Alba Mineral Resources plc (LON:ALBA)

Alba Mineral Resources plc (LON:ALBA)


Share Price
0.20 p
Change
0.008 (4.21 %)
Market Cap
£6.98 m
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Alba Mineral Resources plc RNS Release

Brockham Update


RNS Number : 8477A
Alba Mineral Resources PLC
03 June 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"), as follows:

 

"Angus Energy is pleased to announce that after consideration of the recent results of the Brockham work programme, preparatory operations for the second stage will commence in the week of 17th June 2019."

 

"The further preparatory work aims to ensure the borehole is in optimum condition for testing, and to give the best possible communication between the well and the fracture system in the formation. Once this has been completed then, subject to agreement of partners, well testing can commence to ascertain whether commercial hydrocarbon flows can be achieved from the BRX4Z well as envisaged per our timetable of 3 April."

 

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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