We just got more proof that there's loads of oil near Gatwick Airport

The board of oil and gas company Doriemeus just unveiled another independent report that confirmed that there is a whole glut of oil underneath the ground near Gatwick Airport.

Doriemeus said in a regulatory statement that Horse Hill-1 oil field, which was at one point tipped to garner 100 billion barrels of oil for Britain by the oil exploration group UK Oil & Gas Investments (UKOG), has 
9,245 million barrels of oil in just 55 square miles covered by the Horse Hill licences (PEDL137 and PEDL246).

The independent analysis by Nutech follows only a couple weeks after Schlumberger’s report, entitled “Petrophysical Evaluation of the Horse Hill-1 Well,” which said Horse Hill has 271.4 million barrels of oil in place per square mile.

This is more than the UKOG touted in April when they suggested the local area had around 158 million barrels of oil per square mile.

This is one of the biggest onshore oil discoveries in Britain.

Doriemeus, a group that acquires companies and projects in the oil and gas sector in Europe, employed one of the world’s biggest oil and gas industry infrastructure giants Schlumberger to lead an independent investigation into how much oil is underneath the ground in the Horse Hill Oil Field in the Weald Basin, West Sussex, near Gatwick Airport.

The Horse Hill-1 well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport.

The PEDL137 and PEDL246 licenses are held 35% by Magellan Petroleum Corporation and 65% by Horse Hill Developments Limited, a special-purpose company that holds the rights to a 65% participating interest and operatorship in the onshore Horse Hill Oil Field in the Weald Basin, West Sussex.

“Nutech’s latest report is a significant step towards understanding the resource potential of the Weald licences, being the first independent semi-regional quantification of OIP over the area that incorporates the findings from the HH-1 well,” said Donald Strang, Doriemus’ Chairman.

UKOG’s Chairman David Lenigas also tweeted his excitement about the announcement:

 And had to clear up some confusion on Twitter regarding the reporting of numbers:

 It is perhaps unsurprising that Lenigas would have to because, after all, UKOG got into a whole heap of trouble over the amount of oil it claimed was underneath the ground in Gatwick – several times.

NOW WATCH: Forget the Apple Watch — here’s the new watch everyone on Wall Street wants

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.