Solo Oil's Ritson on Schlumberger Horse Hill estimates

(MENAFN- ProactiveInvestors)Neil Ritson the chairman of Solo Oil (LON:SOLO) which owns a 10 per cent interest in Horse Hill Development discusses Schlumberger's estimates that the site near Gatwick airport could actually comprise 255mln barrels per square mile. The findings are 'encouraging' and back up earlier work conducted by NUTECH which claimed the tight reservoirs that form Horse Hill's Kimmeridge play could contain 158mln barrels of oil per square mile. It is still unclear how much of the oil can be removed. More work is required to de-risk the project before such resources and reserves can be defined. Ritson says Horse Hill remains a long-term project and had some significant technical and above ground challenges.