Horse Hill Update

RNS Number : 4262E
Alba Mineral Resources PLC
05 November 2020
 

Alba Mineral Resources plc

 

("Alba" or the "Company")

 

Horse Hill Update

 

Alba Mineral Resources plc (AIM: ALBA) announces that it has been informed by UK Oil & Gas Plc, as majority shareholder of Horse Hill Developments Limited, the Operator of the Horse Hill Oil Project in the Weald Basin in southern England, that the surface-based intervention operations at the Horse Hill-1("HH-1") well have been completed and the well has now been shut in for a pressure build-up test ("PBU") to evaluate whether the Portland reperforation programme has achieved the desired optimisation.

 

Alba has an 11.765% effective interest in the Horse Hill Oil Project, comprising licences PEDL137 and PEDL246.  

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events. 

 

Without prejudice to the generality of the foregoing, uncertainties also exist in connection with the ongoing Coronavirus (COVID-19) pandemic which may result in further lockdown measures and restrictions being imposed by Governments and other competent regulatory bodies and agencies from time to time in response to the pandemic, which measures and restrictions may prevent or inhibit the Company from executing its work activities according to the timelines set out in this announcement or indeed from executing its work activities at all. The Coronavirus (COVID-19) pandemic may also affect the Company's ability to execute its work activities due to personnel and contractors testing positive for COVID-19 or otherwise being required to self-isolate from time to time.

 

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

 

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

 

 

 

ETX Capital (Broker)

Thomas Smith

+44 20 7392 1494

 

 

 

 

 

 

Alba's Project and 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%

 

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