Alba Mineral Resources has announced Horse Hill aggregate total Portland volume exceeds 15,000 bbl

Horse Hill - 1 Well. Photo: Alba Mineral Resources.

LONDON -- Alba Mineral Resources plc, the diversified mineral exploration and development company, has announced that Horse Hill Developments Ltd (HHDL or the Operator), the operator of the HH-1 Kimmeridge Limestone (KL) and Portland Sandstone (Portland) oil discovery in which Alba has an 11.765% interest, has this morning advised the Company that:

• Dry oil production (i.e. zero produced water) from the Portland reservoir at the Horse Hill oil field has continued at a stable rate of over 220 bopd delivering an aggregate total Portland volume exceeding 15,000 bb to date. The Portland and Kimmeridge extended test program has now produced a significant aggregate volume in excess of 40,000 bbl.
• For prudent Portland reservoir management purposes, the average pumped rate from HH-1 continues to be maintained below the previously calculated forecast rate of 362 bopd based on optimal reservoir conditions
• The well is currently shut in for a 60-hr pressure build-up test prior to the scheduled retrieval of downhole pressure gauges. Following the pressure data retrieval and other maintenance over the coming week, Portland test production will resume.

Alba has also been advised by the operator that preparations for the planned drilling start of HH-1z and HH-2 in the second quarter of 2019 are nearing finalization.

Further, the Operator has provided the following summary of extended well test (EWT) results to date:

• Over 40,000 bbl aggregate Kimmeridge and Portland oil production to date.
• Over 25,000 bbl total Kimmeridge oil production.
• Over 15,000 bbl total Portland production to date, flow continues.
• 186 tankers of crude exported primarily to Perenco's Hamble oil terminal. The Portland's 36° API Brent quality crude containing zero produced water, continues to be sold at prevailing Brent crude oil prices, less a small deduction for handling and marketing.