£475,200 For Oil Search
p. 24 · Read in the full issue
AN expenditure of £475.200 in a search for oil in Australia. New Zealand, and New Guinea has been made by the Vacuum Oil Co. Pty. Ltd. A brochure issued by the company points out that, it has spent this amount during the past 20 years.
Associated with other interests in a £1.000.000 organisation, it is concentrat ing on New Guinea and Papua. “The search has gone on”, states the brochure, “in an area nearly 4.000 miles bv 3.000 miles —from the Sepik River, New Guinea, to South Cape. Tasmania”.
Mandated New Guinea Sugar Planta tions Development Ltd. has gone into voluntary liouidation. A meeting of the Co. was held in Brisbane Queensland, in April to examine the winding-up pro ceedings.