The explorer said it had found further oil at its Bradford Bridge well in the Weald Basin.

A spokesman for the company said: “The presence of light mobile oil in fractured Kimmeridge shales is highly ‘significant” and that the new oil had been derived from a “much larger reservoir”

It comes as Enquest yesterday also revealed that its Kraken field in the North Sea delivered its first oil.

Shares in the North Sea Oil explorer closed 3.39 per cent higher at 30.50p.

Ukog’s shares closed up 1.23 per cent at 2.05p after rising 17 per cent throughout the day.

This follows a near 60 per cent rise in its stock last week when it first struck oil at the site.

Meanwhile in the North Sea, the Kraken oil field, which is one of the largest projects delivered on schedule and under budget.

Greg Clark, business and energy secretary called it a “landmark” project for the UK oil and gas industry.

Source: www.express.co.uk