Page 4 Advertisements Column 5

Wairarapa Daily Times, Volume XIII, Issue 4024, 30 January 1892, Page 4

PR 0 S PE OTU S i ' • ' \ 'OF THE ( WAIOTAPIJ OIL .AND' MINERAL COMPANY 1 • . (Lisiitbd), To be Regiatefed. under the Company's Act, 1882,audita Amendments, ' ■, Capital...; '... iiIQO.OOO j 1 (With power to Increase,) In 100,000 sLnrea of £1 each, of which I 60,000 fully paid'up shares will be al- ; lotted to the vendors. The balance of . 50,000 are now offered to the publio on the following tinris—'viz,, 2s Gd per share ' on application, 2s 6d per share on allotment, 2s 6d por share in three .months, and 2s Gd per share in six months, and the balance in calls, or as much bb may be required, nut exceeding 2s 6d per share, to be made at intervals of not less than three months., Directors: T6 be appointed at the First Mdeting of ' . Shaieholders. ; Bahkbes : , ' 'Bank of Australasia, Napier, j ; Brokers ; . NAPIER-B AKER & TABUTBA". WKLLINGTON~L4ERY & 00, AOCKLAKD-FRATBR BROS. DUNEDIN—B. A'. SCOTT." ' 1 ROTORUA-D, GRIFFITHS. SOLICITORS : i Napier, Hew Zealand, Salnsbury & ' . Logan. Melbourne, Austin Baker.' Secretary (pro la.) F. B, Scott, Waiotapu, Rotorua. THIS Company is formed for the purpose, of acquiring from tho 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 Voadors, comprising in all an area of 240 acres, situated : in tho Waiotapu Valley, near Kotorua, New Zealand, and for the purpose of working Petroleum, Oil, and the various Minerals, Hematites, Acids, Ores and Clays, wbioh aro found on the property to be comprised in snch leases. The survey of the lands has recontly been cofepleled tinder directions from the Survey Office, and tho leases will be prepared and issued at once. Before the Memorandum and Articles of Association are registered the leases from theOrown will bo open for Inspection at the office of the Company's Solicitors at Napier. ■ i . The terms of purchase are as follows: -The vendors Bhall receive £IO,OOO in cash and shall have allotted to them 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 x>f tho Memorandum and Articlesof Association of the Company, The yendors are—Oolin Robs, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Boss, station manager, Strathmore; F. Logan, solicitor, Napier; W, Fawknor, gentlemar, Napier; Francis Bernard Scott, gentleman, Waiotapu; J.O. Hankin, runholder, Strathmore; who Ruarantee that all monies will be in the event of the Company not being floated. PEOSPKCIS. 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 saturated 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 exuding and running to waste for years back. It is anticipated that when proper appliances are brought to bear for boring, Oil will be reaohedat no great depth. Being in the region of thermal action, tends aIBO 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 centres—and in Waiotapu tho oil actually undergoes a process of distillation in coming to the surface on aocount of this thermal action and its mixing freely with Sulphuric Acid, Yaluablo clays and hematites are 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-Beemg Waiotapu Valley, and it ia situated about 20 miles from Eotorua, The property is approached from Eotorua by a main line of road leading to Strathmore, Wairakei, and Taupo, and another branoh line to Galatea, which latter forms the eastern boundary, It ia 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 ore open for inspection at the offices of Messrs Laery and Co, ( Willis streot. REMARKS FROM VARIOUS AUTHORITIES. Analysis by Dr Hector, New Wand Geo. Survey Laboratory. " This is good Petroleum-its specific gravity is '864, and it yields good com. mercial kerosene." (Signed) J. Heoior. From Gerhard Mueller, Esq., Commissioner Crown Lands, "I hare been,surprised beyond mea< sure to sot the exudations of Petroleum it bo many places,in your Valley, all of which point to a great reservoir of tliis Oil somewhere thereabouts," JG. 0. MoAuley, Esq., Botorua, 19th November, 1891. " I was shown ovec only a small portion of the ground, and in all 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 .oartbß are also very F, B. Scott, Esq,, Auckland, November, 1891. " I have rosided in the locality of the Waiotapu Petroleum Springs for the last four years, and haye bad every opportunity of calmly: considering the probability of a reservoir existing in that loqaljty. .Throughout all this.company's ground, oil is to be got on the surface,, a few feet below.it, and.also in the bed of the creek, Hundreds. of gallons - must have been finding their way down this stream weekly. 1 consider the very fact of. the ground boing so .much disturbed by yoloanio agencies, is very favourable reservoirs of oil, which are often deficient in regular Bandstme formation, ■ Apart from the .petroleum, tho value of this property is greatly.-enhanced by tho interesting variety of hematites, aeids and clays, which are found to pnrmeate the whole formation, A com* pound which paraffin butter is also found in quantities. This ia a curious subatance, and and effective as an antifriction grease, an excellent salve, and is largely used by the natives tor horso sores, scalds, aiid wounds. NEWSPAPER EXTMOTB. Hot Lakes Ohroniole, liotorua, 2l)rd Oct., 189 i; • ' The importance of this find prompted us to take an interest in the matter by seeing for ourselves what tho 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 con» fined to the creek alone, but some distance away it.is also, found; in r fact. the ground; is perfectly saturated .with it. lar to those found at Oil Creek, Pennsylvania, iu 1860, when, more than : a thousand wells were,bored,from 800 to COO feet deep, and in 1869 many of ithe wells yielded regularly 300 / barrels per day, We mention this to show thai it is possible, and indeed probable, that the Waiotapnfind may be of the utmost importance to New iSeaiand. Tho prospects ate undoubtedly good and everything is being done to make the venture a succeßa, &0., &0., : From the N,Z, Herald, Auckland, No* vember. ;? tapu Oil and Mineral Company's ground during the past weok, and a good many of those who have beenliitherto inoredulous, Mr Scott allowed them to dig for t<