[Crimson Dynamo]

http://news.sky.com/story/1461413/oi...be-world-class




The estimated size of an oil find near Gatwick Airport has been upgraded to 100 billion barrels, though extraction may be limited to just 3% of the total.

The surprise announcement was made by UK Oil & Gas Investments, which said the Horse Hill-1 well in the Weald Basin was now thought to hold 158 million barrels per square mile.

Stephen Sanderson, the CEO of UK Oil and Gas Investments described the find as "a possible world class potential resource" with the potential for "significant daily oil production."

He said: "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."

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