SEARCH FOR OIL

Evening Post, Volume CIX, Issue 108, 9 May 1930, Page 15

SEARCH FOR OIL

THE TARANAKI FIELD

ANOTHER BORE COMMENCED

(By Telegraph—Press Association.) NEW PLYMOUTH, Sth May,

After research extending over three years boring for oil has been commenced by Coal Oil (N.Z.), Ltd., at Omata, near the port of New Plymouth. t)£ many such ventures this one has created more than usual interest because a party of German scientists have been operating in the district for three years under the Elbof geophysical system. Ihej selected the site where the boring has be The COventure e wa S officially launched today by the Minister o£ Mines (the Hon. \V A. Veitch), in the presence o£ 2000 people, including Senator Milieu, ot Australia, chairman of the company. ■ The Minister traced the history ot oilboring iv Taranaki, stating that up to \m li total of 1,270,272 gallons ol oil Ind been recovered, but companies, nail tailed .usually through .lack of hmum and scientific equipment. lie stressed the importance of striking oil in a Untisn country. The Empire at present was producing only 3 per cent of its regmremento New Zealand annually imported about £3 000 000 worth of oil and oil products. Senator Millen expressed confidence m the venture, and said that the company came to New Zealand because it believed there was a greater likelihood of striking 01Tlie rMinister also visited the Moturoa Oilfields, Ltd., well, and expressed pleasure at the progress made. .-.