PETROLEUM

Taranaki Herald, Volume LV, Issue 14133, 12 February 1910, Page 2

PETROLEUM

OIL AND FREEHOLD COMPANY. Shareholders in the Taranaki Oil and Freehold Company are responding most satisfactorily, to the invitation recently issued by the directors to increase their holdings in the company, so as to supply funds for the continuance of operations. Mr. W. Balloch, the manager, leaves on Monday for Wellington, whore ho will confer with several leading shareholders resident in the 'city, who are taking an active interest. in the company’s operations. TARANAKI PETROLEUM CO. The work of sinking No. 2 and 3 boro is progressing steadily, No. 2 now being over 2700 ft. While this work is in progress it is, of course, almost impossible for the oil to rise, but it might be pointed out that each seam of gas and oil is covered with solid casing as. soon as the gas lessens, and very different results are anticipated when the well being considered as deep as it is advisable to go, this solid casing is withdrawn, and perforated inserted opposite each seam. If those anticipations are proved correct, shareholders should be rewarded for their long and weary waiting. No. 3 boro is nearly full of oil, and a steady yield continues to he saved. At their meeting last night the directors decided to invito the Premier, the Minister for Railways, the Minister fovT Minos, and the General Manager of Railways to visit The works.