Posted on 04/09/2015 10:50:23 AM PDT by tcrlaf
AN exploration firm has announced the discovery of billions of barrels of oil reserves at a site near Gatwick airport.
UK Oil & Gas Investments (UKOG) said drilling of the 55-square mile site at the Weald Basin had discovered 158 million barrels per square mile.
Chief executive Stephen Sanderson said the Horse Hill-1 well required appraisal and testing to prove its commercial viability but that it had “the potential for significant daily oil production”.
Together with another discovery, Portland Sandstone, it was a “possible world class potential resource”.
Mr Sanderson told the BBC: “We think we’ve found a very significant discovery here, probably the largest [onshore in the UK] in the last 30 years, and we think it has national significance.”
Similar wells in the US had seen “estimated recovery factors” of between 3 per cent and 15 per cent of the oil in place, he added.
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.”
(Excerpt) Read more at scotsman.com ...
How many decades of enviro-nut lawsuits will have to be paid for, before they are allowed to capitalize on it?
What the local Greenpeace says is probably the first clue: Greenpeace UK chief scientist Dr Doug Parr said: “To gleefully rub your hands at a new fossil fuel discovery you need to turn the clock back to the 19th century and ignore everything we have learnt about climate change since.
“We already have more than enough coal, oil and gas reserves to fry the planet. Dotting the English countryside with drilling rigs and pipelines to squeeze the last drop of oil out of Britain doesn’t make any sense.
“It’s time we uncoupled our economy from the dangerous rollercoaster of fossil fuels and invested in the clean technologies that can provide safe and cheap energy for decades to come.”
Ping!....................
(Gets dragged off in straight-jacket and thrown into padded room).
What is “Portland Sandstone”?...................
A drop in the bucket......................a really, really BIG BUCKET!..............
“Dotting the English countryside with drilling rigs and pipelines to squeeze the last drop of oil out of Britain doesn’t make any sense. “
And sending all that money to people that hate you does make sense?
A geologic stratum.
How do you say “NIMBY” in Cockney?
I would suspect it is the geological formation, most likely near an area known as ‘Portland’. Oil and natural gas are usually found in porous rock, like sandstone.
but peak oil theory states that there can be no new finds of significance.. and well umm... never mind..
Heathrow hillbillys movin’ to Beverly Hills?
So much better to have 30-40 metre tall windmills and acres of solar farms for which you need power station backup when the sun doesn't shine and the wind doesn't blow.
It would be nice to see all the Euroweenie countries discover huge fossil fuel deposits so that the moslem economies dry up. Then the Euroweenies can start their moslem ‘citizens’ a-packin’!
“UK Oil & Gas Investments (UKOG) said drilling of the 55-square mile site at the Weald Basin had discovered 158 million barrels per square mile.”
ROTFLMAO
To hell with clean energy, drill and use oil!!!!!!!
we’re looking at between 50 and 100 billion barrels of oil in place in the ground.
Would hate to think there were any 50-100 billion barrel oil spills recently at the airport.
Will the English left radical whackos chain themselves to the drilling equipment...?
It is absolutely amazing. The more the left screams about global warming the more oil is being discovered.
Good for them! Of course, the forces of evil will all try to get their hand in it but maybe some trickle down prosperity will whet the Brit’s appetite.
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