Business
Two Year Extension of MOU with Halliburton
Two Year Extension of MOU with Halliburton.
About this update from Deltic Energy Plc
[{"type":"text","content":"\n \nRNS Number : 5172P Cluff Natural Resources plc 19 February 2016 \n\nCluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources\n19 February 2016\nCluff Natural Resources Plc ('CLNR' or 'the Company')\nTwo Year Extension of Memorandum of Understanding with Halliburton\n \nCluff Natural Resources Plc, the AIM quoted natural resources investing company, is pleased to announce that it has entered into a further memorandum of understanding ('MOU') with Halliburton Manufacturing and Services Limited ('Halliburton'), one of the world's largest providers of products and services to the energy industry, to collaborate on the development of CLNR's Southern North Sea gas assets as well as its Underground Coal Gasification ('UCG') assets, for a further two years. The Company anticipates that working with Halliburton will continue to facilitate the development of its five Southern North Sea gas licences which are located in close proximity to the Breagh Gas Field and to facilitate the development of CLNR's portfolio of nine UCG licences which provide exposure to five different coal basins in the UK.\n \nThe MOU continues to reflect CLNR's and Halliburton's desire to establish areas of possible joint collaboration in the development of the Company's Southern North Sea gas and UCG assets ('the Joint Collaboration'). Such areas of Joint Collaboration will include the acceleration of the development of knowledge and capabilities of CLNR in relation to its assets, technical consultation and the provision of technical and consultancy services and projects by Halliburton. \n \nIn due course the parties intend to enter into a separate written agreement(s) in relation to the services to be provided by Halliburton. The MOU will remain in place until 5 February 2018, unless terminated in advance by either party providing 30 days' written notice.\n \nAlgy Cluff, Chief Executive & Chairman commented: \"We are delighted to be announcing the extension of our MOU with Halliburton for our UK gas and UCG assets and are excited about the prospect of continuing to develop our strategic relationship. Halliburton is one of the world's largest providers of products and services to the energy industry and its expertise and capabilities offer our company the opportunity to accelerate the...