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 weve 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 areas potential oil resources.
(Excerpt) Read more at scotsman.com ...
That’s where they’ve been dumping the used oil from Fish n Chips for the past 2 thousand years , LOL
It's the new doctrine of MAD environmentalism.
Worse, what if the planet were freezing, would he then suggest burning more fossil fuels?
The Left and Islam are two self-destructive philosophies that fit hand in glove. You’ll note that Jihadi leaders never strap on the homicide vests. Neither do the Green leaders live backwards.
How low can the Saudis go before they cannot afford to drill/pump?
Obviously due to decades of illegal dumping..
By all means you idiot Watermelon...please explain exactly which "safe and cheap" energy sources those are. You can have clean or cheap. But not both. But do tell.
Wanker.
Ever see a movie called "The Brass Teapot"? It's sort of like that.
Brilliant quote! If they are so cheap, why do we need to convince anyone to invest in them? especially governments which are so good at investing their money wisely??
I’m not a big wiki fan, but they give a simple summary.
Portland Group (geology)
http://en.wikipedia.org/wiki/Portland_Group_%28geology%29#cite_note-1
The Portland Group (or Portlandian) is an Upper Jurassic lithostratigraphic group (a sequence of rock strata) in south-east England.
The rocks include limestones, dolomitic sandstone, siltstone and mudstone. It is divided into two formations; the Portland Stone Formation (or ‘Portland Limestone Formation’) and the underlying Portland Sandstone Formation (or ‘Portland Sand Formation’). The Portland Stone Formation is further divided into a lower Portland Chert Member and an upper Portland Freestone Member, both of which are limestones. The Portland Sand Formation is made up largely of dolomites but includes siltstones and fine-grained sandstones in its lower parts.
Don’t worry... Obama will put a stop to that...
bump
good for England. What’s left of it anyway.
Customs agents seize 24,000 litres of illicit fuel
www.dailyrecord.co.uk News Scottish News Daily Record
May 25, 2013 - CUSTOMS agents have seized 24,000 litres of dodgy diesel contaminated with bleach, ... Customs experts believe it's rebated fuel the Irish version of red diesel. ... The crooks remove the colour using acid, bleach or cat litter. .
I believe the Saudis have the lowest cost of production. So, everyone else gives up because MR < MC before the Saudis.
LOL! I thought they found a new reservoir of cement materials!................
naught een Muy bak yad ....
........or Paula Poundstone’s British cousin.................
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