No Trace Of Oil In Inglewood Well

Press, Volume CII, Issue 30153, 10 June 1963, Page 15

No Trace Of Oil In Inglewood Well

(New Zealand Press Association)

WELLINGTON, June 9.

The Inglewood No. 1 “wildcat” well drilled by Shell-8.P.-Todd Oil Services, Ltd,, has proved to be a “dry” hole.

A drilling rig would probably be transferred to the company’s licensed area orn the West Coast of the South Island towards the end of the year, said the chairman of directors of the exploration company (Mr J. B. Price) in Wellington today. “Even though we have drilled to 16,600 feet—which makes it the deepest well in the Southern Hemisphere—we have found nothing more than insignificant traces of petroleum,” he said. “We shall be testing the uncased lower section of the well during the next day or two, but we do not expect anything worth while to show up. “This does not mean that the company sees no further prospects in Taranaki, or that it is discouraged. Seismic surveys are continuing.” Mr Price said that oil ex-

ploration was generally recognised as a hazardous venture. Out of the eight wells drilled so far by the partners, four had been unsuccessful. The cost of the joint ventures was now approaehiing the figure of £8,000,000. Towards the end of the year, the smaller rig was likely to be transferred to the company’s licensed area on the West Coast of the South Island. Mr Price said that the results of the seismic surveys suggested the desirability of drilling in the Taramakau and Arahura areas