Page 4 Advertisements Column 1

Wairarapa Daily Times, Volume XII, Issue 4013, 15 January 1892, Page 4

PROStEOTUS WAIOTAPU OIL AND MINERAL COMPANY (LIHIIKD), ; To be Registered under the Company's Act, 1882. and its Amendments. , :,,(W,ith power to Increase.) y In 100,000 shiiroß of £1 each, of which 50,000 fully: paid up sliarea will '.be nllotted to tho vondora, The balance of 50,000 mo now offered to the publio on the following terms—viz,, 2s Gd per share on application, 2s Od por share on allotment, 2s Od per sharo in three months, and 2s Gd por share in six months, and the balanco in calls, or as much as may be requited, not exceeding 2s-6d per share, to be mado at intervals of not leßs than thrco months. Directors: To bo appointed at the First Mooting of Shareholders. Baxkkr's : Bank of Australasia, Napier. Brokers ; Namer-B AKER & TABUTBAII. Wbuinqion-LAERY&CO. Auckund-FRATERBROS. DvHEMN-lU.SOOTT. Rotorva-D, GRIFFITHS. Solicitors :'..,. Napier, Now Zealand,: Salisbury & Logan. Baker, Secretary (pro /cm.) , F. B. Scott, Waiojapu, Rotorua. |HIS Company is formed for the X .purpose of acquiring from,, .tho owners nil benefits whatsoever, and all • rights under certain deeds of lease from tho Crown which are- being granted by tho Crown to certain! ofithe Vendors, comprising in all an area of 240 acres, Hituated .in tho Watotarju Valloy, near Rotorua, New Zealand, and for. the purpose of working Potroleum, Oil,, ahi tho various Minerals, Hematites, Acids, Ores and Clays, which aro found on the property to bo corpprisedin such leases.; The survey of tho. lands has recently been ■ completed under directions fron the Survey Office, and tho leases will be prepared and issued at once. ■ Before the Memonndum and Articles of 'Association aro' registered the ■ leases from the Crown will be open for Inspection at tho office of tho Company's Solicitors at Narier. Tho torms of purchase ato as follows: -The vendors shall receive £IO,OOO in cash and shall have allotted to them 50,000 fully paid up shares in the Company. An agreement embodying the terms ofthosalo and purchase will be incorporated with and form part of tho Memorandum and Articles of Association of the Company. The .vendors are—Colin Ross, runholder, Melbouruo; Edward Douglas, settler, Tauranga; Donald Ross, station manager, Strathmore; F, I/ugan,' solicitor, Napier; W. Fawknor; gentlemar, Napier; Francis Bernard Scott, gentleman, Wniotapa; J.,0. Rankin, runholder, Strathmoro; who guarantee that all monies will be returned in .tho event of tho Company not being floated, , PROSPECTS. Petroleum of a very fine quality haß been found In a number of places, and the .ground, in many portions of the ' Company's lease, is fairly saturated with . it; r in the creeks also it is to be seen flowing freely, clearly showing that veils of this rock Oil exist somewhere in this locality, and hayo been orating and running to waste for years back, It ii ' anticipated that when proper appliances are brought to bear for boring, l i! will bo reached at no great depth. Being in the'region of thermal action, tends also to favour tho opinion of a great Petroleum source being situated in' this locality—as in Rus9ia_.it is found in its greatest state of purity'and quautity in the region of active volcanic centres—and in Waiotapn the oil actually under- ' goes'n process of'distillation in coming to the surface oii account of this thermal action and its mixing freely with Sulphuric Acid, Yaluablo clays and hematites are to be foundln large quantities, also iron ores, oxides, ah'dnlany.other Valuable ores and pigments—all of which will find a ready market.. .■;■■.

The'afea for operations consi'sls of the most valuablo portion ot 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 branch lino to. Galatea, which latter forms the eastern boundary. It is also well watered.by the. Waikokomuku,. a largo fresh water stream, and the HdkUikito, a hot water creek, which runs right through the land composed in the lease. Many valuable hot mineral baths with strong curative properties exist on the •ground. ■ Samples of,tho various minerals are open for Inspection at the offices of • Messrs Loery and Co., Willis street. . REMARKS FROM. VARIOUS • ; AUTHORITIES. , • Analysis by Dr Hector, New Zealand Geo, Survey Laboratory. .' , "This is good Petroleum—its specific gravity iß'Bu'4, and it yields good com< mereial kerosene." (Signed) J, Hector. From Gerhard Mueller, Esq., Commissioner Crown.Lands, "I haye been surprised beyond meaBUre to see tho exudations of Potroleum . 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, 1891,. '■ " I was shown,over only a small portion of 'tho ground, and iu;all places found Oil flowing freely,-eveu in the, bottom of tho stream—the earth is also full of Oil. I consider the prospect is an excellont one. Tho. numerous and varied coloured earths ore also very . valuable." F,B. Scott, Esq,, Auckland, November* 1891. ;:,., _ : ;■, J " I have resided in the locality of the Waiotapu Petroleum, Springs' for the last fcur years, and haye had every opportunity of calmly considering tho probability of a reservoir existing in that locality. Throughout all this company's ground, oil is to be got on the surface, a : few foot below it, and also in the bed ot the creek, Hundreds of'gallons must ,have been finding their- way down this ''stream weekly. 1 consider the very fuct of the ground being so much disturbed by volcanic apencies, is very favourable, to tho supposition of subterranean caverns existing capable of containing large reservoirs of oil, which ore often deficient in regular sandstone formation. Apart from tho petroleum* tho value of this property is greatly, enhanced. by the interesting variety of -hematites, aoids.and clays, which : are found to purme'ate tho whole formation, A compound which might be. termed paraffin butter is also found m quantities. ; ,This is a curious substance, and is very usoful and effective as an anti-friction grease. Tho petroleum in its crude state makes an excellent salve, and is largely used by the natives tor horsesores, scalds, and wounds. NEWSPAPER EXTRACTS.' Hot Lakes Chronicle, notorua; 23rd ' ' Oct.,. 1891. ':.,"• "The importance of this find prompted us to tako an interest 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 crcok, and as we walked along our footsteps caused a more perceptible'flow. Tho Oil is not. confined totho creek alo'nei but so'me distance away it isalso found; in fact the ground is perfectly saturated with.it The indications of Oil arepreciselysimilar to tlioße found at .Oil Creek, Pennsylvania, iii" 1860, when moro than a thousanq-weilS-Were'bored from 800. .to COO feet deepV:'and in iB6O, many of', the. welliyielded rejiiiarij.'P":baiTf.ls ; per' day.;. We mention this to show that Mb probable, -that''ihi' Waiotapu find may be of the/utmost importanco to Hew Zealand, Tho pro spects are undoubtedly good and everything is being doiie to make M- venture a success, &o.i &c, &c. v - , : l , ' torn the N,Z. Herald, Auckland, No."Many persons have visited tho Waio-M tapu Oil and Mineral Company's'ground f» those' who have bien hitherto'incredu. lous. Mr Scott allowed them to dig for themselves, tho result being they came