A lot of people and companies have already phased in and out of the Horse Hill oil project, which remains at a relatively early stage.
Many faces and names have changed from the initial funding stage, through exploration drilling and subsequent production testing.
Now, investors in London have just two options if they’re to get exposure to the so-called Gatwick Gusher.
Alba holds 11.765% of the underlying Horse Hill project and, according to executive chairman George Frangeskides, it is on-course to benefit significantly as the UK oil field moves closer to commercial development.
“We’re in pretty good shape in the Portland at Horse Hill. It has been a very successful campaign,” Frangeskides said in an interview with Proactive Investors.
Meanwhile, in reference to the results from the deeper and potentially larger Kimmeridge play, he added: “early indications have been very promising.”
Now that the Portland reservoir was now deemed commercially viable, Horse Hill 2 would likely be drilled in 2019.
HH-2 would be a horizontal well, and, importantly, planning and regulatory consents have already been secured.
Any subsequent field development work would, however, need fresh approvals both centrally and with the local planning authority.
Frangeskides noted that, following recent consolidation, Alba is now one of just two London-listed companies with a stake in the Horse Hill Developments (HHDL) vehicle, which owns 65% of the underlying project.
The company’s indirect, beneficial interest in Horse Hill is 11.765%.
“We know the operator has got plans to get it into production, subject to consents and everything else, by next year and obviously we’d be very supportive of that as an objective.
Horse Hill is not Alba’s only onshore oil play.
The company also owns 5% of Brockham, also a part of the South Weald basin.
Here, operator Angus Energy has started to test for oil in the deeper Kimmeridge layers where the activity at Horse Hill is now focused.
Alba, though is not just an oil business.
The company owns extensive mining acreage in Greenland, where recent early stage exploration has indicated decent quantities of a variety of metals.
At Inglefield Land, the Kap Agassiz/ Bear Island target, rock and channel samples returned gold grades of up to 0.65 grams per tonne (g/t), copper grades of up to 1.65% and silver grades of up to 18.6 g/t.
Over at the Four-Finger target, soil samples returned gold grades of up to 0.36 g/t, copper grades of up to 0.18%, silver grades of up to 13.35 g/t and molybdenum grades of up to 0.11%.
In Greenland, Alba also owns the Thule Black Sands licence, which adjoins Bluejay Mining’s Dundas minerals sands project and has a 90% stake in Amitsoq graphite project.
Finally, Alba has also started exploration at the Clougau gold project in North Wales, where it has a 90% stake and where it has recently undertaken geochemical, electromagnetic and magnetic geophysical surveys.
At 0.3p, Alba is valued at just under £10mln.