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FIND OF OIL.

IN GERMAN NEW GUINEA

NAVAL AUTHORITIES INTERESTED.

(Received February 28, 8.10 a.m.) .BERLIN, February 27;

The Budget Committee of the Reichstag states that a mining expert has reported the discovery of oil in North-west German New Guinea, and the' committee voted £25,000 sterling to cover the preliminary work of proving the claim. The oil is similar to that found in Dutch India. • The German naval authorities' are deeply interested in the discovery. Four large companies are applying for exploitation, including a monopoly of land and telegraphs and exemption from taxes for* 15 years.

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG19140228.2.31

Bibliographic details

FIND OF OIL., Ashburton Guardian, Volume XXXIII, Issue 8806, 28 February 1914

Word Count
96

FIND OF OIL. Ashburton Guardian, Volume XXXIII, Issue 8806, 28 February 1914

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