PowerSwitch Main Page
PowerSwitch
The UK's Peak Oil Discussion Forum & Community
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Oil discovery near Gatwick airport 'significant'

 
Post new topic   Reply to topic    PowerSwitch Forum Index -> News
View previous topic :: View next topic  
Author Message
Mark



Joined: 13 Dec 2007
Posts: 631
Location: NW England

PostPosted: Thu Apr 09, 2015 11:50 am    Post subject: Oil discovery near Gatwick airport 'significant' Reply with quote

http://www.bbc.co.uk/news/business-32229203

There could be up to 100 billion barrels of oil onshore beneath the South of England, says exploration firm UK Oil & Gas Investments (UKOG). Last year, the firm drilled a well at Horse Hill, near Gatwick airport, and analysis of that well suggests the local area could hold 158 million barrels of oil per square mile. But only a fraction of the 100 billion total would be recovered, UKOG admits.

The North Sea has produced about 45 billion barrels in 40 years. "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," Stephen Sanderson, UKOG's chief executive told the BBC. UKOG says that the majority of the oil lies within the Upper Jurassic Kimmeridge formation at a depth of between 2,500ft (762m) and 3,000ft (914m).


All our problems are solved.... Smile
Back to top
View user's profile Send private message
emordnilap



Joined: 05 Sep 2007
Posts: 12444
Location: way out west

PostPosted: Thu Apr 09, 2015 11:53 am    Post subject: Reply with quote

All? Shocked
_________________
The human appears to have no idea what its ideal diet should be; has self-inflicted diet-related diseases; causes extensive environmental destruction through basic food production & creates pathogenic infestations that widely infect its food supply.
Back to top
View user's profile Send private message
biffvernon



Joined: 24 Nov 2005
Posts: 16971
Location: Lincolnshire

PostPosted: Thu Apr 09, 2015 1:37 pm    Post subject: Reply with quote

There's a clue in the name 'UK Oil & Gas Investments'. It's a Ponzi Scheme looking for investments hyping a myth.
_________________
http://www.transitiontownlouth.org.uk
Back to top
View user's profile Send private message Send e-mail Visit poster's website
adam2
Site Admin


Joined: 02 Jul 2007
Posts: 5237
Location: North Somerset

PostPosted: Thu Apr 09, 2015 2:37 pm    Post subject: Reply with quote

I doubt that it is a complete myth and feel certain that SOME oil has indeed been found. As to whether the volumes of extractable oil will be profitable to extract, after the costs of the nimbyfests, that remains to be seen.
I would not care to put any of my money into such an uncertain venture.
_________________
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
Back to top
View user's profile Send private message
kenneal - lagger
Site Admin


Joined: 20 Sep 2006
Posts: 8220
Location: Newbury, Berkshire

PostPosted: Fri Apr 10, 2015 4:23 am    Post subject: Reply with quote

That oil is under some of the most expensive real estate in the country. As Adam says, it will be the nimbyfest to beat all nimbyfests!!

It's good to hear from the BBC that the dangers of using that oil are now being confronted and annotated by environmentalists. The ignorant unmitigated joy with which the announcement was greeted by the Beeb was annoying to say the least!
_________________
BLOG

It is very, very, very serious indeed. This is the big one!" Professor Tim Lang, APPGOPO, 25/03/08. And he was talking about food, not oil or the economy!
Back to top
View user's profile Send private message Send e-mail Visit poster's website
raspberry-blower



Joined: 14 Mar 2009
Posts: 936

PostPosted: Wed Apr 15, 2015 6:02 pm    Post subject: Reply with quote

The Backtracking has begun
Quote:
UK Oil & Gas Investments PLC (UKOG) has said its estimation of potential oil near Gatwick airport was untested.

The "clarification" came after its oil discovery in Horse Hill last week.

UKOG's chief executive told the BBC at the time that the Weald area, including the new discovery, could have "between 50 and 100 billion barrels of oil in place in the ground".

But the company now says it has "not undertaken work... sufficient to comment" on the Weald Basin potential


BBC: Size of find as yet unproven

BBC = Broadcasting Bollox Corporation
_________________
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
Back to top
View user's profile Send private message
vtsnowedin



Joined: 07 Jan 2011
Posts: 2956
Location: New England ,Chelsea Vermont

PostPosted: Thu Apr 16, 2015 4:07 am    Post subject: Reply with quote

raspberry-blower wrote:


BBC = Broadcasting Bollox Corporation

Laughing Very good. carry on!
Back to top
View user's profile Send private message
bigjim



Joined: 24 Nov 2005
Posts: 678
Location: Cleethorpes

PostPosted: Thu Apr 16, 2015 8:35 am    Post subject: Reply with quote

raspberry-blower wrote:
BBC: Size of find as yet unproven

BBC = Broadcasting Bollox Corporation


To be fair, it wasn't just the BBC who reported the potentially over-inflated resource potential of the discovery.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    PowerSwitch Forum Index -> News All times are GMT + 1 Hour
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB © 2001, 2005 phpBB Group