Alba Mineral Resources PLC Horse Hill Update (4947D)
19 Febbraio 2020 - 1:30PM
UK Regulatory
TIDMALBA
RNS Number : 4947D
Alba Mineral Resources PLC
19 February 2020
Alba Mineral Resources plc
("Alba" or the "Company")
Horse Hill Oil Field Update - Commencement of HH-2Z
Intervention
Alba Mineral Resources plc (AIM: ALBA), the diversified mineral
exploration and development company, announces that it has received
the following update from 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 in which Alba
has an 11.765% interest:
- Operations to shut off formation water ingress into the Horse
Hill-2z ("HH-2z") horizontal production well have commenced. By
means of a Halliburton coiled tubing unit, production logging tools
will be run along the entire length of the 2,500 ft horizontal
section to identify the source of water ingress, thought to be from
a series of open natural fractures at the base or "toe" of the
wellbore.
- Once identified, the source of water ingress will be isolated,
either via a rigid setting fluid plug, or by a conventional
cementing and selective perforation programme. A resumption of
HH-2z extended well test operations is planned to follow directly
after a successful intervention. Portland oil pool test production
from HH-1 will continue during the intervention.
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 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.
Qualified Person's Statement
The technical information contained in this announcement has
been reviewed and approved by Feroz Sultan (B.Sc (Hons) Geology,
M.Sc, Petroleum and Structural Geology, Karachi and M.Sc Petroleum
Geology, Imperial College London), a petroleum geologist with over
45 years' experience in the management, exploration, development
and production of oil and gas.
Glossary
coiled tubing (CT) a very long, narrow (typically 1 to 3.5 inch
diameter) continuously welded metal tube, which
is supplied spooled on a large reel. It is
used for interventions to convey tools and/or
fluids to specific downhole locations where
deployment via wireline or other conventional
means is impossible or impractical i.e. in
existing deviated and horizontal wells. It
can also be used for drilling purposes in existing
wellbores via the installation of a drill bit
and bottom hole assembly powered solely by
drilling fluid circulation. Its use removes
the need for a workover rig as most CT units
are self-contained and trailer mounted.
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
production logging PLTs measure flowing fluid parameters on a
tools (PLTs) zone-by-zone basis within a producing well.
They provide diagnostic information, pinpoint
where fluids such as water, oil and gas are
entering a well and gives an indication about
the efficiency of the perforations. PLTs normally
measure four parameters: flow (via a series
of spinners which rotate in the flow), density,
temperature and pressure. The flow and density
readings are used in traditional quantitative
production logging analysis, whilst temperature
and pressure data are used in more of a qualitative
way to compute in-situ flow properties and
locate zones of entry of fluids into a well
well test or flow test involves testing a well by flowing
hydrocarbons to surface, typically through
a test separator over a flowing period of up
to 96 hours; 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 and volumes. An extended
well test or EWT is a well test with duration
of over 96 hours and up to 90 or 180 flowing
days aimed at assessing longer term production
viability and the connected oil in place seen
by the well.
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 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
Alba's Project and 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%
----------- ----------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLFLFLFFDIALII
(END) Dow Jones Newswires
February 19, 2020 07:30 ET (12:30 GMT)
Grafico Azioni Alba Mineral Resources (LSE:ALBA)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Alba Mineral Resources (LSE:ALBA)
Storico
Da Apr 2023 a Apr 2024
