way down this stream weekly. 1 consider the very foot of v the ground being bo much disturbed by volcanic awncies, is very favourable to tho supposition of subterranean cayoms eiiating capable of containing large reservoirs of oil, which aro often deficient in regular sandstone formation, Apart fwm tho petroleum, tho value of this property is greatly enhanced by the interesting variety of hematites, acids and clays, which are found to purmeate tho whole formation. A compound which might be termed paraffin butter iB olbo found in quantities. This is a curious Bubßtance, and is very useful and effectire ai an anti-friotion grease. Tho petroleum in its crude state makes an excellent salve, and is largely used by tho natives lor horse sores, scalds, and wounds. NEWSPAPER EXTRACTS, Hot Lakes Chronicle, Itotorua, 23rd Oct., 1891, .. "The importance of this find prompted us to take an intorest in the matter by seeing for ourselves what the prospects really are. With this view we paid a visit to the Valley. The Oil is seen floating down a creek, and as we walked along our footsteps causod a more perceptible flow. Tho Oil is not confined to tho creok alone, but some distance away it is also found; in fact the around is perfectly saturated with it, Tho indication of Oil are preciselyaimilar to those found at Oil Creek, l'enn» sylvania, it, 1860, when more than a thousand wells were bored from 600 to COO foet deep, and in 1869 many of the wells yielded regularly 300 barrels per day. We mention this to show that it is possible, and indeed'probablo, that the Waiotapu find may be of the utmost importance to New Zealand. Tho pro spects are undoubtedly good and everything is being done to make the venture a success, &c, &o„ &o. from the N,Z, Herald, Auckland, Novomber. "Many persons have visited the Waiotapu Oil and Mineral Company's groitnd during the past week, and a good many of those who havo been hitherto incredulous. Mr Scott allowed them to dig for themselves, the result being they came