OIL AT BLENHEIM BORE

Taranaki Daily News, 19 May 1928, Page 12

OIL AT BLENHEIM BORE

FURTHER INCREASE IN FLOW OVER TWELVE BARRELS PER DAY, PETROLEUM SHOWERS ON FLOOR, The volume of oil flowing from ths Blenheim bore has gradually increased, during the last few days, until the rats yesterday was estimated at between Id, and 20 barrels for 24 hours, a barrel being equal to 40 gallons. The oil, which contains no water, is now coming from a little below the 2000 feet level, as further lengths of the 10-inch casing have been removed since Tuesday. It the flow continues at the present rate it is considered that the bore will be made payable. Throughout yesterday a steady shower o' petroliferous matter was falling upon the floor of the derrick arolind the tens inch pipe, a length of which had been lifted well above the ground level when the increased activity of the bore caused operations to be suspended. This matter was coming from the top of the pipe which was out of sight in the upper part of the derrick. Speaking to a News reporter last night, Mr. W. P. Martin, chairman of directors of the company, said that at present the actual bore, throughout its total length of 2000 feet, was full of water. This represented a.pressure of 8000 pounds per square foot, so that there was evidently a great pressure of oil to force up such large quantities as were being secured at present. In a few days, when this w’ater has been pumped out, he expected the flow -would increase to approximately 100 barrels for-24 hours.

On Monday a meeting of directors of the company will be held to consider future operations. The company has a capital of £6OOO, of which £5OO has not been subscribed. It is stated that there has been a fair inquiry for shares.