Old news from Armidale and New England

Glen Innes Examiner, Monday, 29 June, 1925

OIL IN NEW ENGLAND.

Company Formed.

A Company, No Liability, to be called ‘The Northern Shale and Oil Prospecting Company,’ is being formed—with a capital of £4000 divided into 200 shares of £20 each. A contract entered into on behalf of the proposed company is dated June 2, 1925, and made between William James Mulligan (of Cangai, grazier), James Henry Mulligan (of Mosman, Sydney, company director), Robert John Mulligan (of Cooney Creek, near Armidale, grazier), and Joseph John Glasser (of Brockley, near Guyra, grazier), vendors, of the one part, and Harold Joseph Price, of Grafton, articled clerk (trustee of the proposed company), of the other part, for the acquisition of the vendors’ rights over the mining properties particularised in the prospectus, and for the appointment of Mr. W. J. Mulligan as manager of the company.

The company is being formed for the purpose of prospecting and developing certain mineral lands near Wongwibinda Station, close to the surveyed route of the proposed Guyra-Dorrigo railway line. Mr. W. J. Mulligan, A.I.M.M., well known as the successful manager of Cangai copper mine, reports that the shale, and particularly the valuable deposits which occur in it, are rich in hydro-carbons, and that among the many derivative products to be secured from the deposit which is found are included motor spirit and oil, which can be extracted by low temperature distillation, and in addition there appears ground for expecting also a substantial production of gas for town gas purposes and for power production on a large scale.— “Express.”