POVERTY BAY PETROLEUM COMPANY.

Otago Daily Times, Issue 4029, 16 January 1875, Page 6 (Supplement)

POVERTY BAY PETROLEUM COMPANY.

(Standard, December 2Gth.)

From a party of gentlemen who visited the Company's works on Saturday last we gather the following information. The whole of the works are now completed, and, massive as they arc, they have been finished in such a manner as reflects great credit on the manager, Mr W. W. "Parsons, who superintended the woi&, and the builders who executed it. The derriok is 04ft in height, and appears at a distance like a lighthouse ; the walking beam is 27ft long, and weighs about a ton and a half ; the sampson post, which supports it, is of timber, 20in. square at the'butt, and lift, long, let into a balk of timber of the same width, 30ft. long, the bull wheel, Gft. diameter, has the rope, bin., ready coiled f.n it. The ' manager will commence bqring immediately on reaching the bed-rock ; the shaft which is being put down for that purpose wag, an Saturday last, 45ft. in depth, avul as the foundation \s getting more solid eye-vy foot; '{here is grpat probability of the rock being reached this week. A large quantity of oil is now welling up from the bottom, of tl}e shaft, an.d in the interval between the men loaving .york on Saturday night and ten o'clock on Sunday morning about 3ft. of oil had accumulated, the shaft; being oft. Gin. by 3ft., it may therefore be safely estimated that petroleum to the amount of eight or ten barrels per* day is now bobeing obtdned, and this, njovoovep, without obtaining a n.ow ; it. is. simply fqr-eing Us, way upwards through stiff blue clay, showing the enormous natural forces at work below which could cause such an exudation. The presence of payaluQ ail may be said to be prapticaUy solved, as oil that will exude naturally to the extent of eight barrels per day, will, whtn the vein is reached a;id pumping power applied, produce 20 time 3 that quantity, although the probabilities are, from the immense amount of gas which comes up with the oil, that it will be a " flowing well," and pumping will not be required. We have \\:ul & sample of crude ojl fqrwiyrdeii to us by Mr Spuubij, which all interested can inspect at qur office. These facts, backed up as they are by the sanguine expectations of the manager, have created great confidence }n tile, springs, and will doubtless haye the effect of putting the sharoj at a further premium.