PETROLEUM.

Taranaki Herald, Volume LIV, Issue 13357, 22 December 1906, Page 2

PETROLEUM.

The directors of the Taranaki Pc troleum Company met on Fridaj evening. It was reported that s cable from Canada respecting ar. expert was expected daily. An extra driller had been engaged, and at the beginning of the New Year twe shifts would be. engaged on No. i bore. At this bore the work oi reaming and re-casing is progressing well, an 4 there are excellent indications of oil. Boring at No. 4 bore will be started early next year, anc at No. •5, the derrick for which h now nearly completed, as soon as, the staff is available. Many difficulties have been met with at No. 2 : but it i$ hoped to get under waj soon. A call of 2/6 on the contributing'shares (the -« market price oi which is now 13/6) was made, payable on 14th January.