TARANAKI OIL FIELDS
i (PnrSS ASSOCIATION* TELEGRAM.) NEW PLYMOUTH, December 22. The directors of tlie Taranaki 1 etrr.lcum Comnanv report that the whole of the phut liar, been thoroughly overhauled by tlie new manager, 'Mr r.cith, who recommend., the cleaning out of No. 1 bore, which continues to ft;-".- it the rate of one barrel per day. and lie thinks it may be made payable. The directors decided to r.dopt tho rec< niiiieii'lation. Drilling is proceeding in No. 2 bore, vwiei-o important developments may take place at any moment, and No. 3 '' yehhiiK six to eight barrels per day. winch at 10s per barrel will pay 10 per cent, on the cost of the well, .a;, well as a share of the management expenses. t The water is cffectivelv shut off, and tne uirectors have decided to mako a prolonged test to prove the capacity of tlie well.
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Press, Volume LXV, Issue 13613, 23 December 1909, Page 4
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148TARANAKI OIL FIELDS Press, Volume LXV, Issue 13613, 23 December 1909, Page 4
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