Alba Mineral Resources (ALBA)

Sector:

Mining

Index:

FTSE AIM All-Share

 0.045p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.10p
  • 52 Week Low: 0.035p
  • Currency: UK Pounds
  • Shares Issued: 9,726m
  • Volume: 5,591,684
  • Market Cap: £4.38m
  • RiskGrade: 447

Alba Mineral Resources pleased with Brockham test results

By Josh White

Date: Friday 03 Mar 2017

LONDON (ShareCast) - (ShareCast News) - Alba Mineral Resources announced on Friday that it had been advised by the operator, Angus Energy, that following extensive analysis of the BR-X4Z sidetrack well, its intention was to bring the Kimmeridge into production at the existing Brockham production facility as soon as the necessary Oil and Gas Authority approval was in place.
The AIM-traded company said the Brockham X4Z well, drilled to a total depth of 1,391m, was planned to evaluate the Portland, Corallian and Kimmeridge formations at Brockham, including an evaluation of the Kimmeridge reservoir that had been demonstrated by the Horse Hill discovery 8km to the south.

Horse Hill Developments Limited, the operator of the well at Horse Hill, in which Alba has a 9.75% economic interest, had announced cumulative production rates of over 1,500 barrels per day in short term testing.

The Brockham X4Z well was intended to establish whether the evidence of a potential reservoir reported at Horse Hill extended further north into the Brockham licence.

Alba said as a result, it was pleased to report that Angus has confirmed the preliminary results from the Brockham X4Z well showed very similar thickness of reservoir and properties to those reported at Horse Hill.

The gross thickness of the Kimmeridge formation in Brockham X4Z was reportedly some 385 metres.

It also said the two limestone intervals - each around 30m - tested in Horse Hill were also seen in the Brockham well, and the reservoir properties appeared to be very similar to Horse Hill, based on electrical logging evidence.

"These results are very positive for the Weald Basin as a whole, and very positive also for Alba given our interests at both Horse Hill and Brockham," said CEO Michael Nott.

"We look forward to the work that will be undertaken by the consortium over the coming months and the benefits that will arise for all shareholders and stakeholders."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ALBA Market Data

Currency UK Pounds
Share Price 0.045p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.10p
52 Week Low 0.035p
Volume 5,591,684
Shares Issued 9,726m
Market Cap £4.38m
RiskGrade 447

ALBA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
38.83% above the market average38.83% above the market average38.83% above the market average38.83% above the market average38.83% above the market average
20.63% above the sector average20.63% above the sector average20.63% above the sector average20.63% above the sector average20.63% above the sector average
Price Trend
82.62% below the market average82.62% below the market average82.62% below the market average82.62% below the market average82.62% below the market average
66.42% below the sector average66.42% below the sector average66.42% below the sector average66.42% below the sector average66.42% below the sector average
Income Not Available
Growth Not Available

ALBA Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
16:26 984,251 @ 0.043p
15:59 422,066 @ 0.045p
15:21 5,032 @ 0.046p
14:51 1,404,242 @ 0.045p
12:00 10,000 @ 0.042p

Top of Page