A PROMISING INVESTMENT.

Taranaki Herald, Volume LX, Issue 143763, 11 April 1912, Page 2

A PROMISING INVESTMENT.

THE TARANAKI (N.Z.) OIL WELLS, • LIMITED. The prospectus of the Taranaki (NiZ.) Oil Wells, Ltd., is issued to the public. The board, headed by the Earl or Ran- ; furly, is exceptionally strong. Sir i George Clifford, of Stonyhurst, Christchurch, and Sir John Lane Harrington, K.C.M.G., of London, will join the directorate after allotment. The Oil Trust, Ltd., will act as secretaries and managers, and Mr. J. D. Henry, the eminent expert, whose report on Taranaki oil recently was so emphatic and enthusiastic, will continue to be the technical adviser. The Taranaki (N.Z.) Oil Wells, Ltd., is formed to acquire .the oil rights over some 4800 acres of oil; lands near New Plymouth, so far held by the Taranaki Petroleum Company, Ltd. On the property are three flowing well# yielding fifteen thousand gallons of oil per week. Over three hundred thousand gallons are already stored pending the erection of a refinery. The quality of oil in the three wells now flowing is remarkably high, containing over seventeen and a half per cent, of. paraffin wax. Craigs, of Paisley, recognised authorities, state: “We are aware of no natural petroleum which has been found to be so rich in this valuable product.” Taranaki oil has become a’ practical enterprise of a magnitude which catmot fail to impress the public. It is significantly a development which means much to those who are in a position to acquire an interest. New Zealand, aa a Dominion, is naturally to a bigger extent still concerned m its success. The establishment and expansion of this great industry should, in short, be regarded as an important national achievement.