Page 6 Advertisements Column 1

Stratford Evening Post, Volume XXXII, Issue 92, 18 April 1912, Page 6

The Subscription List is now open. It will definitely close on or before Wednesday, 24-th April, 11)12. ABRIDGED PROSPECTUS. ’This Prospectus is being issued in Great Britain, New Zealand and Australia. A COPY OF THIS PROSPECTUS HAS BEEN FILED WITH THE REGISTRAR OF JOINT STOCK COM' PAN lES. / SHEW , xZEALAHO/ HI LIMITED. mm !ri I* l| i I I w rm Is Incorporated undei tho Companies (Consolidation) Act, 1 GOB, of Great Britain. CAPITAL - - - £ 400,000. DIVIDED INTO 400,000 SHARES OF £1 EACH. SUBSCRIPTIONS ARE NOW INVITED FOR AN ISSUE OF 275,000 SHARES OF £1 EACH, AT PAR, PAYABLE AS TO 2s per Share upon Application. 5s per Share upon Allotment. And the Balance, as and when r;qu’red in Galls not exceeding 5s per Share, at intervals of ant h’ss 5 mnntliQ that, tin 1 e months. OF THE ABOVE ISSUE SUBSCRIPTIONS FOR 150.000 SHARES ARE GUARANTEED.. After payment of the casli portion of tho purchase consideration the present issun will if fully subscribed, provide a sum of about £200,080 for Working Capital, Payment of Preliminary Expenses and the general purposes of tho Company. 41,090 Snares are nsld in reserve 'for issue to provide Ruthor Working Capita! if and when required. „ LONOOH BOARD QF BSRSCTOfIS : THE EARL OF ftANFURLY, G.C.SVi.O, (Chairman) [GhalrmanCLoncSon Board), Goioniai Mutual Life Assurance Sostety, Limited], 33, Lennox Gardens, London, S.W, MAJOR DUDLEY ALEXANDER, GriVLO,, St. James’ PSacs, Lon.-dcn, S.W. JOSEPH BAAILSFGR9 (Chairman, Ebbw Vsie Steel, Iron, and Goa! Company, Limited, ana Hudson’s Consolidated, Limited), Lessons, GhSslehurst). ANDREW L. HORNER, K.G., M.P., 34, FitzwlSllam Fiase, BubHn. ADVISORY BOARD 3N NEW ZEALAND. C. CARTER (Chairman. Taranaki Petroleum Company, Limited), Devon Street, New Plymouth. H. J. OKEY, M.P., New Plymouth. Technical Advisor: J. D. HENRY, 4, London Wall Buildings, London, E.C. Bankers: PARR’S BANK, LIMITED, 52, Thread needle Street, Lo: don, E.C. THE BANK OF NEW ZEALAND, 1, Queen Victoria Stieet, London,-E.C. London Solicitors: ALLEN EDWARDS and OLDFIELD, 16, Eastcheap, London, E.C. New Zealand Solicitors: GOYETT and QUILLIAM, Devon Street, New Plymouth. WESTON and WESTON, Brougham Street, New Plymouth. Brokers; HARRY FRANKLIN and Co., 23, Austin Friars, London, E.C. Auditors: DELOITTE PLENDER GRIFFITHS and Co., 4, London Wall Buildings, London, E.C. Secretaries and Registered Offices: THE OIL TRUST, Limited, 4, London Wall Buildings, London, E.C PROSPECTUS. OBJECTS. — This Company has been formed for tho primary purpose of acquiring and operating the Borinw rights of The Taranaki Petroleum Company, Limited, over proved and oil-producing lands, and near the seaport of Now Plymouth in Taranaki, North Island, New Zealand. The Company acquires the oil-producing rights over property at tidewater, a drilling and operating equipment, and boring rights over three separate territories carefully selected as the result of expert advice founded upon indications of oil and gas. The total area over which hm-ink rights extend is, approximately, 4800 acres. • •a;-■- / • » V GOVERNMENT SUPPORT, AND BONUS OF £lo,ooo.— The Government has from " time to time made offers of £10,030, allotted as follows:—(a) £2,500 to bejniid on proof being submitted that not loss than 250 000 gallons of marketable crude oil Ims been won; (b) £2,out) on 50,000 gallons; (c) £2,500 on 1,000,000 gallons(d) the balance of £2,500 to he paid to the person or company who first produces by his or its own refining plant’ 500,000 gallons of refined mineral -hi ; die first claimant giving necessary proof is’to receive respective bonus ’ PRELIMINARY OPERATIONS.— The Taranaki Petroleum Company, Limited, Brougham Street New Plymouth, New Zealand (nominal capital £150,000) was formed in 1906. Fiv wells have been drilled on the property to be operated by this Company; in t-nreo of these oil was secured under conditions fully described in the reports of the experts. A fourth well lias now struck oil; a recent telegram announces that the wells are at present flowing at tho rate of 360 barrels per week. In order that the pioneers might benefit by the Government bonus (above referred to), oil has been allowed to come to the surface by natural flow. ' On May 11th 1911 the phmeer Company was paid the first instalment (£2,500) of the bonus on the production of 2*50,000 ’ gallons of “marketable crude oil.” ’ EXPERTS’ REPORTS.— The British Empire Oilfields, Limited, having received most encouraging reports on the properties, commissioned Mr. J. D. Henry to conduct investigations. This gentleman had the assistance of well-known New Zealand experts, and associated with him in the professional work done in connection with these properties is Dr. J. M. Bell (Messrs. Bell and Fraser), who was, until recently, head of the GeoWiml In New Zealand. One statement made by Mr, Ho aij reads:— logical *mvey “Tho property, in a mere conspicuous degree than any other of which I have a knowledge in th-> Colonies, has tho primary essentials of an oilfield in which one can with confidence recommend °an invest" , merit of British and Colonial capita!; it has production, oil which, as analyses show, is of th* very quality, and a position at tidewater ensuring the easy and economical delivery of plant and"exnrrt af crude and refined products.” Dr. Bell, in his Report, says:— which prime “The geological structure 0' the Taranaki District, New Zealand, together with the production has attended initial developmental work, indicates the existence of an important oilfiefd Of importance in the light present knowledge are the properties covered by this report, including a'-* thaw do the Moturoa Block, which fringes New Plymouth Harbour and encloses wells yielding petrohum cf S highest quality. These oil properties, which possess great potential value, are from their position oaaahi* of more expeditious and economical development than any others with which I am acquainted Oil p-odu-tion here, considering the geographical position which the Dominion ho’ds both from commercial and standpoints, possesses unique advantages; and the more extensive exploitation of your Company’s holding affords a most promising enterprise for the investment of capita!.” s FUTURE OPERATIONS.— The primary objects of tho Company will be:— (1) The erection of an up-to-datj Refinery. (2) The immediate despatch to New Zealand of an wnert 1 drilling staff. (3) The immediate drilling of additional wells on the proven property. (4) The gradual* daveion I mont of tho reserve territories. (5) The organisation ef an oil sales department, and generally, (6) The conwer«*i«rj of what has hitherto been a purely leial industry into a modern oilfield business with ample financ'* and a thoroughly experienced management. ” <i Tho Minimum Working Capital (guaranteed by tho Vendor Company under Contract No. 3) will in tl a opinion of the Company’s technical ad-isors, enable this Company to carry out the above work in' the + s thorough and erpeditious manner. * 10st 2 REFINERY. —The estimated cost of a refinery erected upon the property, and having a capacity of 10 009 gallons per day, is £23,000. As tho output is increased this refinery can bo added to without any disturbance f’+h t original erection. 0 ie QUALITY OF THE OlL.— Oil f - om the wells has been analysed by Messrs. A. F. Craig and Co of Pai Scotland. The conclusion of their Rep "t reads as follows: sley, “This is a crude petroleum of the most excellent quality bath as regards the market value of the urnducts obtained from it and the ourlty and character of these products themselves. The peasily handled and refined at lo.v cost, and the solid paraffin can bo extracted direct from the Wavvnii from the first distillation without any chemical treatment whatever, and is of excellent colour and crvct-ii line structure. * “The spirit and finished kerosene arc c-f first-class quality, water-white, and of good small “This crude petroleum in purity closely resembles the old pure Pennsylvanian pstroluem but era-tlv excels it in the extraordinary high proportion of solid paraffin wax which it yields. b J “We are aware of no natural petroleum which has been found to be so rich in this valuable product ” POSITION OF THE PROPERTIES.— The plots on which flic wells have been drilled are. on their western boundary, within 150 yards of the seashore of New Plymouth Harbour. A public road and the State Branch Railway connects New Plymouth with the wharves and breakwater. ‘ 1 u The Company’s Exports say:— J h 0 1 Cl P ti “Tho geographical relationship of the held to the harbour, the land grad ent, and the depth of water at the im ding point enable us to say that the property has unsurpassed positional advantages.” MARKETS.—The well-known p‘elective policy of the Dominion onsmes operators an unassailable home market, while, when an export busings has been organised, Australia should take all the surplus oil produced Therefore, these oil resources can be developed regardless of foreign operations or competition.' ‘ ““ Mr. Henry concludes his Report upon the properties as follows: “The entire proposition can be recommended on the ground that it ;s complete in every detail, embracin'* as it does tho production, refining, aid marketing of petroleum under the most favourable, economic, and trad* ing conditions in one of the most progressive Colonies of the Empire.” ’ The Company will pay a broker igc of sixpence per Share on all Sha.es allotted to persons other than subunderwriters on application forms be mug a broker’s stamp. v The preliminary expenses are estimated at £6OOO, inclusive 0 f amount payable to the British Empire Oilfields, Limited, but exclusive of brokerage. IT IS INTENDED TO ESTABLISH A NEW ZEALAND REGISTER OF SHAREHOLDERS IN DUE COURSE. Dated this 28th day of March, 1012. Application for Shares in New Zealand and Australia will be received on behalf of the Company by the Dank of New Zealand, at any of its principal Branches, or at tho offices of the TARANAKI PETROLEUM COMPANY LIMITED, New Plymouth; by THE TARANAKI SHAREBROKERS’ ASSOCIATION New Plymouth- and bv' THE PRINCIPAL SHAREBROKERS THROUGHOUT THE DOMINION, 5 y ’ J \ SPECIAL NOTE.— Since the Prospectus was printed SIR GEORGE CLIFFORD, Bart.. Stouvhurst, CHRTSTCHUI-CH, and SIR JOHN LANE HARRINGTON, K.C.M.G., Chairman of the Oil Trust, Ltd., LONDON, have consented to join the Board of Directors after allotment. ] \\ o: t( S( K J P fc ] i ii -C3