Report outlines gas potential in Cluff’s North Sea licenses

Cluff Natural Resources has issued findings of a competent persons report on four of its licenses in the UK southern North Sea.

Offshore staff

LONDON– Cluff Natural Resources has issued findings of a competent persons report on four of its licenses in the UK southern North Sea.

Axis Well Technology, an independent oil and gas consultancy firm, assessed the potential resources as follows:

P2252 (Cluff 100%, ‘promote’ license) – Lytham and Fairhaven prospects

Best-estimate unrisked gas initially in place (GIIP) of 233 bcf: previous wells on Lytham and Fairhaven indicated gas inZechstein and Carboniferous intervals.

There could be further upside of up to 479 bcf associated with a previously untested Zechstein Carbonate play, analogous to producing Zechstein reservoirs in the Netherlands.

P2261 (100%, promote) – Clachnaharry and Williamson leads

Best-estimate GIIP of 104 bcf, with upside potential for 247 bcf (the Clachnarry trap extends into another license). The Carboniferous sequence is also thought to be prospective based on recent discoveries atPegasus West and Crosgan.

P2253 and P2248 (100% interest, promote)

Best-estimate GIIP of 608 bcf. The Carboniferous geology may be capable of hosting numerous traps analogous to those discovered at Pegasus West, which tested at more than 90 MMcf/d, and Crosgan.

Early last year Cluff entered into a memorandum of understanding with Halliburton to help accelerate the development of these assets. This input culminated in the publication of the competent persons report.

Cluff is now starting on the next phase of technical evaluation with a view to identifying drilling targets, and is seeking one or more partners to fund its forward work programs.

01/08/2016

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