Alba Mineral Resources PLC Horse Hill Update (0605W)
15 August 2022 - 10:25PM
UK Regulatory
TIDMALBA
RNS Number : 0605W
Alba Mineral Resources PLC
15 August 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 (London AIM: UKOG) announces that further
to the Court of Appeal's February 2022 dismissal of the challenge
by Finch on behalf of the Weald Action Group (Finch et al) to
Surrey County Council's grant of Horse Hill production consent
(UKOG 85.635%) , the Company now understands that, disappointingly,
but perhaps not unsurprisingly, the claimant has been given a final
legal avenue to appeal to the Supreme Court. Should the claimant
adopt this final permitted course of action, it is expected to be
heard some time from Q2 2023 onwards. No further action by the
claimant will be permissible after any such hearing. Planning
consent currently remains in full force and lawful oil production
at Horse Hill will continue until further notice.
"At the last count, five judges and the Court of Appeal have
dismissed this case. Consequently, the Company and its legal
counsel remain convinced that planning consent was granted entirely
lawfully, and will, therefore, strongly contest any further action
against its interests.
"Following the Environment Agency's full Horse Hill production
consent in May this year, a new Unico pump has recently been
installed in the H H-1 oil producer. The prior pump is being
refurbished as an additional spare. Preparatory work towards
converting HH-2z into a produced saline water reinjector
continues."
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.
**ENDS**
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
OvalX (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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