TARANAKI OIL WELLS, LTD.

Taranaki Daily News, 28 April 1916, Page 7

TARANAKI OIL WELLS, LTD.

To the Editor. Sir,—i was reading a letter in the /Daily News of April 17 about petroleum, and I think "D.J.H." is quite correct when he says hj« thinks it is time that a general meeting .vas called. The progress of drilling the holes since 1912 has been fast and furious. The depths of the holes in the year 1912 were as follows: No. 1, 2343 ft; No. 2, 3030 ft; No. 3, 3fißoft; No. 4, IG7B ft; No. 5, 1000 ft. The present depth of No. 1 bore is ISOOft, and has been abandoned, although Mr. Henry said in his report "for no sound engineering reason.'' Then what have the shareholders ■been paying for? At No, 2 Lore there has been enough good money spent to put down a new bore on oil.' They are down to about 2300 ft, 700 ft from the bottom, -although the work was started on July 12, 1916, almost ten months ago. No. 3 is 4000 ft down, and our exipert says in his report that "we may look'for something good; in fact, about 100 barrels per day." but "Blessed are they that expect nothing, for they shall not bB disappointed." At No. 4 there lias'been no drilling done, and it would take a hundred jr two to put her in the same condition as she was in 1012. No. 5 lias been drilled 1700 ft deeper, and is the best well the company lias at present; in fact, the only producing well the company has.' The rotary bore is down to something like 3100 ft with 4in casing, although she was, started with IBin easing. Splendid / work for a plant like this that cost so much money in America!—l am, etc., A SHAREHOLDER. Omata, April 25.