“STRUCK OIL.”

Gisborne Times, Volume XXVII, Issue 2432, 22 February 1909, Page 4

“STRUCK OIL.”

The news that payable oil has at last been found in Taranaki will be gratifying to all who are concerned in tho welfare of the Dominion. Provided the supply holds out at the present very satisfactory rate, the result will be to add* a new industry to tbe comparatively lew upon which New Zealand at present depends for its prosperity. Tile people of Taranaki are richly entitled to the special-suc-cess that will be theirs if the oil-well holds out as it promises, for although there have been satisfactory indications in other parts, the people of that province have set a particularly fine example to the rest of the Dominion in the courage and pertinacity with which, in the face of most discouraging experiences, they have stuck to their task of finding oil. It is, of course, too early to spea'lc with absolute definiteness as to tho position of the oil industry. There is still tho question of the water in the bore, but we may reasonably expect that if it continues our Now Plymouth friends will find some way of overcoming the obstacle. One of the immediate results of success in Taranaki will be to give a big impetus to the promotion of. prospecting in other parts of the Dominion, and it is quite likely that the event will

have a very vital bearing on the fu-... . tore of this district. -It has long £ been recognised that the indications " nf a fine supply of first-class oil in "S Poverty Bay are exceptionally good, but a great deal of capital is 'necessary to make really satisfactory prospecting. If it can be shown that wells in Taranaki are paying dividends, there will he little difficulty in obtaining the money that is necessary to properly test the whole of this district. Meantime the operations of the Gisborne Oil Company, which is v about to commence, boring, will be watched with increased interest. Z 9