A PROMISING INVESTMENT.

Evening Post, Volume LXXXIII, Issue 86, 11 April 1912, Page 8

A PROMISING INVESTMENT.

THE TARANAKI N.Z. OIL WELLS LIMITED. THE Prospectus of the Taranaki N.Z. Oil Wells, Ltd., is issued to Jlho public. The board, headed by the Earl of Ranftirly. is. exceptionally strong. Sir George Clifford, of Stonyhurst, Christchurch, and Sir John Lane Harrington, K.C.M.LL, of London, will join tlw directorate aftev allotment. l'lie- Oil Trust, Ltd., will act afi secretariee and manager*, and Mr. J. D. Hunry, tho eminent expert, whose report on Taranaki oil recently was so emphatic and ■enthusiastic, will continue to be the technical advisor. The Taranaki N.Z. Oil Well-s Ltd., is formed to acquire the oil rights over fiomo 6000 acres of oil lands at- New Plymouth, so far held by tho Taranaki Petroleum Company, Ltd. On' the pro■perty are three flowing wells yielding 15.000 gallons of oil per week. Over 300,000 gallons are already stored pending tho erection of a refinery. The quality of oil in the three wells now flowing i 6 remarkably high, containing, over 17it per cent, of paraffin ,wax. Craigs, of Paisley, recognised authori^ ties, state : "Wo are aware of no natural petroleum which has been found to be so rich in this valuable product." Taranaki oil has become a. practical enterprise of a. magnitude which cannot' fail to imprcE6 the public. It is .significantly a development which means much to thwe- who aro in a position to acquire on interest. .New Zealand, an a. Dominion, L; natnrally to a )jigj?w cxteul still concerned in iti' miclws. Tlh> esLublishmenfc and expansion of this great industry should, in s-hort, bo regarded ius an impoi'laiit national achievement 1

Messrs. Townscnd and Paul, Ltd., will sell m' auction on Tuesday next, lGth in<t., felurc> .mil proviu'onh, balvugcd from the ri'uuit tire in tho Union Steam Ship Co.V. bLorcs- The sale will tuuinicnce at 11 o'cipcls.