Alba Further Strengthens Oil & Gas Team

RNS Number : 4111I

Alba Mineral Resources PLC

21 March 2018

 

Alba Mineral Resources plc

("Alba" or the "Company")

Alba Further Strengthens Oil & Gas Team

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, is pleased to announce the appointment with immediate effect of Feroz Sultan as Alba's Special Adviser - Oil & Gas.  This follows the appointment, announced on 14 March, of Sue Corrigan as Alba's Technical Consultant - Oil & Gas. 

Feroz Sultan is a petroleum geologist with over 40 years of diverse experience in the management, exploration, development and production of oil and gas. He has managed both onshore and offshore oil and gas field developments and prepared field development plans and technical and commercial evaluations.  His experience includes over six years (2007-13) as Chief Executive Officer/Director of Petro Ventures International, a private company which participated in the drilling of wells which have resulted in establishing gas fields in the UK North Sea and offshore Romania.     

Mr Sultan also spent three years (2003-6) as Chief Operating Officer/Technical Director of Grove Energy Ltd, the AIM and TSX-V listed company which merged with Stratic Energy in 2007 with a merger valuation of approximately C$123 million.

Since January 2013, Mr Sultan has been a Director at the UK private company, DESS Energy, an equity partner in the Kirkleatham Gas Field and Westerdale Block, Yorkshire, England. DESS Energy is also pursuing oil and gas exploration and production opportunities in Europe and Mozambique.

Alba's Executive Chairman, George Frangeskides, commented: 

"I am delighted to welcome Feroz Sultan to our team at Alba.  Feroz has a wealth of experience and has run significant oil and gas projects and companies in his time."

"Feroz's combination of technical and corporate skills in the sector will be invaluable as we enter the key testing and production phases at Horse Hill and Brockham respectively.  Together with our recent appointment of Sue Corrigan, Alba now has a strong oil and gas team in place to guide the Company through the next phase in its development."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information please contact:

Alba Mineral Resources plc

George Frangeskides, Executive Chairman                        [phone]

Cairn Financial Advisers LLP (Nomad)     

James Caithie / Liam Murray                                            [phone]

First Equity Limited (Broker)

Jason Robertson                                                             [phone]

Yellow Jersey PR (Financial PR/ IR)
Thompson / Sophia Macleod / Henry Wilkinson [e-mail]	[phone]

Alba's Principal Operations & Investments

Oil & Gas

Horse Hill (Oil & Gas, UK): Alba holds an 18.1 per cent interest in Horse Hill Developments Limited, the company which has a 65 per cent participating interest and operatorship of the Horse Hill oil and gas project (licences PEDL 137 and PEDL 246) in the UK Weald Basin.

Brockham (Oil & Gas, UK): Alba has a direct 5 per cent interest in Production Licence 235, which comprises the previously producing onshore Brockham Oil Field.

Mining

Amitsoq (Graphite, Greenland): Alba owns a 90 per cent interest in the Amitsoq Graphite Project in Southern Greenland and has an option over the remaining 10 per cent.

Thule Black Sands (Ilmenite, Greenland): Alba owns 100 per cent of mineral exploration licences 2017/29 and 2017/39 in the Thule region, north-west Greenland.

Gold Mines of Wales (Gold, Wales, UK): Alba holds a 49 per cent interest in Gold Mines of Wales, the ultimate owner of the Clogau Gold project situated in the Dolgellau Gold Belt in Wales.

Inglefield Land (Multi-Commodity, Greenland): Alba owns 100 per cent of mineral exploration licences 2017/40 and 2018/15 in north-west Greenland.

Melville Bay (Iron Ore, Greenland): Alba is entitled to a 51 per cent interest in mineral exploration licence 2017/41 in Melville Bay, north-west Greenland. The licence area benefits from an existing inferred JORC resource of 67 Mt @ 31.4% Fe.

Web: www.albamineralresources.com

 

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