THE TARANAKI OIL WELLS.
LUnited Peess Association.]
New Plymouth, May 17. The "Taranaki Herald" states that an important cablei from Mr Henrys principals in London has reached the directors of the Taranaki Petroleum Company, and that there is reason to believe that negotiations for the sale of the Company's works are on the eve. of completion. The directors have nothing further to communicate at present.
FUTURE PROSPECTS BRIGHT.
Later.
To-night the cable was considered by the directors, and a reply has been despatched by cable. The "Daily News" understands that the negotiations are in a particularly satisfactory forward state. If they are completed, as is likely they wi.l be shortly, it may be necessary for a responsible member of the directorate to proceed to London directly. It is also expected that Mr Henry will be returning to Taranaki in a few months time, and with him a plant and staff to exploit the oil field on comprehensive and up-to-date lines. Mr. Henry s people have unlimited resources. If the negotiations are completed the shareholders in the present Taranaki Company (adds the "News") will be on a good wicket.
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Bibliographic details
Colonist, Volume LIII, Issue 13109, 18 May 1911, Page 3
Word Count
188THE TARANAKI OIL WELLS. Colonist, Volume LIII, Issue 13109, 18 May 1911, Page 3
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