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Oil explorers discover oil near London's Gatwick airport

Reuters - UK Focus

LONDON, Oct 24 (Reuters) - A consortium of oil explorers, including Solo Oil and Magellan Petroleum, estimates there are up to 20 million barrels of oil at a new oil field near Gatwick airport, the group said on Friday.

It said that based on other wells drilled in the area it was highly likely it could produce oil from the Horse Hill-1 well at commercial rates.

The group is also expecting to test the presence of gas at the well in the coming two weeks.

"We are now looking forward to drilling the Triassic, which is a new and untested exploration target in the area and which, if successful, may contain appreciable volumes of gas," Solo Oil Chairman Neil Ritson said. (Reporting by Karolin Schaps; editing by Susan Thomas)