Brockham Licence Update

RNS Number : 7944E

Alba Mineral Resources PLC

11 May 2017

 

Alba Mineral Resources plc

("Alba" or the "Company")

Completion of Acquisition of 5% Interest in Brockham Licence

The Company is pleased to announce that, pursuant to the terms of the Farm-Out Agreement between Alba and Angus Energy Weald Basin No 3 Limited ("Angus"), and following receipt of the consent of the Oil and Gas Authority ("OGA"), the Brockham partners have now completed the assignment from Angus to Alba of a 5 per cent participating interest in Production Licence (PL) 235 comprising the Brockham Oil Field.  Alba is now therefore a licensee under PL 235.

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 Michael Nott, CEO	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Dowgate Capital Stockbrokers Limited Jason Robertson / Neil Badger	[phone]

About Alba

Alba holds a 15 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. Alba also has a direct 5% interest in Production Licence 235, which comprises the producing onshore Brockham Oil Field.

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.

In addition, the Company has 100 per cent of the Limerick base metal project in the Republic of Ireland and has applied for the reissue of a uranium permit in northern Mauritania, centred on known uranium-bearing showings.

Alba continues actively to review and discuss numerous other project opportunities which have value-enhancing potential for the Company whether by bolt-on or stand-alone acquisition, farm in or joint venture.

 

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