RE: Cluff Natural Report27 Nov 2017 18:43
Now that the Licences have been securely extended to Nov 2018, CLNR are in a stronger position to farm-out.
"Both the Promote Period and the Initial Term of each licence will run until 30 November 2018, subject to a farm-out being achieved by 31 May 2018 and a drill or drop decision being made by 30 September 2018"
so 6 months to farm-out but remember talks have been ongoing with major oil and gas companies for months so could literally happen before year end.
20 Sep 2017
"Over recent months an intensive farm-out process has been undertaken as a prelude to drilling"
"There has been an 'encouraging response to the farm-out process' and a 'dialogue is ongoing with a number of major oil and gas companies."
"We continue to believe there are grounds for optimism that a free-carry farm-in deal can be achieved in the coming months."
file:///C:/Users/8570w/Downloads/research-cluff-nat--resources_21_1900272738.pdf