Hope surges at ‘ Gatwick gusher’

SHARES in the firm behind the “Gatwick gusher” oil well soared 41 per cent after tests proved large quantities of oil can be brought to the surface.

Aim- listed UK Oil & Gas said 463 barrels a day fl owed to the surface at a site in Sussex’s Weald Basin, where it said there could be multiple billions of barrels. Executive chairman Stephen Sanderson said: “Tests so far show oil has fl owed to the surface under its own pressure.

“Signifi cant quantities exist and can be brought to the surface at excellent fl ow rates.” Shares jumped 0.58p to 1.98p.