Notice lifted
General Properties Corporation, Ltd, has formally lifted its don’t sell notice to shareholders. Well depths The Tipoka-lS well, 17km north of Opunake in South Taranaki, was at a depth of 4162 metres by 6 a.m. yesterday, Petrocorp (Exploration), Ltd, said. At report time the well had been electrically logged and results were being evaluated. Preparations were being made to drill ahead. The Ahuroa-1 well, which is about 20km south-east of Inglewood, was at 2516 metres by 6 a.m. Electric logs had been run to that depth and these confirmed the absence of producible hydrocarbons so far.
Com Sec issue Commercial Securities, Ltd, proposes to issue 2 million ordinary shares to two executive directors, the board has announced. Under the proposal the directors would give up certain existing business arrrangements allowing them to devote their time to the affairs of Commercial Securities. The company has agreed to allot the shares at 200 c a share, initially paid to only 1c each, with the balance payable during the next three years. Salmon stake Saudi New Zealand Capital, Ltd, and Clypex Resources, Ltd, have jointly purchased the one third interest of BP New Zealand, Ltd, in the Big Glory Salmon Venture.
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Press, 11 September 1986, Page 24
Word Count
200Notice lifted Press, 11 September 1986, Page 24
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