PETROLEUM NEWS

Taranaki Daily News, Volume LIII, Issue 118, 26 August 1910, Page 5

PETROLEUM NEWS

®IL STRUCK AT CARRINGTON ROAD. Mr. B. O'Dowda, head driller of the Standard Oil Company of New Zealand, reports that at a depth of 3016 feet he had a big flow of oil, and that this is increasing with pumping. There is a great pressure of gas, which at t>mea throws mud and quantities of oil a considerable height The large concrete storage tank is now practically complete, and the spoil from this has been so deposited on the lower side that with comparatively small expense another reservoir can be constructed. The tank, which 1» now being completed, has a capacity of about a quarter of a million gallons.

At a meeting of the Joll Dairy Com* panv at Okaiawa on Wednesday, the chairman (Mr J. B. Murdoch) referred to the use of petroleum for steam produeing purposes. He understood it ' would be as cheap as wood. If they, had to fall back on petroleum, he hoped < the Moturoa wells would keep on rua« i ning. A London correspondent states that J on the 11th inst., at Salisbury House, the statutory general meeting of the , 5 members of the New Zealand Oilfields, Ltd., was held. Mr. George Macdondd I [stated that an expenditure of £IO,MO a was foreshadowed in the prospectus. He / I proceeded: "We are taking over a very $ laTge area for petroleum research, ani »| l it is covered by no fewer than. 44 diffev* J.v 1 ent leases. Forty have been certified $ |by our lawyers on the other side qp ■ 1 being perfectly in order, and they ho(B to set the remaining four in order in a. y [short time. The instant the purchase is completed I can assure you there wdi I be an active'and forward policy pursuri. 1 by the Board to discover whether oil exists, as the indications show, in comj niercial quantities in New Zealand or ■ < not" '<