UK Oil and Gas Investments have announced that it has made a significant oil discovery close to Gatwick airport in the UK.
The Horse Hill well with the potential reserves spans the counties of Sussex, Surrey and Kent.
The company has found the equivalent of 100bn barrels of oil, making it the largest of its kind in the UK in 30 years according to the small independent explorer.
Despite this, the amount that is feasibly recoverable is under debate. UKOG has reportedly stated that they would not use the fracking technique.
This news has sent stock of UK Oil and Gas Investments company up by over 200% in one day.