British energy company said inland shale oil basin has obvious commercial potential. Photo courtesy of U.K. Oil & Gas Investments LONDON, March 1 (UPI) — A British company tapping into inland shale oil basins said oil was flowing to the surface at a natural rate fast enough to yield obvious commercial potential. U.K. Oil & Gas Investments said oil was moving to the surface freely from the Kimmeridge reserve area of the Horse Hill shale basin at more than 900 barrels per day. Executive Chairman Stephen Sanderson said the latest test results provide “unequivocal proof” that oil can be pulled from the Horse Hill shale at commercial rates. “This result is therefore very significant for the company and the Weald basin of the United Kingdom,” the company said in a statement . “The Kimmeridge play has moved from science project into the zone of commercial reality.” Preliminary estimates made […]