TARANAKI PETROLEUM.

Otago Witness, Issue 2849, 21 October 1908, Page 33

TARANAKI PETROLEUM.

HOPEFUL INDICATIONS., NEW PLYMOUTH, October 17. The manager of the Taranaki Petroleum Company reported to the directors last night as follows : — " This afternoon gas at No. "2 bore was coming very strongly, and! the well was dry. The cuttings thrown up by the gas contain a quantity of oil, and) indications continue improving. gas continues to flow at from 80,000 ft to 100,000 ft per day. Buyers of shares were at 6s 6d this morning." At 10 this morning the manager reported) to the directors that , there was 500 ft of oil in No. 2 well, ■mostly pure, but a email portion was mixed with debris from a mad vein struck recently. Tanks are being moved over to the well to hold) the oil, which, .Mr Simpson cays, .may. settle down to two barrels a day or perhaps develop to 50 barrels or more. The directors advise shareholders not to be led away, as it is impossible yet to say. what the prospects may be, but they can rest assured that they will be promptly, informed. * October 19. Indications a.t No. 2 bore of the Taranaki Petroleum Company are exciting considerable interact locally, and tlis bore is showiing splendid indications. To-day 10 barrels of oil were collected from tine-, Matul^aJ How, but the prefigure was -still' too ertromsj to permit of a steady rurr.r, There is absolutely not a vestige of water inside the casing, and thus "the greatest; 1 obstacle to success has been overcome. The oil, which was up to the 9001 ft leyeT' in the pipe on Saturday, is -this evemngr still -rising. Alt 2000 ft it is within. 200 ft of the top of the casing, over which irtJ periodically spouts as the gas pressure is eased. From present indications oil should be flowing steadily to-morrow,

For woolpreawce, windmills, pumps, anci pumping plants, consult Ninrmo and Blair- " Are tho legal representatives of a deceased beneficiary who has received a lump payment under the Workers' Compensation for Accidents Act entitled to receive a refund of the deceased's contributions to tho Railway- Superannuation Fund?' 1 This) question was submitted by the Railway; Superannuation Board for legal opinion; and the answer received was in the affirma* tive. «