Page 4 Advertisements Column 6

Wairarapa Daily Times, Volume XIII, Issue 4031, 6 February 1892, Page 4

v cl PRO S PECTUS • - .OP THE . , d WAIOTAPU OIL AND t! MINERAL COMPANY _ "{LIMIIBD), To be Registered under (he Company's Act, 1882, and its Amendments, Capital ... ... ,„ ±'loo,ooo (With power to Increase,) In 100,000 shares of £1 each, of whioh 2 50,000 fully paid up shares. will be al- . lotted to the vendors, The balance of n 80,000 are now offered to the publio on the following terms—viz,, 2s 6S per share on application," 2s 6d per share on allot" ment, 2s 6d per share in three months, and 2s 6d per share in six inonths, and the balance in calls, or as ravioli, as may be requited, not exceeding 2s 0d : per share, to be made at intervals of not less than three months. Dibeciobb: Tojbe appointed at the First Mooting of Bank of Australasia, Napier, Naner—BAKEß & TABUTEATT, Wellington—LAEßY & CO. Adckmnd-FBATER BROS. Dunedih—E.A.SO'OTT, Rotokua-D, GRIFFITHS, Solicitors : Napier, New Zealand, Sainsbury & Logau. Melbourne, Austin Baker. Secretary (pro tern.) F. B. Scott, Waiotapui Rotorua. :. rpHIS Company is formed; for the 1 purpose of acquiring from the owners all benefits'whatsoever and all ripbts under certain deeds of lease from theOrown which are being granted by Crown to certain of the Yenddrs, comprising in all an area of 210 acres, situated in tho Waiotapu Valley, near Kotorua, New Zealand, and for the purpose of working Petroleum, Oil, and the various.Mineralfl, -Hematites,- Acids, Orosand Clays, which are found on tho property to be comprised in snch leases, The survey of tho lands has recently en completed under 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 the Crown will be open for inspection at the office of the Company') Solicitors at Napier. Tho terms of. purchase are as follows: —The vendors shall .receive £1)1,000 in cash and shall -have allotted to them 50,000 fully paid up Bhares in tho Company. An agreement embodying the terms of tho sale and purchase will be incorporated with and form part of the Memorandum and Atticlesof Association of the Company. . .■ The yendors aro—Colin Ross, run 1 holder, Melbourne; Edward. Douglas, settler, Tauranga; Donald Ross, station ager, Strathmore; F. Logan, aolicitor, Napier;'W. Fawkner, gentlemar, Napier ; Francis Bornard Scott., gentleman, Waiotapu; J. C. Kankin, runholder, Strathmore; who guaran tee that all, monies will be returned in the event of the Company not being floated. PROSPECTS. Petroleum of a very fine- quality been found in a number of places, and the ground, in many portions of the Company's leaso, is fairly saturated with H.j 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 hayo. been er.uciing and running to waste for years back. It i' anticipated that ulien proper appliances are brought to bear for boring,. Oil will be reached at no great depth. Being in the rooioD of thermal action, tends to favour the opinion' of a great Fetro leum source being situated; in this locality—as in Russia it ls.fouud in its greatest state of purity and quantity in the region of active, voleanio c and in Waiotapu the oil actually under' goes a process of distillation incoming to the surface, on account of this thermal action and 1 its mixing freely with Sulphuric Acid, Valuable clays and hematites are to bt found in large quantities, also iron ores, oxides, and many other valuable ores and pigments—all of whioh will find a ready market. portion ot the famous sight-seeing,Waiotapu Valley, and it is situated Übo'ut-20.. miles .from Rotorua.

The property is approached from Kotorua by a main lino of road leading to Strathmore, Wairakei, and Taupo, and anothjßr branch; line to'/ Galatea,. which 'latter forms the'eastern boundatyi 1 It irako well watet'Sd by the' Waikokomukii,, a large fresh water stream, arid tho'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 tlm ground, "" Samples of the various minerals are open for inspection; at- tho 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 ia.;BG4, and it yields good com- 1 mercial kerosene." (Signed) J.Heotor. From Gerhard Mueller, Esq., Commissioner Crown Lands. > " I haye 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." 1 6.0. MoAuley, Esq., EotoruSi, 19th November, 18P1. . " I was shown uw only a small portion of the ground, arid in all places found Oil flowing freely-revon in the bottom of the Btream—the earth is .also full of Oil. I consider the prospect iaan excellent one. The numerous an 4 varied coloured earths are .also, very valuable." F, B, Scott, Esq,, Auckland, November, . 1891 ' ; " I have.resided in the locality of the .Waiotapu.Petroleum Springs .the lastfcur years, and haye had every opportunity of calmly considering - the probability of a reservoir existing in that locality. Throughout all thia company's ground, oil is to be got on the surfaco,, a few feet below it, and'also in the bed pi the;creeki'; ;Hiindreda of; gallons ;mnat iiave been finding their way down this stream weekly. . I,consider the very fact of the ground being so much disturbed by yolcanio apenciea, is very favourable to the supposition of subterranean cay* ems existing capable of containing largo reservoirs of oil, which are often deficient in regular sandatone formation, : Apart from the .petroleum, the value ofthis property is-greatly enhanced by the interesting variety of hematites, acids arid clays, which are found t.i purmeate the whole formation. A compound which might be termed paraffin butter is also found m quantities. This is a curious substance, and is very useful and effective an an anti-friotion grease. The petroleum m its crudo state makes an excellent salve, and is largely ÜBed by the natives tor horse sores, scalds, and wounds. NEWSPAPER EXTMOTS, Hot lakes Chronicle, ivbtorua, 23rd Oct., 1891. 1 The importance of this find prompted us to take an interest in the matter by. seeing for ourselves what .the prospects really are. With thia view wo paid a visit to the Valley. The Oil is seen floating down a creek, and as ye walked alongbur footsteps caused a more perceptible flow.! Tho Oil is not confined to the creek-alone, but some distoo away it'ia also found; in ■ feet the ground is perfectly'saturated with it. The indications of Oil are precisely simi lar to thoae found at Oil Creeki'Teim* sylvania, iu 1860; when more than!a thousand wells were bored'from 500 to COO feetdeep, and in 1869 many of the wells yielded rowlarly 300 barrels per day. We mention this to show that it is possible, arid indoed'probabl a, that the Waiotapufind may Be of the utmost importance to New Zealand. Tho pro specta'are undoQbtedly good arid everytung is being done to make the venture a success, &c., &c., &o. From the .N.Z.- Herald, Auckland, No- '..' veraber. " Many persons have yisited the Waio. tapu Oil and Mineral Company's ground during the past woik, arid a good many, of those who have been hitherto irioredukgi, Mr Scott allowed them to dig for