OIL PRODUCTION
LAKES ENTRANCE, VICTORIA
MELBOURNE, Nov. 24. After having observed the Lakes Entrance oilfield for many months, Mr. I. L. Lightnor, petroleum engineer to the South Australian Oil Corporation, Limited, has formed ihe 1 opinion that the field can be made commercially profitable. He estimates that the fulfilment of his plan would j give a total annual yield of Hi,800,000 ' gallons of crude oil, worth £1,700,000. ,]n his report to the directors, Mr. Lightner states that the corporation holds about 8000 acres, and there is no reason why one well should not he drilled to every four acres. This would mean that eventually the field would carry 2000 bores.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17950, 30 November 1932, Page 10
Word Count
110OIL PRODUCTION Poverty Bay Herald, Volume LIX, Issue 17950, 30 November 1932, Page 10
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