Alba Mineral Resources Share Discussion Threads

[tidy 2] 18/7/2018 15:07

Metered daily oil rates to date equal to or exceed 2016 values. Highest observed hourly rate equivalent to an implied daily rate of 352 barrels of oil per day ("bopd"). Corresponding metered solution gas volumes are up to an implied rate of 30,000 cu ft per day. -- Flow has not yet been optimised for maximum sustainable flow rates -- First tanker containing 214 barrels of dry oil exported to BP's Hamble oil terminal -- Initial analysis indicates well productivity unaffected by 2 year shut-in period since 2016

[tidy 2] 18/7/2018 15:04

Horse Hill Partners Say Portland Well Exceeds ExpectationsSource: Alliance NewsOil & gas companies involved in the Horse Hill-1 oil discovery on Wednesday reported the completion of the clean-up phase of the Portland...

[jammytass] 18/7/2018 14:41

Nice rise
More to come

[tidy 2] 18/7/2018 14:41

1.57p for parity here with ukog and rising. Cap £11m here

[jungmana] 18/7/2018 14:40

And we are not just about HH. Exciting 6 months ahead here

[25wbh] 18/7/2018 14:36

always will be profit taking on the way up but as new buyers come in ,so will the price rise

favourable press comment if and is to hand will be very welcome!!!

[livup967] 18/7/2018 14:34

there will be twist and turn on it's way up..... but up she will go give it time....

[livup967] 18/7/2018 14:31

here we go sit back relax and enjoy the ride.... nothing more to say....

[tidy 2] 18/7/2018 14:31

Bigger news for Alba than UKOG. Look at the caps and stakes.

[jungmana] 18/7/2018 14:24

Looking pretty. We have a lot of catching up to do on ukog. Good rns there

[tidy 2] 18/7/2018 14:04

Shut it hans you plebe.

[tidy 2] 18/7/2018 14:03

RNS Number : 0569VAlba Mineral Resources PLC18 July 2018Alba Mineral Resources plc("Alba" or the "Company")Portland Extended Flow Test ("EWT"): Well Clean-Up Phase Complete, Dry Oil Flows to Surface,Horse Hill-1 Oil Discovery, PEDL137, Weald Basin, UKHighlights: -- Initial Portland well "clean-up" phase completed successfully -- Light sweet crude oil (36 API) and associated solution gas flowed sustainably via pump and natural flow to surface over a 4-day period to date. Oil contains no metered water content (i.e. "dry oil")-- Metered daily oil rates to date equal to or exceed 2016 values. Highest observed hourly rate equivalent to an implied daily rate of 352 barrels of oil per day ("bopd"). Corresponding metered solution gas volumes are up to an implied rate of 30,000 cu ft per day. -- Flow has not yet been optimised for maximum sustainable flow rates -- First tanker containing 214 barrels of dry oil exported to BP's Hamble oil terminal -- Initial analysis indicates well productivity unaffected by 2 year shut-in period since 2016 -- Following a planned 24-hour shut in (i.e. pressure build-up test) the first of three planned Portland test sequences will commenceAlba (London AIM: ALBA) is pleased to announce that it has been informed by Horse Hill Developments Ltd ("HHDL"), the operator of the Horse Hill-1 ("HH-1") Kimmeridge and Portland oil discovery, that the initial well "clean-up" phase of the Portland extended well test ("EWT") programme has been completed according to plan. Over the past four days, the well has delivered a sustained dry oil and solution gas flow to surface via pump and natural flow.Alba holds an 11.765% beneficial interest in licence PEDL137 containing the HH-1 oil discovery.Alba has been informed by HHDL that:-- Observed metered Portland flow rates to date are broadly equivalent to, or exceed, those recorded during the short duration 2016 test. The highest recorded hourly metered rate to date, equates to an implied daily rate of 352 bopd and was achieved using a 20/64" choke, a notably more restricted setting than the 64/64" choke used in 2016. Corresponding solution gas flows have been measured up to an implied rate of 30,000 cubic feet per day. Note that, to date, flow has not yet been optimised for maximum sustainable production rates, this will follow in the subsequent test sequences.-- Several periods of sustained natural flow (i.e. flow to surface without pumping) have also been observed over the past few days, with the most productive period producing an implied daily dry oil rate of 228 bopd over a two-hour period.-- Initial reservoir parameter analysis indicates that the Portland is performing very well compared to the productivity measured in 2016 prior to temporarily shutting in and suspending the well.-- To date a total of 463 barrels of light sweet 36 API crude have been recovered to surface during the clean-up period, together with all 141 barrels of completion and kill fluids (i.e. saline water) used to suspend the well after the 2016 well test.Forward EWT PlansThe well will now be shut in for a planned 24-hour pressure build-up test. Operations will then include further flow parameter optimisation, followed by the first of three planned flow sequences designed to assess whether the Portland oil pool contains a commercially viable volume of oil. The first test sequence will likely include an optimised maximum rate test, prior to choking back the well to provide the steady state flow conditions necessary to determine the Portland oil pool's connected oil volume. Note that in order to collect the required data during these steady state flow periods, rates will likely be below any future optimised production rates.Testing of each of the Kimmeridge Limestone 4 ("KL4") and KL3 oil pools will follow completion of the Portland test sequence.Extended Well Test ("EWT") Overview

[hans christian andersen] 18/7/2018 14:00

tidy 2
*ISS off back to ALBA and ramp.

[tidy 2] 18/7/2018 13:52

Tanker spotted leaving. Axles low. https://twitter.com/realstock10/status/1019557467271958528?s=21

[tidy 2] 18/7/2018 13:10

bkp tanker just gone into HH

[graylyn1] 18/7/2018 10:47

Horse Hill

The Horse Hill-1 well was spudded on 3rd September 2014 to test several conventional stacked oil and gas targets in the proven productive Portland Sandstone, Corallian Sandstone and Great Oolite Limestone levels in the well-defined Horse Hill prospect in the Weald Basin situated in Surrey, England.

The well was completed on 5 November 2014, reaching a total depth of 8,770 ft (2,673 metres), and encountering several hydrocarbon-bearing horizons. Having initially acquired a 5 per cent interest in the Project, following subsequent acquisitions Alba now has an 18% shareholding in Horse Hill Developments Limited ("HHDL").

HHDL is a special purpose company that owns a 65% participating interest and is the operator of the licence area, comprising Production and Exploration Development Licences (PEDL) 137 and 246 ("Horse Hill or the "Licence Area"). For further information go to www.horsehilldevelopments.co.uk. The remaining 35% participating interest in the Licence Area is held by Tellurian Inc, formerly Magellan Petroleum Corporation (NASDAQ: TELL). As such, Alba owns an effective economic interest of 11.765% in the Horse Hill Project.

On 11 May 2015 Alba announced that the calculated estimates by Xodus Group (“Exodus”), an independent international energy consultancy based in the UK, showed that the Upper Portland Sandstone conventional reservoir contains a "Best Estimate" (P50) gross oil initially in place (“OIIP”) of 21.0 million barrels ("mmbbls") entirely within PEDL137 and incorporating both the HH-1 and CF-1 wells. Alba had initially announced a gross OIIP of 3.1 mmbbls (P50) in the Upper Portland Sandstone on 24 October 2014, which was then upgraded to 8.2 mmbbls (P50) on 17 December 2014.

In August 2015, Schlumberger provided HHDL with an independent report of the estimated oil in place contained within the licence area. The calculated gross OIIP at Horse Hill was 10,993 mmbbls, and is composed of 8,262 mmbbls within tight limestones and shales of the Kimmeridge Clay Formation, and 2,731 mmbbls associated with the shales of the Oxford Clay and Lias Formations.

In Q1 2016 work a flow test was carried out from the HH-1 Upper Portland conventional oil pool and the Upper and Lower Kimmeridge limestones in order to assess the recoverable volume of oil. The final total aggregate stable dry oil flow rate from two Kimmeridge limestones plus the overlying Portland sandstone was recorded at 1688 bopd. Over the 30-90 hour flow periods from each of the three zones, no clear indication of any reservoir pressure depletion was observed. The final Portland test of 323 bopd, over an 8.5 hour period is the highest stable dry oil flow rate from any onshore UK Portland well. The stable, natural dry-oil flow rate of 464 bopd from the Lower Kimmeridge Limestone is the first ever flow from this rock unit in the Weald Basin and onshore UK. Based on the analysis of published reports from all significant UK onshore discovery wells, the 901 bopd from the Upper Kimmeridge zone is likely the highest stable natural dry oil flow rate from a single reservoir in any UK onshore new field wildcat discovery well.
High quality Brent Crude was produced: light, sweet oil (40 degrees API in Kimmeridge, 35-37 degrees API in Portland), with 1,940 barrels delivered to the Esso Fawley refinery. Preliminary analysis confirms that the Lower and Upper Kimmeridge Limestone units are naturally fractured reservoirs with high deliverability. There is a strong possibility for further optimisation and increased flow rates from all three zones in future development and production wells, particularly through the use of horizontal wells.

The most recent Xodus calculation (February 2017) for Portland sandstone P50 Oil in Place (OIP) is 32 million barrels, a 53% increase on previous calculations. The base case Portland initial oil rate was estimated at 350 barrels of oil per day per well. Ultimate recovery could be increased by a further 8-14% of OIP via implementation of a water re-injection scheme.

On 27 June 2018 it was announced that long-term production testing operations at Horse Hill were commencing, with the aim of moving towards a declaration of commerciality and stable long-term production from the Portland and Kimmeridge.

[graylyn1] 18/7/2018 10:34

First Equity note from DEC 2017, although these broker notes do get a bit carried away on the upside a buy price of 6p does warrant some attention as ALBA is not even 0.5p YET.

[tidy 2] 18/7/2018 10:31

Yes the 10m is a buy. 0.41 full ask at the time.