Alba Mineral Resources PLC Brockham Oil Field Update (9459R)
December 15 2016 - 4:40AM
UK Regulatory
TIDMALBA
RNS Number : 9459R
Alba Mineral Resources PLC
15 December 2016
15 December 2016
Alba Mineral Resources plc
("Alba" or the "Company")
Brockham Oil Field Update
Mobilisation of Rig and Commencement of Operations
Alba is pleased to announce that it has been advised by the
operator, Angus Energy Plc ("Angus"), that work has now commenced
at the Brockham Oil Field ("Brockham"), in which Alba is earning a
5 per cent interest. Brockham is located near Gatwick Airport and
is only a few miles from Alba's other UK onshore oil and gas
interests at Horse Hill.
Angus has advised that it has today received the final approvals
required from the UK Government Oil and Gas Authority ("OGA") and
Health and Safety Executive ("HSE") to commence work on the BR-X4Z
well on UK onshore Production Licence PL 235.
Consequently, Alba is advised that the rig is now on site and
has commenced work, as per the approved programme, to abandon the
required redundant wells in the upper Portland formation and
re-enter the original Brockham-X1 well drilled by BP in 1987 down
through the Portland, Kimmeridge, Corallian and into the much
deeper Great Oolite formations. The Company understands that all
the original BP wells at Brockham that passed through the
Kimmeridge and Corallian formations were drilled without properly
assessing their hydrocarbon potential.
George Frangeskides, Executive Chairman of Alba, commented:
"We are very pleased that Angus have now obtained the required
approvals from the UK authorities and have already started on this
potentially very significant work at Brockham. Alba looks forward
to reporting the results in due course."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Alba Mineral Resources
plc
Michael Nott, CEO +44 20 7264 4366
Cairn Financial Advisers
LLP
James Caithie / Liam Murray +44 20 7213 0880
Dowgate Capital Stockbrokers
Limited
Jason Robertson / Neil
Badger +44 1293 517744
About Alba
Alba holds a 15 per cent interest in Horse Hill Developments
Limited, the company which has a 65 per cent participating interest
and operatorship of the Horse Hill oil and gas project (licences
PEDL 137 and PEDL 246) in the UK Weald Basin. Alba is also earning
a 5% interest in Production Licence 235, which comprises the
producing onshore Brockham Oil Field.
Alba has earned the right to a 49 per cent interest in the
Amitsoq Graphite Project in Southern Greenland and has agreed to
acquire a further 41 per cent interest in the Project, subject to
Greenlandic regulatory approvals.
In addition, the Company has recently renewed its Limerick base
metal licence in the Republic of Ireland, and has applied for the
reissue of a uranium permit in northern Mauritania. The new
Mauritanian permit will be on a reduced area, and is centred on
known uranium-bearing showings.
Alba continues actively to review and discuss numerous other
project opportunities which have value-enhancing potential for the
Company whether by acquisition, farm in or joint venture in a range
of jurisdictions around the world.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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