Cluff Natural Resources plc Statement re: Press Comment (5963S)
June 26 2018 - 3:56AM
UK Regulatory
TIDMCLNR
RNS Number : 5963S
Cluff Natural Resources plc
26 June 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
26 June 2018
Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector:
Natural Resources
Cluff Natural Resources Plc ('CLNR' or 'the Company')
Statement re: Press Comment
Cluff Natural Resources Plc, the AIM quoted natural resources
investing company with a high impact exploration and appraisal
portfolio focused on the Southern North Sea gas basin, notes the
recent media speculation and advises that in response to investor
demand and following the Company's recent success in the UK's 30th
Offshore Licencing Round culminating in the provisional award of 10
oil and gas blocks in the Central and Southern North Sea, it is
currently considering the merits of raising additional funding by
way of a new equity issue, primarily to accelerate the development
of the Company's enlarged portfolio of assets.
Neither the amount to be raised nor the issue price have been
finally determined whilst discussions with investors are
ongoing.
There can be no certainty that this fundraising will be
concluded nor as to the timing or terms of such, but a further
announcement will be made as required as soon as possible.
**ENDS**
For further information please contact the following:
Cluff Natural Resources Tel: +44 (0) 20 7887
Plc 2630
Algy Cluff / Graham Swindells
/ Andrew Nunn
Allenby Capital Limited (Nominated Tel: +44 (0) 20 3328
Adviser & Broker) 5656
David Hart / Alex Brearley / Asha
Chotai (Corporate Finance)
Camarco Ltd Tel: +44 (0) 20 37574983
James Crothers / Owen Roberts
(Financial PR)
Notes to Editors
Cluff Natural Resources is a natural resources investing company
listed on the AIM market on the London Stock Exchange (CLNR.L)
primarily focussed on the Southern North Sea gas basin, with a high
impact portfolio of operated, high working interest exploration and
appraisal assets.
In addition to the 30(th) Round licences awarded today, the
Company have 100% of Licenses P2248 and P2252 in the North Sea gas
basin with a significant P50 prospective resource base of 2.4 TCF
across 11 prospects with chances of success ranging from 9 to 49%.
Cluff Natural Resources is focused on extracting much needed gas
from the North Sea to supply the UK's energy mix which is currently
heavily reliant on foreign supply. The Company is focussed on
securing partners and funding to embark on a drilling campaign on
the proven fairways of the Southern North Sea basin in 2019.
The Company has a strong institutional investor base and a
portfolio which offers a unique opportunity of high quality, low
risk and low-cost drilling prospects with potentially high impact
results in an area where recent exploration has targeted both
mature and new plays and has resulted in large discoveries.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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