TARANAKI OILFIELDS
CHAIRMAN’S STATEMENT TESTS TO BE MADE MELBOURNE, Oct. 26. The managing-director of Taranaki Oilfields, Sir Colin Fraser, at the annual meeting, spoke of a combination of interests which the directors hoped to get together in order to undertake the task of thoroughly testing the structural areas when the proposed new oil legislation to govern the industry was enacted. He said the combination will command adequate capital, world-wide experience and technical resources necessary to undertake deep drilling tests. If the projected test wells reached their objectives the shareholders would then know whether their hopes would be realised and if really commercial oilfields were proved to exist in New Zealand. If they achieved success it would be a development of major national importance not only to the Dominion, but particularly from the defence standpoint to Australia and the Empire.
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Wanganui Chronicle, Volume 80, Issue 256, 28 October 1937, Page 7
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139TARANAKI OILFIELDS Wanganui Chronicle, Volume 80, Issue 256, 28 October 1937, Page 7
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