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Horse Hill Update

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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

[email protected]

 

 

 

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