Page 3 Advertisements Column 2

Wairarapa Daily Times, Volume XII, Issue 4006, 7 January 1892, Page 3

PEOSPECTUS OF THE WAIOTAPU OIL AND ; MINERAL COMPANY (Limited), Tube Registeredundor tho Company's' Act, 1882, ami its Amendments. Capital ... .... ' £IOO,OOO (With power to Increase.) In 100,000 shares of £1 each; of wliioh 50,000 fully paid np shares will be silotted tolhe vendor*, The balance of 50,000 are now offered tn tho public on the following terms—viz,, 2s Gd per shavo on application, 2s6dpersharo on allotment, 2s Od per share in three months, and 2s (iri per share in six months, and the balance in calls, or as much as may be required, not exceeding 2s 6d per share, to bo made at intervals of not less than three months. Diiikutoiw : To ho appointed nt tho First Meeting of Shareholders. Bankkus ; Bank of Australasia, ftapier. Brukbhs : Naviek-B AKER & TABUTB ill. Wki,iixgtox-UEIIY & CO, Aucmxo-FIIATER BEOS. I)unedin-K. A, SCOTT. fioioitUA—D, GRIFFITHS. Sor.ioiions : Napier, New Zealand, Salnsbury & Logan. Melbourne, Austin Mor, Secretary- (pro (cm.) F. B. Scott, Waiotapu, Kotorua. rnIUS Company is formed for the .1 purpose of acquiring from tlio owners all benefits whatsoever and all liylits un.ier certain deeds" of lease from the Crown which are being granted by the Crown to certain of the Vendors, comprising in all an area of 240 acres, situated in the Waiofaou Valley, neat JAotorua, Nuw Zealand, and for the purpojo of working Petroleum, Oil, and tho various ivlinorals, Hematites, Acids, Ores and Clays, which are lound on the property to be comprised in such leasc3. Tho survey of tho lands his recently been completed under directions fro«ri the Survey Office, and the leases will bo prepared and issued at once. Before the Mcmonndum anfl Articles of Association are registered the leases from the Crown will be open for inspection at tlie office of the Company's Solicitors at Nafiei. Tho terms ol purchase ato as follows ; -Tho vendors shall receivo £IO,OOO in cash and shall havo allotledto tliern 50,000 fully paid up shares m tho Company. An agicement embodying the terms of tho Bale andpurchas9 will be incorporated with and form part of tho Memorandum and Articlesof Association of the Company. Tho yendors arc—Colin Ross, runholder, Melbourne; lidward Douglas, settler, Tauranga; Donald lioss, station manager, Strathmoro; F. Logan, solicitor, Napier; W. Fawknor, gentleman, Papier; Francis Bernard Scott, gentleman, Waiotapu; J. C. Kankin, runholder, Strathmore; who ijuarantes that all monies will bo returned in tho event of tho Company not being floated..

PROSPECTS. Petroleum of a very lino quality has been found in a number of places, and the ground, in many portions of the Company's lease, b fairly saturated with it j in the crooks also it is to be seen flowing freely, clearly showing that wells of this rock Oil exist somowliere in tliis locality, a&d hayc been er.utiing and running to waste for years hack. It is anticipated that when proper appliances aro brought to bear for boring, Oil will be reached at no great depth. Being in the rogion of thermal action, tends also to favour the opinion of ut great Petroleum source bomi situated in this locality—as in Russia it is fouud in its greatest state of purity and quantity in tho region of activo volcanic centres—and in Waiotapu the oil actually undergoes a process of distillation in coming to the surface on account of this thermal action and its mixing freely with Sulphuric Acid,

Valuable clays and liomatitoß aro to be found in large quantities, also iron ores, oxides, and many other valuable ores and pigments—all of which will find a ready market, Tlio area for oporations consists of tho most valuablo pnition ot the famous sight-seeing Waiotapn Valloy, and it is situated about 20 miles from Rotorua, Tho property is approached from Rotorua by a main line of road leading to Strathmore, Wairakei, and Taupo, and another branoh lino to Galatea, which latter forms the eastern boundary. It is also well watered by the Waiknkomuku, a large tali waterstroam, and the HakitU kite, a hot water creok, which runß right through the land comprised in the leafle. Many valuable hot mineral baths with strong curative properties exist on the ground. Samples of the various minerals are open for inspection at the oflioes of Messrs Laery and Co., Willis street REMARKS FROM VARIOUS AUTHORITIES, Analysis by Dr Hector, Now Zealand Geo. Survey Laboratory, " This is good Petroleum—its specific gravity is 'BO4, and it yields good commercial kerosene," (Signed) J, Heoior. From Gerhard Mueller, Esq., Commissioner Crown Lands. "Ihayo been surprised beyond measure to see the exudations of Petroleum At so many places in your Valloy, all of which point to a great resorvoir of this Oil somowhere thereabouts." 6.0. McAuley, Esq., Eotorua, 19th November, 18P1, " I was shown, one only a small portion of the grodud, and in all places found Oil flowing freely-oven in the bottom of tho stream—the earth is also full of Oil. I consider the prospect is an exoollent one, Tho numerous and varied coloured earths are also very valuablo." F. B. Scott, Esq,, Auckland, Novomber, 1891, " Ihavo resided in the locality of the Waiotapu Petroleum Springs for the lastfeur 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 Burface, a few feet below it, and also in the bed ot tho creek, Hundreds of gallons must have boen finding their way down this stream weekly. 1 consider the very fucfc of tho ground being so much disturbed by volcanic acencies, is very favourable to the supposition of subterranean cayonis existing capable of containing largo reservoirs of oil, which are'often deficient in regular sandstone formation,

Apart from the petroleum, llio value of this property is greatly enhanced by tho interesting variety of hematites, aeida and clays, whioh are found b purmeate the wholo formation, A compound which might be termed paraffin butter is also found in quantities. This is a curious substance, and is vory usoful and effective as an anti-friction grease. Tho petroleum in its crude stato makes an oxcellont salvo, and is laigcly used by tho natives for horso soros, scalds, and wounds. NEWSPAPER EXTIUCTS, Hot Lakos.Ohronicle, ltotoriia, 23rd ■ Oct., 1891, "Tho importance' of this find prompted us to take an interest in tho matter by seeing for ourselves what tho prospects really ara. With this .view wo paid a visit to, the Valley. The Oil is seen floating down a crook, and as w walked along our fouts teps caused a uioro perceptible How,' Tho Oil is not confined to the creek alono, but some distanco away it is also found; in fact tho wound is perfectly, saturated with it' Tho indications of Oil are precisely similar to those found at Oil Creek, Pennsylvania, iu: 1860, when more than a thousand wells were bored from 500 to COO feet deep, and in 1869 many of the wells yielded regularly 300 barrels : per day. We mention this to show that It is possible; and indee.l probable, that the Waiotapufiud may be of the utmost importance to New Zealand,' Tho pro s'pectaare undoubtedly ?oud and everything is being done to makothe venture a success, &c M &0., fa), From the N.Z, Herald, Auokland. No- ' vomber. , " Many persons have visited the Waiotapu Oil and Mineral Company's ground during the pastwook, and a good many of those who havo been hitherto incredulous, Mr.Scott allowed tbern to dig for