OIL IN NEW GUINEA
PROSPECTORS RETURN. AN OPTIMISTIC REPORT. (By Telegraph—Press Assn. —Copyright.) * (Australian and N.Z. Cable Association.) SYDNEY, July 5. Several members of the New Guinea oil prospecting party have returned to make arrangements for continuing their work. They confirm the discovery of oil previously mentioned. The bore is situated fifty-four miles from Aitaipa, on the northern coast of what was formerly German New Guinea. The bore reached a depth of 70ft, when it was capped in order to secure more casing. It was yielding forty gallons daily. Since their departure, the party have received a wireless from the manager, stating that a second boring site had been located, and expressing the opinion that an oilfield of commercial importance had been . discovered. One of the returned prospectors—an experienced oilman —says that he had seen nothing in the American oilfields to equal the possibilities of the new area. He said that it was unquestionable that the oil which had been struck was backed by a tremendous volume at greater depth.
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Bibliographic details
Southland Times, Issue 19290, 8 July 1924, Page 5
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170OIL IN NEW GUINEA Southland Times, Issue 19290, 8 July 1924, Page 5
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