PROSPECTS OF OIL
REPORT FROM NEW GUINEA
“TREMENDOUS VOLUME.”-
Bv Telegraph—Press Assn. —Copyright
SYDNEY July 6. Several members of the New Guinea oil prospecting party have returned to make arrangements for continuing vthe work. They confirm the reported discovery of. oil. The hare is situated 54 miles from Aitaipi, on the northern coast of what was German New Guinea. The bore is at a depth of 70 feet, and when it was capped in order to eeoure more casing, it was yielding 40 gallons a day. Since the party left it has received a wireless message from the manager stating that a second boring site had been located, and expressing the opinion that an oilfield of commercial importance had been discovered. One of the party, an experienced oil man, says ihe has seen nothing on the American oilfields equalling the possibilities of the new area.. It is unquestionable that the oil struck is blacked by tremendous volume at a greater depth.
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Bibliographic details
New Zealand Times, Volume LI, Issue 11874, 7 July 1924, Page 4
Word Count
161PROSPECTS OF OIL New Zealand Times, Volume LI, Issue 11874, 7 July 1924, Page 4
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