Report Causes Investment Boost for Horse Hill Oil Field
Posted on: 11/05/2015

Share prices in UK Oil and Gas Investments (UKOG) have seen a significant increase of six per cent. This rise comes following the company’s involvement in the discovery of oil at Horse Hill near Gatwick and recent estimations revealing just how much oil remains in the sandstone rocks.

The report, issued by a consortium of companies behind the exploration area, told that the upper Portland sandstone reservoir had an estimated 21m barrels remaining, this is a substantial amount more than the previous estimate made in December of 8.2m barrels.

“The Xodus Report supports the company’s view that the Horse Hill and Collendean Farm oil pool constitutes a significant conventional upper Portland sandstone oil discovery in the Weald Basin”, said UKOG chief Stephen Sanderson.

This is a very important step for the area, and will continue to bring in higher investments if the extraction matches the reports assumptions.

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