ALBA MINERAL RESOURCES PLC

Regulatory Filings • Oct 8, 2019

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 0630P

Alba Mineral Resources PLC

08 October 2019

Alba Mineral Resources plc

("Alba" or the "Company")

HH-2/2z Drilling Update at Horse Hill Oil Field

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, is pleased to announce that it has received the following update from UK Oil & Gas Plc ("UKOG"), the majority owner of Horse Hill Developments Limited ("HHDL"), the operator of Horse Hill licences PEDL 137 and PEDL 246 in which Alba has an 11.765% interest:

• Following the completion of the 12¼" diameter hole section in its Horse Hill-2 ("HH-2") Portland pilot well, 9⅝" casing has been set and cemented into position from surface to 2,019 ft below rig floor. After setting and testing blow out preventers, expected to be completed today, the well will drill a short section of 8½" diameter hole down to the coring point, where three 60 ft cores are planned through the oil-bearing Portland reservoir. 

• Following the coring programme, designed primarily to acquire key technical data that will ensure the 1000m HH-2z horizontal section is correctly positioned within the Portland's most oil-productive zone, the well will drill ahead to total depth, be electric logged and then plugged back to the "kick-off" point, delineating the start of HH-2z's planned 1000m horizontal trajectory. HH-2z will follow directly afterwards.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 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	+44 20 3907 4297
Cairn Financial Advisers LLP (Nomad)      James Caithie / Liam Murray	+44 20 7213 0880
First Equity Limited (Broker) Jason Robertson	+44 20 7374 2212
Yellow Jersey PR (Financial PR/ IR) Sarah Hollins / Harriet Jackson / Henry Wilkinson	+44 20 3004 9512 alba@yellowjerseypr.com

Alba Project & 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%

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DRLLFFVFIALDIIA