PETROLEUM NEWS.
At a meeting of directors of the Tarnnaki Petroleum Company last night, the manager reported that everything was progressing satisfactorily at the bores. Drilling at Xo. 5 was making good progress, and there were again good indications of gas. At Xo. 3 the drill was cutting slowly through a hard stratum, and oil was still flowing very freely into the last of the underground tanks provided. At Xo. 1 bore the tank had been connected with Xo. 2, and had already been filled to a depth of 3S inches from the latter well. Some 600 preference shares wore allotted. The sharemarket shows a demand for the old issue of shares, and the higher prices are being maintained.
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Bibliographic details
Taranaki Daily News, Volume LIII, Issue 248, 25 February 1911, Page 5
Word Count
119PETROLEUM NEWS. Taranaki Daily News, Volume LIII, Issue 248, 25 February 1911, Page 5
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