PETROLEUM NEWS.

Stratford Evening Post, Volume XXXI, Issue 49, 12 October 1911, Page 5

PETROLEUM NEWS.

TARANAKI COMPANY. The deposit of £2OOO on account of tho purchase of the company’s properties has been received by the Taranaki Petroleum Company, having been remitted by Mr Carter from London. Nos. 2 and 3 wells arc flowing as asual. The manager, Mr Keith, is personally conducting operations at No. 5 loi'c, with a view to securing payable ail without delay.—“ News.” INGLEWOOD OILFIELDS COMPANY. ' The “fixing” agreement of the Inglewood (N.Z.) Oilfields Company and Ur T .C. Nicholls, whereby the hit:or’s oil prospecting rights are transferred to the former, has been signed. iVe may therefore feel satisfied, says :ho Inglewood “Record,” that active prospecting will soon bo the order ol iiho day .and oil life really begin. No me dare venture to prophecy the future oi our district fields; hut the results of the surface scratching in the one or two spots disturbed about here have, been sufficient to bring underwritten capital in very largo •nuns to tho credit of the company, uul its expenditure will soon lie an astablished fact. Lot ns hope the

capital may quickly find response pulses in the oil wells below, when a new era will soon be vyoii us.