SEARCH FOR OIL
COMPANY CHAIRMAN OPTIMISTIC OPERATIONS IN NEW ZEALAND l(Jailed Press Association 1 WELLINGTON, This Day. “I have never wavered in the belief that important oil fields await discovery in New Zealand,” said Sir Colin Fraser, of Victoria, chairman of directors of the New Zealand Petroleum Company and Taranaki Oilfields, who arrived by the Wanganella. He expressed himself very well satisfied with the organisation set up by the New Zealand Petroleum Company and the systematic effort being made to find and produce oil in the Dominion. The work was being followed with keen interest in Australia as well as New Zealand he said. The company would shortly have expended on purchasing and installing drilling and other plant and equipment, establishing business and technical organisations, and also drilling at Totangi and carrying on geological, geophysical and other work, the £250,000 provided in the first place by shareholders comprising leading American oil companies, and for which those com. panies received deferred shares which did not participate in the profits made by the company.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NEM19390509.2.44
Bibliographic details
Nelson Evening Mail, Volume LXXIII, 9 May 1939, Page 5
Word Count
172SEARCH FOR OIL Nelson Evening Mail, Volume LXXIII, 9 May 1939, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Nelson Evening Mail. 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