Brockham Update

RNS Number : 9630X

Alba Mineral Resources PLC

03 May 2019

 

Alba Mineral Resources plc

("Alba" or "the Company")

Brockham Update

Alba Mineral Resources plc (AIM: Alba), the diversified mineral exploration and development company, announces that Angus Energy Plc, the operator of the Brockham Oil Field under Production Licence ("PL") 235 ("Angus" or the "Operator"), has provided an update on operations at its Brockham well site, as follows:

·     The BRX4Z sidetrack has now been successfully re-perforated from 988-1044m MD, in order to establish the best possible communication with the fracture system present in the Kimmeridge Clay Formation.

·     Following the re-perforation, the tubing-deployed, hydraulically-set bridge plug has now been installed successfully. The completion string will now be run to prepare the borehole for the next operational stage.

·     The workover rig will be demobilised once the new completion has been run in hole and this is expected to take place early next week, on time and according to schedule, at which point the Operator will begin evaluating the results of the work before proceeding to the next stages.

Alba owns a direct 5 per cent interest in PL 235.

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

Qualified Person's Statement

The technical information contained in this announcement has been reviewed and approved by Feroz Sultan (B.Sc (Hons) Geology, M.Sc, Petroleum and Structural Geology, Karachi and M.Sc Petroleum Geology, Imperial College London), a petroleum geologist with over 45 years' experience in the management, exploration, development and production of oil and gas.

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 / Harriet Jackson / Henry Wilkinson            [phone]

[e-mail]

Alba's Project & Investment Portfolio

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.

Clogau (Gold, Wales): Alba owns a 90 per cent interest in Gold Mines of Wales Limited ("GMOW"), the ultimate owner of the Clogau Gold project situated in the Dolgellau Gold Belt in Wales.

Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent of mineral exploration licence ("MEL") 2017/40 and 2018/25 in north-west Greenland.

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

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

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

Oil & Gas

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.

Horse Hill (Oil & Gas, UK): Alba holds an 11.765 per cent effective interest in the Horse Hill oil and gas project (licences PEDL 137 and PEDL 246 covering a total area of 142.9 km²) in the UK Weald Basin.

Web: www.albamineralresources.com

 

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