KEYFACT Energy
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, is pleased to announce that further to the provisional award of licences in the UK's 30th Offshore Licencing Round announced on 23 May 2018, it has now received and accepted the formal award by the UK Oil and Gas Authority of the six licences covering a total of 10 full and part blocks.
The licences and blocks awarded to CLNR are as follows:
|
Region |
Licence |
Equity % |
Blocks |
|
Southern North Sea |
P2424 |
100 |
42/14 42/15b |
|
P2428 |
100 |
43/7 43/8 |
|
|
P2437 |
100 |
48/8b |
|
|
P2435 |
25 |
47/10d 48/6d |
|
|
Central North Sea |
P2352 |
100 |
22/24f 22/25g |
|
P2384 |
100 |
22/19f |
The formal start date of each of the licences is 1 October. The initial phase of each licence will be 4 years, other than licences P2424 and P2428 where the initial phase will be 3 years.
With the exception of blocks 47/10d and 48/6d (where The Parkmead Group are operator) all blocks have been awarded to CLNR on a 100% equity position.
The Board views these blocks as highly prospective with many containing undeveloped discoveries and exploration upside which significantly enhances both the pipeline of potential drilling opportunities and the overall prospective resources associated with the Company's portfolio.
Southern North Sea Awards
The Southern North Sea blocks awarded to CLNR contain a number of drilled discoveries, undrilled prospects and leads with an estimated combined unrisked P50 prospective resources of approximately 1.9 TCF net to CLNR. The firm work programme associated with Phase A of the initial term of the licences is restricted to data acquisition, reprocessing and sub-surface studies, and is focussed on providing greater clarity around prospect volumetrics and risk.
|
Blocks |
Key Prospect ID |
Prospect Age |
Status Lead/Play/Discovery |
Net Prospective Resources (BCF) |
GCoS (%) |
||
|
P90 |
P50 |
P10 |
|||||
|
42/14 42/15b |
Furasta |
Triassic
|
D |
7.2 |
17.6 |
29.6 |
100 |
|
Burbank |
P |
70 |
200 |
567 |
32 |
||
|
Cortez |
Carboniferous
|
L |
24 |
107 |
433 |
29 |
|
|
Cortez South |
L |
129 |
331 |
732 |
28 |
||
|
43/7 43/8 |
Cupertino - Scremerston |
Carboniferous |
L |
69 |
262 |
914 |
21 |
|
Cupertino - Fell Sst |
L |
147 |
558 |
2,090 |
19 |
||
|
48/8b |
Sloop |
Permian
|
D |
7 |
18 |
38 |
100 |
|
Selene |
P |
191 |
253 |
328 |
38 |
||
|
Endymion |
L |
36 |
48 |
62 |
27 |
||
|
Rig & Jib |
L |
11 |
29 |
58 |
35 |
||
|
47/10d 48/6d |
Bob (Teviot) |
Permian |
D |
2.75 |
5.5 |
10.25 |
100 |
|
Blackadder |
P |
17.75 |
28.25 |
42.5 |
45 |
||
|
TOTALS** |
712 |
1,857 |
5,304 |
|
|||
*Volumes and risks from P2107 Relinquishment Report.
** Totals are not compliant with PRMS standards and rounded to nearest BCF.
Central North Sea Awards
Blocks 22/24f (part) & 22/25g (part) are located in a relatively under explored area of the Central North Sea, adjacent to the large Marnock-Skua field. The blocks contain the Tesla Discovery (well 22/24a-11) in the Pentland Formation and the low risk Dewar prospect in the Forties Sandstone. Previous Operators have also proposed leads in the deeper Jurassic formations which require further assessment during the initial phases of the licence.