Business
Expiry of Option
Expiry of Option.
About this update from Deltic Energy Plc
[{"type":"text","content":"\n \nRNS Number : 6585W Cluff Natural Resources plc 13 February 2017 \n\nCluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources\n \n13 February 2017\n \nCluff Natural Resources Plc ('CLNR' or 'the Company')\nExpiry of Option\n \nOn 10 May 2016, the Company announced that it had entered into an option with Verus Petroleum (SNS) Ltd (\"Verus\") to acquire a 25% interest in licences P1944 (Block 14/20e) and P2156 (Block 15/11 & 16f) located in the Outer Moray Firth which contain the Fynn and Penny prospects (the \"Option\") which was exercisable within a period of nine months.\n \nAs uncertainty exists as to the likely timing of any drilling activity on this licence, the Company has not exercised the Option and an extension to the Option has not been entered into. Accordingly, the Option has lapsed.\n \nThe Company continues to focus its efforts on further developing its portfolio of assets, in particular its two 100% owned licences (P2252 & 2258) in the Southern North Sea.\n \nCommenting, CLNR's Chairman and Chief Executive Algy Cluff said:\n\"Our primary focus continues to be the farm out of our highly prospective licences in the Southern North Sea Gas basin. Whilst this process is still at a relatively early stage, it has got off to a very encouraging start and since opening the data room the prospects have attracted a significant level of interest from established North Sea operators.\"\n \n**ENDS**\n \nFor further information please visit www.cluffnaturalresources.com or contact the following:\n \n\n\n\n\nCluff Natural Resources Plc \n\n\n Tel: +44 (0) 20 7887 2630 \n\n\n\n\nAlgy Cluff / Graham Swindells / Andrew Nunn \n\n\n \n\n\n\n\n \nAllenby Capital Limited (Nominated Adviser & Broker) \n\n\n Tel: +44 (0) 20 3328 5656\n\n\n\n\nDavid Hart / Alex Brearley / Asha Chotai (Corporate Finance)\nChris Crawford / Katrina Perez (Corporate Broking) \n\n\n \n\n\n\n\n \nSt Brides Partners Ltd &nbs...