UK Oil and Gas Investments (UKOG) has issued a clarification regarding its estimation of oil at Gatwick airport.
The company said it has not carried out enough work to know how much oil there is. “The Company has not undertaken work outside of its licence areas sufficient to comment on the possible OIP in either the approximate 1,100 square miles or the whole of the Weald Basin.”
The response came after the company announced last week there was up to 100bn barrels of oil in the south east.
It said the oil should not be considered prospective or contingent, so the oil could not be considered potentially recoverable yet.
Reacting to today’s statement Brenda Pollack, Friends of the Earth’s South East Campaigner said: ”UKOG has backtracked on the wild claims it made last week and admitted that it has no idea how much oil is under the Sussex Weald.
“This is yet another example of the potential for shale oil and gas being overhyped by an industry desperate to starting pumping profits with little concern for residents or the climate.”