TARANAKI PETROLEUM.

Dominion, Volume 1, Issue 302, 15 September 1908, Page 8

TARANAKI PETROLEUM.

A PRESENT POSITION OF THE INDUSTRY. , PROPOSED GEOLOGICAL SURVEY. (Br TELEGttAriI. —SPECIAL CORRESPONDENT 5 New Plymouth, September 14. Thoro is not the usual kocn interest in tho forthcoming annual meetings of tho Taranaki petroleum boring Another year has gone, and still the elusivo oil has dodged the drillers.' The Inglewood Oil and Prospecting Company, after boring over 2000 feet without finding a traco of petroleum, has abandoned the bore, and dismantled the derrick, but proposes to sink another bore. The Moa Company, in the same district, and the New Plymouth Company, in the Omata District, have both closed down for some months. Boring continues at the Taranaki Petroleum Company's bores at Moturoa, at tho Taranaki Oil and Freehold, and the Hadley Companies' bores on Carrington Road. The "Taranaki Herald," in an editorial tonight, says:—"lt must bo confessed that almost without exception the operations of tho past twelve months have not yielded any encouraging results. Directors and managers have done their best, and if they have failed to obtain payable oil it certainly has not been for want of trying. But what of the future? Will shareholders be prepared to find money to continue operations on lines hitherto followed, or will they feel more inclined to abandon efforts to develop the oil industry? There has been sufficient done in tho 'opinion of exports to prove the existence of a large oil field. Beyond that little more is known now than was known years ago. However, the evidence of years of tho existence of the field is strong enough to warrant further prospecting." The paper then goes on to urge that the drillers' diaries should bo compared, and thus valuable information obtained and collaborated as to tho geological strata in tho various parts of tho district. Hitherto the companies and drillers have adopted a policy of secrecy. The "Herald" continues:—" Our suggestion is that the Government be approached by the various companies with the view of having as complete a geological survey made as is possiblo with the data the companies can furnish, and that the companies should then unite in obtaining through tho Government tho services of the very best expert obtainable—not a mere driller, but such an authority as Sir Boverton Kedwood, if he were available, to visit the district and advise."