TARANAKI PETROLEUM.
By Telegraph—Press Association
[NEW PLYMOUTH, Sept. 19,
In connection with reports of the Trust negotiations on the Taranaki oil field, the position la: That Messrs Petrie and Nelson, who have floated £tho New Plymouth Oil Company and others in Dunedin and elsewhere, are iu negotiation with representatives of the Standard Oil Company in Sydney for the disposal of oert'aiu of their options. The syndicate's representative stated that the looal oil was so rich in byproducts that the Standard oil could not compete with American oil against the local article, and would consequently erect works here and endeavour to hold market that way. The Sydney representative of the Borneo oil wells übb also secured pamples of the oil from Ngaire Swamp, near Eitham, for submission to his London directorate and operations frou* that quarter are also expected. Iu the meantime Mr Way, [engineer to the syn* dioate, is procuring plant in Sydney to commence boring on the Bonithon Estate, close to the town. Boring operations are being vigorously pushed forward by the Taranaki Petroleum Company on two bores.
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Bibliographic details
Wairarapa Age, Volume XXIX, Issue 8242, 21 September 1906, Page 6
Word Count
179TARANAKI PETROLEUM. Wairarapa Age, Volume XXIX, Issue 8242, 21 September 1906, Page 6
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