London-listed Reabold Resources said today that new drilling operations “further suggested” the West Newton field in east Yorkshire is the largest UK onshore oil and gas discovery since the 1970s.
The resources of a major onshore oil find have been upgraded, with analysts saying it could become the “largest” of its kind in the UK.
Bath-headquartered firm Union Jack Oil has announced a "major" oil discovery at its onshore West Newton appraisal well.
Reabold Resources will invest £3 million Rathlin Energy in exchange for a 37.08% equity interest in the firm.