Alba Mineral Resources PLC Horse Hill Update (4266L)
May 13 2022 - 3:45AM
UK Regulatory
TIDMALBA
RNS Number : 4266L
Alba Mineral Resources PLC
13 May 2022
Alba Mineral Resources plc
("Alba" or the "Company")
Horse Hill Update
Alba Mineral Resources plc (AIM: ALBA) reports that UK Oil &
Gas Plc ("UKOG"), as majority shareholder of Horse Hill
Developments Limited (the Operator of the Horse Hill Oil Project in
the Weald Basin in southern England) (together the "Operator"), has
provided the following update in relation to the Horse Hill Oil
Project in which Alba owns an 11.765% effective interest:
UK Oil & Gas PLC
("UKOG" or the "Company")
One-year work programme extension on PEDL137 Horse Hill
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that the North Sea Transition Authority (formerly the Oil and Gas
Authority) has granted a one-year extension to the agreed Retention
Area work programme of the Company's operated PEDL137 licence (UKOG
85.635%) containing the producing Horse Hill oil field and its
underlying Kimmeridge oil pool.
The extension grants an additional year in which to drill a
second Horse Hill Kimmeridge well, with the commencement of
drilling to be prior to 30th September 2023.
ENDS
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
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. Actual results achieved may vary from the
information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors.
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.
For further information, please visit
www.albamineralresources.com or contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
SPARK Advisory Partners Limited (Nomad)
Andrew Emmott +44 20 3368 3555
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
St Brides Partners (Financial PR)
Isabel de Salis / Catherine Leftley alba@stbridespartners.co.uk
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
Clogau (gold) Wales 90%
----------- ----------
Dolgellau Gold Exploration
(gold) Wales 90-100%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Investments Held by Alba Location Ownership
----------- ----------
GreenRoc Mining Plc (mining) Greenland 54%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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END
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