Awarded Three Additional UCG Licences in the UK
Cluff Natural Resources plc / Index: AIM / Epic: CLNR / Sector: Natural Resources
12 August 2014
Cluff Natural Resources plc ('CNR' or 'the Company')
Awarded Three Additional Underground Coal Gasification Licences
Cluff Natural Resources plc, the AIM quoted natural resources investing company, is pleased to announce that The Coal Authority, sponsored by the UK Department of Energy & Climate Change, has awarded the Company a further three Conditional Underground Coal Gasification ('UCG') Licences, Options for Leases and non-exclusive Exploration Licences for three offshore Deep UCG prospects at Durham North, Durham South and Maryport, totalling 30,393 hectares. This is in line with the Company's strategy to potentially unlock the billions of tonnes of untapped and indigenous coal resources in the UK to help to secure the country's energy supply. CNR now holds eight UCG licences in the UK, covering a total area of 61,274 hectares.
Overview:
· Formal offer received from The Coal Authority for the award of 100% of a UCG Licence at Durham North, totalling 10,052 hectares, at Durham South totalling 10,338 hectares and at Maryport, totalling 10,003 hectares
· All three licences are located in former coal mining areas with signficant historical datasets
· CNR now has 100% working interest in eight UCG licences in the UK, covering a total of 61,274 hectares
· These new licences will be included in the Company's on-going geological review of its portfolio with the aim of selecting the most suitable site for its first UCG demonstrator project
To view a PDF version of the press release with maps of the licence areas click on the following link.
Mr Algy Cluff, Chairman and Chief Executive of Cluff Natural Resources, commented: "I am delighted to announce the award of these three further licences at Durham North, Durham South and Maryport following on from the five UCG licences the Company was awarded in 2013. It is well known that coal seams extend into the offshore waters around the UK and the technology now exists to develop the UK's most abundant indigenous energy source. To this end we are in the process of commissioning the engineering and environmental studies required to support planning applications for our first demonstrator projects in the UK."
"Recent world events have further highlighted the major crisis our country faces in terms of future energy security and supply. I firmly believe a well regulated UCG industry in the UK will further diversify our primary energy supply, thereby reducing our reliance on foreign imports and exposure to fluctuations in global energy prices."
Further Licence Information
Following a formal offer from The Coal Authority, sponsored by the UK Department of Energy & Climate Change, CNR has been awarded three Conditional UCG Licences, Options for Leases and non-exclusive Exploration Licences for two offshore areas off the coast of Durham and an offshore area off the Cumbrian coast adjacent to Maryport. CNR has a 100% working interest in each of these licences.
http://www.rns-pdf.londonstockexchange.com/rns/8370O_-2014-8-11.pdf
*ENDS**
For further information visit www.cluffnaturalresources.com or contact the following:
|
|
Cluff Natural Resources Plc |
|
|
|
|
|
Algy Cluff Graham Swindells
|
Tel: +44 (0) 20 7887 2630 |
|
|
|
Panmure Gordon (UK) Limited |
Tel: +44 (0) 20 7886 2500 |
|||
|
Callum Stewart / Adam James (Corporate Finance) |
|
|||
|
Tom Salvesen (Corporate Broking) |
|
|||
|
|
St Brides Media & Finance Ltd |
|
|
|
|
|
Felicity Edwards Lottie Brocklehurst |
Tel: +44 (0) 20 7236 1177 |
|
|
This information is provided by RNS
Latest directors dealings
- 4 hours ago Johnson Matthey
- 6 hours ago Galliford Try
- 6 hours ago Galliford Try
- 6 hours ago Centrica
- 6 hours ago Smith & Nephew