Britain just discovered 100 billion barrels of oil near Gatwick Airport | Alternative Energy | Forums

Wonder if they will extract it, Didn't the UK just ban fracking?

UK Oil & Gas Investments, the exploration, development, and production group, just revealed that it discovered about 100 billion barrels of oil near Gatwick Airport.

The group said in a regulatory statement that up to 100 billion barrels of oil could be onshore beneath the South of England, after it drilled a well at Horse Hill near Gatwick Airport, West Sussex, last year. The number comes from the fact that UKOG said that the local area could hold 158 million barrels of oil per square mile and from management estimates confirmed this morning on the BBC.

"Drilling the deepest well in the basin in 30 years, together with the ability to use concepts, techniques, and technology unavailable in the 1980s, has provided new cutting-edge data and interpretations to comprehensively change the understanding of the area's potential oil resources," Stephen Sanderson, the CEO of UKOG, said in a statement.

Read more: http://uk.businessin.....z3WoSfiKS6