SEARCH FOR OIL

New Zealand Herald, Volume LXXI, Issue 21758, 24 March 1934, Page 11

SEARCH FOR OIL

RENEWED INTEREST . MOVEMENT IN BRITAIN t BILL BEFORE PARLIAMENT ' REPORTED DISCOVERIES'* By Telegraph—Press Association—Copyright (Received March 23, 9.45 p.m.) LONDON", March 23 The Government is considering measures to stimulate the search for oil in Britain. Since th 6 programme of drilling financed by the State ended 12 years ago, no large-scale effort of the kind has been made. The President of the Board of Trade, Mr. Walter Runciman, in the' House of Commons to-day, stated that the Government recently had received indications of renewed interest in the subject and therefore had decided to review the situation. As a result, the Government had prepared legislation with the principal object of removing some of the main difficulties which were said to have stood in the way of a search on an extensive scale, and to secure the orderly development of any oil discovered. Licences to be Obtained Mr: Runciman said the bill provides that the ownership of all petroleum which may exist in Britain, but which is at present unknown, shall be vested in the State. The owners „of the surface will be recompensed for disturbances to property, and loss of amenity will be safeguarded. Persons who wish to search and bore for oil must obtain a licence, payment beipg made to the Exchequer on any oil produced. Those who secure a licence will make their own arrangements with the owners of the land for the necessary facilities, but where suck facilities cannot be obtained by agreement, provision will be made for securing a grant, of facilities considered by the courts to be necessary, on terms which the court* will determine. , The measure referred to was int;ro< duced into the House, of Lords this evening and read a first time. Factors Behind State Action The Daily Express sayß the secret of the Government's haste with tie Oil Bill is that Government experts a month ago struck oil hear Castleton, 'Derbyshire. The pressure waaf strong enough to astonish experts and v galvanise the Government into - action* The discovery, says the Express, lies in the track of an oil belt which some scientists believe stretches from south* west of the Humber across the Peni nine chain to the shoreß of Bay. Lead miners in Derbyshire fop. years have talked about an oil lakei beneath old workings.

The Daily Telegraph says the' ernment's action is due- to Americsini syndicates ; inquiring as to the possfc# bilities in the Midlands. Ministers wislr to prevent an oil rush similar to thossf frequently seen in the United An Italian mining engineer stated injj November that there was enough oil shale near Weymouth to supply thef whole country with oil and petrol in* definitely. Oil was produced war at Hardstoft, Derbyshire, where the well still averages six barrels ofi high-grade oil a day. Many exports believe that areas us Kent and Sussef offer possibilities.