Alba Mineral Resources PLC Horse Hill Update (0630P)

TIDMALBA

RNS Number : 0630P

Alba Mineral Resources PLC

08 October 2019

Alba Mineral Resources plc

("Alba" or the "Company")

HH-2/2z Drilling Update at Horse Hill Oil Field

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, is pleased to announce that it has received the following update from UK Oil & Gas Plc ("UKOG"), the majority owner of Horse Hill Developments Limited ("HHDL"), the operator of Horse Hill licences PEDL 137 and PEDL 246 in which Alba has an 11.765% interest:

   -- Following the completion of the 12 1/4 " diameter hole section in its Horse Hill-2 ("HH-2") Portland pilot well, 
       95/8" casing has been set and cemented into position from surface to 2,019 ft below rig floor. After setting and 
      testing blow out preventers, expected to be completed today, the well will drill a short section of 8 1/2 
      " diameter hole down to the coring point, where three 60 ft cores are planned through the 
      oil-bearing Portland reservoir. 
   -- Following the coring programme, designed primarily to acquire key technical data that will ensure the 1000m HH-2z 
      horizontal section is correctly positioned within the Portland's most oil-productive zone, the well will drill 
      ahead to total depth, be electric logged and then plugged back to the "kick-off" point, delineating the start of 
      HH-2z's planned 1000m horizontal trajectory. HH-2z will follow directly afterwards. 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

Qualified Person's Statement

The technical information contained in this announcement has been reviewed and approved by Feroz Sultan (B.Sc (Hons) Geology, M.Sc, Petroleum and Structural Geology, Karachi and M.Sc Petroleum Geology, Imperial College London), a petroleum geologist with over 45 years' experience in the management, exploration, development and production of oil and gas.

For further information, please contact:

 
 Alba Mineral Resources plc 
  George Frangeskides, Executive Chairman            [phone] 
 
 Cairn Financial Advisers LLP (Nomad) 
  James Caithie / Liam Murray                        [phone] 
 
 First Equity Limited (Broker) 
  Jason Robertson                                    [phone] 
 
 Yellow Jersey PR (Financial PR/ IR)                 [phone] 
  Sarah Hollins / Harriet Jackson /           [e-mail] 
  Henry Wilkinson 
 

Alba Project & Investment Portfolio

 
 Project (commodity)        Location     Ownership 
 Mining Projects 
 Amitsoq (graphite)         Greenland    90% 
                           -----------  ---------- 
 Clogau (gold)              Wales        90% 
                           -----------  ---------- 
 Inglefield (copper, 
  cobalt, gold)             Greenland    100% 
                           -----------  ---------- 
 Limerick (zinc-lead)       Ireland      100% 
                           -----------  ---------- 
 Melville Bay (iron ore)    Greenland    51% 
                           -----------  ---------- 
 TBS (ilmenite)             Greenland    100% 
                           -----------  ---------- 
 Oil & Gas Investments 
 Brockham (oil)             England      5% 
                           -----------  ---------- 
 Horse Hill (oil)           England      11.765% 
                           -----------  ---------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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October 08, 2019 02:00 ET (06:00 GMT)