Page 4 Advertisements Column 5

Wairarapa Daily Times, Volume XIII, Issue 4016, 19 January 1892, Page 4

PROSPECTUS WAIOTAPU OIL AND MINERAL COMPANY (Limited), ... To be Registered under tho Company's , Act; 1882, and its Amendments. Capital ... £IOO,OOO (With power to Increase.) In 100,000 shares of £1 each, of whioh 50,000 fully paid up shares will ■ be allotted to the vendors, The balance of 50,000 are now offered to the publio on the following torre—viz,, 2s fid per share on application, 2s 6d per share on allotment, 2s Od per share in three months, and 2s Go' per share in six months, and the balance in calls, or as much as may be required, not exceeding 2s 6d per share, to be made at intervals of not less than threo months. Directors: , To be appointed at the First Meeting of Shareholders, Bakkers : Bank of Australasia, Napier. . Brokers ; Napier-BAKER &TABUTEiIT, Wkllington-LAERY&OO, Auckund-FRATERBROS. Dunedik-R.A.SUOTT. Rotorua-D, GRIFFITHS. Solicitors : Napier, Now Zealand, Satnsbury & Logan. Melbourne, Austin Baker, Secretary (pro fern.) 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 lease from tho Crown which ore being granted by tho Crown to certain of the Vendors, comprising in all an area of 240 acros, Bituated in tho Waiotanu Valley, iiear Rotorua, New Zealand, and for' the purpose of working Petroleum, Oil, and the various Miupraln, Hematites, Acids, Ores and Clays, which are found on the property to be comprised in such leases. The survey of the lands has recently been completed, under directions from the Survey Office, and tho leases will be prepared and issued at once. Before the Memorindum and Articles of Assooiution are registered the leaaeß from the Crown will bo open for inspection at the office of the Company's Solicitors at Napier. Tho terms of purchase areas follows; -The vendors shall receive £IO,OOO in i cash and shall have alloticdto them 50,000 fully paid up shares in tho Company. An agreement embodying the terms of the sale and purchase will be incorporated with and form part of the Memorandum and Articles of Association of tho Company. The yendors are—Colin Ross, runholder, Melbourne; Edward Douglas, settler, Tauratiga; Donald Boas, station manager, Strathmore; F. Logan, Bolicitor, Napier; W. Fawkner, gentleman, Napier; Francis Bernard Scott, gentleman, Waiotapu; J,O, Rankin, ruuholder, Strathmore; who guarantee that all monies will be returned in the event of the Company not being floated, PROSPECTS. Petroleum of a very fine 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 tho creeks also it is to be seen flowing freely, clearly showing that wells of this rock Oil exist somewhere in this locality, and haye been er.uding and running to waste for years hack. It is anticipated that when proper appliances are brought to bear for boring. Oil will be reached at no great depth. Being in tho region of thermal action, tends also to favour tho opinion .of a Qreat Petroleum source being situated in this locality—as in Russia it is found in its greatest state of purity and quantity in ttie region of activo volcanic centres—a:id in Waiotapu the oil actually underg 'cs 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 hematites are to be found in large quantities, also iron ores, oxides, and many other valuable ores and pigmonts-all of whioh will find a ready market.

The area for operations consists of the most valuable 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 faupo, and another branch line to Ualatoa, which latter forms the eastern boundary, It is also well watered by the Waikokomuku, a large fresh water stream, and tho Hakitikito, a hot water creok, wluch.runs right through the land composed in the lease. Many valuable hot mineral baths with strong curative properties oxist on tho ground, Samples of the various minerals are open, for inspection at the offices of Messrs Laery ai.d Co., Willis street. REMARKS FROM VARIOUS AUTHORITIES. Analysis by Dr Hector, New Zealand Geo, Survey Laboratory, "This is good, Petroleum—its specific gravity is 'BB4, and it yields good commercial kerosene" (Signed) J.Heotor. From Gorhard Mueller, Esq,, Commit sioner Crown 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., Rotorua, 19th November, 18P1. " I waß Bhown over only a small portion of the ground, and- in nil places found Oil flowing freely-even in the bottom of the stream—the 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, " I have 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 the surface, a few feet below it, and also in the bed ot the creek, Hundreds of gallons must have boen finding their way down this stream weekly. 1 consider the very fact of the ground being so much .disturbed by yolcanlc apehcie's, i% very favourable to the supposition of subterranean cay« orns existing capable of containing large reservoirs of oil, which are often deficient in regular sandstone formation, Apart from the petroleum, the value of tins property is greatly enhanced by the interesting variety of hematites, acids and clays, which are- found to purmeate the whole formation, A cora» pound which might be termed paraffin butter is also found in quantities, This is a curious substance, and is very useful 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 horse sores, scalds, and WOUndS, '■..■'.:: NEWSPAPER EXTRACTS. Hot Lnkeß Chronicle, wotorua, 23rd Oct,, 1891. ' The importance of this find prompted us to take 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 creek, and as we walked along our footsteps caused a more perceptible flow. The Oil is not confined to the creok alone, but some distance away it is also found; in fact the ground 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 bored from 600 to COO feet deep, aud in 1869 many of the wells yielded regularly 300 -bands por day. ..We mention this to show that It is possible, and indeed probable, that the. Waiotapufind maybe of the .utmost importance to New Zealand. Tho pro spects are undoubtedly good and everything is being done to make the venture BBUCC6S3, &C, &0., &0. .■! '. H'rom the N.Z. Herald, Auckland, No- ;. vomber. ..: i' "Many poisons have visited the Waiotapu Oil and Mineral Company's ground during the past weok, and a good many fu those who have been hitherto incredulous, Mr Scott allowed them to dig for themselves, the result ibeing they canje