OIL AND GOLD.
(Press Assu.) AUCKLAND, July 14.! A tribute to the efficiency with which the search for oil was being conducted I in Now Zealand was paid by the MinMines (Mr Webb).'Under the! Potroleum Act, GO prospecting licenses covering 11,558 square miles were quickly taken up by strong financial companies, he 6aid, and at present 58 licenses covering 10,143 square miles were still j in existence. A staff of experts, at' present numbering 178, was engaged on scientific work in locating sites suit- I able for drilling, and over £1.000,000 had already been expended in | prospecting work. Two wells were at I present being drilled. The one at Mo-j rere was now down to 5512 ft. and that at Midhirst to 723 Sit, this well being j the deepest ever drilled in the Domin- I ion. i
Gold production last year, 185,8040 z, was tho highest for any year since 1920. said the Minister. It was an increase of 68490 z on the previous year. The Government's policy of assisting by subsidies and loans tlie prospecting and development ot minerals had been continued and £56,G95 was spent in this way in tho last financial year. Gold export duties totalled £205.292.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS19410715.2.14
Bibliographic details
Manawatu Standard, Volume LXI, Issue 191, 15 July 1941, Page 2
Word Count
201OIL AND GOLD. Manawatu Standard, Volume LXI, Issue 191, 15 July 1941, Page 2
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Standard. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in