ECUADOR OIL CONCESSIONS.

Rangitikei Advocate and Manawatu Argus, Volume XXXVII, Issue 10742, 5 September 1913, Page 5

ECUADOR OIL CONCESSIONS.

United Press Association —By Electric Telegraph—Copyright. London, September 4 The text of the concession shows that Lord Murray secured the right to utilise any public petroleum land discovered in Ecuador in the next forty years The concession is entirely gratuitous except a promise to expend a hundred thousand pounds sterling upon the discovery and exploitation of oil fields within a decade Lord Murray also secured the right to expropriate private lends upon terms stipulated by an engineer provided by the Government The Elegante, a Guayaquil newspaper, describes 'it as a monstrous enncession