Page 3 Advertisements Column 3

Wairarapa Daily Times, Volume XII, Issue 4010, 12 January 1892, Page 3

PBOStEOT.US OP THE WAIOTAPU OIL AND MINERAL COMPANY 1 (Limited), To bo Registered under the Company's - Act, 1882, audits Amendments.; Capital ..V ...', '... iIOO.OOO (With power to Incroaso.) • In 100,000 shares of £1 each, of whioh 50,000 fully paid up shares will bo allotted to the vendors, The balance of 50,000 are now offered to the public on the following tarnu—viz,, 2s Gd por share on application) 2s 6d per sharo on allotment, 2s Gd per share in three months, and 2s Go per share in eix' months,- and tho balance in cilia, or as much as may. be required, not exceeding 2s 6d per share, to bo rondo at intervals of not less than three months. Dihectohs : To be appointed at the First Meeting of Shareholders. Bakkbks : Bank of Australasia, Napier. BRUKKIU : NAFIEH-ISAKEK fc TABUTEA'I, WBLUNGTOH—L4ERY & CO. Auokund-FRAI'ER BROS. DUNKDIN-B, A.SI'OTT, Rotokua-D, GRIFFITHS. Solicitors : Napier, Now Zealand, Sainsbu'ry & Logan. Melbourne, Austin Baker,' SECRETARY (pro tclll.) ' F. B. Scott, Waiotipu, Rotorua. rpiilS Company is formed for the 1 purpose of acquiring from tho owners all benelils whatsoever nnd all riylits under certain deeds of lease from tiie Crown which aro being granted by the Crown to certain of tho Vendors, comprising in nil an nica of 210 acres, situated in tho Wjiotaou Yalloy, near Rotorua, Now Zealand, and for the purpose of working Petroleum, Oil, and the vaiious Minerals, Hematites, Acids, Ores and Clays, which aro lound on the property to bo comprised in such leases Tho survey of tho lands has recently been completed under directions froin the Survey Ollice, and tho leases will bo prepared and issued liofore the .Memorandum and Articles of Association are registered the leases from the Crown will be open for inspection at the office of the Company's Solicitors at Napier. Tho terms ul purchase aro as follows: —The vendors shall rcceivo £li\ooo in cash and shall havo allotted to them 50,000 fully paid up shares m tho Oonipanj. An aqrcemor.t embodying the terms of tho sale nnd purchase will be

incorporated with and form port of tlio Memorandum and Articlesof Association of tho Company. The yendors arc—Colin Ross, runholder, Melbourne | Edward Douglas, aettler, Tauranga; Donald lloss, Btation manager, Strathmore ; F. Logan, solicitor, Napier; W, Fawknor, gentleman, Napier; Francis Bornard Scott, gentleman, Waiotapu; J.O. Rankin, ruuliulder, Strathmore; who guaranto? that all monies will be returned in tlio event of the Coropmy not boing floated. PROSPECTS. Petroleum of a very line quality Imb been found in a number of places, and the ground, in many portions of tho Company's lease, is fairly saturated with it; in the creeks also it is to be scon flowing freely, clearly showing that wells of this rock Oil exist somewhere in this locality, and liayo beuu exuding and running to wasto for years hack. It is anticipated that when proper appliances aro brought to hear for boring, Oil will bo reached at no great depth. Being in the region of thermal action, tends also to favour the opinion of a great Petroleum source. beins; situated in this locality—as in Russia it is found in its greatest state of purity and quantity in tho region of nctivo 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 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. , The aroa for operations consists of the most valuable portion of tlio 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 Strathmora, Wairakei, and Taupo, and another branch lino to Galatea, which latter forms the eastern boundary, It is also well watered by the Waikokomuku, a large fresh water stream, and the Hakitikito, a hot water creek, which runs right through tho land composed 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 tlio offices of Messrs Laery and Co., Willis street. REMARKS FROM VARIOUS AUTHORITIES, Analysis by Dr Hector, New Zealand Geo. Survey Laboratory. " This is good Petroleum—its Bpecifin gravity is •804, and it yields good commercial kerosonc." . (Signed) 'J, Heotou. From Gerhard Muellor, Esq., Commissioner Crown Lands. " I liaye been surprised beyond measure to see the exudations of Pctroloum at so many places in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts." G. 0. MoAuley, Esq., Rotorua, 19th November, 18P1, " I was shown ovjr only a small portion of the ground, and in all places found Oil flowing freely-oven in the bottom of the stream—the earth is also full of Oil, I consider the prospect is an excellont one. Tho numerous and varied coloured earths are also very valuable." F. B. Scott, Esq,, Auckland, Novomber, 1891. ' " I have resided in the .locality of the Waiolapu Petroleum Springs for the lastfeur years, and haye had every opportunity of calmly considering the probability of a reservoir oxistingin that locality. Throughout all this company's ground, oil is to be got on tho surface, a

few feot below it, and also in tho bed ot the creek, Hundreda of gallons must have been finding their way down this stream weekly. 1 consider the very fact of the ground being so much disturbed by volcanic apeneiea, i*.very favourable to the supposition of subterranean cay- . oins oxisting capablo of containing large reservoirs of oil, which are often deficient in regular sandstone formation, Apart from tho petroleum, the valve of this property is greatly enhanced by the interesting variety of hematites, acids and clays, which are found to pmmeate tho whole formation. A comsound which might bo termed paraflm jutteris also found in quantities. This is a curious substance, and is very useful and effective ai an anti-friction grease. The petroleum in its crude stato makes an excellent salvo, aud is largely used by the natives tor horse sores, scalds, and wounds.: ■ ■■ NEWSPAPER EXTRACTS. Hot Lakes Chronicle, itotorua, 23rd ; 0ct.,1891..; ,V "Tho importance of this find prompted us to take an interest in tho matter by seeing for ourselves what tho prospects really are; With this view we paid a visit to the Valley, The Oil. i'b seen floating down .a crook, and as we walked along our footsteps'caused a more perceptible flow. Tho Oil is not confined tothe creek alone, but some dis'tance away it is also found; in fact the around is perfectly saturated .with it The indications of Oil are precisely similar to those found at Oil Creek, Pennsylvania, in 1860,' when more than a thousand wells were boied from.6oo to COO feet deep, and in 1869 many of the wells yielded regularly 300 barrels per Wmontion this to Mii'w that it js possible, and lndee.l probable,' that the Waiotapufind may be)of the utmost importance 'to New ; Zealand,' Thb pro s'pects arc undoubtedly good ami everything is boin'tf dohe to mako the venture asuccess,&c,,&c.,&o, , , From' the I, NiZ.'Herald, ' ... vomber. .~. - i" Many persons hi™ visited jho \Yaio-' tapu Oil and Mineral ground during the' past weok, and a good mauy of those who hayo been hitherto iucrodu- ; lons, Mr Scott allowed 'them to'dig' foir