OIL GUSHER DISCOVERY.

Grey River Argus, 16 January 1928, Page 5

OIL GUSHER DISCOVERY.

FRENCH CLAIMS AND PREDICTIONS. (Received, January 15, at 8 p.m.) PARIS, January 14. M. Briaud, vViieu announcing the oil agreement, was addressing the Foreign Affairs’ Committee of the Chamber when he said that an oil gusher was recently struck near the Village of Baba Guergou, in Mosul. It had produced 3600 metric tons of petrol in three days, and experts' estimate that it is capable if producing 3,600,000‘tons per year. As France is entitled to 23.75 per cent, of all Mosul oil, it is hoped that thijs single well will furnish, almost half the annual French importations, amounting to 2.000,000 tons per year. M. Briaud added, that in addition to this well, about a hundred others were drilled in the Mosul Vilayet and if this was good, the producers, the French Government, or their agents might even become oil exports. FRENCH SHARE IN IRAQ OIL. FIELDS. PARIS. January 14. M. Briaud announced shortly the signing of a Franeo-American-British agreement, giving France a direct share in the working of the Iraq Oil Fields on an equal footing with the British and American interests.