Page 4 Advertisements Column 5

Wairarapa Daily Times, Volume XIII, Issue 4017, 20 January 1892, Page 4

PB.OS.PEO TUB OF THE . 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 which 60,000 fully paid up shares will be -al' lotted to the vendors, The balance of 50,000 are now offered to the public on the following termß—viz,, 2s 6d per share on application, 2a 6d pctßhare ,on allotment, 2s Gdper share in three months, and 2a (id per share in six months, and the balance in calls,' or as muoli as i may be required, not exceeding 2s 6d per share, to be made at intervals of not less thau threo months."... Directors': To be appointed at the First Meeting of Shareholders, Bankers ; Bank of Australia, Napier. Brokers ; Napier-BAKER & TABUTEWI, WmiNGTON—L4ERY & CO, Auckiand-FRATER BROS. Ddnedin-R, A. SCO 11'. Rotorua—D, GRIFFITHS, Solicitors : Napier, New Zealand, Salnsbury & Logan. Melbourne, Austin Raker. - Secretary (pro (cm.) F. B. Scott, Waiotapu, Rotorua. mHIS Company is formed for the X purpose of acquiring from the owners all benefits whatsoever and all riplits under certain deeds of lease from the Crown which are being granted by the Crown to certain of the' Vendors, comprising in" all an area of 210 aoros, situated in tho Waiotapu Valley, near Rotorua, New Zealand, and for the purposo of working Petroleum, Oil, and the various Minerals, Hematites, Adds, Ores and Olays, which are found on the property to be comprised in ,suoh leases, The survey of the lands has recently been cumpleled under directions from the Survey Office, and tho leases will be prepared and issued at once, '! . Before the Memor indum and Articles of Association are registered i the leases from the Crown 1 will be open for Inspection at the office of the. Company's Solicitors at Napier. . Tho terms of purchase are asfollows; -The vendors shall receive £IO,OOO in cash and shall have allotted to ttiem 50,000 fully paid up shares in the Company. An agreement embodying the terms of the sale and purchase will be incorporated with and form part of the Memorandum and Articlesof Association of tho Company. The yendors are—Colin Ross, runboldor, Melbourne; Edward Douglas, settler, Tauranga; Donald Ross, station manager, Strathmora; F. Logan, solid* tori Napier; W. Fawkner, gentlemar, Napier; Francis Bernard Scott, gentleman, Waiotapu; J.O. Rankin, runholder, Strathmore; who guarantee that all monies will bo returned in the eyent of tho 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 tho Company's lease, 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.uding 'and running to waste for years back. It is anticipated that when proper appliances are brought to bear for boring. Oil will be roaohod at no great depth. Being in tho region of thermal action, tends also to favour the opinion of a great Petroleum source being situated in this locality—as in Russia it Is found in its greatest state of purity and quautity in tho region of active volcanic contres—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 freoly with Sulphurio Acid, ~ Valuable clays and hematitos are to be found in large quantities, also iron ores, oxides, end many other valuable ores apd pigments—all of which will find a ready market.

The area for operations consists of the most valuable portion of 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, Waivakei, andTaupo,and another branch lino to Galatea, which latter forma the eastern boundary. It is also Well 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 speoifin gravity is '864, and it yields good commercial keroseno." (Signed) J, Hector. From Gerhard MueHor,'Esq,, Commissioner Crown Lands. "Ihaye been surprised beyond measure to see the exudations of Petroleum at so many places in yoor Valley, all of which point to a great reservoir of this Oil somewhere thereabouts," G. 0, McAuley.Esq., Rotorua, 10th November, 18P1, " I was shown ovet only a small portion of the ground, and in all places found Oil flowing freely -evon 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," P. B; Scott, Esq,, Auokland, November. 1891. . " I have resided in the locality of the Waiotapu Petroleum Springs for this 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 feet bislow 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 volcanic apenoies, is very favourable to the supposition of Bubterranean cayems oxisting capable of containing large reservoirs of oil, which are ofton deficient in regular sandstone formation, Apart from the petroleum, the value ofthiß property is greatly enhanced by the interesting variety of hematites, acids and clays, which are found to purmeate the whole formation. A compound which might bo tormed paraffin butteris also found in quantities. This is a curious substance, and is very useful and effective as an anti-friction grease, The petroleum in its crude state makes an excellent aalve, and is largely used by the natives tor horse sores, scaldß, and wounds. NEWSPAPER EXTRACTS. 1 Hot Lakes Ohroniclo, ttotorua, 23rd Oct., 1891. 'The importance of this find 1 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 iB seen floating down a creek, and as we walked along our footsteps caused a more perceptible flow, .. The Oil is not .confined to.the creek alone; but Borne distance away it is also found; in fact the / around is perfectly saturated., with it i The indications of Oil are preoißely simi- { lar to those found at Oil Creek, Penn- j Bylvania, iii 1860, when more than a j thousand wells were bored from 600 to i COO feet deep, and in 1869 many of the wells yielded regularly 300 barrels per day. We mention this to show that it is possible, and indeed probable, .that the' Waiotapu find, may be of the .utmost importance to New Zealand, Tho pro spects are undoubtedly good eyery- . thing is being done to make the yentupe a success, &c., &p., &P. from thuXfr Herald, Aucjdand, " vopibej;; : ... ''] "Many persons have visited the Waiotapu Oil and Mineral Company's ground, v during the past weok, and a good maDy g fo those who have been hitherto inereduloua.j. Mr Scott allowed them to dig for 4 themselves, the result being they owe 4