PROSPECTING FOR OIL

Otago Witness, Issue 3523, 20 September 1921, Page 20

PROSPECTING FOR OIL

CANTERBURY < O.MPAXY’S ILLFORTUNE. CHRISTCHURCH, September 15. After seven years' prospecting for oil efc Chertsey. ii seems likely that the Canterbury Petroleum Prospecting Company will be forced to abandon its boring operations. dhe final stroke of ill-fortune for the company occurred last week in the form of a quicksand. which forced its way up nearly 100 ft from the bottom of the bore, it has since settled somewhat, but the obstruction is considered beyond the power of tile companv to remove. An extraordinary meeting of shareholders has been called, when tile expediency of passing a motion that tie- company cannot) by reason of its liabilities. continue its business and that it be wound up voluntarily will be considered. The history of the oil bore at Chertsey has been one of repeated misfortune. The company has only recently been aide to resume boring operations after years of delay caused by the dropping of a sard pump m the bore. i his obstacle was overcome only bv patient work, and now :.iie quicksand has created a problem which the company cannot solve. Other accidents and high expenses pieyioudv impeded prograss, but, notwithstanding this, the company’s bore was put down to a depth of 2.150 ft. In the course of the operations there were many indication.* of the presence of oil and