TARANAKI OILFIELDS.

Hawera & Normanby Star, Volume XLVI, Issue XLVI, 16 March 1914, Page 2

TARANAKI OILFIELDS.

The following notes, brought up to Maicii y, 19i4, have been compiled by Mr b': r. (Jorkhili, chairman laranaKi Oil and Freehold Uo., Ltd., for the iniorniation of shareholders in that company: Taranaki (N.Z.) Oil Weils, Ltd. This concern, which was formed to acquire and develop the undertaking of the Taranaki Petroleum Company,^ Ltd. had very indifferent success in its flotation, the English investor —from whom so much was expected—only, taking up some £11,000 as against £173,----000 contributed in New Zealand. Acting upon expert advice the London Board went to considerable expense (some £38,000 to* £40,000) in erecting a complete-refinery capable of dealing with a large output of crude oil and converting it'- into, the many products of petroleum. Unfortunately this outlay has left them with altogether inadequate funds for prosecuting boring in various directions where the company holds rights, and the financial position has now become serious. Of the wells at Moturoa which they took over, No. 1 needs to be cleaned and re-cased, and Nos. 2 and 3 continue in payable oil. No 5, put down by the present com? pany, has proved to be the best yet drilled, and "No. 1 Rotary" has got into oil within the last few days and seems likely to be still more productive. Two other wells, put down in the Bell Block district, to over 3000 feet, have proved barren though affording important data for other operations. Nearly all accumulated crude oil has been treated and the products are highly spoken of and in great demand.

Our own venture continues shut down through exhaustion of funds. , Ours is the only well in Taranaki outside of the Moturoa area, which got anything more than indications, our flow being about 4 barrels per day. Inglewood Oil Boring Company, Ltd. This company put down an unproductive well in the Moa district, dismantled its plant, and is now about completing negotiations with some Taranaki men who propose to try another locality. Bonithon Company. The purchase of a rotary plant in America, and the engagement of highly paid drillers from the States have not met with the success deserved by this enterprising^ Wel-lington-Taranaki concern, and it is understood that a further essay is to be made nearer Moturoa.

Standard Oil Company of New Zealand. An Auckland undertaking whose methods saem to have been as ambitious as its name. It spent many thousands in putting down one well on Carrington road, about six miles inland of ours. Collapse and liquidation ensued, and the assets are said to have been acquired by the international Company, registered in Christchurch, with a capital of £400,000.

Taranaki Oil Lands Acquisition and Development Company,' Ltd. Floated in Marlborough, and known locally as "The Blenheim." This company importv ed a very fine up-to-date British plant, and has the services of an Austrian superintendent of considerable repute, who is assisted by skilled drillers and workmen from Galicia. Oil was struck about the New Year, and a yield of up to 60 barrels per day was obtained, but the intrusion of Avater was recently officially stated to have brought disaster. Deeper drilling is now going on, but it is known that considerable oil is being won and stored, and it would appear that the alleged ruination is more figurative than real.

Phoenix Company. This is a Christchurch combination, operating at Mbturoa, under similar - conditions as to plant and management to" the last mentioned. The boring is approaching the oil formation and good results are looked for.

United uampany.—Under this designation the two last mentioned companies and a third one in Christchurch are putting down, on joint account, a well on the north bank of the Waitara river at Tikorangi. the; plant and control being identical with those just referred to. This bore is down to 600 feet. Huiroa- Bore. Another southern combination is drilling in the Huiroa district, east of Stratford, with English plant and Austrian management and labor.

Several other companies, both local and of outside origin, have been formed or are projected, but so far none of them has actually commenced work. "Water in Wells. About a month ago the managing director of the Blenheim company organised a, deputation to the Minister of Mines on the subject of the flooding of their well by water, which he alleged came from the bores of the Taranaki Oil "Wells, Ltd. | This deputation was not a fairly representative one, as non© of the older companies were informed of it, whilst several of the gentlemen present are unknown in connection with this field. As the result of their statements (which were telegraphed all over the Dominion) the Government Geologist, Mr P. G. Morgan, came to New Plymouth and made as complete an investigation as circumstances and time permitted. He has since reported to the Minister that the alleged flooding has not been proved, but he recommends that, as is usual in all oilfields, regulations be framed to provide -against it. ; The danger of external water finding its way into the petroleum measures has long been understood by people here associated with oil prospecting. Many years ago the eminent authors of The Technology of Petroleum, Messrs Neuburecer and Noalhat, referred to this subject in the following terms (English translation, nublished in 1901) "Boring: at the Sugar Loaves is rendered more difficult by the nresence. in contact with the petroliferous strata, of several water-bearing beds. . . ." The effect of the circulation of the statements of the deputation was to create a small panic among shareholders, which was wholly unwarranted and much to be deplored, but has now'been fortunately allayed.