OIL FOUND
IN NEW GUINEA. EXCELLENT PROSPECTS. BY CABLE—PRESS ASSOCIATION—COP If BIGHT Received Juy 5, 9.5 a.m. SYDNEY, July 5. Several members of the New Guinea oil prospecting party have returned to make arrangements for continuing the work. They confirm the discovery of oil previously cabled. The , bore* is situated 54 miles from Aitaipi, on the northern coast in former German New Guinea. The bore was at a denth of 70 feet when it was capped in order to secure more casing. It was yielding 40 gallons daily. Since their departure the party received a wireless from the manager stating that a second boring site has been located, and expressing the opinion that an oilfield of commercial importance had been discovered. One of the returned prosneetors, an experienced, oilman, says that he’ had seen nothing in the American oilfields equalling the possibilities of the new area. It was unquestionable that the oil struck is backed by a tremendous volume at a greater depth.—Aus.-N.Z. Cable Assn.
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Bibliographic details
Hawera Star, Volume XLVIII, 5 July 1924, Page 5
Word Count
165OIL FOUND Hawera Star, Volume XLVIII, 5 July 1924, Page 5
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