AN IMPORTANT DEAL
TARANAKI OIL ENTERPRISE PURCHASED BY LONDON COMPANY. CAPITAL £400.000. PRESS ASSOCIATION. NEW PLYMOUTH, May 27. The directors of tho Taranaki Petroleum Company received a cable this morning from Mr J. D. Henry stating that a deposit of £2OOO has been paid to the Bank of New Zealand in London. The following aro the minimum terras of purchase;—Price, £IOO,OO0 — half in cash and. half in fully paid-up shares in an approved company; a further sum of £IO,OOO to he payable if oil is struck in No. o bore before completion; all oil won and money duo, or to become duo, io bo tbo property of tbo present company. Tho . nominal capital of the new company is not to exceed. £.loo,oooj' with a subscribed capital of not less than £IOO,OOO. The directors do not intend to allot any moro preference shares.
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Bibliographic details
New Zealand Times, Volume XXXIII, Issue 7452, 29 May 1911, Page 1
Word Count
142AN IMPORTANT DEAL New Zealand Times, Volume XXXIII, Issue 7452, 29 May 1911, Page 1
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