OIL IN NEW ZEALAND.

Otago Witness, Issue 3763, 27 April 1926, Page 58

OIL IN NEW ZEALAND.

POVERTY BAY FIELDS. INSPECTION OF AREAS. GISBORNE, April 20. The Chairman of the Taranaki Oil Fields (Ltd.), the Hon. W. A. Watt. M.P., of Melbourne, accompanied by the secretary of the company, Mr E. H. Shack well, arrived in Gisborne from Australia during the week-end with the object of inspecting various areas held by the company in Poverty Bay. Accompanied by the general manager and the assistant general manager on Monday last, they journeyed to Ruatorea where the first bore is to be sunk.

When interviewed by a representative of the Gisborne Times, Mr Watt expressed gratification at the excellent progress registered to date. The stall and local transport services were to be congratulated oil the celerity with which a considerable tonnage of plant and machinery was landed on the site. The drilling superintendent expected to start to drill in about three weeks. Mr Watt said that discussions with the geological staff employed on the various areas convinced him that the problems confronting the company were difficult and complex but not incapable of solution. There was, however, unanimity amongst the geologists that the prospects of obtaining oil on the East Coast were most promising. “This district,” said Mr Watt, “is steep and broken country and presents difficulties of access to the examined structures. In many cases the company, therefore, will be obliged to spend substantial sums in making reads. It might he worth while for the New Zealand Government to con sider this matter because it is plain the less the company has to spend on access reads the more it will have for boring for oil. ’ In closing, Mr Watt said he would like to stress the importance, to New Zealand in particular and to the Empire generally, in a proper studv and exploration of the oil problem of this territory. He hoped that the authorities and the people would try to realise what it would mean if high grade oil in commercial quantities were obtained. OIL BOR NIG. NEW PLYMOUTH, April 20. The Taranaki Oilfields report that the Tarata bore was drilled to 4775 ft in sand and shale. The Motorua well is being filled, and the casing withdrawn. As to East Coast No. 1 construction of the rig is proceeding satisfactorily.