OIL PROSPECTING

Nelson Evening Mail, Volume LXXIII, 13 June 1939, Page 2

OIL PROSPECTING

MINISTER REVIEWS POSITION FURTHER DRILLING TO BE CARRIED OUT I GOLD DREDGING ACTIVITY I (United Presß Association] AUCKLAND, 12th June. “I am convinced that if oil exists in payable quantities in New Zealand the men and plant employed will find it,” said the Minister of Mines, the Hon. P C. Webb, to-night. Mr Webb reviewed the progress of drilling for oil and dredginj for gold in the Dominion. “There have been 52 licenses issued, covering 9236 square miles, for prospecting for petroleum,” the Minister said. Approximately 50 geologists and geophysicists w’ere already operating on various fields. One company alone had spent about £250,000 before getting one hole down, and had budgeted for a further £300,000 to continue prospecting and drilling. Others w r ere busily engaged in doing geophysical and survey work. “It is expected that further drilling will soon begin in the New Plymouth area,” Mr Webb continued. “It has been very delightful to me as Minister of Mines to be associated with the type of man that has come from overseas. There has not been a single hitch since the operations began.” Concerning gold dredging, the Minister said that more than 878 acres of dredging land had been taken up, the land being worth £1 5s an acre, or £II,OOO in all for farming. From the gold content point of view it was estimated to contain value of £9,433,689, or £1074 an acre. Since the Labour Government came into office a tag has been placed on each license stipulating that where soil could not be replaced trees had to be planted at th dredging company’s expense, he added.