Brockham Update

RNS Number : 5035R

Alba Mineral Resources PLC

22 September 2017

 

Alba Mineral Resources plc

("Alba" or the "Company")

Brockham Update

The Company has been advised by the Operator of Brockham, Angus Energy, as follows:

-   That it has completed and submitted amendments to its Field Development Plan ("FDP") Addendum after consultation with the Oil & Gas Authority ("OGA") to include provisions for on-site power generation. These provisions detail a safe and efficient production process which will have the added benefit of allowing the Operator to repurpose surplus power to the National Grid.

-   That it has now received approval for its planning application to regularise the upgraded surface infrastructure at Brockham.

-   Accordingly, that it is preparing for final site preparation and subsequent production once the amended FDP Addendum is approved by the OGA.  Given the required amendments to the FDP Addendum, the Operator's previous guidance regarding bringing Brockham into production by the end of the summer is delayed.

-   That it will work to commence production as soon as practical following OGA approval of the FDP Addendum and a further update will be provided in due course.

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 James Caithie / Liam Murray	[phone]
Dowgate Capital Stockbrokers Ltd Neil Badger	[phone]

Alba's Project Portfolio

Oil & Gas

Horse Hill (Oil & Gas, UK): 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.

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. 

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.

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.

Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent of mineral exploration licence 2017/40 in north-west Greenland.

Limerick (Base Metals, Ireland): Alba has 100 per cent of the Limerick base metal project in the Republic of Ireland.

El Mreiti (Uranium, Mauritania): Alba has applied for the reissue of a uranium permit in northern Mauritania, centred on known uranium-bearing showings.

Alba continues actively to review 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.

Web: www.albamineralresources.com

 

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