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Operations Update - Licence P2252
Operations Update - Licence P2252.
About this update from Deltic Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8322J Cluff Natural Resources plc 22 August 2019 \n\n \n22 August 2019\n \n \nCluff Natural Resources Plc ('Cluff' or 'the Company')\n \nOperations Update - Licence P2252\n \nCluff 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 and its Operating Partner, Shell U.K. Limited (\"Shell\"), have completed a broadband 3D seismic survey extending to approximately 420km2 over the Pensacola Prospect on Licence P2252 in the Southern North Sea.\n \nThe survey, conducted by Shearwater GeoServices using the Polar Empress, was completed on time and with no health, safety or environmental incidents. Data collection commenced on 4 August and was completed on 21 August with demobilisation commenced shortly thereafter. \n \nThe data collected will now be processed, along with the existing legacy dataset, to pre-stack depth migration ('PSDM') with the final results expected to be received by early Q3 2020, although some interim results may be available before this date. \n \nUnder the terms of the farm-in agreement, Shell are paying 100% of the costs of the seismic acquisition, processing and interpretation work programme until the end of 2020 or until a well investment decision is made. The partnership is still on course to meet the timelines agreed with the Oil and Gas Authority (\"OGA\") and a decision on the contingent well commitment is expected to be taken in the second half of 2020.\n \nCluff holds a 30% non-operated interest in Licence P2252 and the Pensacola prospect which is estimated to contain gross P50 Prospective Resources of 309 BCF in an untested Zechstein Reef.\n \nCommenting, Cluff's Chief Executive Graham Swindells said: \n \n\"We would like to thank Shell and Shearwater for completing a safe and efficient acquisition programme in what were challenging weather conditions for this time of year. The PSDM datasets represent a key step towards the drilling of an exploration well on the Pensacola prospect and we look forward to receiving the final products in due course. While awaiting delivery of the newly acquired seismic data, we continue to work with Shell on lice...