Cluff Natural Resources plc announced a “substantial” increase in the prospective resources for its wholly owned P2248 (Block 43/11) license, located in the Southern North Sea gas basin, following the completion of a technical evaluation and competent persons report by Xodus Group.
Across the company’s total portfolio, the aggregate Best Estimate gas initially in place and P50 prospective resource is estimated to have increased to 4.8 trillion cubic feet and 2.5 Tcf respectively, not including a number of additional leads and prospects which have yet to be fully quantified, according to Cluff.
“We are delighted to be able to confirm this very significant increase in the company’s prospective resource base following a thorough independent review,” said Cluff’s Chairman and Chief Executive Algy Cluff.
“The Company has been working hard to quantify the potential of the licenses we were awarded in the 28th Round and this endorsement of the significant exploration potential associated with proven and new play types on our License P2248 confirms our long held belief that the Southern Gas Basin still has a significant number of large and exciting prospects just waiting to be drilled,” he added.
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