TARANAKI OILFIELDS
MELBOURNE, Oct. 28. (Received Oct. 27, at 0.45 a.m.) The managing director of Taranaki Oilfields, Sir Colin Fraser, at the annual meeting, spoke of a combination of interests which the directors hoped to get together in order to undertake the task of thoroughly testing the structural area when the proposed new oil legislation to govern the industry was enacted. He said the combination would command adequate capital, world-wide experience, and the technical resources necessary to undertake deep drilling tests.. If the projected test wells reached their objectives shareholders would then know whether their hopes would be realised and really commercial oil fields were proved to exist in New Zealand. If they achieved success it would be a development of major national importance, not only to the Dominion but particularly from the defence standpoint to Australia and the Empire.
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Otago Daily Times, Issue 23333, 27 October 1937, Page 10
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140TARANAKI OILFIELDS Otago Daily Times, Issue 23333, 27 October 1937, Page 10
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