PROSPECTING FOR OIL.
POPULAR MISCONCEPTIONS. A STRAIGHTFORWARD BUSINESS. (Recei%-ed November 29, 10.35 p.m.) A. and N.Z. MELBOURNE, Nov. 29. Addressing the annual meeting of shareholders of Taranaki Oilfields, Limited, New Zealand, tho chairman of directors, Mr. W. A. Watt, criticised oil prospecting in Australia and New Zealand. He said it had to be remember r; 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. Tho effort was not infrequently surrounded by an atmosphero which was 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 n byword, 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 th 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 legitimato and as straightforward a business as any other.
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New Zealand Herald, Volume LXIV, Issue 19807, 30 November 1927, Page 11
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189PROSPECTING FOR OIL. New Zealand Herald, Volume LXIV, Issue 19807, 30 November 1927, Page 11
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