ANOTHER OIL VENTURE.
CAPITAL OF £IOOO,OOO, OPERATIONS NEAR HARBOUR. Proposals for a further oil boring venture at New Plymouth are now taking concrete form, according to advice received by cable from Sydney by Mr E. R. C. Gil'mour, says the “Taranaki Herald.” The cable states that a. Sydney group, whose representative was here recently, propose the immediate registration of a company with a capital of £IOO,OOO. The object of the proposed’ company is to undertake, oil boring operations on a -property of 30 acres on- the lupincovered hills at the rear of the Breakwater Hotel fronting Ngamotu Road. This is in the vjcinity of the old No. 3 bore, from which a quantity of -oil was obtained and which is stated still to be flowing to an extent involving pollution of the adjacent lagoon, which discharges on to the beach. Also not far away, on the beach approximately in front of the Breakwater Hotel, is the site of the bore sunk by Taranaki Oil Fields, Ltd., a year or two ago, and closed after considerable emissions of gas had occurred.
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Hawera Star, Volume XLVIII, 7 March 1929, Page 10
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180ANOTHER OIL VENTURE. Hawera Star, Volume XLVIII, 7 March 1929, Page 10
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