Cluff Natural Resources Share Discussion Threads

[turbonutter] 01/12/2017 12:29

Map of CLNR Licenses and all local neighbors

All red islands are in production.

[maytrees] 01/12/2017 09:06

Good morning

Added a tiny few at 1.90p - shows as a sell.

There appears to be a 500,000+ share purchase at 1.94p earlier.

[doshdabbler] 29/11/2017 16:00

Red. Crazy day.

[wordog] 29/11/2017 11:59

JOG Farmout timeline

Notification of farm out RNS (18% stake retained by JOG) 23 Aug 16 (SP 34.6)
Deal completed 6 Oct 16 (SP 48.65)
Confirmation of drill commitment 14 Nov 16 (SP 128.5)
CPR updates 27 Mar 17 (SP 260 then spike to 300)

Farm out Highlights

Under the terms of the SPA, Statoil will acquire an aggregate 70 per cent (JOG retaining 18%). working interest in the P.2170 Licence from the Company and CIECO, and will be appointed the designated operator for a total up-front cash consideration of US$2 million, of which US$1.2 million will be payable to Jersey Oil & Gas (the "Initial Consideration").

The P.2170 Licence area contains two medium risk independent oil prospects identified with unaudited estimated mean in place volumes of 300 and 212 million stock-tank barrels ("Mmstb") respectively.

Statoil will fund all costs up to US$25 million in respect of the first exploration well to be drilled on the P.2170 Licence (the "Exploration Well"), with any cost over-runs to be satisfied by each party in proportion to their working interests.
Planning of the Exploration Well is expected to commence this year, with drilling potentially planned for 2017.

All parties will now work towards obtaining the customary regulatory approvals to complete the Farm-out comprising, inter alia, the consent of the Secretary of State for Business, Energy and Industrial Strategy (the "Secretary").

[doshdabbler] 29/11/2017 11:38

Yes, S & D don't usually invest in these types of oil minnow.It can only be for two reasons:1. They're doing Algy a favour2. They sense something seismic is about to happen1. Actually sounds preposterous since Algy is a very rich man who doesn't need personal favours

[bronislav] 29/11/2017 11:27

Spencer and dorfman were a good heads up...Significant buying in my view.tentatively giddy.

[soulsauce] 29/11/2017 11:22

Agree anley we have had enough pain.

[doshdabbler] 29/11/2017 11:18

That would be fantastic Anley

[anley] 29/11/2017 11:17

So my next level of 2.5p is getting near which means there will be some stale bulls who may sell...........then with news before Xmas we may see 4/5p.......that would be a great Christmas for all of us who have stood by this business.

[limited access] 29/11/2017 10:53

Thanks Anley. I'm only occasionally dealing 100/125k odd, and have my main holding intact...and its almost back in the blue!

[doshdabbler] 29/11/2017 10:52

Someone is hoovering up stock today. Bodes well

[anley] 29/11/2017 10:44

I am sticking to what Allenby said about valuation and that was 12p based on a number of reasonable assumptions they made.

One assumption was £1.8m was to be raised but it was £1m and the other factor was a 50% free carry working interest.

For shareholders to sell at this point is pointless as we are still in Option Money time.............roll on CLNR and get the paperwork signed.

[kristini2] 29/11/2017 10:43

The real does have propensity to get somewhat riled when there is No apparent reason !!

[limited access] 29/11/2017 10:39

Not sure what your problem is Unreal! I've no agenda. I'm holding a few hundred thousand of shares and trading a few. Made a few quid last week, but would have made more if I held. But that's my problem. I would concentrate on your own problems mate, as I suspect you have many. For the record I just sold 125409 @2.15p which I had bought in a larger buy at about 1.65 a few weeks back.

[clickon] 28/11/2017 21:14

Thanks dosh I thought I'd seen that some time ago, then I looked today at their web site and they appeared to suggest another party had 10% of that but I think that's probably a bit of confused copywriting

[doshdabbler] 28/11/2017 20:11

18% ClickJersey Oil & Gas is a UK E&P Company focused on building a production focussed company in the North Sea. The Company owns an 18 per cent. interest in the P.2170 licence, Blocks 20/5b & 21/1d, Inner Moray Firth.

[clickon] 28/11/2017 19:05

I am completely confused about what proportion of assets JOG owns after farm out.

[doshdabbler] 28/11/2017 18:07

The cash doesn't run out in Feb/Mar.The Directors expect that the net proceeds of the Subscription will fund the Company through to at least the middle of Q2 of 2018.That's May in my books.

[clickon] 28/11/2017 17:25

The JOG/CLNR equation is complicated, JOG now has 19.95 million shares in issue and as dosh says less in the way of assets, perhaps we could work out a value on a proportional basis - tricky!

[anley] 28/11/2017 16:18

Do you remember my posts from many months ago when I gave the reason why 10p was a good figure based on Allenby figures and a discount on top of that?

Still thinking about how and when to get out and this afternoon I thought that as the year end is DEC 2017 and the cash runs out in and around FEB/MARCH 2018 then that's the time for everything to be announced - Accounts, the Farm-In, Partners and new Licenses.........but it would be nice if there counld be a snippit of further information before Xmas.

[doshdabbler] 28/11/2017 14:53

I mean test 10p.

[doshdabbler] 28/11/2017 14:53

Possibly Anley, but bear in mind JOG had 10m shares in issue and a tiny freefloat. However, on paper, Cluff's assets are rather larger. Hang onto a 20% free carry and we should test 20p

[anley] 28/11/2017 14:20

On 26 Nov post I mentioned I shall be buying again at around 1.5p this has now been increased to 2p and I have topped up at 2.2p this morning.

I had another look at Jersey Oil & Gas - could that happen with CLNR?