The Telegraph: Oil find expected in Britain’s Dallas
Investors will learn this week whether an oilfield near Gatwick Airport known as “Britain’s Dallas” could hold billions of pounds worth of oil and gas, in what could be the biggest onshore oil discovery in England since the 1960s.
According to Magellan Petroleum, which owns a 35pc stake in the Horse Hill project in West Sussex, the 16 sq km site could hold up to 671 million barrels of oil, and 456 billion cubic feet of gas.
Based on Magellan’s estimates, Jason Robertson, an analyst at Dowgate Capital Stockbrokers, which advises one of the investors, estimates the upper limit for recoverable oil and gas reserves could be 226.1m barrels of oil equivalent (BOE).