Appointment of Technical Director

RNS Number : 0419S

Alba Mineral Resources PLC

20 June 2018

 

Alba Mineral Resources plc

("Alba" or the "Company")

                          Alba Appoints Technical Director - Oil & Gas

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 Technical Director - Oil & Gas.  This follows the announcement on 9 April that Mr Sultan had joined Alba as a special adviser in relation to the Company's oil investments. 

Alba's Executive Chairman, George Frangeskides, commented: 

"We are very pleased that, after an initial period as an adviser to the Company, Feroz has now agreed to become more involved in our day-to-day activities by becoming Alba's Technical Director - Oil & Gas.  Feroz has a wealth of experience and has run significant oil and gas projects and companies in his time. His background and experience will be invaluable in helping to guide our investments at Horse Hill and Brockham."

Background

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 significant interests in both the mining and oil & gas sectors have prompted the Board's decision to ensure that the Company has a separate technical team tasked with advancing Alba's interests in each sector.   Howard Baker's position has accordingly been re-titled as Technical Director - Mining.   Mr Baker will continue to oversee Alba's technical and operational activities across its mining projects, while Mr Sultan will oversee Alba's oil interests in the Weald Basin, at Horse Hill and Brockham.

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)
Tim Thompson / 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 

 

END

 

 

BOAEALKEAAXPEFF