SALE OF OIL PLANT
MOTUROA CONCERN OPERATED 16 YEARS (P.A.) NEW PLYMOUTH, Jan. 30. An offer to purchase the rights of the oil wells, plant, equipment and stores of Moturoa Oil Fields Limited has been accepted by the board of directors, states a circular issued to shareholders by the board. When the sale is completed there should be enough funds to return to preference shareholders a substantial amount of their share capital, plus accrued dividends. There will, however, not be a return on ordinary shares. During the 16 years of its operation, about 2,500,000 gallons of oil have been taken from three of the four wells belonging to the company at New Plymouth.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22242, 30 January 1947, Page 4
Word Count
113SALE OF OIL PLANT Gisborne Herald, Volume LXXIV, Issue 22242, 30 January 1947, Page 4
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