TIDMALBA
RNS Number : 9137O
Alba Mineral Resources PLC
04 February 2019
Alba Mineral Resources plc
("Alba" or "the Company")
Brockham BRX4Z Well Test Update
Alba Mineral Resources plc (AIM: Alba), the diversified mineral
exploration and development company, announces that Angus Energy
Plc, the operator of the Brockham Oil Field under Production
Licence ("PL") 235 (the "Operator"), has provided the following
update regarding well testing of the Brockham X4Z well:
-- The BRX4Z well has been perforated from 960 metres to 1155
metres measured depth, an interval of 195 metres.
-- All stimulation fluids in the wellbore and lost to the
reservoir have now been recovered. In total 280 barrels have been
produced. The well flowed naturally to surface upon the removal of
the completion and clean up fluids with flow rates rising steadily
as the test continued.
-- It has become apparent that a part of the perforated interval
is producing water, which is inhibiting significant oil flow and
therefore has not allowed for sustainable flow rates of oil to be
reported at this time.
-- Small quantities of oil of 40 plus API have been produced to
surface and sampled in the returns and have been confirmed through
analysis as Kimmeridge oil.
-- The Operator is now putting together a further engineering
programme to isolate this water zone which will, subject to
agreement from all regulators and partners, include the return of a
work over rig.
-- Extensive geochemical analysis and modelling of the Weald
Basin conducted by and on behalf of the Operator, including
innovative work on the effects of organic content on measurements
of historical temperatures, indicates that the Kimmeridge is mature
enough to produce oil over an area which includes Brockham.
The Operator has also provided the following additional
technical information:
-- The average Tmax for the interval perforated was 424.5 C with
an average HI of 537. Taking this data in combination with the
natural fracturing observed on the image log, this interval was
identified as the best prospective interval to perforate.
-- The objective was to initiate instant flow by perforating
with a maximum underbalance of pressure between the reservoir and
the well. During operations, several key completion components
failed which led to delays over the December and early January
periods. These items have not been re-installed but rather
engineering work-arounds have been implemented, including a resort
to lifting by injection of N2.
Alba owns a direct 5 per cent interest in PL 235.
George Frangeskides, Alba's Chairman, commented: "Confirmation
from Angus Energy that the well has flowed naturally and that oil
has been produced to surface are clear positives arising out of the
recent test programme at Brockham. We look forward to further
proposals from Angus in respect of tackling the water influx which
they report as having inhibited oil flow, so that we can more
readily evaluate the full potential of the Kimmeridge limestones at
Brockham."
Glossary
degAPI a measure of the density of crude oil, as defined
by the American Petroleum Institute
flow test or a flow test or well test involves testing a well
well test by flowing hydrocarbons to surface, typically
through a test separator. Key measured parameters
are oil and gas flow rates, downhole pressure
and surface pressure. The overall objective is
to identify the well's capacity to produce hydrocarbons
at a commercial flow rate.
---------------------------------------------------------
HI Hydrogen index
---------------------------------------------------------
N2 Nitrogen
---------------------------------------------------------
oil field an accumulation, pool or group of pools of oil
in the subsurface that produces oil to surface.
---------------------------------------------------------
Tmax the temperature at which the maximum rate of hydrocarbon
generation occurs in a kerogen sample during pyrolysis
analysis
---------------------------------------------------------
TOC Total Organic Carbon
---------------------------------------------------------
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 7264 4366
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
alba@yellowjerseypr.com
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 2017/40 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 mineral exploration licence 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 mineral exploration licences 2017/29 and 2017/39 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 a 18.1 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 covering a
total area of 142.9 km(2)) in the UK Weald Basin.
Web: www.albamineralresources.com
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END
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