Business
Operations Update - Licence P2248
Operations Update - Licence P2248.
About this update from Deltic Energy Plc
[{"type":"text","content":"\n \nRNS Number : 6181G Cluff Natural Resources plc 31 May 2017 \n\n \nThe 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 (\"RIS\"), this inside information is now considered to be in the public domain.\n \nCluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources\n \n31 May 2017\nCluff Natural Resources Plc ('CLNR' or 'the Company')\n \nOperations Update - Licence P2248\n \nCLNR, the natural resources investing company with gas assets in the Southern North Sea, is pleased to provide an operational update on its 100% owned asset P2248, located in the Southern North Sea.\n \nHighlights\n· Further analysis of seismic data has further de-risked the Bunter Sandstone Prospects potentially unlocking a new regional Bunter Sandstone play with significant resource potential at low cost\n· Key risk of the Cadence Prospect has been further addressed with revised fault interpretation resulting in a significantly more robust structure with two potentially independent, lower risk compartments within the larger Cadence prospect now clearly identified\n· Farm-out process for P2248 on-going with encouraging level of traffic through the dataroom with targeted closing of the dataroom during the summer\n \nCommenting CNR's Chairman and Chief Executive Algy Cluff said: \n \n\"The on-going technical work continues to enhance the prospects identified by the Company and directly feeds into the on-going farm-out process. The interest in the dataroom to date has been very encouraging, especially in the context of other regional activities which include a deep Carboniferous exploration well currently being drilled by BP to the south of our licences, the results of which we, and the industry as a whole, are eagerly anticipating. These regional activities could have a significant positive impact on the farm-out process and we continue to monitor their progress carefully.\"\n \nFurther Information \n \nP2248 Bunter Sandstone Prospects \nAs previ...