Alba Mineral Resources Share Discussion Threads

[moneymunch] 28/2/2017 07:21

"the overall stabilised flow rate from the two uppermost limestones (KL3 and KL4), which aggregated 1,365 bopd of 40 API gravity dry oil, were beyond our highest expectations. These rates undeniably proved that the limestones could produce at initial commercial rates.

No evidence of depletion was indicated from the test data analyses."

[moneymunch] 28/2/2017 07:20

Ukog Final Results

OPERATIONAL REVIEW AND OUTLOOK

Horse Hill

Onshore licences PEDL137 (99.3 km(2), net interest 31.2%) and PEDL246 (43.6 km(2), net interest 31.2%) contain the Horse Hill Portland and KL light oil discoveries. Long term production testing is planned for 2017, to be followed by two further appraisal/development wells in 2018.

Much of the Company's effort over the past year was focused on the highly successful well tests at HH-1, and numerous follow-up analyses. Although we had expected to encounter moveable light oil in the Kimmeridge, the overall stabilised flow rate from the two uppermost limestones (KL3 and KL4), which aggregated 1,365 bopd of 40 API gravity dry oil, were beyond our highest expectations. These rates undeniably proved that the limestones could produce at initial commercial rates. No evidence of depletion was indicated from the test data analyses.

We followed up the flow tests with the acquisition of Angus Energy's and Flowermay Limited's interests in the licences and the submission of an extensive planning application to undertake long-term production testing and drill further wells at Horse Hill. By agreement with Surrey County Council, the determination of the planning application will take place by the end of July following Surrey's May 4(th) local council elections. The timing is in line with our expectations to commence testing in 2017 and our future projected first-oil target. The testing will last for approximately six months.

The planned production tests are specifically designed to prove access to a commercial volume of oil in place ("OIP"). Consequently, we expect to be able to make a declaration of commerciality for the Kimmeridge and Portland following these test results.

Analysis of the HH flow test data clearly demonstrates that natural fracturing is the key parameter that enabled high natural flow rates. We have learnt a great deal about the origin and pattern of this natural fracture system and plan to collect core and image log data from our new wells to help further this understanding.

The HH-1 well test data also indicate that the fractures in KL3 and KL4 could be vertically connected. Consequently, we believe that the well may have connected to a much larger fractured-reservoir "tank" than the the two individual limestones tested. It is, therefore, possible that natural fractures within the shale may also have directly contributed to measured oil flow. This observation has important and positive implications for the quantity of oil that could be recovered from a Kimmeridge well. We will, of course, know more after the upcoming long-term tests.

Following the production tests, we plan to drill a further deviated KL wellbore, HH-1z, from the existing HH-1 wellbore, and then a new well, HH-2, designed to access the Portland in both the Horse Hill and Collendean Farm fault blocks. We may use the opportunity to drill a HH-2 pilot hole down through the Kimmeridge to take key core and image log data. These wells are designed to be completed as future permanent oil producers, with first oil planned towards the end of 2018, subject to the necessary regulatory approvals and field development consent.

We also note with interest that, after the period, the nearby Brockham field re-entry well, BR-X1z (UKOG indirect interest 1.41%) recorded oil and gas shows throughout the Kimmeridge section. The same observations were made throughout the Kimmeridge at HH-1.

Should the BR-X1z well encounter natural-fracturing and flow oil from the Kimmeridge at commercial rates, it will provide further support that the Horse Hill results can be replicated elsewhere, and that the Horse Hill oil deposit likely extends to the north across the 99.3 km(2) of PEDL137 to Brockham (PL235 8.9 km(2)). Furthermore, a good Kimmeridge result would have strong positive implications for our Holmwood well, only 8 km west of HH-1. UKOG, with its extensive 672 km(2) acreage holding in the Weald's "sweet-spot", is well-positioned to exploit this wider oil deposit.

The HH-1 Portland oil discovery's importance was further boosted by Xodus' report which determined that the P50 OIP had increased to 32 MMbbl, an increase of 53% from the 21 MMbbl reported prior to 2016 flow testing. Gross Contingent Resources rose to 1.5 MMbbl (0.5 MMbbl net to UKOG) with a further 1.7-6.6 MMbbl gross recoverable ( 0.5-2.1 MMbbl net UKOG) being possible via implementation of a water re-injection scheme.

Other Horse Hill-related Activity Highlights

-- Xodus' conceptual Weald Kimmeridge Limestone oil development study, pubished in October 2015, showed a low visual impact site could be achieved via wellheads and pumps below ground level. Controlled production could minimise HGV impact on local road infrastructure.

-- Nutech calculated a total Horse Hill licence Kimmeridge P50 OIP of 5,198 MMbbl, of which 960 MMbbl is contained in the KL2, KL3 and KL4 (October 2015).

-- EY's report, published in April 2016, assessed the potential impact of a Weald-wide KL oil production success case on the UK economy. The report concludes that KL oil production could provide up to 27% of future UK daily oil demand, a gross value-add to the UK economy of up to GBP53 billion and generate significant jobs.

-- The Oil and Gas Authority granted licence extensions to PEDL137 and PEDL246 via the creation of "Retention Areas" over the entirety of both licences.

[moneymunch] 27/2/2017 19:05

Further to the announcement of 20 February 2017, Alba Mineral Resources plc (AIM: ALBA) is pleased to announce that it has now completed the acquisition of a further 41% interest in exploration licence 2013/06, comprising the Amitsoq Graphite Project in Southern Greenland (the "Project") and now owns 90% of the Project.

Completion of the acquisition of this further interest was effected by the transfer of shares in the licence holder, Obsidian Mining Limited, for the balance of the purchase price owed, being £90,000, of which £50,000 will be settled by the issue to the vendor, Artemis Resources Limited, of 14,655,839 fully paid ordinary Alba shares, with the balance payable in cash.

Alba has now also taken over the existing put and call option over the 10 per cent free carried interest held by a minority shareholder in the Project. This will enable Alba to move in future to 100 per cent ownership of the Project.

[moneymunch] 26/2/2017 08:46

"will provide our answers in March"

and therefore a decision could come far earlier than the deadline imho...Gla holders......all eyes on Brockham!!! ;-)

Horse Hill “Gatwick Gusher” planning decision delayed until summer
By Ruth Hayhurst on February 24, 2017 • ( 6 Comments )

The decision on whether further testing and drilling should go ahead at the so-called Gatwick Gusher oil site at Horse Hill in Surrey has been put back until July 2017.

Officials at Surrey County Council have asked the company behind the plans, Horse Hill Developments Ltd, for more information.

A spokesperson for the council said:

“We have asked for more clarity on issues such as air quality, the landscape, road frontage and site boundaries.”

When the company has submitted the information, the council will announce a new public consultation, likely to last about three weeks.

The council and Horse Hill Developments Ltd (HHDL) have agreed on a new deadline of 31 July 2017 for the decision.

The planning application, published online in November 2016, includes proposals to:

Carry out extended well testing on the existing Horse Hill-1 well (HH-1)
Drill a sidetrack to HH-1
Drill a second deviated borehole and flow test it
Install security fencing to a larger area of land than the existing site
Install acoustic and light barriers, plant, cabins and equipment
Restore the site to agriculture and woodland

One of the major investors in the Horse Hill site is UK Oil and Gas Investments plc (UKOG).

It made this statement on the request for more information:

“Surrey County Council have carried out a very thorough public consultation. Information requests have been received from SCC themselves and other third party statutory consultees in the areas of transport, emissions and noise and ecology. We will provide our answers in March.

“Bearing in mind that Surrey CC decided that the Horse Hill planning application did not require an Environmental Impact Assessment, the original target period for determining our application was 13 weeks. However, this did fall over the Christmas period and there has been a lot of public interest and feedback. Horse Hill Developments Limited fully appreciates and understands the planning process.

“It is worth noting that similar operating activities to those being proposed in 2017 have been carried out at Horse Hill previously, with the exception of the first onshore use in the UK of an enclosed flare, which is a significant environmental advance and highly endorsed by the Environment Agency.”

[jrpooing] 23/2/2017 15:53

Still hold here but also bought into MPET (now TELL) seeing as they are Horse Hill related. Let's hope that at some point ALBA can follow the same trajectory.

[lev61] 23/2/2017 15:47

Just topped up another 1m and it came up as a sell. Tricks are being played

[moneymunch] 23/2/2017 13:57

Tick tick boom.....c'mon Alba. :-)))

[moneymunch] 23/2/2017 13:53

Ps Code 1.....again??? :')))

[moneymunch] 23/2/2017 13:50

I'm fully loaded......Alba's 14.75% combined interest at HH and Brockham could be worth 10's of millions of £'s by the time they confirm how much oil is recoverable......and Greenland's graphite and gold could be worth 100's of millions of dollars by the time drill results are in that they have plsnned later this year......and so plenty of transformational upside potential from Alba who certainly ain't no one trick pony. Gl :-) On and Up!!! ;-)

[oakville] 23/2/2017 13:30

In for another million.

[dongwe] 23/2/2017 13:13

Alba Minerals‏@AlbaMinerals Jan 13

We have a stand at the Master Investor Show Sat 25 March Business Design Centre Islington. Come and see us. #Horse Hill #Amitsoq

Alba Minerals‏@AlbaMinerals Jan 28

We also have a stand at the UK Investor Show QE II Conference Centre Westminster Sat 1 April. #Amitsoq #Horse Hill #Brockham
1 reply . 1 retweet 0 likes

THERE ARE I BELIEVE FREE TICKETS AVAILABLE ONTHE INTERNET SITES

[oakville] 23/2/2017 12:06

RNS imminent.

[moneymunch] 23/2/2017 11:50

Spring loaded and perfectly poised.....get ready for lift off.;-)))

[oakville] 22/2/2017 22:12

Come on ALBA get a move on !!

[moneymunch] 22/2/2017 22:12

Gla holders......there's very likely oil in massive recoverable volume at HH and Brockham and liitle old Alba own 14.75% of it, against their tiny market cap of £6.1m......and with Greenland's graphite and gold....a multi-bag of multi-bags looks nailed on!!! BIG NEWS COMING!!!!!!! ;-)))))

[moneymunch] 22/2/2017 22:11

Alba Mineral Resources plc
LON: ALBA - Feb 22, 5:16 PM GMT
0.36GBXPrice increase0.02 (7.58%)

[moneymunch] 22/2/2017 21:02

Code 1 followed by two reasonably sized trades, a late reported trade for 5m that looks like a sell, followed by a buy for 3.9m. ...with news from Brockham expected now. .....Gla holders, a stellar Rns awaits ( sooner or later ).....and significant upside beckons ..;-)))

[moneymunch] 21/2/2017 11:54

Big news coming....gla holders....get ready for lift off. ;-)

26/1/17

The Brockham oilfield has now been successfully completed and potential reservoirs have been logged in all the Portland, Kimmeridge and Corallian layers with all three formations having hydrocarbon shows.

The 6" hole has been electronically logged using quad combo and Ultra Wave fracture analysis. It has been cased and cemented, whilst the old open hole side-track has now been abandoned and cemented up back to inside the main well casing.

The well will now, upon OGA confirmation, be renamed BR-X4Z.

Further log analysis and laboratory work is currently being undertaken to provide a better understanding of the Kimmeridge and other formations, but from the evidence so far, these appear to be the same in structure to the oil bearing Kimmeridge sections in the nearby Horse Hill-1 well. Notably, the Corallian formation, which lies immediately below the Kimmeridge, had both oil and gas shows.

George Frangeskides, the Alba's Executive Chairman, commented:

"We are pleased to learn that hydrocarbon shows, which we understand were missed in the previous drilling by BP in 1987, have been encountered in the Portland and the three Kimmeridge target intervals. The reported oil and gas shows in the underlying Corallian are also very encouraging.

We understand from Angus Energy that analysis is underway to identify the extent of hydrocarbon presence and the ability of these hydrocarbons to freely move into the wellbore and that the use of New Ultra Wave well logging technology will, once the results are analysed, enable us to target the most prospective zones which have the highest potential for future production."

[moneymunch] 21/2/2017 08:25

Brockham's log results imminent......HH Permit Approval close.........Alba's share price cheap as chips.......Significant upside coming.......a multi-bag on confirmation of free flowing oil in volume, without depletion over the extended period from the first zone to be tested at HH which will be the Lower Limestone within the oil saturated Kimmeridge Interval......followed by the Middle and Upper Limestones that flowed beyond all expectations on HH's original flowtest programme, and then the Portland. Sandstone........with results expected to be released zone by zone throughout this year, and no doubt Brockham will be flow tested in the coming weeks and months....Alba can look forward to a significant revenue stream on the sale of test oil, and maybe even Gas at Brockham, but more importantly successful flowtest data that is hoped and expected will see Alba's 14.75% combined direct interest be worth 10's of millions of £'s........Gla holders......Hold on tight and enjoy the ride.......even the detractors who are out in force to undermine and deter ( they don't want you invested ), admit that there is an awful lot of oil in place......and this year's flowtests will confirm exactly how much is recoverable......a multi-bag of mult-bags from Alba's £6m market cap if all goes to plan and Greenland etc for added value as development plans progress and also transformational potential on drilling results planned for later this tear and/or a JV ...Onwards and Up!!!! ;-))))

[moneymunch] 20/2/2017 08:19

Lol give it up you tit.......postive progress being made by Alba on a prospect that could be worth several 100m dollars and more......and one step closer to a JV now that they will have full control......it there's Super Jumbo Sized Graphite Flakes in abundance, as well as the potential of gold and other rare materials, then there will be plenty of JV suitors. Gla holders ;-)

[frjdnverijtnhj8568934] 20/2/2017 07:58

Now they have 90% it just means Alba will require more cash to progress this asset from the aerial survey stage. It's hardly good news that their partner has sold their stake for buttons. GLA.

[oakville] 20/2/2017 07:09

Looking good, and good for GUN.

[moneymunch] 20/2/2017 07:04

Nice timing!!! Gl ;-)

Alba Min Res PLC
Approval for Alba Acquiring up to 100% of Amitsoq
RNS Number : 2473X
Alba Mineral Resources PLC
20 February 2017


20 February 2017

Alba Mineral Resources plc

("Alba" or the "Company")

Greenland Government Approves Alba Acquiring up to 100% Ownership

of Amitsoq Graphite Project, Southern Greenland



Alba Mineral Resources plc (AIM: ALBA) is pleased to announce that the Mineral Licensing and Safety Authority ("MLSA") of Greenland has confirmed that the Government of Greenland has now formally approved the indirect transfer to Alba of exploration licence 2013/06, comprising the Amitsoq Graphite Project in Southern Greenland (the "Project"). As announced on 1 November 2016, having earned the right to a 49 per cent interest in the Project, Alba had further agreed, subject to regulatory approvals from the Greenlandic authorities, to acquire a further 41 per cent interest in the Project to take Alba to 90 per cent ownership in total.

George Frangeskides, Alba's Executive Chairman, commented:



"We are delighted to receive the approval of the Government of Greenland to Alba acquiring up to 100 per cent ownership of the Project. We are very grateful to the MLSA and the Government of Greenland for their efficient and timely consideration of the transfer application, the approval of which has been given well in advance of the forthcoming 2017 field season. This provides Alba with a strong foundation as we continue to plan our work programme for this year and look to build on the significant steps forward we have made in relation to the Amitsoq Project over the past 12 months."



Completion terms

This Government approval having been given, Alba will now proceed to complete the acquisition of the further 41 per cent interest in the Project (by the transfer of shares in the licence holder, Obsidian Mining Limited) for the balance of the purchase price owed, being £90,000 payable in cash or Alba shares (at a 20 trading day volume weighted average price) at Alba's election but with a minimum of 50 per cent in cash unless otherwise agreed. Alba will thereby become the owner of 90 per cent of the Project.

As from completion of the acquisition, Alba will also take over the existing put and call option over the 10 per cent free carried interest held by a minority shareholder in the Project. This will enable Alba to move in future to 100 per cent ownership of the Project.