AN IMPORTANT ENTERPRISE.

West Coast Times, 13 April 1912, Page 2

AN IMPORTANT ENTERPRISE.

THE TARANAKI OIL WELLS LIMITED.

The Prospectus of the Taranaki N.Z. Oil Wells Ltd. will ho issu'd to the public under very favoicabi :• ampieies. The lioard is an exception t y strong one, consisting as it does, oi ike i'.arl of Ranfurly, C.C.M.G., ; aairman; Major Dudley Alexandc •. C Ai.G.: Air. .foseph Hr: ibford: a 1 d Mr. Andrew L. Horner, K.C., Ai.b. Two further DTe.-iors will join the Tenrd alt*-r allotment; namely, Sir 0 1 t? 1 CliiiMrd. .Mari., of ; meyhursi,,” (Tiriv.tchurch, N.Z. ; ami Sir John Lane Harrington, K.C.M.G.. the latter being Chairman of the Oil Trust Limited. It should bo mentioned that the (hi Trust Ltd., will act as Secretaries, and that consequently the management wi’fl bo in good and experienced hands. Investigation and reports have been made by those competent experts Air. J. D. Henry ,of London, and Dr. .]. At. Roll, until recently bead of Geological Survey in Now Zealand. The former will, indeed, continue to act ns Technical Advisor.

Tho Taranaki Oil Atolls Company Ltd., has been formed to acquire Ibc oil-rights over some -1800 acres of property at Now Plymouth, from .Urn Taranaki Petroleum Company Ltd.,

end on which there are already three flowing wells yielding about 15,000 gallons of oil per week. There are, too, in the Company’s tanks, now stored, some 310,000 gallons of oil awaiting tho Refinery, which it is tho intention of the Directors to erect.

It might bo remarked that the nil that is flowing from tho three wells already active, contain over 17J ]>er cent of paraffin wax. Al’essrs A. F. Craig and C., of Paisley Scotland, who ana-lysed-some of the oil state: “ AA'o are aware of no natural petroleum which has been found to bo so rich in this valuable product.” Dr. J. AI. Bell, again, in bis Review, say-: “The geological structure of the Taranaki District, New Zealand, together with tho production which has attended initial developmental work, indicates the existence of an important oilfield.” 'Jlion Air, J. D. Henry concludes bis report with these words; “ Tho entire proposition can bo recommended on the ground that it is complete in every detail, embracing as it does, the production, refining and marketing of petroleum under the most favourable economic and trading conditions in one of the most progressive Colonics of the Empire.” Having regard to all these things—- > to the undoubted value of the property, to the approved richness of tho oil, to the personnel of the directors, and finally to the experienced and competent management—an investment in tho .shares of The Taranaki N.Z. Oil Wells, Limited, would seem to be decidedly attractive. It should certainly command tho serious attention of the public.