🕐26.05.15 - 14:27 Uhr

ALLENBY CAPITAL RESEARCH ON CLUFF NATURAL RESOURCES: CNRS NORTH SEA APPRAISAL PR
OCESS GATHERING MOMENTUM



Good afternoon, Please see attached a research note published by Allenby Capital today on Cluff Natural Resources (AIM:CLNR) as its North Sea appraisal process gathers momentum. Allenby Capital analyst Peter Dupont said, “CLNR has made considerable progress in de-risking its pioneering UCG (underground coal gasification) project at Kincardine, Scotland since being awarded the licence in 2013.

While the company continues to work towards submitting a planning application for the Kincardine pilot plant by end 2015, the Southern North Sea natural gas exploration assets are now increasing in significance as they are evaluated.

The assets are located in an emerging Carboniferous and previously overlooked Permian Zechstein play zone which has hosted several large discoveries in recent years.

We expect a technical update to be released for the North Sea assets in the coming months and a Competent Persons Report on one or more of the licences by end 2015.

Thereafter, CLNR should be in a position to market the prospects to potential farm-in partners having thoroughly assessed prospectivity.

Development of the North Sea assets offers the potential for quicker returns than the longer lead time Kincardine UCG project.” If you are interested in meeting Cluff Natural Resources then please get in touch. Kind regards, Lottie
[cid:image003.jpg@01D097B6.61125DA0] Lottie Brocklehurst St Brides Partners 3 St Michael’s Alley, London, EC3V 9DS www.stbridespartners.co.uk Tel: 0207 236 1177 | Mob: 07917010468 | Twitter: @StBrides1







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