PETROLEUM.

Taranaki Herald, Volume LXI, Issue 144197, 13 September 1913, Page 2

PETROLEUM.

TARANAKI (N.Z.) OIL WELLS, LTD.' On Friday afternoon EngineerLieutenant H. Ponsonby Mackenzie, R.N., tbo Admiralty's coal inspector for Australasia, with headquarters at W-cfitport, visited tho wella of the above company in company with tho chairman of'the Advisory Board (Mr. C. Carter) and Mr. J. Little. Tho visitor was much interested in the operations, and. expressed surprise at the extent of the development that had taken place during the past year. He was greatly impressed : with tho . suitability of the oil for burning purposes. The gravity and flashpoint wore right up to standard, and for naval fuel purposes the oil was excellent. . . The Admiralty, he said, was keenly interested :in tne development of oil resources within the Empire, and natually was following the local operations with no little interest. Auckland was being made a naval base, and provision for tho storage of oil for fuel would be made. Naturally the Admiralty was desirous of obtaining supplies m the Dominion if they could be obtained. The rotary bore is down to a depth of 1120 ft. and drilling is in hard formation. During tho week the well has been cased with 12Jin. casing to * depth of 750 ft. , . , No. 1 boro at Bell Block is down 3125 ft. and No. 22060 ft. .

INGLEWOOD OIL. BOEING AND , PROSPECTING COMPANY.

A meeting of directors of the Inglewood Oil Boring and-Prospecting Company was hold at tho company’s. offico> Brougham Street, on Friday night, Mr. T, Furlong presiding. - The following directors were also present: Messrs. C* Ahier, J. J. Elwin, G. Ramson, F. C. Nichoils (Inglewood),, and A.. E. Watkins. Mr. 3. E. Wilson, solicitor to the company, and Mr, 0.. F. Foote (secretary) were also present. The principal business before the meeting was the consideration of a definite ofler received from a syndicate of substantial people for the rights and options of the company. , The syndicate offered a substantial sum in cash, ■ sufficient to pay all the liabilities of the company, and also agreed to form a company of. £50,000 capital for further exploitation, present shareholders to receive scripin the new company to the value of £7 3s 6d for every original £lO share bold by individual shareholders. .The directors carefully considered the offer and as the result of their the syndicate will he' informed that if ft is prepared' te give shareholders, the same interest in tho new company that they have in tho old one, viz., £ for £, the offer will bo favourably entertained.

CONSOLIDATED OILFIELDS. LTD,

The Huiroa bore of the Consolidated Oilfields of Taranaki, Ltd.,, was down to a deptji of 842 ft. on the 11th inst„ capital progress haring been made during the week. BONITHON COMPANY. Drilling; operations hare been resumed at this company’s bore, which was down to 1462 ft. last night. PHOENIX COMPANY. Good progress has been made at the Phoenix 'Company bore, which is now down to a depth of 900 ft. BLENHEIM BORE. The Blenheim bore of the Taranaki Oil Lands A, and D. Company is down bo a depth o'f 1660 ft.