Alba Mineral Resources Share Discussion Threads

[thehitman1] 31/7/2017 21:07

We shall do well tomorrow, 1p nailed on.

[cudmore] 31/7/2017 20:33

Well done to all those who have been patient and held despite the 100% profit already made. You have to feel for those who have sold over the past few days though.......LOL!!!

[cudmore] 31/7/2017 20:30

Reckon this could double tomorrow......get in early me thinks!!!

[tmmalik] 31/7/2017 20:14

Ukog going to start flow test in few daysAlba is still undervalued so if good result from ukog in next 2 weeks share price can easily move to 2pSo 2 weeks waiting time and I think I will get better return from Alba than UKOG I have equal investment in both ukog n Alba and little in Prim n DOR as well

[graylyn1] 31/7/2017 19:54

VERY INTERESTING.......

Brockham

Alba is earning a 5% interest in Production Licence 235 (“PL 235”), which comprises the producing onshore Brockham Oil Field, which is located just to the north-west of the Horse Hill licences. 

The Brockham Oil Field is located on licence PL235 in the Weald Basin in Surrey, southern England. The field was discovered by BP in 1987 with the drilling of the Brockham-X1 well. The field was in production until early 2016, and had average daily production of approximately 35 bopd from the Brockham-X2Y production well. 
In March 2017 Alba was advised by the Operator, Angus Energy plc (“Angus” or the “Operator̶1;), that, following extensive analysis of the BR-X4Z sidetrack well, the Operator’s intention is to bring the Kimmeridge into production at the existing Brockham production facility as soon as the necessary OGA approval is in place.

The Brockham X4Z well, drilled in Q1 2017 to a total depth of 1,391m, was planned to evaluate the Portland, Corallian and Kimmeridge formations at Brockham, including an evaluation of the Kimmeridge reservoir that had been demonstrated by the Horse Hill discovery 8 km to the South.  Horse Hill Developments Limited (“HHDL”), the operator of the well at Horse Hill, in which project Alba has a 9.75% economic interest, has announced cumulative production rates of over 1,500 barrels per day in short term testing.

The Brockham X4Z well was intended to establish whether the evidence of a potential reservoir reported at Horse Hill extended further north into the Brockham licence. The well was therefore intended to answer three main questions: Is the reservoir section in Brockham similar in thickness and reservoir properties to what had been reported at Horse Hill?  Is there evidence of naturally occurring fractures to enable production of oil using conventional means?  Is the content of oil in the Kimmeridge similar to Horse Hill where oil was tested at substantial rates?

Angus has confirmed as follows:
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. 
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.
Further technical analysis of the results is contained in a presentation prepared by Angus, a copy of which is available on the Angus website (www.angusenergy.co.uk).

EDIT: so with a mkt cap of under £9m ALBA has really exciting prospects imo. dyor.

[thehitman1] 31/7/2017 19:29

I will be happy with 1p tomorrow.

[graylyn1] 31/7/2017 18:53

could this start to rise now?? that would be nice:-

[mpclag] 31/7/2017 18:38

As we all knew-massive oil play. Shame ALba only have 10%. OO whats the market cap? LOL this will rocket once again-7p here we come

[garykc] 31/7/2017 18:33

RNS out over at UKOG. Operational update stuff.................

[cudmore] 31/7/2017 13:13

Can't believe there are sellers when these are primed to take off on any positive news that UKOG reports. If I had any spare dish I'd still buy them at today's price for a certain double your money at least. Remember a broker is saying these should be valued at 1p at the moment with 12 month target of 7p!! All imho of course.

[falia] 31/7/2017 11:07

prim about to take off

[graylyn1] 31/7/2017 10:52

Looking better now, going in the right direction lol

[falia] 31/7/2017 10:35

0.5p coming up

[falia] 31/7/2017 10:14

asking premiums

[falia] 31/7/2017 10:10

going blue

[falia] 31/7/2017 10:06

ukog flying

[graylyn1] 30/7/2017 21:06

Master Investor Show March 2017, Interview with Alba Chairman

[graylyn1] 30/7/2017 15:04

ALBA MINERAL RESOURCES PLC (ALBA.L)*
8 JUNE 2017


Over the past nine months investor interest in UK onshore oil exploration companies has focused on activities at Brockham, where Alba Mineral Resources (ALBA.L) has a 5% licence stake. Attention is likely to switch back to the adjacent and much larger Horse Hill licences, which the media colourfully referred to as the ‘Gatwick Gusher’, after last year’s production tests. A decision by the local council’s planning committee on whether to approve longer term production tests should be known next month, which could then lead to test operations starting later this year, with the objective of moving into production at the end of next year. Alba is well placed as the second largest AIM listed stakeholder in Horse Hill and only listed company with holdings in both Horse Hill and Brockham.

Along with its oil project interests, Alba is making encouraging progress on its 90% owned Amitsoq graphite project where recent results confirmed very high-grade graphite content, which is amongst the highest (at around 25%) of any project in the world. Further exploration work this Summer should improve our understanding of the project and allow us to assess the likelihood of it being fast-tracked towards resource definition and economic development.

Key Anticipated Near Term News-Flow • July Decision Awaited from Surrey County Council on long-term production tests at Horse Hill. • 2018 Horse Hill Production – Production from both Kimmeridge and Portland pay zones at Horse Hill could commence at end of 2018, subject to finance and necessary approvals. • Brockham response – Decision awaited from the UK Oil & Gas Authority for field development plan addendum to commence production from Kimmeridge. • Summer exploration at Amitsoq - Work in June/July on main graphite targets especially around the former mine, along with gold and PGE anomalies.

Valuation Rationale
To determine an estimated value for Alba’s oil project assets we continue to use a risked value for each potential oil barrel discovered based upon independent published technical data from Schlumberger, Xodus and Nutech.

On a ‘Base Case’ scenario, we estimate a value net to Alba of $143.2m (prev. $333.6m) for its Horse Hill licences and net $25.3m (prev. $27.8m) for Brockham. The reduced Horse Hill value is mostly due to a lower discovery value per oil barrel assumption, because of higher production costs estimates at $21 p/b (prev. $10 to $20 p/b). Our recovery rate estimates are reduced, which is largely a function of identifying and securing permission for suitable well pad locations across the licence areas. Despite Brockham’s production licence status and recent side-track well results, we value the Horse Hill licences at 2.7x that of Brockham on a peer-to-peer comparison due to the much larger size of Horse Hill’s licence acreage and production potential of the vast underlying oil rich Kimmeridge zone.

Alba’s other projects are valued at cost, amounting to $0.8m in total. Further work and positive exploration data from Amitsoq this Summer, may allow us to apply a value to this emerging project asset that holds potential of being a company maker for Alba. We estimate a ‘Base Case’ value of $169.8m (£131.6m), which amounts to 7.0p per share (prev. 14.7p) and forms our 18-month price target, by which time production could be underway at both Horse Hill and Brockham. Our shorter term (6-month) price target of 1.1p is derived from an ultra-prudent ‘Low Case’ valuation estimate of $26.7m. With such a compelling investment thesis and 18-month price target substantially higher (over 30 times) than the current share price, along with a short-term horizon price target 4x the share price, we continue to recommend Alba Mineral Resources as a ‘Buy’. We also believe the shares may rally ahead of the July planning decision being announced from Horse Hill, approval of field development plan addendum at Brockham and exploration results later in Summer from Amitsoq.

[pauliewonder] 30/7/2017 11:56

Long term value is fantastic. Dowgate report says even current value should be over 1p.

[cudmore] 30/7/2017 10:45

7p target..........I'll just hold on to my holdings for now then and ride the ups and downs.

[graylyn1] 29/7/2017 20:07

Any new or potential investors for ALBA here is a Broker note from JUNE 8th THIS YEAR, gives a good idea of what we have.............

[seagullsslimjim] 29/7/2017 10:12

says the man who thinks a 1 share trade is a code and not a muppet who bought when doing a dummy trade to see the live price

Priceless how some people are so naïve at investing but they are the easy ones to make money off.

Each to their own !

[temmujin] 29/7/2017 09:39

i'm topping up monday..not just brockham we have but loads of graphite high quality thats far rarer than lithium and needed in most batteries

[25wbh] 28/7/2017 20:12

Many thanks for that Graylin1

cudmore in here for the long ride, cheers