PETROLEUM.

Taranaki Herald, Volume LX, Issue 143768, 17 April 1912, Page 3

PETROLEUM.

THE TARANAKI COMPANY. Visitors to the wells this morning report an extremely satisfactory state of affairs. Nos. 2,3, and 5 wells are flowing better than ever, and the pressure of gas is very great—in the opinion of some observers, greater than over before. No. 7 underground tank at No. 2 bore is nearing completion. This is the largest underground tanlc yet excavated by the company, and will have a capacity nearly equal to two of the other tanks. OIL SHARES RISING. Mr. H. J. Brown has received a cable from London to-day stating: “Shares in the Taranaki (N.Z.) Oil Wells, Ltd., are being purchased at a premium of 2s 6d on the London Stock Exchange. It is expected that price will go much higher.”