Alba Mineral Resources PLC Investee Company Update: Horse Hill (5980L)
16 May 2022 - 6:10PM
UK Regulatory
TIDMALBA
RNS Number : 5980L
Alba Mineral Resources PLC
16 May 2022
Alba Mineral Resources plc
("Alba" or the "Company")
Horse Hill Update
Alba Mineral Resources plc (AIM: ALBA) reports that UK Oil &
Gas Plc ("UKOG"), as majority shareholder of Horse Hill
Developments Limited (the Operator of the Horse Hill Oil Project in
the Weald Basin in southern England) (together the "Operator"), has
provided the following update in relation to the Horse Hill Oil
Project in which Alba owns an 11.765% effective interest:
UK Oil & Gas PLC
("UKOG" or the "Company")
NSTA approves conversion of HH-2z into a water reinjector
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that following the Environment Agency's Horse Hill production
consent as announced on 4th May 2022, the North Sea Transition
Authority ("NSTA"), formerly the Oil and Gas Authority, has now
granted its formal consent for the recompletion (i.e., conversion)
of Horse Hill-2z into a water reinjection well. The Company holds
an 85.635% operated interest in the Horse Hill oil field and
surrounding PEDL137 licence.
With both the Environment Agency and NSTA permissions in hand,
UKOG can now further expedite its plans for produced saline
formation water reinjection at Horse Hill during 2022, which, if
implemented, would remove the need for costly transportation and
disposal of produced water at distant third-party sites.
ENDS
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of
regulatory and other third party consents and approvals,
uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of
unexpected events. Actual results achieved may vary from the
information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors.
Without prejudice to the generality of the foregoing,
uncertainties also exist in connection with the ongoing Coronavirus
(COVID-19) pandemic which may result in further lockdown measures
and restrictions being imposed by Governments and other competent
regulatory bodies and agencies from time to time in response to the
pandemic, which measures and restrictions may prevent or inhibit
the Company from executing its work activities according to the
timelines set out in this announcement or indeed from executing its
work activities at all. The Coronavirus (COVID-19) pandemic may
also affect the Company's ability to execute its work activities
due to personnel and contractors testing positive for COVID-19 or
otherwise being required to self-isolate from time to time.
For further information, please visit
www.albamineralresources.com or contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
SPARK Advisory Partners Limited (Nomad)
Andrew Emmott +44 20 3368 3555
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
St Brides Partners (Financial PR)
Isabel de Salis / Catherine Leftley alba@stbridespartners.co.uk
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
Clogau (gold) Wales 90%
----------- ----------
Dolgellau Gold Exploration
(gold) Wales 90-100%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Investments Held by Alba Location Ownership
----------- ----------
GreenRoc Mining Plc (mining) Greenland 54%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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END
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