logo-loader
viewAlba Mineral Resources PLC

Alba Mineral Resources looks forward to horizontal drilling as Horse Hill programme advances

The well's vertical pilot section is nearly complete and drilling will soon reach the 'kick-off point' before going sideways.

Alba Mineral Resources plc - Alba Mineral Resources looks forward to horizontal drilling as Horse Hill programme advances

Alba Mineral Resources plc (LON:ALBA) investors can look forward to horizontal drilling at the Horse Hill project, where the HH-2/2z well is now nearing the completion of the vertical pilot hole.

The company owns an 11.765% interest in Horse Hill Developments Limited, the project operator, and is one of two London listed stakeholders in the project.

In a statement, Alba reported that the pilot well had now been drilled, cased and cemented at around 2,019 feet. Blowout preventers will be set and tested today, before a short extension is drilled through the ‘coring point’ (where three cores will be taken from the oil bearing Portland reservoir for analysis).

READ: Alba’s diversified portfolio has serious production potential

Thereafter, the programme will advance toward the ‘kick off point’ from which horizontal drilling will begin. Some 1,000 metres of horizontal drilling is planned into what is expected to be the Portland’s most productive zone.

HH-2/2z is one of two planned horizontal wells that will aim to establish valuable production from the conventional Portland oil pool.

They are intended to be exposed to more of the Portland reservoir than the successful vertical Horse Hill well, which flowed close to 30,000 barrels of crude during extended well testing (the deeper Kimmeridge zones yielded a further 39,000 barrels).

The well is expected to flow at significantly higher production rates than the 362 barrels of oil per day measured whilst testing the vertical Portland section in the current Horse Hill well.

 

Quick facts: Alba Mineral Resources PLC

Price: 0.084 GBX

AIM:ALBA
Market: AIM
Market Cap: £3.48 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Animoca Brands' Yat Siu says business has grown during pandemic with record...

Animoca Brands Corporation Limited's Yat Siu speaks to Proactive's Andrew Scott after reporting that they achieved revenue of $10.5 million (unaudited) for the four months ended April 30 2020. He adds that business has grown during the pandemic, with record quarterly and monthly revenues over...

4 hours, 32 minutes ago

2 min read