GISBORNE OIL COMPANY.

Gisborne Times, Volume XXVIII, Issue 2712, 17 January 1910, Page 4

GISBORNE OIL COMPANY.

MEETING OF DIRECTORS. A meeting of directors of the Gisborne Oil Company was held on Saturday morning. Present: Messrs \V. D. Lysnar (chairman), J. Clark, G. B. Oman, W. F. J. Anderson, and T Adair. The report from the manager stated that he was proceeding with the su.kmg of the 5-inch casing, and lhat a depth of 1190 ft had been reached on the Bth inst., the bore having struckan improved strata after 1130 ft, where more gas was struck. At ]265 f t si’i! better formation was pierced, consist irtg of about sft of hard scone. The Chairman stated that the manager had stated in conversation with him on Monday last that the bore was down 1240 ft. and that the supply of casing would shortly be exhausted. Another G2oft of casing had since been ordered. The action of the chairman and secretary in ordering the casing was approved. An application was received from an English syndicate anxious to acquire boring rights, and it was decided to reply stating that the directors were not prepared to do any business at present, but would consider the matter later on. A quantity of routine business -was transacted, and 573 shares were allotted before the conclusion of the meeting.