OIL PROSPECTING
IN AUSTRALIA AND NEW ZEALAND.
MELBOURNE, Nov. 29. Mr W. A. Watt, formerly Speaker of the House of Representatives, and chairman of directors of Taranaki Oilfields, Ltd., New Zealand,' criticised tfio oil prospecting in Australia and New Zealand in his annual address to the shareholders of the Taranaki Oil Company. He said that it had to be remembered that commercial oil production in Australia and New Zealand was not yet an accomplished fact. The history of such prospecting as had been done was spasmodic. The effort was not infrequently surrounded by an atmosphere calculated to alienate the sympathy of the sound business elements of the community. In fact, most of the Australian efforts. had become perilously near being a by-word, and the holder of shares in an oil-prospecting venture ‘was still looked upon in some quarters as being, financially speaking, a little unbalanced. There had been no opportunity in Australia or New Zealand for the general public to form a correct view of the quest for, oil, but, contrary to the erroneous, but popular, view, the search for oil - was as legitimate and straightforward a business as any other.—Press Association.
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Bibliographic details
Manawatu Standard, Volume XLVII, Issue 306, 30 November 1927, Page 7
Word Count
192OIL PROSPECTING Manawatu Standard, Volume XLVII, Issue 306, 30 November 1927, Page 7
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