IN QUEST OF OIL.
BORING IN TARANAKI AND POVERTY BAY. Amongst the passengers who arrived at Wellington from Australia by the s.s. Maunganui on Tuesday were- the Right Hem. W. A. Watt, P.C., and Mr. E. H. Shackell, of the Taranaki Oilfields, Ltd., a company formed in Australia for the purpose of boring for oil in New Zealand. '■ Mr. Watt, who is an ex-Premier of Victoria, and a .one-time . acting-Prirne Minister of the Commonwealth, stated in Wellington that though the company nad been formed in Australia there were now as many New Zealand shareholders as Australian. The company had bores down at Moturoa and Tarata, near New Plymouth, and were putting down another bore north of Gisborne. Tt would be a good thing for the Dominion, he said, if the company had the fortune to strike oil in'payable quantities. Oil was much more profitable than gold to produce. ns there was not the heavy expenditure which the Ini for entailed. | Mr. Rhackell is secretary of the company.
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Bibliographic details
Poverty Bay Herald, Volume LII, Issue 17008, 15 April 1926, Page 7
Word Count
167IN QUEST OF OIL. Poverty Bay Herald, Volume LII, Issue 17008, 15 April 1926, Page 7
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