Cluff Natural Resources Share Discussion Threads

[james1955] 14/8/2019 18:52

yellowdog, the news didnt do anything for the share price .. everybody already knew shell would complete this deal... weve had 2 pieces of news over the last 2 weeks, both have resulted in a lower sp

[yellowdog] 13/8/2019 13:51

Shell have today completed the farm in to the 'Selene" prospect with a well to be drilled asap.

This is great news and should be a catalyst for a substantial increase in the share price.

[anley] 13/8/2019 09:00

Everyone to his opinions....................

[oilbuy] 11/8/2019 13:35

Ok lets not argue.I agree with you. AIM is news and sentiment driven. Drilling , its a good bit down the road and the uncertainty in the market will not help the current market cap here.I like the assets and the geo political stability of the north sea , with the added advantage of infrastructure in place. Hence my interest but as of yet I'm not invested but keeping a close eye. This type of play is a longer term hold in my opinion.

[james1955] 11/8/2019 11:39

oilbuy "James your one of theses guys who likes to argue with people. Im done wasting my time with you."

The problem is you are somewhat guilty of provoking the type of debate you dont want to have.

you said "Where do I talk as if the 15M is revenue ?"

Then when I respond, you just tell me I am arguing...

Anyway I dont want to go down that route because I agree with you its pointless and a waste of time.

I feel that when I posted earlier that it took 25 months to farm out our first licences, I was correct and backed it up with proof.

As CLNR has scheduled most news for H2 2020 its likely that the share price will decline, my estimate to around .075 - .1p area.

All aim stocks decline in periods of no news, its just how it is.

But we could get some random news or dewar could be farmed out much sooner, but who knows.

[oilbuy] 11/8/2019 10:09

The Hongkong situation is having a damaging effect on the gobal economy. Buyer be aware.https://www.google.com/amp/s/www.wsj.com/amp/articles/spiraling-clashes-risk-pushing-hong-kongs-economy-into-recession-11565356605

[oilbuy] 11/8/2019 10:06

https://oilprice.com/Energy/Energy-General/Gloomy-Oil-Markets-Just-Got-Gloomier.htmlInstitutions are always first to sell. They don't care about making a 20/30% loss as it's not their money.

[barnes4] 11/8/2019 09:15

Me neither

It doesn’t necessarily take 2 years to farm out a licence

It has in the past but this isn’t necessarily a guide for the future it depends how sought after the licences are I guess

[oilbuy] 11/8/2019 08:53

James your one of theses guys who likes to argue with people. Im done wasting my time with you. Your first response to my post mentions companies cash + shareholding less then market cap. I said the value of a holding in shares will always be less than cash as you have to liquidate stock and you will not got the same value on paper in hard currency. Its not rocket science.The 15M is capex anybody can see that.Of course the money will be spend. My point being they have it.I won't be responding again to your nonsensical argument with me.This is precisely why I rarely post.Good luck you need it !

[james1955] 11/8/2019 01:41

oilbuy "Where do I talk as if the 15M is revenue ?"

when you say things like

"Better to have the cash in the bank to spend. Puts the company in a stronger position when doing deals."

The £15m cash is for a specific purpose, not to put the company in a stonger position for other deals or to "spend" on random stuff.

you can argue revenue makes a co stronger, dont think the same applies for cash raised for a specific task.

"stick to facts." I have backed up by my referenced RNS's



barnes4 "What about P2437???"

I could not find a specific date of commencment for P2437 and it also was not mentioned throughout the multiple extentions required for P2252 2248...


how did you calculate it took only 3 months?

"But please can you post reference the above"

what ref shud I post? not sure what you mean.

[oilbuy] 11/8/2019 00:42

My point about the 15M cash is it's quite possible it's going to get harder to raise as recession fears strengthen. Interest rate cuts , oil consumption lower , 10 year bonds negative as to 3 month bonds positive. The yield curve has now become inverted !Better to have the cash in the bank to spend. Puts the company in a stronger position when doing deals. Nobody said it would last forever but you cant operate without it.

[oilbuy] 11/8/2019 00:36

I heard what you said James. Theres no written rule but dont compare 15M cash to 15M stock. Where do I talk as if the 15M is revenue ?Its just been raised with a placing. Its capex.Its pritty obvious this is an exploration company hoping to produce in the future as a minority shareholder in certain fields. It will also not hold the purse strings as its a non operator with the farmout to shell etcGood luck with your investment and stick to facts.

[barnes4] 11/8/2019 00:02

James you are quite correct once it’s gone it’s gone

They need to strike commercial gas on one of both licenses

[barnes4] 10/8/2019 23:54

I am not referring to P2248 or 2252 for that matter

What about P2437???

Farm outs can take years or only a few months it all depends

No need to ramp or deramp as it matters not

But please can you post reference the above

Thanks

[james1955] 10/8/2019 23:32

oilbuy, its you who is getting semantical, like I said just becuase the company has £15m cash it doesnt mean mcap must be equal or above.

As I said before the £15m cash we have is for specific purposes, its not free float to spend on anything.

Refering to RNS 5/6/19 "The net proceeds of the Fundraising will be used to fund the Company's share of well costs on the Selene (Licence P2437) and Pensacola (Licence P2252) prospects targeting a combined 238 BCF of net P50 Prospective Resource; to invest in advancing its other North Sea licences and potential future licence awards; and for general, working capital and corporate purposes."

You can bet more than £10m of that £15m will be spent on Selene/Pesacola.

You talk as though the £15m is revenue from operations... it isnt. once its gone its gone.

[james1955] 10/8/2019 23:26

barnes4 here is the RNS proof to backup my previous statement that the recent farm out took 25 months...

19/10/16 RNS titled "CPR on Licence P2248..." : "Commencement of formal farm-out process"

31/5/17 RNS titled "Operations UpdateLicence P2248" : "Farm-out process for P2248 on-going with encouraging level of traffic through the dataroom with targeted closing of the dataroom during the summer"

28/11/18 RNS titled "Exclusivity Agreement & Licence Extensions" : "CLNR is pleased to announce the signing of an exclusivity agreement with a major international oil and gas company Six-month Initial Term licence extensions granted for P2252 and P2248 licences to 31 May 2019"


There you have it 19/10/16 to 28/11/18 = 25 months.
However as it wasnt fully signed and over the line, it could be more accurate to say it took 28 months, see below RNS.


8/2/19 RNS titled "Farm out of licences to Shell U.K. Limited" : "Has entered into a binding, conditional farm out agreement and a three month exclusive option with Shell in relation to Licences P2252 and P2437.
In relation to Licence P2248, the bidder has been unable to demonstrate the necessary financial capacity to fund the forward work programme"


Furthermore, P2448 completely failed to get a farm in partner, 25/28 months wasted.

But hey barnes4 dont let FACTS get in the way of your ramping carp.

[barnes4] 10/8/2019 22:47

I think the previous farm out took approx 3 months P2437

But why let this spoil your deramping trying to get in cheaper carp

[oilbuy] 10/8/2019 22:30

James - lets not get into semantics. You cannot compare 15M worth of stock which needs to be liquidated if cash is to be accumulated to having 15M in cash IE : 15M worth of stock on paper is not 15M in cash especially if its in the small cap sector.My point being .5p equates to 4M below cash. This doesn't even take assets into account.Im not invested here but like North sea assets. Just keeping an eye in. I just dont like people being disingenuous. In my opinion having the 15M cash at this moment in time will turn out to have been a wise bet by management. Wish you guys well here.Reminds me of Encore oil.

[james1955] 10/8/2019 21:59

.075 - .1p is a more realistic target.

Most(if not all) news is officially scheduled now for H2 2020...

Previous farm out took 25+ months, we are only 6 weeks into commencement of the dewar farm out...

[james1955] 10/8/2019 21:57

oilbuy, do you know that the cash a company has doesnt directly correlate to the marketcap?

Which means despite CLNR havng £15m, the mcap doesnt need to reflect it. I can give you multiple companies which hold £25m in stocks of another company(todays sp), Plus £2m in cash + assets, yet their mcap is only £15m...

Anyway aside from this the £15m cash CLNR have is for specific tasks, it wont last forever, probably by next year most will be gone - it is documented in the RNS I have forgot it.

[oilbuy] 10/8/2019 03:38

Please explain this statement you have made ?Heading to .5p.5p is £4M below cash !

[barnes4] 09/8/2019 21:52

Quite right and so it should

[lesbo lizzie] 09/8/2019 19:37

Heading to 0.5p