Page 29 Advertisement 1

New Zealand Tablet, 11 April 1912, Page 29

TARANAKI (New Zealand) OIL WELLS, Ltd. Abridged Prospectus Continued. ■Dr. Bell, in Ms Report,, says : The geological structure of the Taranaki district. New Zealand, together with the • production which has attended initial development work,.indicates the existence, of an important oilfield. Of prime importance in the light of present knowledge are the properties covered by this report, including as they, do . the .Moturoa^block, which fringes New Plymouth Harbor and encloses'wells yielding petroleum of the highest quality. These .‘oil properties, which . possess great potential value, are from their position capable of more' expeditious and economical devel- ; opment Qian any others with which . I am acquainted. Oil production here, considering the geographical position which the Dominion holds, both from commercial and defence standpoints, possesses ' unique advantages; and the more extensive ex- . ploitation of your Company’s holdings affords a most promising enterprise for the investment of capital.’ FUTURE OPERATIONS. —The primary objects of this Company will be: (1) The erection of an up-to-date Refinery. (2) The immediate dispatch to New Zealand of an expert drilling staff. (3) The immediate drilling of additional wells on the proven property. (4) The gradual development of the reserve territories. (5) The organisation of an oil sales department, and, generally, (6) The conversion of what has hitherto been a purely local industry into a modern oilfield business with ample finance and a thoroughly,; experienced management. ■ j: REFINERY.-—The estimated cost of a refinery erected upon the property/- having a capacity of 10,000 gallons per day, is £23,000.” As the output is increased this refinery can be added to without any disturbance of the original erection. ; ./r' ; QUALITY OF THE OlL.—Oil from the wells has been analysed by Messrs. A. F. Craig and Co., of Paisley, Scotland. - . The conclusion of their Report reads as follows; ;• ri. - f - ■; / ‘ This is a crude petroleum of .the most excellent quality both as regards the; market ■ value of the products obtained from it and the purity and character of these products themselves. The petroleum is easily handled and refined at low cost, and the solid paraffin can be "extracted direct; from {the heavy oil from the first distillation without any chemical treatment whatever, and is of excellent color and crystalline structure. - ; - This crude petroleum in purity closely resembles the old pure Pennsylvanian petroleum, but greatly excels it in the -extraordinarily high proportion of solid paraffin wax which it yields. We are aware of no natural petroleum which has been found to be so rich in this valuable product.’ MARKETS.The well-known protective .policy of the Dominion ensures operators an unassailable home market, while, when - an export business has been organised, Australia should take all the surplus • oil produced. • Mr. Henry concludes his Report as follows: The entire proposition can be 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 favorable, economic, and trading conditions in one of the most .-.progressive Colonies of the Empire.’ ’ “ . ' ' ' The Company-will pay a brokerage of sixpence per Share on all Shares allotted to persons other than subunderwriters on application forms bearing a broker’s stamp. - The preliminary expenses are estimated at £6OOO, inclusive of amount payable to the British Empire Oilfields, Limited, but exclusive of brokerage. IT IS INTENDED TO ESTABLISH A NEW ZEALAND REGISTER OF SHAREHOLDERS IN DUE - ‘ COURSE. { , ' Dated this 28th day of March, 1912. • APPLICATION FOR SHARES IN NEW ZEALAND and AUSTRALIA will be received on behalf of. the Company by the Bank of New Zealand, at any of its principal Branches, or at the Offices of the . TARANAKI PETROLEUM COMPANY, LIMITED, New Plymouth; and by the PRINCIPAL SHAREBROKERS THROUGHOUT THE DOMINION. " , \ SPECIAL NOTE.—Since the Prosoectus was printed^-; : : : • ,- SIR GEORGE CLIFFORD, Bart., Stonyhurst, CHRISTCHURCH, and SIR JOHN LANE HARRINGTON, K.C.M.G., Chairman of the Oil Trust, 4 Limited, LONDON, have, consented to join the Board of Directors after allotment. - • •