TARANAKI OIL.
• Per Press .tssneiation.l NEW PLYMOUTH, last night. The following report was- issued by Taranaki Oil Fields, , Ltd., to-day: Tarata.—Drilled,to the 3640 feet in shale; casting to 3562 feet; two days fixing new drilling cable. Moluron. — Nice show of oil. but a small flow of water is maintained! Have decided to mud off gas; resume drilling and set a string of BA-inch casing in the first suitable formation encountered. During the past few days (states the Dominion) Taranaki Oil shares experienced a sharp advance, touching 27s 3d, having risen from 21s during the past eight days. In one of the bores a quantity of oil bus been obtained. The operations are being carried out on tlio most scientific system known at present, which is very different from the crude style of work fhat obtained with the earlier companies that operated in the same field unsuccessfully.
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Bibliographic details
Poverty Bay Herald, Volume LI, Issue 16871, 28 October 1925, Page 11
Word Count
146TARANAKI OIL. Poverty Bay Herald, Volume LI, Issue 16871, 28 October 1925, Page 11
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