ALBA closed on Friday up 151.43% at 2.2p !! As far as I could see there was no news so can anybody proffer an opinion as to what caused this? I'm a novice at all this so if the answer is obvious I wont be offended !! :) But curious all the same !!

don't forget
broker note to 17p -
alba will have the largest % rise o all hh companies

Of the six AIM listed companies with a stake in the project, Alba has
the lowest market cap and is the most leveraged (Horse Hill risked
value / market cap) and therefore most likely to increase in share
price by the highest percentage if drilling is successful.

broker note to 17p -
alba will have the largest % rise o all hh companies

Of the six AIM listed companies with a stake in the project, Alba has
the lowest market cap and is the most leveraged (Horse Hill risked
value / market cap) and therefore most likely to increase in share
price by the highest percentage if drilling is successful.

this will be the biggest gainer!

fantastic rns - moving

multibaggerrrrrrrrrrrrrrrrrrr is coming here...................................

http://www.thisismoney.co.uk/money/investing/article-2748118/SMALL-CAP-SHARE-IDEAS-Could-Gatwick-Britain-s-Dallas.html

'In his assessment of Horse Hill investor Alba last month, Dowgate’s Robertson quantified the potential impact of a successful well on the company’s share price, which currently stands at 0.73p. And it has 'multi-bag' potential.

He believes the stock could be worth 8.9p to 17p if the consortium does find significant quantities of commercial hydrocarbons; however, a dry well will give a valuation at 0.5p.

So the upside of this well could be huge, not just for Alba, but the others involved.'

moving way under valued

yeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

more to come

The Esso drill in 1964 hit 7 zones of oil down to 5,000ft as I was only aware of 4 oil targets for the HH drill, but it could be targeting more. We know about the 4 primary and secondary oil targets, but will they stop to test the other 3 systems? No idea, but it would cause unexpected news flow if they did. Likewise with the internal discussion they are presently having on whether or not to go down to 10,000ft, for a full exploratory "look see" for gas in the Triassic. If they do go deeper then you can forget the presently published gas estimate on potential reserves, as we would be looking at 2,000ft of additional gas exploration, with all that may or may not produce.

Drill progress seems to be on-schedule, as he mentioned that the 20inch steel casing is now going in, which is the last bit for the Auger to do, and that there was a lot of rig mobilisation work being conducted on site at present, so spud for the main rig is obviously imminent.

If they do go down to 10,000ft, then whatever they find gives us more info to work with when it comes to developing HH, Brockham and PEDL 246, and obviously has the potential to increase reserves, so I hope they do deeper. because the issue of whether there is gas at deeper levels will remain an unanswered question if they don't. I think they probably will, as the three Magellan/Centrique gas exploration wells in the Weald were all going to 10,000ft, so Magellan will be pushing hard for the extra depth, especially as Magellan's only planned exploration well for this year with Centrique has hit planning consent buffers with the local council over traffic issues and isn't now going ahead. That means HH is Magellan's only play at present with regards to finding out about gas in the Triassic, and they clearly think it's goes all the way down, otherwise they would not be targeting 10,000ft in their other drills.

Oil in the Portland is a game changer in its own right, but if we go though those two systems with commercial quantities of oil under our belt, then do the drill's deeper oil and gas targets become more, rather than less likely? No idea, but there are some tough decisions ahead for those wishing to top slice / profit take during the drill, upon a commercial oil find in the Portland systems, especially if there's now a chance that we are going to 10,000ft, because the gas suddenly becomes an even bigger play than it already is.

moving ;

the rig @ hh

https://twitter.com/DavidLenigas/status/512963967720112129

rns imminent - I really would not want to be out of alba right now - wont be this cheap for long and should bag easily
alba tops the sp levarage

yeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

And so the formal announcement is out: The Horse Hill starting pistol has really been fired. How long do you have to wait for news? Not long!

First things first, yesterday’s statement from all six companies involved clarifies that this is not going to be fracked – it is a conventional play. That should keep the smelly protesters at bay. But it makes clear that the larger rig is now on site and that it will take just 60 days to reach the ultimate target depth – the big potential gas play.

However shareholders in Regency Mines (RGM), Alba (ALBA), UK Oil & Gas (UKOG), Stellar Resources (STG), Solo (SOLO) and Doriemus (DOR) will not have to wait that long for news. The first of seven zones targeted is at 1,750 feet and that implies that at some stage next week we will get news on what was encountered there. Given that a well just down the road is producing oil from the same depth you would think it likely that this too will show oil.

As a reminder this is what is being targeted. For all of the sic this could be a company maker. But please remember oil exploration is high risk and failure with the drill bit would not be well received. For now anyway, excitement is likely to increase ahead of the first news in a few days’ time

- See more at: http://www.shareprophets.advfn.com/tag/horse+hill/#sthash.djITJmbT.dpuf

and we are off!!

oil & gas encountered already!! gla
broker target 8p to 17p because of leverage etc as already posted..............

Alba confirms oil shows at Horse Hill-1
StockMarketWire.com
Alba Mineral Resources has confirmed that the Horse Hill-1 well has intersected the Portland Sandstone over the weekend and has encountered oil shows identified by mud logging from 2,100 feet to 2,140 feet measured depth.

At 14:00 hours yesterday, the well was drilling ahead at 3,030 feet MD towards the other primary and secondary targets.

Sandstone drill cuttings recovered from the well have been analyzed and are confirmed by the operator to have "a dull yellow fluorescence with a slow diffuse light blue cut with a trace of residual oil ring".

This indicates the presence of oil within a porous and permeable rock matrix. Gas readings within the mud over the same interval were also elevated and recorded gases compositions consistent with the presence of oil.

The Horse Hill-1 well is located on the northern side of UK Weald Basin near Gatwick Airport and is planned to test a number of conventional oil and gas targets.

The primary oil reservoir targets in this well lie in the Jurassic age Portland Sandstone and the Corallian Sandstone. There are also a number of secondary oil targets in the Jurassic formations, including the Great Oolite Limestone. The well is presently being drilled to the second of the primary targets in the Corallian Sandstone.

Electric logs will be acquired on reaching the third casing point at approximately 5,900 feet MD before setting a 9 5/8-inch casing. The well will then be drilled with an 8 ½-inch hole to 8,658 feet total depth ("TD") in order to test for Triassic aged formations which are expected to contain gas.

Alba owns a 5% interest in Horse Hill Developments Ltd, a special purpose company which owns a 65% participating interest and operatorship of onshore licences PEDL137 and the adjacent licence PEDL 246 in the UK Weald Basin.

The participants in the Horse Hill-1 well are HHDL with a 65% working interest and Magellan with a 35% interest.

1p to buy currently

http://www.bbc.co.uk/news/uk-england-29519170

i would not want to be out of alba for the foreseeable!
http://www.telegraph.co.uk/finance/11171067/HORSE-HILL-SUNDAY-STORY-HEADLINE-TO-COME.html

http://www.telegraph.co.uk/finance/11171067/Oil-find-expected-in-Britains-Dallas.html

LEAK - MOVING!

first step to 17p here we goooooooooooooooooooooooooooo

http://guerillainvesting.co.uk/2014/10/23/horse-hil-its-an-oil-strike-and-its-commercial/

yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

much more blue here tomorrow :-)

here we go!!

Portland Oil Discovery, Horse Hill-1, Weald Basin
RNS Number : 1802V
Alba Mineral Resources PLC
24 October 2014


For Immediate Release, 7 am

24 October 2014



Alba Mineral Resources PLC

("Alba" or the "Company")



Portland Oil Discovery, Horse Hill-1, Weald Basin UK





Alba Mineral Resources PLC (AIM: ALBA) today announces that, following preliminary evaluation of the electric logs, the Horse Hill-1 well has discovered an oil accumulation in the conventional Upper Jurassic Portland Sandstone at a top reservoir depth of 1,791 feet TVDss.



A preliminary most likely estimate of 3.1 million barrels ("mmbbls") of gross in place hydrocarbon volume has been calculated within the upper Portland, with a further gross unrisked in place prospective hydrocarbon volume of 16.8 mmbbls of oil in a separate lower sand in the Portland interval located in an untested fault block to the south. As previously announced, the well is being deepened to the Triassic where an additional target, believed to have potential for gas, is expected to be reached in the next two weeks.



The Portland Sandstone was previously reported on 16 October 2014 to have oil shows in cuttings and elevated gas readings whilst drilling and these indications have been confirmed by independent petrophysical analysis of the electric logs acquired in the well during the last week. Further analysis is continuing to establish the recoverable volume of oil that has been discovered.



Michael Nott, Alba's CEO, commented:



"We are delighted with the results so far from this well. The presence of a larger, unappraised, Portland feature creates considerable further upside. We are now looking forward to drilling the Triassic, which is a new and untested exploration target in the area and which, if successful, may contain appreciable volumes of gas."



The Horse Hill-1 well is located on the northern side of the Weald Basin near Gatwick Airport. Alba owns a 5% interest in Horse Hill Developments Limited ("HHDL"), a special purpose company. HHDL owns a 65% participating interest and is the operator of onshore licences PEDL 137 and the adjacent licence PEDL 246 in the Weald Basin. The participants in the Horse Hill-1 well are HHDL with a 65% working interest and Magellan Petroleum Corporation with a 35% interest. Alba's net interest in any discovery is 3.25%.



Additional analysis:



The upper Portland Sandstone reservoir, which produces at the nearby Brockham oil field, was also intersected by the Collendean Farm-1 exploration approximately 790 metres north of the Horse Hill-1 well. Using the solely available 2D seismic data and the well results, the operator has mapped an area of closure of approximately 3.8 square kilometres where the Portland Sandstone is above the observed oil down to a depth of 1,901 feet TVDss. The presence of two wells within the same mapped structural closure significantly increases the confidence in a commercial discovery and there is every indication that the Portland reservoir can be developed as a commercial oil field.



The gross oil bearing upper Portland Sandstone interval in Horse Hill-1 measures 102 feet, has an average porosity of over 16% and average oil saturation is estimated as 36%. Based on regional and local trends, confirmed by wells at Brockham, these reservoir parameters indicate a high likelihood of production at commercial rates. The equivalent interval in the Collendean Farm-1 well, drilled by Esso in 1964, shows similar reservoir characteristics over a 97 foot gross interval. The gross oil column contained within the Horse Hill-Collendean Farm structure is in excess of 140 feet.



The lower Portland Sandstone reservoir, which is seen to be water wet in Horse Hill-1 and Collendean Farm-1, lies above the oil down to an untested fault block to the south of the Horse Hill-1 well and is interpreted to contain a prospective most likely in place oil gross volume of 16.8 mmbbls.



The Corallian Sandstone and Great Oolite targets in the Horse Hill-1 well are not seen on electric logging to contain moveable hydrocarbons, however, further evaluation of several thick Kimmeridgian-age limestones, which had hydrocarbon shows and elevated mud gas readings whilst drilling, may provide additional oil potential within the well.



Low, medium and high estimates of Portland oil in place are summarised in Table 1.



Table 1: Estimated gross in place discovered and undiscovered oil volumes



mmbbls, in-place-oil


Low (P90)


Medium (P50)


High (P10)

Discovered


1.5


3.1


4.8

Undiscovered


7.8


16.8


29.7



The gross in place hydrocarbon volumes have been prepared by Stephen Sanderson acting as the competent person on behalf of HHDL.



Volumes have been prepared using the methodologies and standards published by the Society of Petroleum Engineers.



The gross in place hydrocarbon volumes presented should not be considered as either contingent resources or reserves.



Competent Person's Statement:



The technical information contained in this announcement has, for the purposes of the AIM Guidance Note for Mining, Oil and Gas companies, been reviewed and approved by Jonathan Tidswell-Pretorius, Executive Director at HHDL and Chairman of Angus Energy Ltd, a UK registered onshore operator who has 15 years of relevant experience in the oil and gas industry. Mr. Tidswell-Pretorius is a member of the Society of Petroleum Engineers and United Kingdom Onshore Oil and Gas (UKOOG) industry bodies.



Glossary:



2D seismic


seismic data collected using the two-dimensional common depth point method

contingent resources


those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent Resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality

discovered/discovery


a discovery is a petroleum accumulation for which one or several exploratory wells have established through testing, sampling and/or logging the existence of a significant quantity of potentially moveable hydrocarbons

electric logs


tools used within the wellbore to measure the rock and fluid properties of surrounding rock formations

mmbbls


million barrels

oil down to


the deepest level where oil saturation is measured at the base of a porous reservoir where it directly overlies rock of very low porosity and permeability where no reliable oil water contact can be established

oil in place


the quantity of oil or petroleum that is estimated to exist originally in naturally occurring accumulations before any extraction or production

oil saturation


the percentage of available pore space within the reservoir containing oil

P10


a 10% probability that a stated volume will be equalled or exceeded

P50


a 50% probability that a stated volume will be equalled or exceeded

P90


a 90% probability that a stated volume will be equalled or exceeded

porosity


the percentage of void space in a rock formation, where the void may contain, for example, water or petroleum

reserves


those quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations at a given date forward under defined conditions

TVDss


true vertical depth below a subsea datum

undiscovered


those quantities of petroleum which are estimated, as of a given date, to be contained within accumulations that have not been tested by drilling

disappointing sp ending today.. what's the issue ? is it worth staying in ?

http://guerillainvesting.co.uk/2014/10/27/the-horsehill-race-has-just-started/