Cluff Natural Resources Share Discussion Threads

[wordog] 31/5/2017 18:33

Interesting point on licence commitments and relinquishment. We have seen in both onshore (shale) and offshore that the government has extended licences quite freely given the current climate and some of the policy level impacts on exploration. There's a good chance they would be allowed to extend. Interesting Anley that you seem confident they have some early possible candidates already. Thanks for the update

[doshdabbler] 31/5/2017 18:27

Incidentally, Anley, I was under the impression renewing licences with the OGA was straightforward. IOG has done it time and time again. Why the urgency on this issue?

[therealdeal5] 31/5/2017 18:20

Cheers Anley that all sounds about right mate, very useful information! 👍

[doshdabbler] 31/5/2017 18:18

I'd rather have a JV see us through to production, but a Plan B involving deferred rig funding or a strategic investor are certainly possibilities. Algy should be able to find a way.

[kristini2] 31/5/2017 18:05

algy could fund the £5m personally easily, what's his net worth anyone ?

[clickon] 31/5/2017 17:43

Id give one of the rig companies a share, and just pay personnel costs

[clickon] 31/5/2017 17:39

Casinos have punters who throw away millions in an evening, I know of one guy who dropped £20million in one evening. Under £5 million is peanuts in this business!

[clickon] 31/5/2017 17:33

Much appreciated Anley thank you very much I saw him back in 2012 and found him a very dignified and professional performer. What makes you feel he has something up his sleeve?

[anley] 31/5/2017 16:33

CLICKON........yes he did and that is where the mention of under £5m was mentioned - the cost of drilling. He was asked about loosing the two licenses and if no drilling or no real effort (don't hold me to the latter) then licenses could be forfitted and that would be towards the end of 2017.

So in a way the government not issuing another round of licenses until 2018 pushes the company into looking at all topics and issues with urgency.

Mr Cluff will move heaven and earth to drill but I believe he has an ace up his sleeve and besides the de-risking is also a help so that will make raising capital (if CLNR has to) easier.

The 3 principal directors are indeed well versed as is the ex-Centrica director in all aspects of costs etc and in fact the drilling costs are somewhat depressed which is a help with rigs etc as everything is currently available.

But keep in mind that this is what I call their Plan B.

Plan A is a partner.............

[clickon] 31/5/2017 15:51

ANLEY Did he say how he envisaged drilling to keep the licences in the next 4 to 5 months if there was no farm-in partner, was that just equity issue. I thought the license ran out in November?

[doshdabbler] 31/5/2017 15:49

Thanks for taking the time Anley. I believe the risk/reward to be compelling and it looks like you do too since you took some more.

[bronislav] 31/5/2017 15:45

Thanks ANLEY for update.

[clickon] 31/5/2017 15:37

ANLEY Thank you very much.

[clickon] 31/5/2017 15:37

WORDOG Thank you very much.

[maytrees] 31/5/2017 15:28

Down to 2.70p to buy - PIs more risk averse?

[anley] 31/5/2017 14:51

The first issue we all need to understand is the UK Energy Policy of this government and its impact. Therfore it is very unlikely that the next round of North Sea licenses will not be issued until 2018. That was the first piece of news Mr Cluff delivered at the AGM and he was not a happy bunny.

The meeting went on to question the two licenses and it was clear that CLNR had to drill or loose the licenses. Mr Cluff mentioned a figure (under £5m) where the P2248 would be the first target and action could take place in the next 4/5 months if there was no farm-in deal. That would preserve ownership and make the company more valuable.

Yes there was interest in what BP is up to (in harder rock) whereas CLNR was in (soft rock) thereby reducing drilling costs and all this information is being made available to interested parties. The BP area is near CLNR P2248 so who knows what will come out of this as BP are slow in drilling...........but it seems that there is a great deal of gas in these areas.

Because information and costs are being developed all the time it was clear that CLNR are close to one or two suitable partners. However, it will come down to how the pie is cut up and one share mentioned recently went up substantially on a farm-in deal. This could be the case with CLNR so I have decided to top up again at 2.725 BUT please keep in mind that the action could start after summer or drag on until early 2018............so the choice is yours as to how long you hold these shares.

One shareholder asked that if a few million were raised again could the ordinary shareholder be involved........Primary Bid was mentioned so we shall have to see....... but there may be a way to drill without new funding and one stockbroker who was presant mentioned this..........again we shall wait and see but Mr Cluff wants to make this business a success and not be put off by this government and its weak policy on Energy.

[anley] 31/5/2017 13:58

I am back from the AGM and please give me time to comment on the Released PR news and what happened at the AGM.......say one hour!

[wordog] 31/5/2017 11:59

No idea when drilling results for BP would be released, spudded in 5 Dec 2016, thats a long time.

[wordog] 31/5/2017 11:48

Source BP.com

The North Sea is an important region for BP where it expects to sustain a significant business for the long term.

BP North Sea expects to grow production for UK assets to around 200,000 barrels per day by 2020, with an exciting set of future investment and renewal options capable of sustaining a material business into the 2030s.

Along with its co-venturers, BP has invested at record levels in the UK North Sea.

In 2016, BP is expected to spend around $2bn in capital investment and $1.6bn running its operations.

BP is expecting important new oil production from its major projects Quad204 and Clair Ridge in early 2017 and 2018 respectively.

Over the next 18 months, BP plans to participate in up to five exploration wells in addition to potentially drilling about 50 developments wells in the North Sea over the next 3-4 years.

BP is also investing significantly in the reliability and integrity of existing assets through an extensive renewal programme.

[bronislav] 31/5/2017 11:28

Interesting timing of the rns and it could well be that algy has given us a clue this morning re farmin partner /deal.If his clue is genuine then it looks like we await developments elsewhere..The BP drill may not only confirm something for cluff but could also confirm something for BP relative to cluff..in relation to trading any accumulator would try to do it as under the radar as possible and I believe this has been the case with the spread moving accommodate this gradual accumulation..I could be totally wrong but one can only make an assumption based on official news and any past experience.

[thehotticket] 31/5/2017 10:38

I am only stating facts as I see them.

I don't see these major purchases in the background so cannot comment on validity.

Would 10p be nice

Yes

[clickon] 31/5/2017 09:51

Hi Anley if you get a chance at the AGM could you ask what they think of the BP play and the likelihood of a good result and when they expect that. Are people waiting for that before they make a decision?Thank you.

[overthebridge] 31/5/2017 09:38

carboniferous gas play in southern North Sea block 43/26a that, if successful, could open up a new phase of development in the region.bp hold 85% interest started drilling in December

[bronislav] 31/5/2017 09:34

I suspect the result of the BP drill may well be a catalyst for our farmin deal..Watching trading over the last few months it's clear to me that a deal is a "when,not if" scenario backed up by the accumulating that is in progress.