CANTERBURY PETROLEUM CO.
A meeting of the directors of the Canterbury Petroleum Prospecting Co. Ltd., was held in tlie company's office West Street, yesterday afternoon. Mr Wilkinson, chairman of the company^ presiding. The manager (Mr A. Joyce) reported that tho well at Chertsey had been drilled to 1952 feet, tho strata being clay with some sandstone shingle. Ninety-five additional shares were allotted', bringing the total of allotted •-hares up to 16,000. There are 9000 shares held in reserve, which it is not intended to issue at present lne manager stated that the indications at the well wero sufficiently good to make it advisable to keep the reserve intact as ho considered that there is a good prospect of obtaining payable oil within the next GOO feet. Two thousand five hundred feet of four inch casing ts under order from Canada, and should arrive in about two months, bufficient five-inch casing is available to carry tlie woll to 2200 feet.
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Ashburton Guardian, Volume XXXIX, Issue 9650, 5 July 1919, Page 3
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159CANTERBURY PETROLEUM CO. Ashburton Guardian, Volume XXXIX, Issue 9650, 5 July 1919, Page 3
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