Important News from the Oil Wells.
THIS DAY. A very satisfactory letter has been received from the working manager at the Southern Cross Petroleum Company's works. At the date of writing the pipes wera down 180 ft, and were so full of gas that the men dare not approach them with a light. When the pipes were down 111 ft, the Manager set fire to the gas, when it exploded with a loud report. He states that the rock is very much saturated with. oil and gas, more so than at any previous time, and that ho has the greatest confidence in achieving success with this bore. To-day the Directors received later information by telegram as follows : — "The depth on Friday last was 270 ft. Got through the flagstone at 250 ft, then shell 10ft. Gas is coming freely in the rock. Oil is showing freely in the rock, also salt water. Now, we are boring through a different stratum, very hard." PRICE OP SHAEE3. We are informed on the best authority that 500 shares in the Southern Crosß Oil Company were sold to-day at 5s each. It will be remembered that a few days ago shares were sold by auction at prices ranging from Is 6d to 2s 6d each.
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Bibliographic details
Star (Christchurch), Issue 5132, 14 October 1884, Page 2
Word Count
211Important News from the Oil Wells. Star (Christchurch), Issue 5132, 14 October 1884, Page 2
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