Alba Mineral Resources: Kimmeridge Limestone 4 EWT has commenced at Horse Hill

Highlights:

• Kimmeridge Limestone 4 (‘KL4’) EWT operations now underway. Further updates to follow in due course following flow stabilisation and pressure build up tests.
• Oil and gas consultancy group Xodus reports that the single HH-1 well ‘sees’ a connected Portland oil in place (‘OIP’) of approximately 7 - 11 million bbls.
• Horse Hill Portland and Kimmeridge long-term production scoping report submitted to Surrey County Council. Overall plan includes a total of six production wells, with two production wells and a reservoir pressure support well in the Portland oil pool.
• A planning application for production to be submitted to SCC prior to the completion of the 2018 EWT programme.

George Frangeskides, Alba's Executive Chairman, commented:

"These ambitious plans revealed by the operator to drill up to a further four wells at the Horse Hill site, on top of the already planned HH-1z side-track well and HH-2 new well, supports our belief in the potential for Horse Hill to provide material production and cash flow returns to Alba in the medium to long-term. In the short-term, meanwhile, we await the results of the current Kimmeridge EWT, which we hope will further underpin the plans to submit a planning application for the commencement of full-scale production."

"On the corporate front, the recently announced disposals by a number of the participants of their stakes in Horse Hill means that Alba is now the sole AIM-quoted participant in the Horse Hill venture aside from UKOG, and the third largest participant in the Project overall, after UKOG and Tellurian Inc. Alba remains a committed participant in Horse Hill and we look forward to reporting further news in this fast-developing project as it arises.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/05102018/alba-mineral-resources-kimmeridge-limestone-4-ewt-has-commenced-at-horse-hill/