Proceed
p. 23 · Read in the full issue
Oil Search to Proceed In N. Caledonia
THE predominantly French Gov
ernment-owned oil-prospecting
company SREPNC, which got encouraging results from a drill in the Bouraii district of New Cale donia last year, will continue oil prospecting in the Colony.
This has been made possible by increasing the capital of the com pany by 40 million francs (£A280,000).
The New Caledonian Government will provide six millions of this, the Oil Research Bureau in Paris 26 million francs and the remainder will be subscribed by private share holders in Noumea.
Siesmic tests will be made at the Bouraii site, and prospecting followed by seismic tests will be carried on in the Noumea peninsula which overseas geologists have described as an “interesting” area.
Back before World War I, oil drilling was tried in the Noumea beach-side suburb of Anse Vata (which now, of course, is also the headquarters of the South Pacific Commission).