The Waikato Times, THAMES VALLEY GAZETTE, AND KAWHIA ADVOCATE. Established Thirty-Four Years. THE OLDEST DAILY NEWSPAPER IN THE WAIKATO. THE LARGEST CIRCULATION OF ANY DAILY PAPER SOUTH OF AUCKLAND. TUESDAY, NOVEMBER 27, 1906. THE TARANAKI OIL WELLS.

Waikato Times, Volume LVII, Issue 8065, 27 November 1906, Page 2

The Waikato Times, THAMES VALLEY GAZETTE, AND KAWHIA ADVOCATE. Established Thirty-Four Years. THE OLDEST DAILY NEWSPAPER IN THE WAIKATO. THE LARGEST CIRCULATION OF ANY DAILY PAPER SOUTH OF AUCKLAND. TUESDAY, NOVEMBER 27, 1906. THE TARANAKI OIL WELLS.

All New Zealand is watching with interest at the present time the development of the Tarauaki oil fields. As is mast natural under the circumstances there is a considerable amount of scepticism regarding Taranaki's oil bores. A lengthy history of the enterprise published some few months ago by one oi the New Ply month papers, showed that attempts to strike oil at Moturoa had been in progress intermittently for over twenty years, bur until the last company took the matter in hand, nothing more than indications that it existed was found. The excitement caused a few years ago by the activity of Mr K.".M. Smith, M.H.K., in connection with tlie exploitation of Tarauaki ironsand, temporarily diverted attention from the petroleum enterprise which was then begiuniug to be regarded by the public more as a joke than a serious veutuie, It was not so regsnled, however, by those who had staked large sums of money on tts ultimate success. Thousands of pounds were expended on machinery for boring, and disappoint iient alter disappointment was experienced, until the original movers became disheartened and retired from the uiietju I tight. I udaui ted by their failure to realise their hopes. however others stepped in with more Capital and n,ore machinery, only to experience the non-success. These investors did little more than demonstrate that the elusiv'b oil did in reality exist in large bull; beneath the sands of Moturoa; it was beyond them to induce it to rise in paying quantities to the surface. Early la.si yeae, however, certain developments caUbed the Tarauaki oil wells to lie no longer regarded in the light of a joke, and shares in thu company that then had the business in hand took ti sensational jump. It was demonstrated beyond denial that a vast stme ~! oil had been taliped, and it required lueivly the erection of adequate pumping machinery to put a huge industry in a fail way to fruition. This machinery wasci.dered, but vexatious delays occurred before it it'as lauded in the colony, and more before it wi«> finally erected. In the meantime, interest in the wells fluctuated as conflicting reports c tine fi an headquarters. But Moturoa became the most noted place in Tarauaki, and was visited by thousands weekly, for whose benefit the tap was occasionally turned o i, Large quantities of oil which esc.ped from the bore were stored and a small amount was sold for various purposes. Of eonrse the trade could not be developed while the product could only lie placed on the market in its crude state. More capital was therefore raised and the existing company was merged into a larger concern, whirl expects to consider plans lor a huge refinery in the course of a Few weeks. The success of the Moturoa bore directed attention to other parts of the province as prospective oil fields, and indications were not wanting that it was present u. many places, notably at Inglewood, wheie two prospecting companies have been formed. There is now little doubt that an industry of tremendous potentialities is about to be opened up, from vliK'li the colony will gain untold benefit. Tin progress of the Tarauaki oil lields will be watched with friendly interest from one end of the colony to the other, and no one

will grudge the old investors the I'etiu'ii they scei.i likely to reap after j so many years of failure and anxiety. The conversion of the land of Inilter- | ful into a vast oil tielddoes nol seem ;m ! uureaso iaolu expeelat'on in view 0 f t'ne ilea-'opinents of il • ■ lasl twelve nnmilis in il with ii wi'l eonie cm[doyment for (honsands of ojicmtivvs, and the accession of a vaM uinouut of eupita] to I lie c-ilonv.