A heavy brown petroleum oil has been extracted from a core of the bore of Roma Blocks Oil Ca., N.L., at Roma Queensland Australia.
Directors have reported that three feet of sand has been passed through in the No. 3 well at from 3554 ft. to 3557 ft.
A sample of the core received in Melbourne has been tested by Mr. J. C Watson, chief chemist of the Victorian Mines Department, who treated the core with a volatile solution and extracted a heavy brown petroleum oil.
Results of the test may be inspected at the office of the company, The Geld superintendent advises that this sand very closely correlates with that first encountered in the No.
1 well. The bottom of the hole is at present at 3606 ft. in extremely hard formation, which would appear to be the cap of the 18 ft. hard shell that was met with above the productive oil sand in the No. 1 well. He describes the development as encouraying.
Int, Commodity Markets In the international commodity markets the most notable feature is the half-year maintenance of government-control schemes in tin, rubber, tea and sugar. The participating governments consider these schemes as a valuable medium for post-war reorganization of the world's commodity trade, and therefore are anxious to.continue the current cooperation.
British commodities were quiet and unchanged this week, except tin, which gained strongly following the reduction in the international export allowable from 120 to 80 per cent. Reduction of the quotas is interpreted here as a move by the tin committee for higher prices to obtain a larger dollar increment for the British Empire. The committee, however, watches primarily the trend in buying and abandon the price-raising campaign if the demand slows down. At 80 per cent, consumption is fully covered, although the re-stocking margin is small. Simultaneously, the lower quota enables the Malaya, Nigeria and Dutch Indies producers to push accumulation of mine-head stocks for export on short notice in case a boom develops.
Text read from the printed page and cleaned; old type leaves the occasional error.