PETROLEUM

Taranaki Herald, Volume LIV, Issue 13820, 28 November 1908, Page 4

PETROLEUM

Tho Bonitlion Petroleum Company, wo are informed, is about to go into liquidation, and a new company is to bo formed.

The weekly report from the Taranaki Petroleum Company is as follows: — No. 2 bore still continues to give varying quantities of oil, some 19 barrels being obtained this week, and tho directors have to take steps to sell some of the oil, as there is now from 4000 to .-jOOO gallons on hand, all the tanks at No. 2, and many of tho barrels being fun".

At No. ."} there is nothing fresh to report; work is going steadily forward. A Mr. W. J. Hall, connected with the Commonwealth Oil Corporation, litd., of Sydney, was. here on a holiday this week, and after visiting the different bores, and seeing the refined samples, expressed himself to the chairman and the manager as most favourably impressed with the company's prospects. He said that tho oil was undoubtedly very rich, and asked that a drum be sent him for ann]y3is from a more commercial aspect than any we had hitherto obtained.