Alba Mineral Resources PLC Brockham Update (4096U)

TIDMALBA

RNS Number : 4096U

Alba Mineral Resources PLC

18 January 2017

18 January 2017

Alba Mineral Resources plc

("Alba" or the "Company")

Brockham oil field: Update

Alba is pleased to announce that it has been advised by the operator, Angus Energy Plc ("Angus") that, further to the 15 December 2016 announcement, site upgrade works to the production bunds are now complete and well intervention continues on site at the Brockham oil field ("Brockham"), in which Alba is earning a 5 per cent interest. Accordingly, Angus has informed us that they anticipate the re-entry of the original Brockham-X1 well being completed within the week with the work to complete and case the well taking 2 to 3 days thereafter. We will update the market once we are informed that the well is complete and we then intend to make a further announcement once the results of the geological evaluation assessment have been fully evaluated, which is expected to be three weeks thereafter.

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                [phone] 
 Cairn Financial Advisers 
  LLP 
  James Caithie / Liam Murray      [phone] 
 Dowgate Capital Stockbrokers 
  Limited 
  Jason Robertson / Neil 
  Badger                           [phone] 
 

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

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January 18, 2017 02:00 ET (07:00 GMT)