CANTERBURY PETROLEUM PROSPECTING COMPANY, LTD.
A meeting of the directors of the Can tor bury Petroleum Co., Ltd., was held at the companies office on Friday afternoon. Mr C. J.. Harper (chairman) was unable to attend and the chair was taken by Mr W. Sparrow. One hundred and seventy-five shares were allotted, bringing the total sharo issue up to 11,757.
The manager (Mr A. Joyce) reported that the 10 inch casing, purcahsed from .one of the Taranaki companies, had been received. This casing had been socketed and placed in the well and sinking resumed. The 12 inch casing was down to 895 feet and the 10 inch had now reached 960 feet. The strata was still clay and shingle^ The total length, of 10 inch easing received was 1059 feet.
It was decided to purchase 150 or 200 feet more 10 inch casing which should enable the. well to be put down to 1200 feet, and it was hoped would reach beyond the alluvial deposit. The manager suggested that the sale of shares should not be pushed beyond 12,500. the total share issue being limited to 20,000; This would leave a. fair number in hand which could be reserved for shareholders in the event of favourable indications being obtained.
Tho area of concessions held by the company is now more tlinn .188.000 acres, and is being steadily increased.
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Bibliographic details
Ashburton Guardian, Volume XXXVI, Issue 8508, 22 July 1916, Page 3
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228CANTERBURY PETROLEUM PROSPECTING COMPANY, LTD. Ashburton Guardian, Volume XXXVI, Issue 8508, 22 July 1916, Page 3
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