TARANAKI PETROLEUM.

Bush Advocate, Volume XXI, Issue 94, 19 October 1908, Page 3

TARANAKI PETROLEUM.

[PRESS ASSOCIATION.] NEAV FLY?.!Orili, October 17

The nia'ii'jZ'.'r o! tho Taranaki Petroleum Company reported to the directors !a.;l. night as follows-. —

"This afternoon, tlio &as of No. 2 boro \v;i* cnmi.ig- very strongly and the well was dry. ' Cuttings thrown up by the gas contain a quantity of oil and the indications continue to improve. The gas continues to flow at from 80,000 to 100,000 feet per day." Shares are at 6s 6d this morning. Later. At ten this morning the manager reported- to the directors that therewas 500 ft of oil in No. 2 well, mostly pure, but a small portion mixed with debris from a mud vein struck recently. Iron tanks are t&Jhg moved over to f ho well to hold the oil, which the manager says may settle down to two barrels a day or perhaps develop to fifty barrels or more. The directors aVlyise shareholders not to be led away as it is impossible yet to say what the prospects, may be, but they can-- *est assured that they will bei promptly-informed. -