Sign In
8 Oct 2019 07:00
Alba Mineral Resources plc
("Alba" or the "Company")
Ā
HH-2/2z Drilling Update at Horse Hill Oil Field
Ā
Ā
Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, is pleased to announceĀ 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:
Ā
Following the completion ofĀ theĀ 12Ā¼" diameter holeĀ section inĀ itsĀ Horse Hill-2 ("HH-2") PortlandĀ pilotĀ well,Ā 9ā " casingĀ has been set and cemented into positionĀ from surfaceĀ to 2,019Ā ft belowĀ rig floor.Ā AfterĀ setting and testing blow out preventers,Ā expected to be completed today,Ā the well will drillĀ aĀ short section ofĀ 8Ā½"Ā diameterĀ hole down to the coring point, where three 60 ft cores are planned through the oil-bearingĀ PortlandĀ reservoir.ĀĀ
FollowingĀ theĀ coring programme,Ā designedĀ primarilyĀ to acquire key technical dataĀ that will ensure theĀ 1000mĀ HH-2z horizontal section is correctly positioned within theĀ Portland'sĀ most oil-productiveĀ zone, the well will drill ahead to total depth, be electric logged and then plugged back to theĀ "kick-off" point, delineatingĀ the start of HH-2z'sĀ plannedĀ 1000m horizontal trajectory.Ā HH-2z will follow directly afterwards.Ā
Ā
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014
Ā
Ā
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.
Ā
Ā
For further information, please contact:
Ā
Alba Mineral Resources plc George Frangeskides, Executive Chairman | +44 20 3907 4297 Ā |
Ā | Ā |
Cairn Financial Advisers LLP (Nomad) James Caithie / Liam Murray | +44 20 7213 0880 Ā |
Ā | Ā |
First Equity Limited (Broker) Jason Robertson | +44 20 7374 2212 Ā |
Ā | Ā |
Yellow Jersey PR (Financial PR/ IR) Sarah Hollins / Harriet Jackson / Henry Wilkinson | +44Ā 20 3004 9512 alba@yellowjerseypr.com |
Ā
Ā
Ā
Alba Project & Investment PortfolioĀ Ā
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% |
Ā
Ā
Ā
Ā
Ā
Ā
Ā
Ā
Follow the stocks
