Stranded in Burkina Faso by the 2010 Icelandic volcanic eruption while deprived of cigars, books and the assorted pills required by the over-70s, Algy Cluff decided the time was right to return to the North Sea.
A North Sea pioneer is set to “take advantage” of low oil prices by buying up rights to 100million barrels of oil and gas for just £1.
Cluff Natural Resources has signed a deal with Verus Petroleum acquire a quarter share in three licences in the Central North Sea and the Moray Firth.
Cluff Natural Resources has signed a two year extension with Halliburton to collaborate on the development of its underground coal gasification assets for a further two years.
Cluff Natural Resources (CLNR) is to pursue unconventional opportunities south of the border following the Scottish Government's moratorium on Underground Coal Gasification.
Oil tycoon Algy Cluff warned Scottish ministers the day after a moratorium on fracking was confirmed that Scotland could risk losing £250million of investment. The multi-millionaire warned energy minister Fergus Ewing and Alex Neil that including his plans for underground coal gasification (UCG) in the moratorium would have an impact on Cluff Natural Resources (CNR) ability to “operate and invest” further in Scotland. CNR has ploughed ahead with plans to develop Britain’s first offshore UCG project in recent times, despite opposition from environmentalists, who feel the methods used are unsafe and require further testing.