PROMISING INVESTMENT.

Press, Volume LXVIII, Issue 14326, 11 April 1912, Page 8

PROMISING INVESTMENT.

THE TARANAKI N.Z. Oil. WELLS LLAUTED.

The Prospectus oi tin- Taranaki N.Z. Oil Wells. Ltd.. is issued to the public. The Hoard, headed by the Eurl of Ranfurly. is exceptionally strong. Sir Giome Clifford, of vStoiiyhursi. Christchurcli, and Sir John I.anc Harrington. K.C.ALG., of London, will join the Directorate alter allotment. The Oil Trust. Ltd., will act as secretaries and managers, and Air J. 1). Henry, tho eminent expert, whose report on Taranaki oil recently was so emphatic and enthusiastic, will continue to be the technical adviser.

The Taranaki S.A. Oil AA'ells. Ltd.. is formed to acquire the oil rights over some five thousand acre.s of oil lands at New Plymouth, so far held by tho Taranaki Petroleum Company, Ltd. On the property are three flowing wells yielding filtein thousand gallons of oil per week. Over three hundred thousand gallons are already stored pending the erection of a refinery. The finality of oil in the three wells now flowing is remarkably high, containing over 17] per cent, of paraffin wax. Craig-*, of Paisley, recognised authorities, .state:—"We are aware of no natural petroleum which has been found to be so rich in (his valuable product.'*

Taranaki oil has become a practical enterprise of a. magnitude which cannot fail to impress the public. It is significantly a development which means much to those who are in a position to acquire an interest. NewZealand, as a Dominion, is naturaJl.v to a bigger- extent still concerned iii its success. The establishment and expansion of this great industry should, in (diorf. be -regarded as ail important national achievement. _