Alba Mineral Resources plc (LON:ALBA)

Alba Mineral Resources plc (LON:ALBA)


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Alba Mineral Resources plc RNS Release

Brockham Update


RNS Number : 6781Y
Alba Mineral Resources PLC
10 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, notes the announcement this morning by Angus Energy Plc, the operator of the Brockham Oil Field under Production Licence ("PL") 235 ("Angus" or the "Operator"), which states:

 

"Angus Energy is pleased to announce that the rig has now been demobilised.   Additionally, having set the plug, and function tested the downhole pump we believe that we have, as planned, successfully isolated the water zone without bringing hydrocarbons to surface.  This is in line with our timetable of works as published in RNS of 3 April 2019.

 

We will now analyse the results with our partners before proceeding to the next stage which would involve bringing on site full well testing equipment and commencing flow tests."

 

The Company awaits the Operator's advice as to the proposed next steps at Brockham.

 

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

 

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)

Tim Thompson / Harriet Jackson / Henry Wilkinson            +44 77 1071 8649

[email protected]

 

 

 

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


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 [email protected] or visit www.rns.com.
 
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