Page 4 Advertisements Column 1

Wairarapa Daily Times, Volume XIII, Issue 4022, 27 January 1892, Page 4

p:iOS PECTUS OF HIE WAIOTAPU OIL AND MINERAL COMPANY (Limited), To be Registered under the Company's Act, 1882, and its Amendments. Capital ... £IOO,OOO (With power to Increnao.) In 100,000 shares of £1 each, of which 50,000 fully paid up sbnrea will bo allotted to the vondors. Tho balance of 60,000 are now offered to the public on the following terms—viz,, 2s 6d per share on application, 2s 6d per share on allotment, 2s 6'd per share m throe months, and 2s On* per share in six months, and thabalanco in calls, or aa much as may bo roquired, not exceeding 2s 6d per share, to be niado at intervals of not leßs than threo months. DIBEOTOEH ! To be appointed at the First Meeting of Shareholders. Bankers : Bank of Australasia, Napier. UuoKEiis ; NAriKR-BAKEIUTABUTEAn. Wf.lungton~UEßY&CO. Aockland-FRATBRBROS. DONEDIS-B.A.SOOTT, Roiorua-D. GRIFFITHS. Solicitors': Napier, New Zealand, Sainsbury & Logan. Melbourne, Austin Mer. &ECRETARV (jot tan.) F, B.'Scott, Waiotapu, Rotorua. , .THIS Company is formed for the X purpose of acquiring from the owners all benelilß whatsoever and all riplits under certain doods of lease from tho Crown which are being granted by the Crown to certain of the Vondors, comprising in all an area of 240 acres, situated in tho Waiotspu Valley, near Rotorua, Now Zealand, and for the purpose of working Petroleum, Oil, and the various Minerals, Hematites, Acids, Ores and Clays, which aro found on the property to bo comprised in such leases. The survey of tho lands his recently been completed under directions from the Survey Office, and tho IeaBOB will be prepared and issued at onco. Before the Memorandum and Articles of Association are registered the leases from the Crown will bo open for inspection at tno office of the Company's Solicitors at Napier. Tho terms of purchase ato aB follows; -The vendors shall recoivo £IO,OOO in cash and shall have allotted to tliem 50,000 fully paid up shares in the Company. An agreement embodying the terms of tho sale and purchase will be incorporated with and form part of the Memorandum and Articlesof Association of the Company. The yendors aro-Colin Ross, runbolder, Melbourne; Edward Douglas, settler, Tauranga j Donald Ross, station manager, Strathmoro j F. Logan; solicitor, Napier; W, Fawkner, gentlemar, Napior j Francis Bernard Scott, gentleman, Waiotapuj J.O. Rankin, runholder, Strathmore; who guarantee that all monies will bo returned in the event of tho Compwy not being floated.

PROSPECTS. Petroleum of & very line 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 hayo been er.uciing and running to waste for ytara hack. _ It is anticipated that n hen proper appliances are brought to bear fur borim;, Oil irT be reached at no great depth, Being in the region of thsrmal 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 quantity in the region of active volcanic CBntresand in Waiotapu the oil actually undergoes a process of distillation in cominc; to the surface on account of this thermal action and its mixing freely with Sulphuric Acid, Valuable clays anil homatitos are to be found in large quantities, also iron ores, oxides, and many othor 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 Sight-Beemg 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 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 specific gravity is 'BO4, and it yields good commercial korosene," (Signed) J.Heotoe. From Gorhsrd Mueller, Esq., Commissioner Crown Lands. "I have 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, 1891. " I was shown over only a small portion of the ground, and in. all places found Oil flowing freely-oven k the bottom of the stream—the earth, is also lull 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, 1891. * 11 1 have resided in the locality of the ■Waiotapu Petroleum Springs for the lastfeur years, and have 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 havo been finding their way down this Btreani weekly, 1 consider the very fact of the ground being so much disturbed by volcanic apencies, is very favourable to the supposition of subterranean caverns existing capable of containing large reservoirs of oil, which are often deficient in regular sandstaio formation, Apart from the petroleum, the value of this property is greatly enhanced by the interesting variety of hematites, acids and claya, which are lound to purrnoate tho whole formal ion. A compound which might bo termed parafliu butter is also found in quantities, This is a curious substance, and is very useful and clfccttvo as an anti-friction grease. Tho petroleum In its crude slate makes an excellent salve, and is largely used by the natives lor horse sores, scalds, and wounds. NEWSPAPER EXTRACTS. Hot Lakes Chronicle, Kotorua, 23rd Oct., 1891. ' Tho 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 wo paid a visit to the Valley. The Oil is seen floating down a creek, and as we walked along our footsteps caused a inore perceptible How. The Oil is not confined to the creek alone, but some distance away it is also found; in fact the ground iB perfectly saturated with it. I The indications of Oil are precisely similar to those found at Oil Creek, Pennsylvania, iii 1860, when more than -a thousand wells were bored from 500 to COO feet deep, ond in 1869 many of the . wells yielded regularly 300 barrels per day. \Ve mention thisto ehovr that it ia possible, and indeed probable, that the * Waiotapu find may be of the utmost D importance to New Zealand. Tho pro • spects are undoubtedly "nodaud everything is beinx doue to make the venture r a success, &o.; &o„ &c, from the N,Z. Herald, Auckland, No- ' vomber.. ' '' " Many porsons have visited the Waio- V tapu Oil and Mineral Company's ground ' during the past week, and a good many o those who havo been hitherto incredu- > lous, Mr Scott allowed them to dig for