PETROLEUM.

Taranaki Daily News, Volume LV, Issue 282, 21 April 1913, Page 8

PETROLEUM.

NEW COMPANY.

1301! IXO STARTED.

On Saturday morning a very important step in the development of the Taranaki oil was made, when boring operations were commenced by the Taranaki Oil Lands Acquisition and Development, Ltd. i This is tlio lir.it bore to be put down t '' under the supervision of Mr. Fedorowicz. i, Tlie site of the bore is immediately opposite the little church at Moluroa. At 11 o'clock about 30 local shareholders and others assembled to view starting operations. - Air. E. UiiHiuw, managing director, made a short speech detailing the history of the company, lie pointed out that the bulk or ti'ie shaves had been taken up in liieuheim, and out of a totat of 25,000 £1 share* intcndul for allotment less than 1000 remain unapplied for. The oilier lour directors are Marlborough men, who havfe proved their mental strength by their successes in their respective walks of life. The policy the directors have taken was to secure the best machinery and 1 the best men to work it. The company was proud to claim Britain's greatest authority on oil, Mr. Boverton, Redwood, as its technical adviser, and it was- upon his advice and recommendation that they had Mr. Fedorowicz there and in charga ' ; of operations. Mr. Griffiths said that when the history of Taranaki oil is writ- ''■ ten he thought that it would be found ' that Mr. Fedoroiviez's arrival amongst them would mark an epoch as clearly as did the advent of William the Conqueror in the history of England. The boiler, engine, tools and general plant were sup- v > plied by tlie PeiKins Mcintosh Co., of London, and were the best in, the world. The Austrian drillers were specially selected from the Galucian oil fields by Mr. Fedorowicz, and the local assistants were all men for whom Mr. Griffith* could . vouch. The excellence of the derrick rig , and installation of the plant were ample proof of what the men could do, and he ' V thanked them for the good and loyal' work done. He made special reference 'y to the help given by Mr.. H. Ji. Bro*a J' in London, whom he described as the man behind the throne. At one tim# it was anticipated that by calling up 10» ■ per share sufficient funds would be provided for the work contemplated, but ,i now the cost of installation of the first plant was known it was realised that > before oil was reached 12s 0d per share | would be called up. All were then thanked for their pres> ! ence. Mrs. Griffiths turned on the steam, ' and boring started. The machinery worked smoothly, and the heavy 18In. bit penetrated six feet of clay in the i presence of the visitors. The most striijI ing feature of the building is the great < strength of the timbers, which are 12in., , 14in. and up to 18in. in diameter, and i the fine 40 h.p, engine was certainly not out of place in such staunch surround* ■ ings. At many heights in the derrick are strong platforms, with handrails for the convenience and protection of the workers. The boiler is homed more than a hundred feet away, and near by , are a storeroom and well-equipped . smithy. As the site of the bore is only , a stone's throw from the present flowing , wells, the striking of oil appears » certainty, the only question being tlio one of quantity. » THE BONITHON COMPANY*. Everything is now ready for n start at drilling on the Bonithon Company'* property. Mr. W. McLean, the secretary of the company, is at present in town, p and he will remain hero until Wednes* 1 ! day.