Alba Mineral Resources PLC Update on Horse Hill Project (5201K)
July 10 2017 - 2:00AM
UK Regulatory
TIDMALBA
RNS Number : 5201K
Alba Mineral Resources PLC
10 July 2017
Alba Mineral Resources plc
("Alba" or the "Company")
Update on Horse Hill Project
Alba is pleased to announce that it has been informed by the
operator, Horse Hill Developments Limited ("HHDL"), that following
communications with Surrey County Council ("SCC"), HHDL now
understands that the Horse Hill planning application will be
determined at the scheduled SCC Planning Committee meeting of
either August or September 2017. The planning application seeks
consent to long-term production test HH-1 and to drill two further
wells. HHDL has informed the Company that its plans remain
unchanged, with flow testing expected to commence at Horse Hill in
Q4 2017.
Alba owns 15% of HHDL, which owns 65% of the Horse Hill licences
(PEDL 137 and PEDL 246) in the Weald Basin in Surrey which host the
HH-1 oil discovery well (the "Licences"), or a 9.75% attributable
interest in the Licences.
In addition, Alba's interest in the Weald Basin extends to
ownership of a direct 5% interest in Production Licence 235, which
comprises the Brockham Oil Field. See the Company's update
announcement of 26 June 2017 which reported on the plans of the
operator at Brockham, Angus Energy, for oil production to commence
from the Kimmeridge at Brockham this summer.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Alba Mineral Resources
plc
George Frangeskides,
Executive Chairman +44 20 7264 4366
Cairn Financial Advisers
LLP
James Caithie / Liam
Murray +44 20 7213 0880
Dowgate Capital Stockbrokers
Ltd
Jason Robertson / Neil
Badger +44 1293 517744
About Alba
Alba holds a 15 per cent interest in Horse Hill Developments
Limited, the company which has a 65 per cent participating interest
and operatorship of the Horse Hill oil and gas project (licences
PEDL 137 and PEDL 246) in the UK Weald Basin. Alba also has a
direct 5% interest in Production Licence 235, which comprises the
producing onshore Brockham Oil Field.
Alba owns a 90 per cent interest in the Amitsoq Graphite Project
in Southern Greenland and has an option over the remaining 10 per
cent. In addition, the Company has 100 per cent of the Limerick
base metal project in the Republic of Ireland and has applied for
the reissue of a uranium permit in northern Mauritania, centred on
known uranium-bearing showings.
Alba continues actively to review and discuss numerous other
project opportunities which have value-enhancing potential for the
Company whether by bolt-on or stand-alone acquisition, farm in or
joint venture.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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