THE PETROLEUM INDUSTRY.

Auckland Star, Volume XXX, Issue 278, 23 November 1899, Page 8

THE PETROLEUM INDUSTRY.

GISBORNE, November S

Mr Reginald Brett, who spent some weeks in this district investigating the geological structure; of the country, and inspecting the indications of petroleum which exist, left to-day for London. Mr Brett represents Professor Baverton Redwood, of London, one of.the foremost authorities upon petroleum in Great Britain, and upon whose reports the Petroleum "Review states that millions of pounds of English capital have been invested for tapping petroleum deposits in various parts of the world. Mr Brett will lay a full' report of his investigation's both with regard to this district and Taranaki before Professor Redwood, and iv the "event of the.letter's approval being obtained, the opening and developing of the petroleum industry will be proceeded with without loss of time on an extensive scale. It is understood that Mr Brett has been favourably impressed with the prospects of the oil industry on this side of: the. island, and he has "secured a number of options-to bore upon properties. The local residents will not be asked to risk a penny of their money in the enterprise, for the whole of the capital will be subscribed in England, by persons already largely engaged in the petroleum industry in various parts of the world.