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Papuan Oil Search—Another

Disappointment

THE ARC have abandoned the Wana bore in Papua. Drilling ceased at 9,866 feet, which is 2,000 feet more than was originally contemplated. The announcement says, “Testing of the formations penetrated is in progress.”

Drilling commenced on the Hohoro site on February 8.

The bore at Omati, by the associated company, Island Explorations Ltd., is down 2,149 feet.

The failure at Wana is a great dis appointment. It was said in October that, if the Wana bore failed, the APC might give up the search for oil in Papua. There is no indication at present, however, that APC intend to withdraw.

Copra Price—Minister Has No

Statement

Canberra, Feb. 14.

APPLICATION to the Minister to-day for the new copra price for Papua- New Guinea brought merely the announcement that the MOF price to the Australian Government, from March 1, would be £53/15/- Sterling per ton. There was no indication of what'the Australian deductions would be, or whether there is to be any distribution of Production Control Board or Stabilisation Fund accumulations.