Im not sure TBH, my feeling was that he means the company will transform rather than making a new company. Alternatively we could see a share split with UCG and conventional companies set up but it wouldn't make sense given the additional costs involved in listing and running two companies.
Hi BOTAK, this is confusing and he has alluded to this when the company was first set up ( seems like a lifetime ago ) Possibly if he acquired some international oil and gas prospects he would create a separate company. Wordog what do you think ? Regards
Not to sure on his intentions when he states “The next twelve months may well see the creation of a new generation Cluff hydrocarbon company,” the chairman added. Is this another PLC apart from CLNR for the Offshore NS assets ? whilst CLNR USG on the back burner
Probably one of the best written RNS I have ever seen, got to love Mr Cluff. Disappointing that progress on the Kincardine project has been postponed due to a lack of political clarity. But it's a fair decision to wait until the application can be properly submitted, thus preventing wastage a la SXX after their first tragic attempt a few years back.
The North Sea asset is looking better now, the climate is still tough but with a known discovery in place and the technical backing from Haliburton we might just find a partner.
The newest development is the negotiations with other nations for exploration blocks, Algy is going international.
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