Cluff Natural Resources

Oil & Gas

Oil pioneer Cluff’s firm undervalued by almost £40m

06/07/2016

The oil and gas investment company led by entrepreneur Algy Cluff is undervalued by almost £40million, a new report says. Cluff Natural Resources’ (CNR) current market capitalisation, which denotes the value of its outstanding shares, is £3.2million, according to the London Stock Exchange. The Aim-listed company’s shares, which reached 4.4p at one point last July, currently sit at 1.2p.

Renewables/Energy Transition

Cluff insists Scottish UCG plans not dead in water

08/01/2016

North Sea oil pioneer Algy Cluff insisted yesterday plans for unconventional gas extraction in the Firth of Forth were not dead. He was speaking after his company said it was switching its “primary focus” away from the firth to pursue underground coal gasification (UCG) projects in England, and conventional oil and gas developments in the North Sea. Green groups which recently led a protest against his Scottish UCG plans said it was a “massive victory” for campaigners but the issue would not be buried until his firm handed back its UCG licences.

North Sea

North Sea due for a renaissance, Cluff says

08/01/2016

Oil pioneer Algy Cluff said the North Sea is on the cusp of a renaissance after heralding his company’s plans to divert more of its resources to the area. Mr Cluff said Cluff Natural Resources had already made rapid progress in developing its five conventional oil and gas licences in the southern North Sea, aided by a collaborative agreement with energy service giant Halliburton.

Renewables/Energy Transition

Cluff brands new UCG research wasteful following government moratorium

09/10/2015

A North Sea oil and gas pioneer yesterday urged the Scottish Government not to squander taxpayers’ money on further research into underground coal gasification (UCG). It comes after the government slapped a moratorium on UCG and appointed a scientist to carry out an independent assessment into the potential impacts of the technology. The government also widened the scope of research that is being conducted into fracking, which was the subject of a separate planning ban introduced in January.

Renewables/Energy Transition

Oil pioneer Cluff says coal gasification “fits in” with Scottish Independence concept

26/08/2015

Oil pioneer Algy Cluff said yesterday his company’s plans to tap coal reserves under the Firth of Forth were in keeping with the concept of Scottish independence. And in announcing the first half results for Cluff Natural Resources (CNR), Mr Cluff criticised the previous UK Government’s support for North Sea windfarms. Mr Cluff, chairman and chief executive of CNR, said large windfarms blocked access to gas fields and sucked up taxpayers’ money.

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