Brockham Update

RNS Number : 1331P

Alba Mineral Resources PLC

14 November 2016

 

Alba Mineral Resources plc

("Alba" or the "Company")

Environment Agency permission received for drilling of the Brockham side-track

Alba is pleased to announce that Angus Energy plc (the "Operator"), has informed the Company that it has today received permission from the Environment Agency to drill the BR-X4Z side-track at the Brockham production oil field, licence PL 235, in which Alba is earning a 5% interest.

The Operator will now seek the Health and Safety Executive ("HSE") and Oil and Gas Authority ("OGA") permissions needed to drill the BR-X4Z side-track at Brockham. We will update the market in due course.

Michael Nott, Alba CEO, commented: "Receiving the Environment Agency's permission to drill the Brockham side-track is an important step. The objective of the upcoming side-track is to increase and prolong production from the Portland reservoir while also giving us an opportunity to assess the potential of, and if successful, produce from the Kimmeridge and Upper Corallian formations."

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 is also earning a 5% interest in Production Licence 235, which comprises the producing onshore Brockham Oil Field.

Alba has earned the right to a 49 per cent interest in the Amitsoq Graphite Project in Southern Greenland and has agreed to acquire a further 41 per cent interest in the Project, subject to Greenlandic regulatory approvals.

In addition, the Company has recently renewed its Limerick base metal licence in the Republic of Ireland, and has applied for the reissue of a uranium permit in northern Mauritania. The new Mauritanian permit will be on a reduced area, and is 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 acquisition, farm in or joint venture in a range of jurisdictions around the world.

 

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