Alba Mineral Resources Share Discussion Threads

[temmujin] 17/5/2017 21:01

naked shorts closing...beaufort?

[nevgroom] 16/5/2017 11:59

Thanks to the last 3 posts I am in for some more - Makes good, clear sense

[frjdnverijtnhj8568934] 16/5/2017 07:34

I recall moneymunch boasting that UKOG would never fall below 2p. Oh well.

If UKOG are getting a placing away at only 0.8p then at what price will alba raise funds? An unpleasant position for shareholders to be in now. The management should have nipped this issue in the bud by now. Alba cash flow negative with substantial funding requirements for Horsehill and Greenland. GLA.

[brwo349] 15/5/2017 21:47

Even in the Snakefields of Greece I keep on breaking news! On 9th May I revealed that UK Oil & Gas (UKOG) was endeavouring to raise £6 million at 1p - with the shares then trading at 1.2p bid. That forced an angry admission from the company that it was all true. Another scalp and fine piece of investigative journalism saw the shares then tumble to 1p. For long suffering holders and believers in Horse Hill, I have more bad news.

My City source tells me that in a desperate attempt to get this placing away UK Oil & Gas and its pompous boss "little Steve" Sanderson has now been forced to slash the offer price to just 0.8p. For those buying into the pre-raise ramp at up to 1.25p less than a week ago that will be one hell of a one week rogering.

With the shares at 0.9-1p there is clearly no need to buy in the market. Indeed if you are a holder you might as well offload your confetti now and call Lagos Securities on 0131 220 6939 and ask for Nick Tulloch offering to help out at 0.8p as the broker is clearly struggling to get the offer away even at this level. - See more at: hxxp://www.shareprophets.com/views/29076/breaking-uk-oil-gas-slashes-6-million-placing-price-to-08p-source#sthash.F2GXMTyp.dpuf

[thehitman1] 15/5/2017 20:18

watch out for a placing!!!.

[moneymunch] 13/5/2017 07:10

David Lenigas‏ @DavidLenigas 4m4 minutes ago

Almost time to get the Brockham oil show on the road and make a big impact on the UK oil scene. First Kimmeridge oil!

[moneymunch] 12/5/2017 13:07

Paul Vonk still expecting Brockham's production Spring/Summer......OGA approval coming soon....Significant upside very likely on confirmation. Gla holders ;-)

[moneymunch] 12/5/2017 13:04

Latest Angus CEO interview

[moneymunch] 12/5/2017 09:52

Transformational upside potential ahead.....significant upside on OGA approval.....and the prospect of lots of oil. Gl :-)


-- The preliminary results from the Brockham X4Z well confirm very similar thickness of reservoir and properties to those reported at Horse Hill. The gross thickness of the Kimmeridge formation in Brockham X4Z is some 385m.

-- The two limestone intervals (each around 30m) tested in Horse Hill are also seen in the Brockham well.

-- The reservoir properties appear to be very similar to Horse Hill, based on electrical logging evidence.

-- The first use in Europe of the Weatherford Ultra Wave Acoustic borehole imaging tool has made it possible to see fractures in the borehole directly, without the need to infer fractures from logs. The information thereby obtained has confirmed not only evidence of natural fractures in the two main limestones intervals previously tested at Horse Hill, but also confirmed abundant natural fractures in sections of interbedded shales and limestones between and below the two main limestones. Around 200m of the reservoir has this potential.

-- Angus took many samples during the drilling to use for geochemical analysis. The initial results of this work show total organic content through the Kimmeridge section between 2-12%, exceeding Horse Hill in places. Furthermore, evidence shows that the highest organic content corresponds to the limestones and, in particular, the intervals in between the limestones which have natural fracturing. Whilst organic content is not the same as oil content, it is indicative of those sections where oil content will be highest. This supports the potential for some 200m of reservoir of interest. Actual oil content depends on the extent to which burial has resulted in pressures and temperatures sufficient to generate oil. Initial Tmax and Hydrogen Index readings correspond with Horse Hill data. Since oil was produced briefly at Horse Hill and as it is most likely that the oil in the Portland Sandstone in Brockham is sourced from the Kimmeridge, the evidence backs a similar oil content to Horse Hill.

-- Therefore, based on the evidence so far, Angus has confidence that the well will be similar to Horse Hill and, perhaps, given that the reservoir is potentially much thicker in zones not previously tested, the results could be even better. These results achieve everything short of production to prove the potential from this zone.

-- Operations are in hand to install new production facilities for the well and to prepare for production as soon as necessary OGA approval is in place. Production is targeted for spring/summer 2017. The Operator will shortly be meeting Surrey County Council to discuss the position in relation to the sidetrack and also to agree what further planning permissions are necessary in order to regularise the existing site cabins, fencing and associated structures.

-- Additional oil shows were observed in the Portland and Corallian formations. Currently, the Brockham number 2 well is a temporarily suspended producing well from the Portland reservoir and the Operator is confident of additional production from the Portland from Brockham X4Z in due course. The Corallian formation, with good indications of both gas and oil, is still being evaluated.

[uxbridgearms] 11/5/2017 16:23

SCC, BBC and The Times......Fake News.

[moneymunch] 11/5/2017 14:05

Angus Energy shares surge as it advances regulatory process for Brockham development
Share
13:33 11 May 2017
Angus Energy has submitted a required addendum to the Oil & Gas Authority for the field development plan for the Brockham oil field.
onshore oil and gas drilling operation
Angus shares were up 1.86p or 20.69% changing hands at 10.86p each.
Angus Energy Plc (LON:ANGS) shares jumped almost 25% on Thursday after it confirmed that it had submitted a required addendum to the field development plan for the Brockham oil field in the south of England.

The company noted that, in addition to the standard health and safety executive (HSE), the Oil & Gas Authority (OGA) approval would be the sole regulatory approval required to produce hydrocarbons from the Kimmeridge play at Brockham.

Angus also provided comments on what it described as “unwarranted and groundless speculation” created by some press reports pertaining to the recently drilled BR-X4Z sidetrack, and said it had sought legal confirmation of its planning permission.

“The company has taken the precaution of obtaining additional legal review from Queen's Counsel,” Angus said in the statement.

“Queen's Counsel has confirmed her considered view that well BR-X4 (the donor well of the X4Z sidetrack, also known as well no. 3) has planning permission until 2036.

“Similarly, the QC confirms that the sidetrack to Well BR-X4, drilled in January 2017, is authorised by the 2006 planning permission.”

Angus provided extensive details about matters that may have been potential causes for confusion, and noted that there had been misunderstandings regarding the renumbering of wells.

Paul Vonk, Angus managing director, said: "It is regrettable that some confusion did arise from the discrepancy in well numbering, however Angus have drilled the Brockham-X4Z well in a fully authorised manner under the planning permissions already granted and in existance and with full approvals necessary by the relevant governing authorities.

“Angus Energy dutifully operates under strict supervision from all our regulators.

“During this entire matter, Angus Energy did just that, within both the spirit and letter of the law.

“Our operations will always be performed using best practices for oil field safety and the environment. This is the ethos of Angus Energy.”

“We very much look forward to starting oil production at Brockham from the Kimmeridge layers for the first time in the Weald Basin. This is an exciting chapter for the Company in the long history of onshore UK oil production."

[temmujin] 11/5/2017 12:10

MMs slow..or just typically thick..eton educated j boys

[temmujin] 11/5/2017 11:33

Angus Energy PLC Brockham Oil Field FDP Addendum submitted

11/05/2017 11:00am
UK Regulatory (RNS & others)

Angus Energy (LSE:ANGS)
Intraday Stock Chart
Today : Thursday 11 May 2017


TIDMANGS TIDMANGB

RNS Number : 8621E

Angus Energy PLC

11 May 2017

11.00am 11 May 2017

Angus Energy plc

("Angus Energy", "Angus" or the "Company")

FDP Addendum submitted to start production from Brockham X4Z Kimmeridge layers

Angus Energy is pleased to announce that following consultation with the UK's Oil & Gas Authority (OGA) it has submitted the required Field Development Plan (FDP) Addendum to commence production from the Kimmeridge layers at its Brockham Oil Field, Production License 235. In addition to the standard HSE consent for any well operations, the FDP Addendum approval from the OGA is the sole regulatory approval required to produce hydrocarbons from the Kimmeridge layers in addition to the existing Portland production. The Company will update investors once the OGA approve the FDP Addendum.

Following the Company's RNS dated 10 March 2017, Angus Energy's guidance from 10 March 2017 is unchanged.

The various press reports have created unwarranted and groundless speculation pertaining to the BR-X4Z sidetrack, the legal status of said sidetrack and the future of production from the Brockham Oil Field. For the avoidance of any doubt following the erroneous reports, the Company has taken the precaution of obtaining additional legal review from Queen's Counsel.

Queen's Counsel (the "QC") has confirmed her considered view that well BR-X4 (the donor well of the X4Z sidetrack, also known as well no. 3) has planning permission until 2036. Similarly, the QC confirms that the sidetrack to Well BR-X4, drilled in January 2017, is authorised by the 2006 planning permission.

With the review completed, we highlight below the potential cause for any perceived misunderstanding. Although not material in its own right, a mismatch of well numbering in prior administrative paperwork provided to Angus Energy appears to have allowed some confusion to arise as to the actual operations at the Brockham Oil Field.

Key Facts:

-- As stated in the Company's admission document to the AIM, it was the objective to drill a sidetrack from the BR-X4 well to ensure the continued use and production from the Portland reservoir and assess the hydrocarbon production potential from the Kimmeridge layers and Corallian section.

-- During the preparation phase of the drilling operation, the Company detected that the surface infrastructure of the BR-X4 well did not match its expected subsurface composition but instead, based on the documentation available to the Company, appeared to be the original Brockham-X1 well. Angus Energy acquired the Brockham Oil Field in 2012 and had not re-entered either the BR-X4 or Brockham-X1 well before commencement of these operations, so this was the first time this apparent mismatch in surface and subsurface composition had come to light.

-- In addition to necessary maintenance, re-entry of the original Brockham-X1 well also allowed for the proper assessment of the layers of interest.

-- The Brockham site had the benefit of existing planning permissions granted by Surrey County Council (SCC) and the required approvals from the EA, HSE and OGA for the maintenance work, re-entry and/or planned sidetrack, therefore the subsurface assessment continued. The re-entry with Measurement While Drilling (MWD) tools confirmed that the well that had been entered was indeed BR-X4 rather than Brockham-X1.

-- Best practices for operational safety dictated that only when operations were finished and the well was safely cased off could the Company determine the root cause of the well numbering confusion. Angus Energy determined that the mismatch was caused by an undocumented, non-standard, spool piece which was installed by the previous owners of the field and resulted in the 'mislabelling' of the well head.

-- No matter the determination by the Company, whether it was a re-entry of Brockham-X1 or a sidetrack of BR-X4, either operation was fully permitted within the Company's regulatory approvals from the relevant authorities. It should be noted, that a sidetrack is a component of a drilled well. It is not a well and cannot be created or exist independent of the actual well.

-- Angus Energy has been transparent throughout its operations. As such, it apprised the SCC of the documentation discrepancy as discovered during the January operations.

-- Prior to the confusion over well numbering, in December 2016, the County Council gave advice that any new well was not to be drilled into 'any different geological formations or to a deeper depth or into any undrilled area than already drilled to"'. The geological area of interest was already drilled and defined by our existing permits for the wells and their inclusive sidetracks. Taken in the context of our actual communications, this letter is unrelated to our operations in January.

For reference, the original Brockham-X1 well was drilled by BP to a total depth of 2,070m Total Vertical Depth (TVD) while the X4Z sidetrack only reached a depth of 1,391m TVD. Well within the constraints of the existing geological envelope of operations.

-- Despite the misleading press reports, no new well was drilled nor were any operations conducted into any different geological formations, at a deeper depth or in any undrilled area.

Upon OGA approval the Company plans to put this well into production as soon as possible.

Paul Vonk, Angus Energy's Managing Director commented:

"It is regrettable that some confusion did arise from the discrepancy in well numbering, however Angus have drilled the Brockham-X4Z well in a fully authorised manner under the planning permissions already granted and in existance and with full approvals necessary by the relevant governing authorities. Angus Energy dutifully operates under strict supervision from all our regulators. During this entire matter, Angus Energy did just that, within both the spirit and letter of the law. Our operations will always be performed using best practices for oil field safety and the environment. This is the ethos of Angus Energy.

We very much look forward to starting oil production at Brockham from the Kimmeridge layers for the first time in the Weald Basin. This is an exciting chapter for the Company in the long history of onshore UK oil production."

[temmujin] 11/5/2017 11:29

BOOM TIME! FOR ANGUS AND ALBA

[moneymunch] 11/5/2017 11:25

RNS Number : 8649E

Alba Mineral Resources PLC

11 May 2017

Alba Mineral Resources plc

("Alba" or the "Company")

FDP Addendum submitted to commence production

from Brockham X4Z Kimmeridge layers

The Company is pleased to announce that it has been advised the Operator, Angus Energy plc ("Angus Energy" or the "Operator"), that, following consultation with the UK's Oil & Gas Authority (OGA), it has submitted the required Field Development Plan (FDP) Addendum to commence production from the Kimmeridge layers at its Brockham Oil Field, Production Licence 235. In addition to the standard HSE consent for any well operations, Angus Energy advises that the FDP Addendum approval from the OGA is the sole regulatory approval required to produce hydrocarbons from the Kimmeridge layers in addition to the existing Portland production.

The Company will update investors once it is informed that the OGA has approved the FDP Addendum.

In addition, the Company has also been advised by the Operator of the following additional information and updates pertaining to the planning-related matters referred to in the Company's announcement on 10 March 2017:

-- Following Angus Energy's RNS dated 10 March 2017, Angus Energy's guidance from 10 March 2017 is unchanged.

-- Following various press reports and speculation pertaining to the BR-X4Z sidetrack, the legal status of said sidetrack and the future of production from the Brockham Oil Field, for the avoidance of any doubt Angus Energy has taken the precaution of obtaining additional legal review from Queen's Counsel.

-- Queen's Counsel (the "QC") has confirmed her considered view that well BR-X4 (the donor well of the X4Z sidetrack, also known as well no. 3) has planning permission until 2036. Similarly, the QC confirms that the sidetrack to Well BR-X4, drilled in January 2017, is authorised by the 2006 planning permission.

-- With the review completed, Angus Energy highlights below the potential cause for any perceived misunderstanding. Although not material in its own right, a mismatch of well numbering in prior administrative paperwork provided to Angus Energy appears to have allowed some confusion to arise as to the actual operations at the Brockham Oil Field. The key points highlighted by Angus Energy are as follows:

-- As stated in Angus Energy's admission document to AIM, it was the objective to drill a sidetrack from the BR-X4 well to ensure the continued use and production from the Portland reservoir and assess the hydrocarbon production potential from the Kimmeridge layers and Corallian section.

-- During the preparation phase of the drilling operation, Angus Energy detected that the surface infrastructure of the BR-X4 well did not match its expected subsurface composition but instead, based on the documentation available to Angus Energy, appeared to be the original Brockham-X1 well. Angus Energy acquired the Brockham Oil Field in 2012 and had not re-entered either the BR-X4 or Brockham-X1 well before commencement of these operations, so this was the first time this apparent mismatch in surface and subsurface composition had come to light.

-- In addition to necessary maintenance, re-entry of the original Brockham-X1 well also allowed for the proper assessment of the layers of interest.

-- The Brockham site had the benefit of existing planning permissions granted by Surrey County Council (SCC) and the required approvals from the EA, HSE and OGA for the maintenance work, re-entry and/or planned sidetrack, therefore the subsurface assessment continued. The re-entry with Measurement While Drilling (MWD) tools confirmed that the well that had been entered was indeed BR-X4 rather than Brockham-X1.

-- Best practice for operational safety dictated that only when operations were finished and the well was safely cased off could Angus Energy determine the root cause of the well numbering confusion. Angus Energy determined that the mismatch was caused by an undocumented, non-standard, spool piece which was installed by the previous owners of the field and resulted in the 'mislabelling' of the well head.

-- No matter the determination by Angus Energy, whether it was a re-entry of Brockham-X1 or a sidetrack of BR-X4, either operation was fully permitted within Angus Energy's regulatory approvals from the relevant authorities. It should be noted, that a sidetrack is a component of a drilled well. It is not a well and cannot be created or exist independent of the actual well.

-- Angus Energy has been transparent throughout its operations. As such, it apprised the SCC of the documentation discrepancy as discovered during the January operations.

-- Prior to the confusion over well numbering, in December 2016 the County Council gave advice that any new well was not to be drilled into 'any different geological formations or to a deeper depth or into any undrilled area than already drilled to"'. The geological area of interest was already drilled and defined by the existing permits for the wells and their inclusive sidetracks. Taken in the context of the actual communications, this letter is unrelated to the operations in January.

-- For reference, the original Brockham-X1 well was drilled by BP to a total depth of 2,070m Total Vertical Depth (TVD) while the X4Z sidetrack only reached a depth of 1,391m TVD. Well within the constraints of the existing geological envelope of operations.

-- Despite the misleading press reports, no new well was drilled nor were any operations conducted into any different geological formations, at a deeper depth or in any undrilled area.


-- Upon OGA approval, Angus Energy plans to put this well into production as soon as possible.
Michael Nott, Alba's CEO, commented:

"We are very pleased to report that the Field Development Plan (FDP) Addendum has now submitted to the OGA to commence production from the Kimmeridge layers at the Brockham Oil Field. We await further updates from the Operator, Angus Energy, with great interest."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

[nevgroom] 11/5/2017 11:25

Double Boom!! (I just like the thought of posting #2401)

[blueblood] 11/5/2017 11:22

ANGS RNS all systems go at Brockham = BOOM!!!

[moneymunch] 11/5/2017 11:15

Brent now at $51 plus.....OGA approval coming..Tick Tock Tick Boom!!! Gla :-)

[moneymunch] 11/5/2017 10:20

Tying up loose ends, Alba have already paid their share of drilling costs and following today's formal completion are now obliged for 10% of any cash calls for Brockham's production/tests.....which suggests that OGA approval for Brockham's completion/ production must be very close.....exactly what the market and city are waiting for....and so significant upside on confirmation. Gl :-)

[mikeygit] 11/5/2017 09:17

Good news, maybe--but judging by this morning sp--no movement--the City is not impressed enough!! But hey ho, all of invested in ANY of The Weald companies should do well in the end. Just more patience and do not jump ship like so many did on UKOG Placing Statement!! Not genuine investors.

[moneymunch] 11/5/2017 08:11

OGA Formal Completion, prior to OGA Approval for Brockham's Completion. Gla ;-)

7/11/16

4.3.4. pursuant to an agreement dated 23 October 2015, further details of which are set out in paragraph 13.13.5 of Part VII of this document, the Angus Group granted Alba an option tofarm in to 5 per cent of the Brockham Licence, on a “two for one promote” basis, meaning that Alba’s exercise of such option would be on the basis that, to acquire the 5 per cent interest in the Brockham Licence from AWB3, it would be required to subsequently fund 10 per cent of the costs of the new Brockham well, from spudding to first oil.

On 9 August 2016 Alba exercised such option and the parties have agreed that Alba’s obligation to contribute on the basis set out above to the cost of the new Brockham well in respect of the period from spudding to first oil is capped, for all dry hole costs, at a maximum of £187,125, plus a maximum of a further 10 per cent of any AFE to be issued and cash called for the production/well testing of the new Brockham well.

Following completion of such payments,Alba’s financial obligations will revert to follow its prorata participating interest. As referred to in paragraph 3 of Part I, as at 4 November 2016, being the latest practicable date prior to the publication of this document, the farm-out has not completed and accordingly Alba’s funding obligations are not currently in force, although under the farm-out agreement dated
14 September 2016 Alba has elected to be bound by its financial commitments immediately on the basis that AWB3 holds the 5 per cent. participating interest on trust for Alba pending formal completion.

[moneymunch] 11/5/2017 07:05

RNS

Alba Mineral Resources completes acquisition of 5% interest in Brockham Licence

Angus Energy plc. (the "Group") notes the announcement released by Alba Mineral Resources plc ("Alba") this morning:

'The Company is pleased to announce that, pursuant to the terms of the Farm-Out Agreement between Alba and Angus Energy Weald Basin No 3 Limited ("Angus"), and following receipt of the consent of the Oil and Gas Authority ("OGA"), the Brockham partners have now completed the assignment from Angus to Alba of a 5 per cent participating interest in Production Licence (PL) 235 comprising the Brockham Oil Field. Alba is now therefore a licensee under PL 235.'

Accordingly this formalises the 5% interest of Alba in PL235 that Angus Energy was holding in a trust arrangement as referred to in the Angus Energy AIM Admission document.