Page 4 Advertisements Column 1

Wairarapa Daily Times, Volume XII, Issue 4014, 16 January 1892, Page 4

PROSPECTUS WAIOTAPU OIL AND MINERAL COMPANY (Limited), To bo Registered under tb» Company's Act, 1882, and ita Amendments. Capital ... 4100,000 (With powor to Increase,) In 100,000 shares of £leach, of wliioh 50,000 fully paid up shares will bo allotted to tho vendors, The balance of 50,000 are now offered to the public on tho following torras-viz,, 2s 6d por sharo on application, 2s 6d per sharo on allotment, 2s Od per share in threo months, and 2s Od per share in six months, and the balance in calls, or as much as may be required, not exceeding 2s 6ci per sharo, to bo mado at mtorvals of not less than three months. Directors: To bo appointed at the First Meeting of Shareholders, Bankers ; Bank of Australasia, Napior. BROKERS ; Napier-BAKEEU TABUTEATI, Wblunoton-LAERY&CO. Auckiand-FRATERBROS. Dunedin-R.A.SUOTT, Rotorua-D, GRIFFITHS. Solicitors : Napier, Now Zealand, Sainsbury '& Logan. Melbourne, Austin Baker. Secretarv (pro ton.) F, B. Scott, Waiotapu, Rotorua. THIS Company is formed for the purpose of acquiring from the owners all benefits whatsoever and all rights under certain deeds of lenaß from tho Crown which are being granted by tho Crown to certain of tho Vendors, comprising in all an area of 2-10 acres, situated in tho Waiotaou Valloy, near Rotorua, New Zealand, and for the purpose of working Petroleum, Oil, ami the various Minorals, Hematites, Acids, Ores and Clays, which aro found on tho property to be comprisod in such leases. Tho survey of tho lands his recently been completed under directions from the Survey Office, and the leases will be prepared and issued at once. Before the Menionndum and Articles of Association aro registered the leases from tho Crown will be open for inspection at tho oflico of tho Company's Solicitors at Napier. Tho terms of purchase are as follows; -The vendors shall recoivo £IO,OOO in cash and shall have allotted to triom 50,000 fully paid up shares in the Company. An agrcoinent embodying the terms ofthosalo and purchase will be incorporated with and form part of the Memorandum and Articlesof Association of tho Company, The yendors aro—Colin Ross, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Eosa, station manager, Strathmore; F. Logan, solicitor, Napier; W. Fawkner, gentlemap, Napier; Francis Bernard Scott, gentloman, Waiotapu; J.C. Rankin, runholder, Strathmore; who guarantee that all monies will be returned in the eyent of the Compiny not being floated. PROSPECTS. Petroleum of a very 6ne quality has been found in a number of places, and the ground, in many portions of the Company's leaso, is fairly saturated with it; in the creeks also it is to be seen flowing freely, clearly showing that wells of this rock Oil exist somewhere in this locality, and hayo been er.nding and running to waste for years hack. It is anticipated that when proper appliances aro brought to bear for boring, r il will be reached at no great depth. BeiDg in the region of thermal action, tends also to favour the opinion of a great Petroleum source being situated in this locality—bb in Russia it is found in its greatest state of purity and quautity in the region of active volcanic centrcsand in Waiotapu the oil actually undergoes a process of distillation in coming to . tho-surface-oh account of this thermal action and its mixing freely with Sulphuric Acid, Valuable clays and hematites are to be found in largo quantities, also iron ores, oxides, and many other valuable ores and pigments-all of which will find a ready market,

The area for operations consists of the most valuable portion ot the famous Bight-seeing Waiotapu Valley, and it is situated about 20 miles from Rotorua, The property is approached from Eotorua by a main line of road leading to Strathmore, Wairakei, and Taupo, and another branch line to Galatea, which latter forms the eastern boundary, it is also woll watered by the Waikokomuku, a large fresh water stream, and the Hakitikite, 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 the various minerals are open for inspection at the 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 specif™ gravity ia 'BG4, and it yields good commercial kerosene," (Signed) J, Hector. ' From Gerhard Mueller, Esq., Commissioner Grown Lands. " I haye been surprised beyond measure to see the exudations of Petroleum at so many places in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts." G. 0, MoAuley, Esq., Eotorua, 19th November, 18P1. "I was shown ovoc only a small portion of the ground, and in all places found Oil flowing frcoly-even in the bottom of the stream —the earth is also full of Oil. I consider the prospect is an excellent ono. The numerous and varied coloured earths are also very valuable." F. B. Scott, Esq,, Auckland, Novomber, 1891. "Ihave resided in the locality of the Waiotapu Petroleum Springs for the lastfeur years, and haye had overy opportunity of calmly considering tho probability of a reservoir oxisting 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 the bed ot the creek, Hundreds 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 yolcanic acencies, is very favourable to tho supposition of subterranean cayems existing capable of containing large reservoirs of oil, which are often deficient in regular sandstone formation, Apart from tbe petroleum, the valve of this property is greatly enhanced by the interesting variety of hematites, acids and clays, which are found to putmeate the whole formation. A compound which might bo termed paraffin tmtteria also ftmnd in quantities. This is a curious substance, and is very useful and effective ai an antifriction grease. Tho petroleum in its crude state makes an excellent salve, and is largely used by the natives tor horse sores, scalds, and wounds. NEWSPAPER EXTRACTS. Ho 1 ; Lakes Chronicle, ltotorua, 23rd Oct,, 1891. 1 The importance of this find prompted us to take an interest in the matter by seeing for ourselves what the prospects really ar.-. With this view we paid a visit to the Valley, The Oil is 6cen floating down a creqk, and as wo l walked along our footsteps caused a more perceptible flow. The Oil is not confined t.j the creek alone, but soiiio .distance away it is also found; in fact tho ground' is perfectly saturated with it The indications of Oil are precisely similar to thoso found at Oil Creek, Pennsylvania, hi 1860,..-when more than a thousand wells mn bored from 600 to COO feet deep, aiid in 186!) many of the wells yielded regularly 300 barrels per day. Wo mention this to show that it is possible, and indeed probable, that the Waiotapufind may be of the utinoßt importance to New 'Zealand, Tho pro Buect» are undoubtedly good and everything is being done to make the venture a success, &c, Ac., fa. Jfrom the N.Z. Herald, Auckland, November. ' "Many persons have visited the Waiotapu Oil and Mineral Company's ground during the past week, and a good many fo thoso who have been hitherto incredulous. Mr Scott allowed Ihem to dig for tbeuißolvos, tho result being they came