Page 4 Advertisements Column 1

Wairarapa Daily Times, Volume XIII, Issue 4021, 26 January 1892, Page 4

piiosmTus OP THE WAIOTAPU OIL AND MINERAL COMPANY (Limited), To be Rogistored undor the Company's Act, 1882, and its Amondmonts. Capital 1100,000 (With power to Increase.) In 100,000 shares of £1 each, of which 60,000 fully paid up shares will be allotted to the vendors. The balance of 60,000 are now offered to the public on the following torma—viz., 2s Gd per sharo on application, 2s 6d per share on allotment, 2s Cd per sharo in three months, and 2s Gd per share in six months, and ; the balanco in calls, or as much as may be required, not exceeding 2s 6d per sharo, to bo uiadoat intervals of not less than three months. DIHECTOBii: To bo appointed»(the First Mooting of Sharoholdors, BASKBRS : Bank of Australasia, fiapier. Brokers ;

Nahee-BAKER & TABUTEAU. Wklukqton-LAERY & CO, Acckland-FRATERBROS. Dunedin-R.A.SCOTT. HoionUA-D, GRIFFITHS. SoiiciiOHS : Napier, Now Zealand, Salnabury & Logan. Melbourne, Austin Baker. &ECRETAKV (jOT feill.) F. B, Scott, Waiotapu, Rotorua. THIS Company is formed for the purposo of acquiring from the ownors all benefits whatsoever and all riphts undor certain deeds of lease from the Crown which are being granted by the Crown to cortain of the Vendors, comprising in all an area of 240 acros, situated in the Waiolaou "Valloy, near Rotorua, New Zealand, and for the purpose of working Potroleum, Oil, mi the various Minerals, Hematites, Acids, Ores and Clays, which are lound 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 the leases will be prepared and issued at once. Before the llemonndura and Articles of Association are registered the leases from tho Crown will be open for inspection at tho office of the Company's Solicitors at Napier. The terms of purchase ato as follows: -The vondors shall recoive £IO,OOO in cash and shall Imvo allotted to thorn 50,000 fully paid up Bhares In tho Company. An agreement embodying the terras of tho sale and purchase will be incorporated with and form part of the Memorandum and Articlesof Association of the Company. The yendors are-Colin Ross, runholder, Melbourne; Edward Douglas, Bettler, Tauranga; Donald Boss, station manager, Strathmore; F, Logan, solicitor, Napier; W. Fawkner, gentleman, Papier; Francis Borrard Scott, gentleman, Waiotapu; J.C. Rankin, runholder, Strathmore; who guarantee that all monies will bo returned in the event of the Compmy 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 the creokß al«o it is to be seen flowing freely, clearly showing that wells of this rock Oil exist somewhere in this locality, and hayo been exuding and running to waßte for years back. It is anticipated that when proper appliances are brought to bear for boring, Oil mil be reached at no great depth. Being in the region of thermal action, tends also to favour the opinion of a great Petroleum source being situated in this locality—as In Russia, it isjbund in its greatest stato of purity and quantity in the region of active volcanic centres—and in Waiotapu the oil actually undergoes a process of distillation in coming to the surface on account of thisthormal action and its mixing freely with Sulphuric Acid, Valuable clays and hematites' aro 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 area for operations consists of the most valuable portion ot the famous Bight-seeing Waiotapu Valley, and it is eituatf.d 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 line to Galatea, which latter forms 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 hotminocal baths with strong curativo 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 —ita specific gravity is 'BO4, and it yields good commercial kerosene." (Signed) J.Heotor. From Gerhard Muollor, Esq,, Commissioner Crown Lands. 11 1 haye been surprised beyond mca. sure to bc« tho oxudations of Petroleum at so many places in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts." G. O. McAuley, Esq., Rotorua, 19th

November, 18P1. "I waß shown over only a small portion of the ground, and in all places found Oil flowing freely-oven in the bottom of the stream—the earth n also full of Oil. I consider the prospect is an excellent one. Tho numerous and varied coloured earths are also very valuable." F.B. Scott, Ebo,, Auckland, November, 1891. " I have resided in tho locality of tho Waiotapu Petroleum Springs for the lastfeur yoars, 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 bo got on the surface, a few feet below it, and also in tho bed ol the creek, Hundreds of gallons must have been finding their way down this atream weekly. 1 consider the very fact of the ground being so much disturbed by yolcanic agencies, i« very favourable to tho supposition of subterranean cayerns existing capablo of containing large reservoirs of oil, which are often deficient in regular sandstone formation, Apart from the petroleum, the value of this 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 be termed paraffin butter is also found in quantities. This is a curious substance, and is very useful and effective at an anti-friction grease. The 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 Lakes Chronicle, Kotorua, 23rd Oct., 1891. 1 Tho importance of this find prompted ub to take an interest in tho matter by seeing for ourselves what tho prospects really are. With this view we paii 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. Tho Oil is not confined t j the creek alone, but bouio distance away it is also found; in fact the ground is perfectly saturated with it. The indications of Oil are precisely simi. lar to those found at Oil Creek, Pennsylvania, in 1860, when more than a thousand wells were bored from 500 to COO feet deep, and in 1869 many of the wells yielded reeularly 300 bawls per day. Wo mention this to show that it is possible, and indeel probable, that the Waiotapu fiud may be of the utmost importance to New Zealand. Tho pro spectaarc undoubtedly good and everything is being done to make the venture a success, &o„ &c., &c. From tho N.Z. Herald, Auckland, No-

• vcmber, "Many persona have visited the Waiotapu Oil and Mineral Company's ground during the past week, and a good many o those who have been hitherto inereduloub. Mr Scott allowed them to dig for {b9KßelYM,tbe result being they came