Horse Hill Update

RNS Number : 3099F

Alba Mineral Resources PLC

13 November 2020

 

Alba Mineral Resources plc

("Alba" or the "Company")

Horse Hill Update

Alba Mineral Resources plc (AIM: ALBA) notes the announcement today by UK Oil & Gas Plc, as majority shareholder of Horse Hill Developments Limited (the Operator of the Horse Hill Oil Project in the Weald Basin in southern England), that a hearing will take place at the Planning Court of the Royal Courts of Justice, London on 17-18 November 2020 regarding an application for judicial review of the consent granted by Surrey County Council ("SCC") in September 2019 for long-term production at the Horse Hill oil field.

The Company further notes that UKOG states in its announcement today that its legal advisers remain confident that SCC's planning decision remains entirely lawful and that the claimant's case is unsound, that the Weald Action Group's  two previous attempts to obtain judicial review on similar grounds were refused by two separate judges, and that SCC's defence will be joined by counsel for the Secretary of State for Housing Communities and Local Government acting as an interested party with respect to UK planning policy and guidelines.

Further material updates will be released as and when the Company is made aware of these.

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

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events. 

Without prejudice to the generality of the foregoing, uncertainties also exist in connection with the ongoing Coronavirus (COVID-19) pandemic which may result in further lockdown measures and restrictions being imposed by Governments and other competent regulatory bodies and agencies from time to time in response to the pandemic, which measures and restrictions may prevent or inhibit the Company from executing its work activities according to the timelines set out in this announcement or indeed from executing its work activities at all. The Coronavirus (COVID-19) pandemic may also affect the Company's ability to execute its work activities due to personnel and contractors testing positive for COVID-19 or otherwise being required to self-isolate from time to time.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

For further information, please contact:

Alba Mineral Resources plc George Frangeskides, Executive Chairman	[phone]
Cairn Financial Advisers LLP (Nomad)  James Caithie / Liam Murray	[phone]
ETX Capital (Broker) Thomas Smith	[phone]

Alba's Project and Investment Portfolio

Project (commodity)	Location	Ownership
Mining Projects
Amitsoq (graphite)	Greenland	90%
Clogau (gold)	Wales	90%
Inglefield (copper, cobalt, gold)	Greenland	100%
Limerick (zinc-lead)	Ireland	100%
Melville Bay (iron ore)	Greenland	51%
TBS (ilmenite)	Greenland	100%
Oil & Gas Investments
Brockham (oil)	England	5%
Horse Hill (oil)	England	11.765%

 

END

 

 

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