A PROMISING INVESTMENT.

Dominion, Volume 5, Issue 1411, 11 April 1912, Page 5

A PROMISING INVESTMENT.

4 THE TARANAKI N.Z. OIL WELLS, LIMITED. The Prospectus of the Taranaki N.Z. Oil Wells, Ltd., is issued to the public. The Board, headed by tho Earl ot Ranfurly. is exceptionally strong. Sir George Clifford, of Stonyhurst, Christchurch, and Sir John Lone Harrington, K.C.M.G.. of London, will join tho Directorate after allotment. The Oil Trust, Ltd., will act os secretaries and managers, and Mr. J. D. Henry, the eminent expert, whose report on Taranaki oil recently was so emphatic and enthusiastic, will continue (o be the technical adviser. The Taranaki N.Z. Oil Wells, Ltd., is formed to acquire the oil rights over some five thousand acres of oil lands at New Plymouth, so far held by the Taranaki Petroleum Company, Ltd. On tho property are three flowing wells yielding fifteen 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 seventeen" and a half per cent, of paraffin wax. Craigs, of Paisley, recognised authorities, state: "We are aware of no natural petroleum which has been found to be so rich in this valuable product." Taranaki oil h->s become a practical enterprise of a magnitude which cannot fail to impress the public. It .is significantly a development which means much to thosf who are in a position to acquire nn interest. New Zealand, as a Dominion, is naturally to a bigger extent still concerned in its siieces=. The establishment and expansion of this great industry should, in short, be regarded as an important national achievement!