UK explorer hails oil find, but warns on recovery rate

摘要

London-Independent company UK Oil and Gas Investments (UKOG) has announced a “world class potential” discovery in southern England that might amount to billions of barrels of oil, but acknowledged uncertainty about the potential recovery rate. UK onshore activity has traditionally been dwarfed by the giant operations of the North Sea, but the latest resource estimates for the little-known Horse Hill-1 well in the Weald basin south of London have caught the attention of the industry and investors alike.