Page 3 Advertisements Column 3

Wairarapa Daily Times, Volume XII, Issue 4009, 11 January 1892, Page 3

PBOSPEOT-US op hie "' WAIOTAPU OIL AND MINERAL COMPANY (Limited),- >, Tube Rogiatcfo'tl uniler th'd Company's Act, 1832, and its Ainondmonta.. Capital ... ... .... 4100,000 ; (With power to Increase) ' In 100,000 suaros of £1 oach< of which 150,000 fully paid up shares will be allotted to tho vendors,, The ; balance of 50,000 are now offered to the publio on tho following torms—viz,, 2s Od per sharo on application, 2a 6d per share on allotment, 2s Gd per share in; three months, and 2a (id per sharo in aix months, and tho balance in cilia, or as much as may. be required, not exceeding 2s 6d per share, to be made at intervals of not lees than three months. Diiiectorb : To ho appointed at tho First Meeting of Shareholders, Bankbrs : Bank of Australasia, Napier. Nahkk-B AKE R & T A BUTE iTT, WBiu»GTojr-L4ERY&CO.-AfIcKLAND-FMTBRDROS. Dunedin-R.A.SOOTT, Rotomja-D, GRIFFITHS, Solicitors : Napier, Now Zealand, Saiuabury & Logan. Melbourne, Austin Baker. Secretary' (pro fern,) F. B. Scott, Waiohpu, Rotorua. rplllS Company iB formed for the J. purpose of acquiring from the owners all benefits whatsoever and all rights under certain deedn of lease from tho Crown which are being granted by tho Crown to cortaiu of the Veadors, comprising in all an area of 240 acres, situated in the Waioferou Valloy, near Rotorua, New Zealand, and for the purpose of working Petroleum, Oil, anil tho various Minerals, Hematites, Acids, Ores and Clays, which are found on the property to bo comprised in suoh leases'. Tho survey of the lands has recently beon completed under directions Iron the Survey UlHce, and tho leases will be prepared and issued at once. liofore the Mcnionndum and Articles of Association aro registered the leases from tho Crown will ho open for inspection at the oflico of tho Company's Solicitors at Hafior. Tho torms of purchase aro as follows: -The vendors shall rcceivo £H),000 in cash and shall liavo allotted to them 50,000 fully paid up shares in tho Company. An agreement embodying the terms of tho sale and purchase will be incorporated with and form part of tho Memorandum and Articlesof Association of tho Company, The yendors aro—Colin Ross, runholder, Melbourno; Edward Douglas, settler, Taurnnga; Donald Ross, station manager, Strathuioro; F. Logan, solicitor, Napier; W. Fawknor, gentleman, Napier; Francis Bcrnnrd Scott, gentleman, Waiotapuj J. C. Rankin, runholder, Strathuioro; who guarantee that all moniGß will bo raturiied in the oyent of tho Coiupiny not boing floated, PROSPECTS. Petroleum of a very fino quality has been found in a number of places, and the ground, in many portions of tho Company's leaso, is fairly saturated with it; in the creeks also it is to bo Been flowing freely, clearly showing that wells of this rock Oil exist somewhere in this locality, and hayo been er.uding and running to wasto for years hack. It. is anticipated that when proper appliances aro brought to bear fur boring, Oil will be reached at no great depth. Boing in the rogion of thermal action, tends also to favour the opinion of a great Potroleum source boing situated in this locality—as lnßu6sia it. is found in its greatest state of purity and quantity in the region of activo volcanic centresand in Walotapu tho 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 hematitos are 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, I

The urea for operations consists of the most valuablo portion ot the famous sight-seeing Waiotapu Valley, and it is situated about 20 miles from Botorua, The 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 Waikokomuku, a large fresh water Btrcara, and the Hakitikite, a hot water creolt, which runs right through tho land comprised iii the lease. Many valuablo hot mineral baths with strong curativo properties exist on the ground. Samples of the various minerals aro open for inspection at' the offices of Messrs Laery and Co., Willis street. REMARKS FROM VARIOUS AUTHOBITIES. . Analysis by Dr Hector, New Zealand Geo. Survey Laboratory. " This ia good Petroleum—its specilin gravity is '864, mid it yields good commercial kerosene." (Signed) J. Hector. Prom Gerhard Mueller, Esq., Commissioner Crown Lands. "Ihaye been surprised beyond measure to sec the exudations of Petroleum at so many places in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts," 6.0. MoAuloy, Esq., Rotorua, 19th November, 18P1,

" I was shown over only a small portion of tho ground, and in nil [daces found Oil flowing freely-ovon in tho bottom of tho stream—tho earth is also full of Oil. I consider the prospect is an excellent one. The numerous and varied coloured earths are also very valuable" F, B. Scott, Esq., Auckland, November, 1891. " I have roaided in the locality of the Waiotapu Petroleum Spring for the last fcur years, and have 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 the surface, a few feet below it, and also in tho bed of the creek. Hundreds of gallous must have been finding their way down this stream weekly.' ■ 1 consider the very fact of the ground being so much disturbed by volcanic acenoies, is very favourable to tho supposition of subterranean cay-* orns existing capable of containing large reservoirs of oil, which are often deficient in regular sandstone formation, Apart from tho petroleum, the value of this property is greatly enhanced by the interesting variety of hematites, acids and clays, which aro found to purmeate the whole formation, A compound which might be termed paraflm butteris also found in quantities,. This is a curious substance, and is very useful and effective ai an anti-friction greaßO. Tho petroleum m its crude stato makes an excellent salve, and is largely used by tho nativeß tor horse sores, scalds, and wounds. NEWSPAPER EXTRACTS. Hot Lakes Chronicle., itotorua, 23rd Oct., 1891. : '" "The importance of this find prompted us to take an interest in the mate by Beeing for ourselves what tho prospects really are. With this \ot wo paid a visit to the Valley. The Oil is seen floating down a creek, and as we walked along our footstops caused a more perceptible How. Tho Oil is not confined tj the creek alone, but some (listanco away it is also found; in fact the ground is perfectly saturated with it The indications of Oil are precisely simi. lar to those found at Oil Creek, JPenn* sylvania, in 1860, when nioro than a thousand wells were bored, from 500 to COO feet deep, and in 1869 many of the wells yielded regularly itOO barrels per day. Wo mention this to show .that it is possible, and indeed probable, that tho Waiotapu find,. may be of .the; utmost importance to. New Zealand.',' Tho pro spects are undoubtedly tjoud and everything is being done to make the venture a success, &c, &a, &c. From Horalfl, Auckland, November. "Many persons have visited the Waiotapu Oil and Mineral Company's ground during the past week, and a good many of those who have been hitherto inoroduloiis. Mr Scott allowed them to dig for