TIDMALBA
RNS Number : 1922R
Alba Mineral Resources PLC
26 February 2019
Alba Mineral Resources plc
("Alba" or "the Company")
Brockham 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 ("Angus" or the "Operator"), has provided the
following update regarding Brockham:
-- The long lead equipment to isolate the water zones at
Brockham has been sourced and is ready for shipping from the
USA.
-- The primary item of equipment, which would have taken over
three months to be manufactured, has now been sourced more
efficiently and cost effectively from another supplier.
-- Angus is currently considering the options for logging the
well in order to identify the water zones.
-- Angus shall immediately start rig selection and submit a
detailed engineering programme for approval by Angus's fellow
licensees on PL 235 and by all relevant regulators.
-- If so approved, the operation will be conducted in two
stages: firstly, identification and isolation of the water zones,
followed by the commencement of production testing.
Alba owns a direct 5 per cent interest in PL 235.
George Frangeskides, Alba's Executive Chairman, commented: "It
is good to hear that Angus Energy is advancing plans at pace to
tackle the water influx at Brockham. We look forward to reporting
on further details in due course."
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 ("MEL") 2017/40 and 2018/25 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 MEL 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 MEL 2017/29 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 an 11.765 per cent
effective interest in 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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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 rns@lseg.com or visit www.rns.com.
END
UPDCKADQABKDKBB
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