Buried treasure just off the beach

Thursday, 5 January 2012

By Tim Webb

The town is best known for cream teas, lawn bowling and as somewhere to retire. But a small exploration company believes that millions of barrels of oil could lie off the shores of the
most unlikely of places - Bournemouth (Tim Webb writes).
Yesterday, the Government awarded Wessex Exploration and its partner Norwest Energy interests in six offshore blocks in the Channel. The blocks stretch from the Bournemouth shoreline to the westerly tip of the Isle of Wight. The companies already own sites in the Wessex Basin.
Bournemouth beach-users not enamoured with the prospect of oil platforms on the horizon have been promised by David Bramhill, chairman of Wessex Exploration, that no drilling is planned offshore. The company hopes to repeat the success of BP's nearby Wytch Farm, Western Europe's largest onshore field, which produces about 13,000 barrels per day.
Wessex Petroleum hopes to begin drilling next year. "It's very early days, but, with the technology we have today, if the oil is there, we have no excuse not finding it," Mr Bramhill said.
Shares in Wessex Exploration closed up 5 per cent at 5¼p.

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Ce noodl a été diffusé par Norwest Energy NL et initialement mise en ligne sur le site http://www.norwestenergy.com.au. La version originale est disponible ici.

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