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The Search for Oil.
? ?
PETROLEUM ASSOCIATION
MOOTED.
Convened by the directors ot the Lake
Bunga and Lake Tyres Oil syndicates, n
meeting of leaseholders and shareholders
in lease applications in Gippsland, also
others interested infinding petroleum iu
Australia, was held at Scott's Hotel yes
terday afternoon, when Government assist
ance in boring for oil was urged. Dr. J.
A. Gilruth presided.
Mr. J. Macmeikan said that hitherto
the cost of prospecting had been borne by
had been given by either the public or
the two Governments. It was of the
highest national importance that this
country should be independent of other
countries for its oil supply in peace, as
well as in war . Australia needed oil more
than she needed gold, and it was impos
sible to spend too much on the search for
oil. So far, very little drilling had been
done, and the money spent had been
trifling, while the plant, generally, had
been imperfect. The whole seven Go
vernments should 6pend annually a cer
tain sum on boring. The directors of the
Lake Bunga Syndicate had applied to the
Government for n grant under the Alin
ing Developmoit Act of £5000, 011 a pound
fnr nmitlri f* finish fhrt «iv-e«n*
in Gippsland.- and drill more lioles in the
vicinity. The Minister for Mome and
Territories had also been asked to bring
before the Cabinet an application for
£20,000 to spend in drilling for oil. ? It
was proposed to organise a deputation to
the Minister of Mines to urge upon him
that thc need for petrol and oil was a
national objective.
Dr. G. B. Pritcbard, who recently re
turned from America, said there was no
doubt oil existed in Australia, but there
were obstacles to overcome. With imper
fect plants and men without knowledge
in chargc, the search for oil would cost
a large amount of money. Concerted ef
fort must be made in a broad way to
overcome problems. v
Mr. G. D. Meudell and others also de
livered addresses, and the following mo
tion was carried: —
That in the opinion of this meeting it is
desirable to form a petroleum association to
watch the interests of everybody interested in
the search for oil in Australia. ' and that those
present form a committee, with power to add
to their number, to take up the matter and
formulate a scheme to be submitted to a future
meeting of those interested.
The names of Dr. G. B. Pritchard and
Messrs. H. S. Elvins, J. L. Strcvins, J.
MacMcikan, H. Soanes. H. S. Lyne and
G. W. Sbireffs were placed on the com
mittee. Mr. G. D. Meudell was appointed
hon. secretary.
A second resolution ns follows was car
ried: —
That this meeting interested in oil approves
of tlio formation of the Lake Bunga Oil Well
Syndicate to secure a geological report on the
field at Lakes Entrance with a view to formim;
a boring company with a capital of £100,000
in £1 share* to be wed as follows:— Issue to
Subtle, 60,000; leaseholders, vendars and Lake
anga Oil Well Syndicate, 60, 000, the company
to hare paver to create reserve iharea li Meet
wry, 1
$