5 Jul 2019 07:00
5 July 2019
Cluff Natural Resources Plc
('Cluff' or 'the Company')
Appointment of Joint Broker
Cluff Natural Resources Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, is pleased to announce the appointment, with immediate effect, of Stifel Nicolaus Europe Limited as joint broker to the Company, alongside the Company's Nominated Adviser and joint broker, Allenby Capital Limited.
**ENDS**
For further information please contact the following:
Cluff Natural Resources Plc | Tel: +44 (0) 20 7887 2630 |
Graham Swindells / Andrew Nunn | |
Allenby Capital Limited (Nominated Adviser & Joint Broker) |
Tel: +44 (0) 20 3328 5656 |
David Hart / Alex Brearley / Asha Chotai (Corporate Finance) | |
Stifel Nicolaus Europe Limited (Joint Broker) |
Tel: +44 (0) 20 7710 7600 |
Callum Stewart / Nick Rhodes / Ashton Clanfield | |
Camarco |
Tel: +44 (0) 20 3757 4983 |
Billy Clegg/James Crothers / Owen Roberts (Financial PR) |
Notes to Editors
Cluff Natural Resources is a natural resources investing company listed on the AIM market on the London Stock Exchange (CLNR.L) with a high impact portfolio of operated and, following a farm-out to Shell U.K. Ltd in February 2019, non-operated exploration and appraisal assets located within the UKCS's mature hydrocarbon basins. The Company's diversified portfolio contains near term, infrastructure focussed oil and gas exploration drilling opportunities in both the Central and Southern North Sea together with larger, high impact opportunities in new play types along the northern margin of the Southern Gas Basin.
The portfolio has a significant P50 prospective resource base in excess of 2.4 TCF (gross, gas equivalent) across a number of prospects with chances of success ranging from 9% to 49%.
Cluff Natural Resources is focused on extracting much needed gas from the North Sea to supply the UK's energy mix which is currently heavily reliant on foreign supply. Following its successful farm-out of Licences P2252 and P2437 to Shell U.K. Ltd, the Company is looking forward to 3D seismic acquisition over the Pensacola prospect in the summer of 2019 and is seeking to repeat this farm-out success with its licences awarded in the 30th Offshore Licencing Round including licence P2352 which contains the Dewar oil prospect.
The Company has a strong institutional investor base and a portfolio which offers a unique opportunity of high quality, low risk and low-cost drilling prospects with potentially high impact results in an area where recent exploration has targeted both mature and new plays and has resulted in large discoveries.