Page 3 Advertisements Column 5

Wairarapa Daily Times, Volume XIII, Issue 4023, 28 January 1892, Page 3

[■ PRO S PECTUS '; fIFTIIE' '■■.';.'•■ WAIOTAPU OIL AND MINERAL COMPANY (Limited), , ~, To be Regißtoved under tho Company's Act, 1882, and its Amendments. Capital ... ... ... '. ■ £IOO,OOO (With power to Increase.) In 100,000 shares o? £1 each, of whioh 50,000 fully'paid up Bhares will be allotted to tlio vendors. Tho balance of 50,000 are now offered to the public on the following terms—viz,', 2a6d per share on application, 2a 6d per share on allotment, 2s Cd per share m three months, and 2s fid per share in six months, and the balance in calls, or as much as may bo required, not exceeding 2s' 6d per share, to be made at intervals of not lees than three months. . Directors:. To be appointed at the First Meeting of Shareholders. Bankers : Bank of Australasia, Napior. 14rgkerb ' Napier-BAKER&TABUTEAJJ, WKuraoioN-UERY&CO. Aockland-FEATERBEOS. " UUNBM-B.A.SOOTT. Rotorua-D, GRIFFITHS. Solicitors .:' Napier, Hew Z.-a!and, Sainsbury & Logan. Melbourne, Austin Baker, Secretary' (pro tern.) F, B. Scott, Waiotapu, Rotorua. nnHIS Company is formed for the J, purpose of acquiring from the owners all benefits whatsoever and all rights 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 240 acres, situated in tho Waiotanu Valley, near Rotorua, New Zealand, and for the purpoao of working Petroleum, Oilj and the various Minerals, Hematites, Aoids, Ores and Clays, .which are.tpund on the property to be comprised in such leases. The survey of the lands has recently beon completed under directions from the Survey Office, and the leases will be propared and ißsued at once, , Before the Memorandum .> and Articles of Association are registered the leases from tho Crown will be open for inspection at the office of the Company's Solicitors at Napier. The termß of purchase are as follows! -The vendors shall receive £IO,OOO in cash and shall havo allotted to them 50,000 fully paid up Bhareß'in the Company. An agreement embodying the terms of the sale and purchase will be incorporated with and form part of the Memorandum and Articlespf Association of tho Company. . The yendors are—Colin Ross, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Ross, station manager, Strathmore; F. Logan, solicitor, Napier; W. Fawkncr, gentlemar, Napier j Francis Bernard Scott, gentleman, Waiotapu; J,O, Rankin, runholder, 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 lease, is fairly aaluratod with it; in the creeks also it is to bo seen flowing freely, clearly showing that wells of this rock Oil exist somewhere in this locality, and haye been emding and running to waste for years hack. It is anticipated that when proper appliances aro brought to bear for boring. Oil will 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—bb in Russia it is found in its greatest stato of purity and quantity in the region of active volcanic centresarid in Waiotapu the oil actually undergoes 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, oxido3, and many other valuable ores and pigments-all of whioh will find a ready

The area for operations ooaaists of the most valuable portion ot the famous sight-seeing Waiotapu Valley, and it is situatf.d about 20.miles from Rotorua. The property is approached from Botorua by a main line of road leading to Strathmore, Waivakei, 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 Hakiti' kite, ft hot water creek, which runs right through the land cornp-isod in the lease. Many valuable hot mineral hatha 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 specitio gravity is 'BU4, and it yields good commercial kerosene." (Signed) J, Heotob. From Gerhard Mueller, Esq., Commissioner Crown Lands,

' " I have been surprised beyo.nd, measure to sec the exudation's of, Ppjroloum at 6fl many places jn your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts," ; G. O. 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-evon in the bottom of tho stream—tho earth is also full of Oil. I consider the prospect is an excellent one. The numerous and varied; coloured cartba are also very valuable." P. B. Scott, Esq,, Auckland, November, < IP.9}. ''lhave raided in the locality of the Waiotftpii Petroleum Springs for the last few 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 tho bed ot the creek, Hundreds of gallons must have been finding their way dovfn "th'is stream lyeekly, "J consider the.very fact of' the ground being so pph disturbed by yolcanib acencies, is very favourable to the supposition of subterranean cayems existing capable of containing large reservoirs of oil, which are often deficient in regular sandstono formation,.' Apart from the petroleuny-ilhe value of this property is greatlj enhanced by the interesting variety of hematites, acids and clays, which are found to purineate tho whole formation, A compound which might ty termed paraffin butter io sdso found lii quantities. This is a curious substance, and is very useful and effective an an anti-friction grease, The' petroleum in its crude state makes an excellent salve, and; in .'largely used by the natives tor horse' 6osb ( sgalds,and wounds', - ' " NEWSPAPEREXTRACTS. B[oi liaises Ohfoniole, aotorua, 2M Oct., 1891. 1 The importance of this find prompted us to take an interest in. the matter by Beeing for ourselves what the prospects really are. With this view we paid a visit to the Valley, The Oil is seen floating down a, greek, anil as we along our footsteps caused a more perc'eptiblo flow. The Oil is not confined to the creek alow, but Borne distance away it is also found jin fact the ground is perfectly saturated with it.; The indications of Oil are precisely simi hvr to those found at Oil Creek, Pennsylvania, in. 1860, when more than a thousand wells were bored from 600 to COO feet deep, and in 1869 many of tho ■ wells yielded reeularly 800 barrels per day... Wo mention this to show that it is possible, and indee.l probable, that the Waiotapufind may be of the utmost . importance to New Zealand, Tho pro , spectste undoubtedly good and everything is being done to taake the' Venture a success, &c„ i: &e„ |q.' ,"• '"' '' . , Ftfia {he N.2j. Herald, Auckland, No- ''/ ' ' : votaber, " " ■"'' '■ ".Many;personßh4ye,yißitedthoWaio. tapu Oil and Mineral Company's ground ! daring.the.past Week, and, a good many ; o'those who'hayobeen hifcliertb'incredui lous! ,;tyr the.ni'to dig for i themselves, t,he result bejnHhey canie