Drills prepare to move in as firm strikes oil
Published Date:
06 January 2011
By Adam Kula
A firm is to drill underneath a tiny village after striking oil.
Northern Petroleum believes there may be half a million dollars' worth of oil at Forestside in West Sussex, around one mile east of Rowland's Castle.
It estimates up to six million barrels of exploitable crude oil is there for the taking - worth around $90 per barrel at today's prices. That works out at half a billion dollars' worth - equal to around 346m.
Northern has long suspected there was oil lying under the site and will now carry out more tests to discover whether the deposit is as big as it believes.
Derek Musgrove, managing director of Northern, said: 'It's encouraging. The good thing is we've managed to drill it without great impact on the local community.
'I think you'll find most people have not found it inconvenient. These days any industry that makes a profit locally is good.'
But he said the knock-on effect for the area would be small.
'If we put in a trench we're probably going to use local contractors, or if we need nightwatchmen we'll use local contractors,' he said.
Mr Musgrove said the firm would put a Texas-style 'nodding donkey' pump on site shortly.
But he said disruption to the area would be 'about zero'.
He plans to move the oil either by lorry or by an underground pipe connected to Northern's existing Horndean site, where it has been extracting oil for two decades.
Sandy Parker, 59, is a resident of the village, and secretary of the Forestside Social Club.
She said: 'We should have bought shares. It might actually be under my house because the drill curves under the ground.
'I'm just glad for them. They've put a lot of effort into it.'
Northern is also set to begin drilling at its Havant site later this year in search of oil. It wanted to drill under Leigh Park last year, but held off to concentrate on work at the Forestside site.
http://www.portsmouth.co.uk/newshome/Drills-prepare-to-move-in.6681123.jp