More Capital For Apc
p. 86 · Read in the full issue
Karlova Bore Down Nearly Two Miles
rE Australasian Petroleum Company Pty., Ltd., reports that, as at August 30, 1947, drilling of the bore at Kariava, Papua, had reached 9,117 feet, the depth drilled since August 2, being -579 feet. The total depth of the bore is now just under two miles.
To provide funds for an expanded future drilling programme, the Company is taking steps to increase its nominal capital from £2,000,000 by the issue of 750,000 new £1 shares to the shareholding Companies.
The Company’s programme for 1948 in cludes the drilling of another deep test after the completion of the Kariava bore, and two to four other holes to a depth of approximately 6,000 feet, with two new rigs which are now being purchased and shipped to Port Moresby.
Geological and geographical survey work will also be continued during 1948.
The Company’s exclusive rights to prospect for petroleum over an area of 9,894 square miles in Papua and 8 918 square miles in the Mandated Territory, have been extended for three years from July 1. 1947.
The death occurred on October 10. of Mr. Joseph Henry Rawnsley, of Raglan Street, Manly, Svdney. He was the father of Mr. Bert Rawnsley, previously of Rabaul and now with the BP Head Office staff. The late Mr. Rawnsley who was 80 years of age at the time of his death, was a visitor to Rabaul on several occasions.
SS “River Mitta” is due to sail from Sydney for Port Moresby, Lae and Rabaul early in November.