BONITHON FREEHOLD PETROLEUM

Wanganui Herald, Volume XXXX, Issue 11979, 24 September 1906, Page 7

BONITHON FREEHOLD PETROLEUM

COMPANY, LTD. Shares in this company are being rapidly taken up, and intending investors cannot do wrong in making full enquiries regarding this unequalled opportunity for investment. Bonitlion consists of twelve and a half acres of splendid freehold under the Land Transfer Title, and is situate about midway between New Plymouth Post Office and the breakwater at the port, and near the great Birthday AVell of the Taranaki Petroleum Company. The general level of Bonithon is not more than twenty-five feet above sea level, and Mr Way, judging from the strong ooze of oil and the equally strong indications observable all over the farm, asserts that if a bore were put down on the north-east corner thereof a real good well would be struck at about the same depth as that of the Taranaki Petroleum Company. He adds that Bonithon lies on the same run as that of the Birthday Well. The promoters have decided to adopt Mr Way's suggestions and have sent him and the general manager to Sydney to purchase an up-to-date boring plant, which will arrive and be at work on the farm about October next. This has been paid for by the promoters or owners of Bonithon, interests in which have nearly trebled, and could be sold, if so desired, at the latter quotation three times over, but there are none in the market. However, to fully develop the property, about which the New Zealand limes of the 17th inst. reports "astounding quantities of petroleum indications lying thick about the farm," and the Taranaki Herald of the 10th inst. says — "'Careful examination of the area discloses in many places petroleum ooze in great quantities, and Mr Way has reported so favourably upon them and they arc so apparent in fine weather, even to the uninitiated, that the owners have decided on purchasing an up-to-date plant this month, so that boring may at once be proceeded with"; the promoters have decided, in terms set forth in the deed of amalgamation, to offer the general public a chance to join in the capital venture, which Mr Way thinks may turn out to be a fortune-making concern. Full details may be obtained from Messrs Holloway and Hogan, sharebrokers, Wanganui.