TIDMALBA

RNS Number : 4266L

Alba Mineral Resources PLC

13 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")

One-year work programme extension on PEDL137 Horse Hill

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the North Sea Transition Authority (formerly the Oil and Gas Authority) has granted a one-year extension to the agreed Retention Area work programme of the Company's operated PEDL137 licence (UKOG 85.635%) containing the producing Horse Hill oil field and its underlying Kimmeridge oil pool.

The extension grants an additional year in which to drill a second Horse Hill Kimmeridge well, with the commencement of drilling to be prior to 30th September 2023.

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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(END) Dow Jones Newswires

May 13, 2022 03:45 ET (07:45 GMT)

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