Doriemus - Re: DOR Stream Log - Timings....alba RNS last week..... Follow...

Timings....alba RNS last week..... Follow Proactive 1,522 posts. Date: 11/08/14Time: 10:101Post #: 13798026Start of thread: IP: 0.0.xxx.xxx A syndicate of junior companies could be set to unearth one of the most significant oil projects in the UK, according to broker Dowgate Capital. Via a web of separate transactions the band of small cap firms are funding the Horse Hill well, in Surrey. It has created something of a frenzy among AIM’s speculators – with the shares of several participants already seeing sharp rise even before the drill-bit starts turning. Drilling is predicted to get underway within the next two weeks. Dowgate analyst Jason Robertson reckons a discovery at the upper end of pre-drill estimates would rival the 479mln barrel Wytch Farm field, on the south coast, and could even become one of Europe’s largest onshore fields. Such a result would play a key role in transforming the energy balance in the UK, he adds. The AIM quoted investors in the project include David Lenigas’s UK Oil & Gas Investments (LON:UKOG), Solo Oil (LON:SOLO), Stellar Resources (LON:STG), Doriemus (LONOR) and Regency Mines (LON:RGM). Through a series of separate farm-in deals the AIM firms are taking stakes in the Horse Hill Development company, which is a partner of NASDAQ quoted Magellan Petroleum and will acquire 65% of the asset by drilling the well. Micro-cap miner come oil explorer Alba Minerals is the most leveraged to the potentially high impact Horse Hill onshore well in Surrey, Robertson said. Alba, via its farm-in arrangement, will effectively have a 3.5% stake in Horse Hill, and Robertson sees the drill programme as a significant catalyst. “The imminent spudding of Horse Hill and drilling over 60 days will lead to an intense newsflow period for Alba, along with the other AIM listed companies that hold stakes in the project,” said analyst Jason Robertson. He says news from the well’s first target zone could come after just 13 days from the start of drilling, with two more zones anticipated between day 25 and 34. “As several potential oil/gas layers are being drilled through and given the oil shows encountered previously … [in another well] … the chance of success for Horse Hill-1 may be much better than the UK historic average implies,” the analyst clAIMed. Zooming in on the potential value of a discovery for Alba, which has a market capitalisation of around £2 … mln, Robertson said: “If drilling work starts to encounter oil/gas zones and an economic resource is established, then the shares will obviously rapidly rise to reflect this. “We believe at the mean estimate level, Alba’s shares should trade around 8.9p on a discovery and perhaps up to 17.0p if Magellan’s top end recoverable estimates numbers prove correct