AN IMPORTANT ENTERPRISE.

Nelson Evening Mail, Volume XLVII, Issue XLVII, 10 April 1912, Page 2

AN IMPORTANT ENTERPRISE.

THE TARANAKI N.Z. OIL WELLS LIMITED. The nrospectus of the Taranaki N.Z. Oil Wells Ltd. will be issued to the pubV'o under veiyj favourable auspices. The boaxd is an'exceptionally strong one, consisting-, a- it does, of the Earl of Ranfurly, lev Alexander! "C.M.G. ; Mr Joseph Brailsford ; and Mr Andrew Horner. K.C., M.P. Two further Directors will join the Board after allotment : namely, Sir George Clifford, Bart., of "Stonyhuret " Christchurch, N.Z. : and Sir John Lane Harrington. K.C.M.G., the latter being Chairman of The Oil Trust, Limited. It should be mentioned that the 0:1 Trust Ltd., will act as secretaries, and that consequently the management will be in good and experienced hands. Investigation and reports have been made bv those competent experts. Mr J. D. Henry, of London, and D.r J. M. Bell until recently head of Geological Survey in New Zealand. The former will, indeed, continue to act as technical adviser. The Taranaki N.Z. Oil Wells Company Ltd., has been formed to acquire the oil rights over some 4800 acres of property nt New Plvmouth. from the Taranaki Petroleum Co.. Ltd.. and on which there are already three flowing wells yielding nbont 15.0C0 ."alion-- of'oil per" week, i here are. too. in the Company's tanks; now stored, some 310.000 gallons of oil awaitiuir the refinery which it i.i the intention of the directors to erect. It misrht be remarked that the oil thai is flowing from the three wells already active, contains over per cent of pa raffin wax. Messrs A. F. Crai- a»d Co., of Paisley, Scotland, who analysed some of the oil. state : "We are aware of no natural petroleum which has been found to be so rich in thi s valuable product." Dr J. M. Bell, again, in his review, .says : "The geological structure of the Taranaki District. New Zealand, together with the production which has at. tended initial developmental work, indicates the existence of an Tmportant oilfield." Then, Mr J. D. Henry, conoludes his report with these words : "The out ire proposition can be recommended on the ground that it i« complete in everv detail, embracing a* it does the production, refining, and marketing of petroleum under the most favourable economic and trading conditions in one of the most progressive colonies of the Emnire." Having regard to all things—to the undoubted value of the property, to the approved richness of the oil. to the personnel of the directors, and finally to The experienced and competent management —an investment in the shares of tho Taranaki N.Z. Oil W«lls. Limited, would seem to be decidcdlv attractive. It should certainly command the serious attention of the public.