OIL DEVELOP. MOVE
Link With Drilling Contractor Oil Development N.L., Sydney, is linking with Reading and Bates Offshore Drilling Company, of Tulsa, Oklahoma, United States. Reading and Bates is one of the world’s largest oil well drilling contracting firms. Oil Development has acquired on behalf of Reading and Bates the interest of Santos, Ltd., in Oilsand Pty. Ltd, and in the two National 50A drilling rigs, recently purchased in New Guinea. Shares Allotted R. and B. have been allotted 300,000 fully paid Oil Development shares. It has also a five-year option to purchase, for cash, Oil Development shares on the following basis: • 500,000 Oil Development shares at 20s which Oil Development can call on R. and B. to exercise if the Oil Development shares average more than 40s on the Melbourne Stock Exchange for a 60-day period; 250,000 Oil Development shares at 40s each.
New Companies Among company registrations notified In the current Issue of the ’‘Mercantile Gazette" are the following Christchurch companies:— Dick (Maurice), Ltd. Private company, February 6; c/o. D. Ainsworth and Company. 184 Armagh street, Christchurch. Capital: £5OO, Subscribers: Christchurch—W. M. Dick 250, A. C. Goodlad 250. Objects: Motor vehicle dealers and Incidental. Caroline Grocery, Ltd. Private company, February 7; 219 Stafford street, Titnaru. Capital: £2OOO. Subscribers: Timaru—G. H. Mitchell 1999. Christchurch— D. V. Lawn 1. Objects: Grocers, greengrocers and incidental. Spearhead (The) Plastics Company. Ltd. Private company, February 8: c/o. L. M. Hall. 233 Kilmore street. Christchurch. Capital: £5OO. Subscribers: Christchurch—J. E. Anderton 400, P. Anderton 100; Objects: Designers and manufacturers of domestic end industrial goods from plastic or metal and incidental. Bovett Kane Automotive Electrical Company. Ltd. Private company, February 12; c/o. N. W. Whyte, accountant. 183 Cashel street, Christchurch. Capital: £4OOO. Subscribers: Christchurch—W. A. Kane 2000, D. L. Bovett 2000. Objects: Electrical engineers and contractors, and incidental. Capital Increases Bedford Knitting Milla, Ltd., from £B2OO to £14.200. February Papanul Electric, Ltd, from £lOOO to £2OOO. February U.
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Bibliographic details
Press, Volume CI, Issue 29754, 22 February 1962, Page 16
Word Count
323OIL DEVELOP. MOVE Press, Volume CI, Issue 29754, 22 February 1962, Page 16
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