TIDMALBA
RNS Number : 0353M
Alba Mineral Resources PLC
12 September 2019
Alba Mineral Resources plc
("Alba" or the "Company")
Horse Hill-1 and Horse Hill-2/2z drilling and testing update
Alba (LON: ALBA), the diversified mineral exploration and
development company, announces that it has been informed by 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, containing the Horse Hill-1 ("HH-1") oil
discovery, of the following:
- Final site works to accommodate the arrival of the rig to
drill the new Horse Hill-2/2z ("HH-2/2z") Portland horizontal well
commenced at 1200 hrs, Friday 30 August and were completed
yesterday.
- Test production from the Horse Hill-1 ("HH-1") Kimmeridge oil
pool was temporarily shut-in to permit oil storage tanks and
flowlines to be relocated to enable safe simultaneous drilling and
HH-1 testing operations. Kimmeridge test oil production has now
resumed and will continue until the rig arrives, when a further
short shut-in will occur to enable the HH-2/2z drilling set-up to
be assembled.
- Prior to the current shut-in, Kimmeridge test production
reached a total of 36,559 barrels ("bbl") of dry Brent quality
crude at a final metered rate of 313 bbl of oil per day ("bopd")
over the final 48-hour test period. Peak instantaneous rates of up
to 374 bopd were recorded during this period. Total aggregate
Portland and Kimmeridge test production now stands at a landmark
66,127 bbl. Kimmeridge production is planned to continue during the
drilling campaign.
- Having signed the relevant drilling and service contracts, the
rig is now scheduled to arrive later in September to commence
drilling and coring the HH-2 vertical pilot hole, expected to be
completed in around 30 days from start. The horizontal well
section, HH-2z, with a planned trajectory of up to 1000m wholly
within the Portland reservoir, will follow directly afterwards.
Further operational updates will be issued in due course.
- Horse Hill 2018-19 Test Oil Production Milestones:
o 66,127 bbl aggregate Kimmeridge and Portland oil
production
o 36,559 bbl total Kimmeridge oil production
o 29,568 bbl total Portland production
o No discernible formation water produced from either
reservoir
Alba has an 18.1% interest in HHDL, for an effective 11.765%
interest in the Horse Hill oil field and surrounding PEDL137 and
PEDL246 licences (together the "Horse Hill Project").
George Frangeskides, Alba's Executive Chairman, commented:
"We are pleased to report on the rapid operational progress that
is being made at Horse Hill, which follows hot on the heels of
yesterday's announcement of the grant of planning permission for
long-term production, running for some 25 years. This puts the
long-term future of the Horse Hill oil field on a very sure
footing."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Qualified Person's Statement
Michael Nott, who has over 45 years' relevant experience in the
geological, mining, minerals, waste disposal, industrial minerals,
oil, drilling, mineral planning and quarrying industries, has
approved the technical information in this announcement.
Mr Nott holds a BSc. degree in Geology from Queen Mary,
University of London, a MSc. Degree in Mineral Production
Management from the Royal School of Mines, Imperial College,
University of London, The Diploma of Imperial College in Mineral
Production Management and is a Chartered Engineer. He is a Fellow
of the Institute of Materials, Minerals and Mining, a Fellow of the
Minerals Engineering Society, a Fellow of the Institute of
Quarrying and an Associate of the Royal School of Mines
Association.
Glossary
flow test or well test: a flow test or well test involves
testing a well by flowing hydrocarbons to surface, typically
through a test separator. Key measured parameters are oil and gas
flow rates, downhole pressure and surface pressure. The overall
objective is to identify the well's capacity to produce
hydrocarbons at a commercial flow rate.
horizontal well: a well that during drilling is steered so as to
follow and remain within a particular geological stratum or
reservoir unit having a trajectory that runs approximately parallel
to the top and or base of the target horizon
oil field: an accumulation, pool or group of pools of oil in the
subsurface that produces oil to surface.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3907 4297
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
First Equity Limited (Broker)
Jason Robertson +44 20 7374 2212
Yellow Jersey PR (Financial PR/ IR)
Harriet Jackson / Henry Wilkinson +44 77 1071 8649
alba@yellowjerseypr.com
Alba's 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%
----------- ----------
Web: www.albamineralresources.com
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END
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