PETROLEUM.

Taranaki Herald, Volume LX, Issue 143767, 16 April 1912, Page 2

PETROLEUM.

TARANAKI COMPANY. The manager of the Taranaki Petroleum Company reports that No. 2 well is still maintaining the improved flow of oil, as reported a few days ago. No. 3 continues to flow as usual, and No. 5 has been carried down a little deeper into the oil sands, with the result that the pressure of gas has considerably increased, and there is also an improved flow of oil.

Since the boring operations of the Shell Company ceased at Kotaku, owing to the striking of the bed rock, nothing has been heard from that quarter. But quite recently (says the Grey River Argus) the men—who had been practically unemployed since boring operations ceased—were set to work to remove the machinery and erect the derrick close to one of the old bores where oil was formerly found. It would have been wiser to do this in the first instance instead of going quite a mile distant from any of the bores, and starting in the middle of heavy bush. But of course the “expert” knew all about the business, and the others had to do as the great authority instructed them. That failure, however, may be of value in view of subsequent boring operations, for no doubt the Kotuku Flat is destined to hold many oil boreholes in the future. As the company is about to make a start on fresh ground, there would soem to he little risk in prophesying that they are pretty certain to strike oil where the new bore is located, as oil .indications are thick round about. After all, a failure or two in endeavouring to develop an oil field is not a very discouraging event in the progress of the industry, although entailing considerable pecuniary loss.