"Perhaps, some experts would prefer to believe it. 100 billion barrels account for about 13.42 billion tons. It is obvious that the data on the oil reserves is overestimated many times," Donskoi posted on his Facebook page.
UKOG refers to the reserves near London as a "world class potential resource." It is also the deepest deposit found in the region in three decades, according to the company.
Last year, a report for the government by the British Geological Survey estimated that the local region may have shale oil resources anywhere from 2.2 to 8.5 billion barrels, with a central estimate of 4.4 billion.
The UK national press has already dubbed the area "Britain's Dallas." Oil industry analysts, however, struck a note of caution as the question of what percentage of this 100 billion barrels of oil reserve could be technically produced remains open.
