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Breaking - Gas cheer for Cluff: announcement imminent

By Robert Tyerman | Wednesday 2 December 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


North Sea-focused Cluff Natural Resources (CLNR) is understood to be poised to announce encouraging gas reserve figures for its licences in the southern North Sea’s Lytham Field. Steered by seasoned resources entrepreneur and former owner of the Spectator magazine Algy Cluff, the company, whose shares have fallen from a 12-month high of 4.87p to 3p on energy price weakness and delays to its underground coal gasification (UCG) project in Scotland, is thought by observers to have established potential reserves of more than 800 billion cubic feet, which could be worth between $20 million (£13.3 million) and $40 million.


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