Big surprise, eh?

Huge oil reserves found near Gatwick may not be viable, company warns

UK Oil & Gas Investments sounds note of caution over its discovery of 100bn barrels at Horse Hill, Surrey, saying it needs proof of ‘commerciality’

Rilly?

David Lenigas?

Ahh, yes.

8 comments on “Big surprise, eh?

  1. 100bn?

    Tengiz in Kazakhstan, one of the biggest finds since the early days in the Middle East, is 6bn barrels. Kuwait’s colossal Burgan field is 44bn barrels. Whatever has been discovered under Gatwick, this estimation is out by not one but two orders of magnitude.

  2. A super giant oilfield lies undiscovered in an area whose geology is well understood, the London commuter belt. Most odd.

  3. I wonder if there was any suspicious in and out share trading around the time of this announcement.

  4. A wild card is always possible. But if 100 billion barrels were down there, to say that a deposit of that size is not commercially viable would be insane. So it almost must be a scam. But why chose so crazy an idea? There must be more credible cons they could have pulled. That would last a bit longer than a short fortnight and give them a change at getting away with the moolah.

  5. everyone commenting on this should read Private Eye’s demolition of Lenigaz’ track record this week

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