TARANAKI PETROLEUM COMPANY.
THE TERMS OF PURCHASE. NEW PLYMOUTH, May 27. The New Plymouth directors of the Taranaki Petroleum Company received a cablegram this morning from Mr J. D. Henry stating that a deposit of £2OCO -has been paid to the Bank of New Zealand in London. The following are the minimum terms of the purchase:—Price, £IOO,OOO, half cash and half fully paid-up shares in an approved company; a further sum of £IO,OOO, payable if oil is struck.in No. 5 bore before completion; all oil won and money due, and to become due, to be the property of the present company; the nominal capital of the new company n'>t to exceed £400,000, with a subscribed capital of not less than £IO,OOO. The directors do not intend to allot any more preference shares.
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Otago Witness, Issue 2985, 31 May 1911, Page 33
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132TARANAKI PETROLEUM COMPANY. Otago Witness, Issue 2985, 31 May 1911, Page 33
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