Cluff Natural Resources Share Discussion Threads

[clickon] 21/2/2016 03:01

I've had less waffle in a pack of waffles, too much inaccurate speculative theorising.

[anley] 19/2/2016 17:55

An interesting interview and from it comes TWO huge questions for the future of Mr Cluffs business:

1 Will or does this government accept the concept of UCG and does Mrs Rudd the minister push UCG within the energy mix that the UK needs?

If we accept that 20 coal power stations are to close within the next few years and that wind energy will only represent 15% (see Mr Conn of Centrica statements yesterday) then this government needs to make some statement as to how UCG can help.

A YES or NO from CLNR will help at this stage.............

2 From what Mr Cluff says in his YouTube interview then a "Major Partner" is required to push CLNR's proposition forward as quickly as possible based on the needs this country has in regard to energy.

It is good that Halliburton are involved on a cost basis but at the moment the City is scared of the word oil even if CLNR are not quite in that market. There is talk that North Sea exploration should attract lower tax rates - perhaps 28% - to get the whole area moving again. Perhaps the March Budget will have a surprise and if the share price moves around the 2p level between now and the Budget date I will buy a few more.

[liquid millionaire] 19/2/2016 17:15

Dear Proactive Investor

Cluff Natural Resources can still ‘phone a friend’ after it extended an arrangement with Halliburton, which provides in the oil and gas minnow with access to expertise and insight that would otherwise be out of reach.

An existing memorandum of understanding has now been extended for two years.

“It allows us to us that expertise as a sounding board and a peer review, which is great for a small company because you wouldn’t normally have that resource,” chief operating officer Andrew Nunn explained to Proactive Investors.

Our Stocktube channel, meanwhile, spoke to Algy Cluff who aside from discussing the Halliburton arrangements also gave us his views on Scotland’s moratorium on unconventional gas, ‘broken assurances’ from the SNP and told us what he thinks of the possibility of a BREXIT.

In other small cap news, aircraft leasing firm Avation (LON:AVAP) is predicting a “significant” increase in second-half revenues as it delivers additional planes.

Gold and silver miner Mandalay Resources posted record sales in 2015 despite lower metal prices hitting revenues in the final quarter.

And, AFC Energy signed a strategic engineering partnership and services agreement with a consultancy to “support the optimisation and roll-out” of AFC’s alkaline fuel cell system.

We also had in depth looks at immunotherapies, an emerging treatment, with the help of Scancell’s Dr Richard Goodfellow.

Mining expert Alastair Ford put the spotlight on Noricum Gold, which is bringing on the newly acquired Bolnisi gold project, in Georgia.

Meanwhile in the oil and gas sector, Jamie Ashcroft underlined the reasons behind investors recent excitement in Providence Resources and AIM’s other Ireland focussed explorers.

[proactivest] 19/2/2016 15:22

Video interview with CEO Algy Cluff



Algy Cluff, chief executive of Cluff Natural Resources (LON:CLNR), says the extension of an arrangement with Halliburton is a vote of confidence by a large company in CLNR’s technical staff and the quality of its licences.
“In reality it provides us with access to data and work at cost and hopefully in the future that relationship will mature and could evolve into a joint venture in a context of drilling a hole or holes.”
Cluff says this is a good time to get into the oil business and he is looking to expand his North Sea asset portfolio either by acquisition or by application in any future rounds of oil and gas exploration licences. If successful the memorandum of understanding with Halliburton would be expanded to embrace those.

[anley] 19/2/2016 11:29

Last section............what have Halliburton said concerning the cost of well construction etc.............that is what we should know?

Either it is NOT feasible with current gas prices or both parties are playing a waiting game for gas prices to go back up hence the 2 year extension..........

Halliburton is one of the world's largest providers of products and services to the energy industry. the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir ..........................

to drilling and formation evaluation, well construction and completion, and optimising production through the life of the field.

[anley] 19/2/2016 11:03

Indeed CONDOM.....but we need to be synical and searching if we want to make money from CLNR.

Yesterday was an interesting day. Centrica/B Gas reported their results but there were a few comments which caught my eye............

Mr Conn the new CEO warned the UK government that it must reform its energy capacity especially as 15% of the new capacity would be from wind farms. That is fine when the wind blows but leaves us with nothing when it does not blow.

The other comment concerned securing investment in new gas plants..........and for me there remains the doubt. Because the only new gas plant to obtain a subsidised price is in doubt. This is not good news for CLNR as there are no new power stations being built......or am I wrong?

On the assumption that CLNR has gas deposits what is the cost to extract it? Centrica has written off capital invested in its North Sea assets and CLNR has a block liciense next door. Someone posted a few months back that CLNR would hand back their licenses and this, at the moment, looks to be the case.

If the extraction/development capital can not be surplied by CLNR then how do we shareholders benefit.........royalty income or another scheme?

So here are important questions to be debated but the fact remains that never once have we heard from CLNR as to the economics on how profits will be made but only a weak PR statement saying that Halliburton will be around for a little longer.........not good enough.

Finally .....what have Halliburton said so far to the board of CLNR?

In the meantime the shares are only worth - cash in bank and the value of the AIM quote unless Mr Cluff wants to sell to someone else who has the funds to exploit all the licenses the company has.

I shall buy a few hundred pounds worth as it is a very good AIM gamble.

That is how I see matters at the moment..........

[condom2] 19/2/2016 08:37

Something bullish for a change unheard of in the Aim resources sector !!

[liquid millionaire] 19/2/2016 07:50

Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources
19 February 2016
Cluff Natural Resources Plc ('CLNR' or 'the Company')
Two Year Extension of Memorandum of Understanding with Halliburton

Cluff Natural Resources Plc, the AIM quoted natural resources investing company, is pleased to announce that it has entered into a further memorandum of understanding ('MOU') with Halliburton Manufacturing and Services Limited ('Halliburton'), one of the world's largest providers of products and services to the energy industry, to collaborate on the development of CLNR's Southern North Sea gas assets as well as its Underground Coal Gasification ('UCG') assets, for a further two years. The Company anticipates that working with Halliburton will continue to facilitate the development of its five Southern North Sea gas licences which are located in close proximity to the Breagh Gas Field and to facilitate the development of CLNR's portfolio of nine UCG licences which provide exposure to five different coal basins in the UK.

The MOU continues to reflect CLNR's and Halliburton's desire to establish areas of possible joint collaboration in the development of the Company's Southern North Sea gas and UCG assets ('the Joint Collaboration'). Such areas of Joint Collaboration will include the acceleration of the development of knowledge and capabilities of CLNR in relation to its assets, technical consultation and the provision of technical and consultancy services and projects by Halliburton.

In due course the parties intend to enter into a separate written agreement(s) in relation to the services to be provided by Halliburton. The MOU will remain in place until 5 February 2018, unless terminated in advance by either party providing 30 days' written notice.

Algy Cluff, Chief Executive & Chairman commented: "We are delighted to be announcing the extension of our MOU with Halliburton for our UK gas and UCG assets and are excited about the prospect of continuing to develop our strategic relationship. Halliburton is one of the world's largest providers of products and services to the energy industry and its expertise and capabilities offer our company the opportunity to accelerate the development of our assets. The extension for a further two years reflects the strength of the relationship that has been built in the last year and the commitment to develop this strategic relationship further."

[clickon] 18/2/2016 21:27

As before Algy makes a statement only when there's something to say. The rest of the time he just gets on with it !

[anley] 18/2/2016 10:03

What is next............news or liquidation?

[flyingbull] 01/2/2016 18:02

The February oil stock challenge is still on....deadline for entries is midnight on Tuesday.

[anley] 14/1/2016 12:24

Back at my desk and all I can say is MR Cluff has done what I would have done - cut expenses in these markets and await a recovery.

Tuck these shares away as no one has made a "bean" out of them - not even the board whoe's options will soon be "under water".

That is the oil/gas market............and by the way did you all read about the money that was due late last year.........no one was prepared to cough up - just as I predicted.

[clickon] 07/1/2016 14:25

Good show !

[liquid millionaire] 07/1/2016 07:45

Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources
7 January 2016
Cluff Natural Resources Plc ('CLNR' or 'the Company')
Pre-close Update

Cluff Natural Resources Plc, the AIM quoted natural resources investing company, is pleased to announce a pre-close update for the financial year to 31 December 2015:

In the course of the year, the Company has moved its primary focus from its Underground Coal Gasification ('UCG') assets (in particular the development of its Kincardine Project in Scotland) to developing its portfolio of five conventional oil and gas licences in the Southern North Sea. This was precipitated by the introduction of a moratorium on UCG in Scotland in October 2015 despite previous assurances the Company had received from the Scottish Government. The moratorium will remain in place, pending a government study and public consultation, which is expected to conclude in spring 2017. While the Company is confident that the evidence in relation to UCG will result in the moratorium being lifted, it has stopped all expenditure related to the Kincardine Project and is now focussing its attention outside of Scotland, in particular the North East of England, where the Company believes the political situation is more favourable with regards to UCG and considerable support exists for investment in energy and industry with a view to regeneration. CLNR has a total of nine UCG licences in the UK of which six are based in England and Wales and are therefore not subject to the moratorium.

The Company has however made significant positive progress in advancing its North Sea assets which were awarded in December 2014. In early 2015, the Company entered into a memorandum of understanding with Halliburton, one of the world's largest providers of products and services to the energy industry, to collaborate and accelerate the development of the Company's assets. This relationship has developed in the course of the year and Halliburton has provided an invaluable level of technical input into the Company's assets and continues to do so. This progress culminated in the publication of a Competent Persons Report and estimate of prospective resources which was announced in December 2015 and which demonstrated significant gas potential.

Funding

Further to the announcement on 12 October 2015, the Company is still owed £331,125, which was due in September 2015, from the subscriber for 7,791,188 shares in the Company's placing earlier in the year (the 'Placing'). The Company believes that it is now unlikely that the funds will be forthcoming and accordingly is considering its next course of action.

Despite this, early action to curtail major costs associated with the Company's UCG project at the Kincardine Project, coupled with an on-going discipline and focus on overall cost control, means that the Company was in fact in a stronger cash position at the 2015 year-end than anticipated at the time of the Placing. At 31 December 2015, the unaudited cash position of the Company was £1.1 million.

Outlook

The Company will continue to focus on further maturing its technical understanding of its North Sea assets and position the business for the longer term. The Company has relatively low work commitments associated with its licences and no debt and therefore believes it is comparatively well positioned to prevail in this oil price environment and even benefit from opportunities arising as a result of the challenges currently being experienced in the sector.

The Company is already in the process of commencing the next phase of technical evaluation with a view to ultimately identifying drill targets. Marketing has started and attracting and securing one or more industry partners to fund forward work programmes, including the drilling of one or more wells, will become a key focus in 2016.

Commenting, CLNR's Chairman and Chief Executive Algy Cluff said: "2015 was a challenging year for the natural resources sector as a whole, however we were extremely pleased to be able to announce the completion of an independent assessment of the prospectivity of our portfolio of Southern North Sea licences which confirmed the excellent potential associated with previously acknowledged discoveries as well the significant upside that exists. We continue to work to develop our understanding of the potential of the Carboniferous and the Zechstein Carbonate plays we have identified while working on a detailed appraisal programme for the Lytham discovery to gather the missing data required to de-risk this potential future development.

"With no debt or major work commitments, CLNR is in a comparatively strong position to take advantage of opportunities which may arise given the challenging oil price environment. Our objective now is to complete the process of attracting the partners required to fully appraise the production potential of these exciting assets."

[anley2] 22/12/2015 15:50

Mr Cluff does have a great deal of experience but CLNR needs capital to pay the directors fees etc as well as Haliburton. If all goes well the company needs a huge sum to be able to execute its business plans..........so the question is how will Mr Cluff pull this off in 2016.

That for me is what I have been asking for many months while still being a large shareholder for the best part of 2 years.

[clickon] 21/12/2015 23:34

Quite frankly there is no point speculating about any of this. The change of emphasis to the Southern North Sea and new oil potentials is timely after the hold up with UCG.All this takes a while given the complexities and the state of the energy market. I am pleased with this change of emphasis.What will be will be ! Mr Cluff has a great deal of experience.

[p1nkfish] 21/12/2015 21:57

Can't remember the names but I think there are a couple of others I have stumbled across in tbe past.

[p1nkfish] 21/12/2015 21:54

Look at the share register!

[anley2] 21/12/2015 18:16

As I thought.........and....not quite as you say...........

"The Loan will be provided equally by the Alphagen Volantis Fund Limited and the Alphagen Volantis Catalyst Fund Limited, acting through its investment manager, Alphagen Capital Limited (formerly known as Henderson Alternative Investment Advisor Limited), part of Henderson Global Investors ("Henderson", or the "Lenders")".

and then you have the big share discount..........

"In addition, 39,866,107 options shall be issued to the Lenders on execution of the Loan Agreement (the "Options"). The exercise period for the Options is two years from execution of the Loan Agreement; therefore the Options will expire on 5 October 2017. The exercise price shall be the lesser of the closing share price of the Company's depository interests trading on AIM on the trading day prior to the execution of the Loan Agreement, being 7.75 pence per share (the closing price on 2 October 2015), or a 20% discount to the 60 day Volume Weighted Average Price for the Company's depository interests trading on AIM for the period commencing on 28 September 2015".

Thanks nevertheless for drawing this to our notice but its Hendersons investment trusts and not the fund manager doing this.

[p1nkfish] 21/12/2015 17:04

Anley, Henderson do. Look at ESG. In black and white. No arguing with what Henderson have done there.

[anley2] 21/12/2015 14:50

No HENDERSON do not do that sort of deal.........it will be a placing at a big discount to help out those that had to pay 4.25p many months ago. That is how the City does it...........

[p1nkfish] 19/12/2015 10:40

Loan from Henderson or one of their affiliates?

[anley2] 18/12/2015 10:25

Well, since my last post we now know that this government is FOR fracking. That is indeed good news but for CLNR which must be getting cash strapped we need to hear what Mr Cluff's latest plans are.

[anley2] 15/12/2015 10:54

You are quite right but in the case of CLNR we really do have a special situation and at today's price Mr Cluff has a difficult job.

On one hand the SNP have stuffed him then the latest NSR is weak and now the climate change people want companies like CLNR to stop business and go bust.

However, there is no chance this country and its government will stop the development of fracking, as an example, for if they do then all bets are off and you might as well sell and move to a warm climate such as OZ or SA!!!!

[kristini2] 15/12/2015 10:29

Not sure technicals work much with these illiquid AIM stocks, this AIM market should come with a strong government health warning !!! You WILL seriously lose all of you money, you are better punting on EIS & VCTs and taking the tax reliefs than investing in these........

AIM index down 20% + since lauch in 1995, is there a worst market anywhere ??

I doubt it, maybe the Iraqui special Sits Index...