'Gatwick Gusher' driller aiming to widen search

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More boots may be pounding the ground at the so-called Gatwick gusher after plans were lodged to drill two new wells at the site. 

Horse Hill Developments, which owns the majority of the site’s licences, has asked Surrey County Council if it can start drilling in new spots to figure out how much more oil is below the surface.

Further work may also be done on four zones at the site, close to Gatwick Airport.

Horse Hill Developments is 48% owned by junior stock market-listed UK Oil & Gas, led by executive chairman Stephen Sanderson.

“This planning application… is firmly designed to move these assets into near-term oil production and the monetisation of our core recoverable resources,” he said. 

The Gatwick Gusher is the brainchild of Aussie entrepreneur David Lenigas, who is the top shareholder of  UKOG.

Several other listed oil firms also have an interest in Horse Hill.

Source Article from http://www.standard.co.uk/business/gatwick-gusher-driller-aiming-to-widen-search-a3371091.html

October 17, 2016 |
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