It has been confirmed that the oil flows from the Horse Hill discovery well, near Gatwick airport, continued at a stable rate above 456 barrels per day after testing resumed on Tuesday.
A second test, carried out yesterday, lasted for nine hours. The day before, a seven hour test measured oil flow at a rate of 463 bopd.
Horse Hill stakeholders including UK Oil & Gas (LON:UKOG) and Solo Oil (LON:SOLO) rose strongly in Tuesday’s trading session due to the news of the initial test results.
This morning, Solo Oil chairman Neil Ritson said: "The exciting initial flow rate of over 450 bopd has been maintained for a second day which is further encouraging news from this well.
“Two further intervals are yet to be tested and we look forward to further news in the coming days."
UKOG executive chairman Stephen Sanderson, meanwhile, said: "The well continues to produce high quality oil at good rates.
“Although further work is required to be done, we are now beginning to establish the commerciality of the project earlier than originally anticipated.
“The first two tankers full with 348 barrels of oil were sent to be refined at noon yesterday."