Oil Search Concession In
p. 19 · Read in the full issue
Papua
From Our Own Correspondent.
Pt. Moresby, July 10.
THE first special permit under the Petro leum (Mining) Ordinance 1934-36 has been issued to Mr. C. J. Ahearn, a Mel bourne solicitor, who intends to form a company of which at least two-thirds of the shares will be held by British subjects.
The concession confers an exclusive right to search for oil in 20,000 square miles in the Western and Delta Divisions of Papua.
The permit is for 12 months from Sep tember 1. It contains special terms and conditions, among which is the guaran teed expenditure of large sums of money in the first and second periods of six months during the currency of the conces sion. Confidential reports of the company’s activities will be required by the Govern ment, and provision will be made to inspect the work done.