Saturday, October 17, 2015

David Lenigas - The Gatwick Gusher at Horse Hill

David Lenigas
July 2015. David Lenigas, the flamboyant executive who made ambitious claims that there were up to 100bn barrels of oil under the ground close to Gatwick airport in southern England, has abruptly stepped down from his position as executive chairman of UK Oil & Gas Investments (UKOG).

No reason was given other than a formal announcement from the small independent oil explorer saying Lenigas would “focus on other business interests”.
The UKOG share price trebled in April after Lenigas triggered a media frenzy when he talked about a world-class discovery, labelled the Gatwick gusher, being made at its Horse Hill-1 well in the Weald Basin on the borders of Surrey and West Sussex.

Lenigas is a blunt-speaking bear of man who describes himself as ‘just a dumb mining engineer’, and ‘a bush boy’, referring to his upbringing in Western Australia. ‘There were seven people living in the town. When my family left, there were just two.’
BBC's Question Time: DAVID LENIGAS

A leading oil and gas expert has poured cold water on further claims made by the investors in the so-called Gatwick gusher at Horse Hill that billions of barrels of oil could be exploited under Surrey. UK Oil and Gas (Ukog) and its partners in Horse Hill have said in a new report that more than 9.2bn barrels of oil in place (OIP) lies under its 55-square-kilometre licence area. The company, which is controlled by David Lenigas, said: “The most significant OIP within the Jurassic section is contained within the shales and tight conventional reservoir limestone sequences of the Kimmeridge.”
However, Matthew Jurecky, head of energy research at GlobalData, said that the claims meant nothing until the company conducts a flow test to prove any of the oil that is claimed to be within reached can be commercially exploited.