BLENHEIM OIL BORE
4000 GALLONS AN HOUR WELL AGAIN SEALED (Per Press Association.) NEW PLYMOUTH, last night. The Blenheim oil bore at Mcturoa was again uncapped to day for, the purpose of" taking a measurement of the flow. An official statement was subsequently issued by the secretary, Mr. S. E. Neilson, on behalf of the company, that the flow had proved to be at the rate of 4000 gallons an hoar. The" well was again sealed pending the completion of the installation of conduit pipes to take the oil from the mouth o' tho bore to the steel reservoirs. Though this work was to have been completed to-day, it is not now expected to be finished before about Thursday. Mr. Neilson states that several parcels of shares have been sold at 35s and 40s, but sellers are now asking 50s. It is stated that the crude oil flowing from the bore is saleable at Is 2d pc gallon. OIL SHARES BOOM . SYDNEY 'CHANGE ACTIVITY fElec. Tel. Copvright—United Press Assn. SYDNEY, Feb. 4. The reported activity of the oil bore at New Plymouth has resulted in greater attention on the Sydney Stock Exchange towards tha Dominion oil ventures. Inquiries for Taranakis. which, hitherto, have beer: friendless at 4s 9d, opened np on Saturday at 7s 6d. firmed to 8s fed and closed 'later at 7s 9d. Business to-dav commenced at 8s 3d, then jumped to 12s and closed at 10s Id. Over 2COO shares were traded.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 16869, 5 February 1929, Page 7
Word Count
245BLENHEIM OIL BORE Poverty Bay Herald, Volume LV, Issue 16869, 5 February 1929, Page 7
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