PETROLIFEROUS LANDS

Southland Times, Issue 19720, 28 November 1925, Page 8

PETROLIFEROUS LANDS

SURVEYS IN NORTH ISLAND A NEW ZEALAND VENTURE LARGE SUMS EXPENDED. (Special to the Times.) WELLINGTON, November 27. During the past 18 months a strong financial company has been making extensive surveys of petroliferous lands in several parts of the North Island, more particularly in the Gisborne and Taranaki districts. Large sums have been spent ip engaging the services of eminent geologists from the United States of America from where the crews used in drilling operations also hail. It is understood on very good authority that as a result of overtures that have been made lately, the company has decided to engage a number of New Zealanders, some of whom have distinguished themselves at Otago, to assist in making details of the geological surveys. New Zealanders will also be engaged as drilling crews. Most of the capital for the big undertaking has been found in Australia, and the whole of the capital involved has been found by British interests. It is said that the observations of the efforts that have already beer* made and are still being continued by the syndicate show that those engaged in the drilling venture thoroughly understood their business.