CNR Awarded 11 Licences in the UK's 28th Offshore Licensing Round

Source: www.gulfoilandgas.com 11/7/2014, Location: Europe

Cluff Natural Resources Plc has provisionally been awarded eleven promote licences by the Department of Energy and Climate Change (DECC) on the UK Continental Shelf in the UK's 28th Offshore Licensing Round.

The specific licence blocks provisionally awarded to CNR are as follows:
- 41/5, 41/10, 42/1
- 42/14b
- 43/3, 43/4, 43/5
- 43/7, 43/8, 43/9
- 43/11

All of the blocks are located in the Southern North Sea in close proximity tothe Breagh Gas Field. The Company believes this isan under-explored, emerging area which is potentially responsive to the latest seismic and drilling technology, where fields can be developed quickly and infrastructure is evolving rapidly.

Algy Cluff, Chairman and Chief Executive of CNR, commented: "I am delighted to report that DECC has provisionally awarded CNR these new licences within the Southern North Sea area of the UK. Whilst CNR already has a portfolio of eight offshore Underground Coal Gasification ('UCG') Licences totalling 61,274 hectares in the UK, securing eleven North Sea licences is a major achievement for our Company and further establishes our position as a natural resources focussed investing company and reflects our commitment to the UK and to the North Sea. This Company has a particular interest in the conventional gas sector as well as a determination to safely and cleanly convert offshore coal to gas."


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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