UK Oil and Gas says not in a position to verify initial claims of possible reserves
Gatwick may not be the new Dallas after all.
Reports that an oil minnow may have discovered up to 100bn barrels of oil near the UK airport sent its shares soaring last week and prompted criticism from environmentalists.
The Horse Hill licences cover 55 square miles of Weald Basin….It is estimated that the relevant Jurassic section of the Weald Basin is approximately 1,100 square miles.
The company has not undertaken work outside of its licence areas sufficient to comment on the possible oil in place in either the approximate 1,100 square miles or the whole of the Weald Basin.