LONDON (Alliance News) - Cluff Natural Resources PLC Tuesday said it has been awarded a further three conditional underground coal gasification licences, options for leases and non-exclusive exploration licences for three offshore Deep UCG prospects at Durham North, Durham South and Maryport, totalling 30,393 hectares.
In a statement, the AIM-quoted natural resources investing company said that the licence awards are in line with its strategy to potentially unlock the billions of tonnes of untapped and indigenous coal resources in the UK.
The award came from The Coal Authority, sponsored by the UK Department of Energy & Climate Change.
The three further licences at Durham North, Durham South and Maryport follow on from the five UCG licences the company was awarded in 2013.
"It is well known that coal seams extend into the offshore waters around the UK and the technology now exists to develop the UK's most abundant indigenous energy source. To this end we are in the process of commissioning the engineering and environmental studies required to support planning applications for our first demonstrator projects in the UK," Chairman and Chief Executive Algy Cluff said in a statement.
"Recent world events have further highlighted the major crisis our country faces in terms of future energy security and supply. I firmly believe a well regulated UCG industry in the UK will further diversify our primary energy supply, thereby reducing our reliance on foreign imports and exposure to fluctuations in global energy prices," Cluff added.
Shares were Tuesday quoted up 3.2% at 4.00 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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