Alba Mineral Resources plc announces re-established oil production from Horse Hill well

The Operator further advises as follows:

The resumption of continuous Portland dry oil flow (i.e. oil with zero water content), at a stable daily rate of between 208 and 218 bpd, forms a key part of the schedule of works required to finalise the Portland field development plan and to the targeted establishment of permanent long-term Portland production, planned by end 2019.

The total production figures to date from the extended well test ("EWT") at Horse Hill are as follows:

Over 30 200 bbls of aggregate KL and Portland oil production (comprising over 25 000 bbls of total KL production and over 5100 bbls of total Portland production).

142 tankers of sales crude exported primarily to Perenco's Hamble oil terminal.

The 40° API Brent quality crude of KL production contained no produced water and has been sold at prevailing Brent crude oil prices, less a small deduction for handling and marketing.

For prudent reservoir management purposes, the average test production rate from the 114 ft vertical perforated Portland section has been maintained below the previously reported 362 bpd calculated optimised sustainable rate. HH-1 test production is planned to continue until the completion of the new HH-2 Portland well, scheduled to start in spring 2019 subject to receipt of all necessary approvals (noting that planning and environmental permits are already in place), and that Portland test production would then be switched over to HH-2.

In tandem with Portland operations, the KL oil pool was shut-in to conduct a further long-term pressure build up test. Pressure gauges, set within the KL reservoir, will monitor the KL reservoir whilst the Portland is flowed.

Resumption of continuous KL test production is now planned to follow directly after the drilling of HH-2. Initially via a short flow test period from HH-1, then by further long-term production testing of the new HH-1z KL side-track, subject to receipt of all necessary approvals (noting that planning and environmental permits are already in place).

George Frangeskides, Alba's Executive Chairman, commented: "We are pleased to see the resumption of test production from the Portland Sandstone and look forward to further reports from the Operator as the test programme continues."

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