Share Name Share Symbol Market Type Share ISIN Share Description
Cluff Natural Resources Plc LSE:CLNR London Ordinary Share GB00B6SYKF01 ORD 0.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.80 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
0.75 0.85
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -2.36 -0.24 11
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.80 GBX

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Posted at 03/2/2023 08:20 by Cluff Natural Resources Daily Update
Cluff Natural Resources Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker CLNR. The last closing price for Cluff Natural Resources was 0.80p.
Cluff Natural Resources Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 1,405,964,855 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Cluff Natural Resources Plc is ยฃ11,247,718.84.
Posted at 25/6/2020 06:51 by cpap man
Thursday 25 June, 2020
Deltic Energy PLC
Change of Name to Deltic Energy Plc
RNS Number : 9993Q
Deltic Energy PLC
25 June 2020

Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources

25 June 2020

Cluff Natural Resources Plc ('CLNR', 'Cluff' or 'the Company')

Change of Name to Deltic Energy Plc

AIM Rule 26 Website Change

Further to the Company's announcement of 4 June 2020, Cluff Natural Resources Plc, the AIM-quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, is pleased to announce that the Company's change of name has been effected by Companies House and accordingly the Company has changed its name to Deltic Energy Plc.

With effect from 8:00am today, trading on AIM will commence under the Company's new name and the Company's TIDM will be 'DELT.L' (previously CLNR.L). The Company's ISIN (GB00B6SYKF01) and SEDOL (B6SYKF0) remain unchanged.

Shareholders should note that their shareholdings will be unaffected by the change of name and existing share certificates should be retained as they will remain valid for all purposes and no new share certificates will be issued.

In order to reflect the Company's new name, the Company's website will be changed to hxxp:// with effect from 8:00am today. The information required pursuant to AIM Rule 26 will be available at this address.

Graham Swindells, Chief Executive Officer of Cluff Natural Resources commented:

"Following approval at our AGM we are pleased to be able to now confirm the formal change of name to Deltic Energy Plc. The name change reflects a new era for our company, the significant progress made in the last year and symbolises the transition in the Company's main investments into a more operational phase following our farm-outs and ongoing partnership with Shell".

Posted at 23/6/2020 07:49 by anley
The Mail Copy.....................

"The AIM market has been called many things over its 25 years, but rarely risk averse.

The junior market's caricature frontier capitalism has been particularly prevalent among the oil exploration stocks.

While there are notably fewer truly 'transformational' exploration stories than in the past, some do still exist and few opportunities presently seem as underappreciated as Cluff Natural Resources – soon to be renamed Deltic Energy.

Cluff is presently priced at a big discount to its cash holdings and an even bigger discount to its net asset value. Meanwhile, the funding position is secure and sufficient to cover current needs.

Cluff Natural Resources is a small cap explorer focussed on the North Sea, where it is targeting gas resources in the vicinity of existing infrastructure

It is a small cap explorer focussed on the North Sea, where it is targeting gas resources in the vicinity of existing infrastructure.

The company has a partnership with one of the largest oil and gas companies in the world, and, this partner, Royal Dutch Shell, is committed to drill at least two high impact wells in the coming years.

Success in either well will be an instant game-changer for the company. In the meantime, there is an immediate value gap, £13million cash in the bank versus a £9.7million value (at a share price of 0.68p) in the market."

Just give it time ...............

Posted at 17/6/2020 12:45 by cpap man

Chris Brown


White heavy check markFARMOUT WITH MAJOR SHELL

White heavy check mark£15 MILLION RAISED LAST YEAR AT 1.75p WHICH IS A HUGE PREMIUM TO TODAYS share price AT 0.70p

White heavy check markNO DEBT = NO BRAINER


Posted at 04/6/2020 04:55 by a1m1investor
Barnes, CLNR is being pumped on twitter, posting fake information that news is due when we know it isn't in an attempt to pump up the share price. We started to see some big sells appear yesterday and I expect it will happen again today. Just be careful is all, these things generally end up badly...
Posted at 22/5/2020 06:10 by a1m1investor
For those who have never witnessed the carnage an institutional seller does to a shareprice then pull up a seat. Cannacord have 206 million shares left to sell, this will devastate the share price I'm genuinely sorry for all holders but this is the final nail in the coffin here, your investment is now at serious and significant risk.

Not surprising that the Co announced this is as after hours RNS, generally companies do this to try and hide bad news in the hope that large parts of the market will have switched off for the day and miss the announcement. Obviously I can;t say for definite that this was CLNR's motives, so you'll have to form your own opinion on that. Like I said a few days ago, it's also not surprising that Anley appeared on these boards ramping this a few days before bad news announced.

Again, for those who missed it:

Posted at 27/4/2020 08:22 by a1m1investor
Quickly looking into it, it looks the new Co Deltic would need to aquire CLNR to take it private rather than a merger so be on the lookout for that being touted by CLNR BOD as a way of facilitating the name change. I do suspect that CLNR will go private, I imagine they will use the poor share price performance as their reason for doing so, giving them a one of opoprtunity to take the Co private and maximise returns that way blah blah blah. Let's see how it plays out however if the Co goes private the shareholders will not be able to publically trade shares in it.
Posted at 06/3/2020 08:16 by a1m1investor
See no reason that it would be valued below cash. As a guess they have around £14m so so mcap is there or there abouts. Obviously market variance could see this swing wildly either side of this for various reasons.

As I previously stated, there is a risk/theory that the share price could be getting manipulated down by a large holder looking to take the Co private in a somewhat predatory takeover. If they had access to big financial players in the general market then another entity could short the Co, borrowing against the major holder's assets possibly to keep the price low with an aim of getting to a 30% holding at the lowest possible pric. £0% holding then triggers a mandatory offer for the Co. This share price offers some protection for investors gettin in at these levels against that now because the mandatory offer at 30% would need to be the highest price paid in the last 52 weeks which from June onwards is around 1.7p so it leaves some upside if this is the case. Any spikes in price could of course scupper this plan, any good news and/or a sudden increased demand for buying should push the price up and therefore the mandatory price up.

The Co have be all accounts emailed some holders stating they have no intention to do a placing which I was concerned about as part of a plan to allow the major holder to get up to 30% at the cheapest possible price so that looks like it may not be an issue but time will tell whether the Co are good to their word or not. It carries very little weight with me to be honest so we will see what plays out.

Posted at 24/2/2020 06:06 by a1m1investor
Good monring bulletin board monitors, I hope you have your note pads at the ready! I wonder what this week has in store for CLNR shareholders more negative price action? Not long to find out!

If takeover was ont he cards, it doesn;t specifically have to be a reverse takeover, could just be a normal takeover if that was the route they were going down, reverse is still a valid option if that was prefeered route but who knows. Seems a weak arguement that the previouse owner and current major holder in CLNR, who have started a new Co registered in the same city as CLNR are somehow geographically hindered to take over CLNR. Keep talking yourself out of the potential banana skins here if you wish, personally I suggest taking them into serious consideration and adjusting your investment accordingly but I understand how a long bias and a desperation for this to come good affects ones clarity.

What do you think will happen to the share price if CLNR announce a delay to the well investment decision due to more reprocessing work being required? That is a very possible short term outcome here.

Like I've said before, I don;t expect any decision on Dewar at least until after the next round of O&G authority awards in June. Co's will wait to see what they get awarded before bdeciding on taking on anything else and setting budgets.

Posted at 14/2/2020 08:19 by a1m1investor
Again, this is speculation at this point but lets look at an example. Imagine you had a major shareholder of a Co that was well established in the institutional market, a big player with huge market reach. Imagine this player had close ties with the previous owner of the Co and betweern them, they wanted to take the Co private at the lowest possible price? Could the player short the shares through another vehicle against their own holding to drive the price down? They would probably want to increase their holding to 30% so that they had to submit a mandatory offer to take over the Co, or just increase their holding to ensure a vote for say, a reverse takeover, got voted through but how could they get their holding up while keeping the price low? I guess they could wait for another discounted placing to be able to increase their holding and the other vehicle could also close their short position in the placing. As long as the shorting remained within 5% which I understand is the institutional threshold for declarion then it could be argued that no rules are being broken.

I guess the real concern for CLNR holders, is why have we not seen a TR1 declaring who the seller is after all this time. The share price is down over 70% since the highs post Shell announcement and there has been constant selling into any strength on high volume, yet there is no seller coming forward and declaring their position?

Again this is all speculation, but this is what investing is about, speculating. Predatory business takeovers are not unrealistic. Shareholders should be speaking to the BOD and getting assurances from them that this is not the case and what action is being taken to protect the Co from such actions, a market announcement by the Co to confirm that this is not the case would go a long way here. Along with a statement of rebuttal from the major shareholders could pretty much quash the concern there and then so could th Co not arrange for this to happen? Takeover panel requires a minimum offer of the highest paid price in the last 12 months so I guess it could be argued that it would be to the advantage of the predatory co for the share price to stay low for another 6 months or so. What would be the concerns to drive the price lower here, I guess a delay to the well investment decision would not be good, or another discounted placing to fund new licenses.

So, if you wnat to protect your investment, put pressure on the BOD to quash this concern once and for all. Get them and the major holders to put their money where their mouths are and give the market a statement to end the speculation once and for all. Is that too much to ask?? Like I said, this is speculation and possibly a bit of a conspiracy theory at this stage but the logic and motive is clear and therefore not unfounded.

If the Co wishes to contact me directly to make me aware of any facts I have wrong and request to remove any of this info then they can do so via a direct message on this site.

Posted at 25/11/2019 07:45 by cpap man
Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources

25 November 2019

Cluff Natural Resources Plc ('CLNR' or 'the Company')

Operational and Licence Update

Cluff Natural Resources Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea gas basin, is pleased to provide an operational update in relation to its portfolio of UK exploration licences as well as applications for additional licences which have the potential to significantly enhance the licence portfolio.

32nd Offshore Licence Round

Following success in the previous major offshore licensing round in 2018 when the Company was awarded six licences, the Company is pleased to confirm that it has submitted multiple applications for additional licences in the UK Oil & Gas Authority's latest 32nd UK Offshore Licensing Round.

The Company's applications are focussed on its current core operational areas in the Southern Gas Basin and Central North Sea and are designed to be complementary to the existing portfolio. The blocks applied for contain oil and gas prospects that are consistent with the Company's strategy of growing its licence portfolio by:

ยท Identifying and targeting overlooked and/or less well understood opportunities;

ยท Targeting prospects in close proximity to existing infrastructure, thus enhancing the potential for commercial development; and

ยท Creating value through investment in technical work, farm outs and introducing partners with a view to drilling

All of the applications have been made solely by CLNR, with the exception of one which has been made jointly with an established international operator.

UK Oil and Gas Authority ("OGA") guidance indicates that licence awards are likely to take place in Q2 2020. Further announcements will be made in due course.

Success in this licensing round would further expand, enhance and diversify the Company's existing portfolio. The Board views the blocks applied for as being highly prospective with many containing undeveloped discoveries and exploration upside which could significantly enhance both the pipeline of potential drilling opportunities and the overall prospective resources associated with the Company's portfolio.

P2252 - Pensacola (CLNR 30%)

Licence P2252 contains the Pensacola prospect which is estimated to contain gross P50 prospective resources of 309 BCF, with additional upside on the block associated with the Lytham and Fairhaven prospects. In May 2019, the Company completed the farm-out of Licence P2252 to Shell UK Limited ("Shell"). Shell has a 70 per cent. working interest in Licence P2252, with the Company retaining a 30% non-operated interest.

The new 3D seismic survey acquired over the Pensacola prospect in August of this year, along with legacy 3D data over the Lytham and Fairhaven prospects, is currently undergoing pre-processing before being delivered to Shell's in-house processing team early in the new year for further expert analysis and interpretation.

The Board understands that delivery on the final volumes is on schedule for mid-2020 and will be followed by a period of re-interpretation with well investment decision before the end of November 2020.

The Zechstein Reef Play on Pensacola has seen significant activity and successful drilling over the last six months with Rathlin Energy announcing a significant discovery at West Newton, in East Yorkshire, where a 65m hydrocarbon column was confirmed in the West Newton A-2 well. Offshore, ONE Dyas are reported to have recently discovered hydrocarbons in the Darach Central-1 well which was testing both a Zechstein Reef and a deep Carboniferous target.

P2437 - Selene (CLNR 50%)

Licence P2437 contains the Selene prospect which is estimated to contain gross P50 prospective resources of 291 BCF with additional upside on the block associated with the Sloop discovery and the Endymion prospect. Completion of the farm-out of 50% of Licence P2437 to Shell occurred in August 2019.

CLNR and Shell have taken delivery of the most recently processed version of 3D seismic data which has been acquired from a previous licence operator. Both parties are now actively working with the available data and continue to work towards making a well investment decision on the Selene prospect and drilling a well at the soonest possible opportunity.

P2352 - Dewar (Central North Sea) (CLNR 100%)

The Dewar Prospect on Licence P2352 is estimated to contain up to 272 million barrels of light oil (P10 STOIIP) with P50 Prospective Resources of 39.5 million barrels in the Forties Sandstone.

As previously indicated, the Company has been running a farm-out process on the Dewar Prospect which is located close to (<5km) the BP operated Eastern Trough Area Project (ETAP) Central Processing Facility in the Central North Sea. The prospect has generated a significant amount of interest and there are a number of established operators currently in the project dataroom. Now that the 32nd OGA Licensing Round is complete, the Board expects this process to gather momentum and will aim to draw this process to a close in the coming months.

A feasibility study carried out by io oil & gas consulting has estimated the Dewar project to have a post-tax NPV10 of £555 million and a post-tax project IRR of 123%, in a P50 prospective resource scenario.

P2428 - Cupertino (CLNR 100%)

The Company has recently taken delivery of over 850 line kilometres of reprocessed 2D seismic over Licence P2428 which contains the Cupertino prospect. This legacy data was originally acquired in 1992 and has been reprocessed to pre-stack depth migration (pre-SDM) using the latest processing workflows, which has resulted in a significant uplift in image quality throughout the dataset.

This newly reprocessed data is currently being interpreted in house, focussing on the early Carboniferous section which includes the TCF scale Cupertino prospect, as well as new opportunities that the Company has identified in the Zechstein and a possible westwards extension of the Rotliegendes play fairway which may be analogous to the Cygnus field.

Further technical work is required, and the Company will update the market in due course. It is now considered likely that the area will need new 3D seismic data acquired across the prospective areas before a drilling opportunity can be fully defined and to that end the Company will seek to acquire this seismic, ideally by way of farm-out, in 2020.

P2424 - Cortez (CLNR 100%)

The Company is engaging with seismic reprocessing contractors and will seek to commence reprocessing of the legacy 2D seismic dataset over licence P2424, which includes the Cortez Prospect. The Company expects to see a significant uplift in data quality which will help mature the Cortez prospect which has many similarities to the nearby Breagh gas field.

Delivery of the final reprocessed seismic data will be expected within six to nine months following the formal start of reprocessing.

Graham Swindells, Chief Executive Officer of Cluff Natural Resources commented:

"We have made significant investment in this latest licensing round which has allowed us to submit multiple high quality applications in our core areas of the Southern North Sea and Central North Sea where we have already demonstrated success. The blocks applied for contain a number of drilled discoveries, undrilled prospects and leads and, if awarded, will build scale, further diversifying the investment portfolio and significantly enhancing the Company's resource base which we anticipate will create a strong pipeline of future drilling opportunities."

"We are also very pleased with the significant progress being made on the existing portfolio, in particular on the Pensacola and Selene licences, which Shell farmed into earlier this year, as we work towards a firm well commitment on Selene and Pensacola. Furthermore, our farm out process on the Dewar prospect has generated significant interest which we believe will strengthen with the licensing round behind us."

"This is an exciting time for the Company as we continue to deploy our high-impact exploration-based strategy in a sought-after area."

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