By Alex MacDonald
LONDON--Investment company Cluff Natural Resources PLC (CLNR.LN)
said Monday it has made significant progress in the development of
its Southern North Sea gas and underground coal-gasification assets
in the U.K.
Cluff is working with Halliburton Co. (HAL) on a structure to
accelerate the drilling of one or more wells on its conventional
gas licenses in the Southern North Sea, off the coast of the
U.K.
Cluff has five licenses covering 11 blocks in the emerging gas
province.
Halliburton is providing technical and geological assistance in
the development of Cluff's Southern North Sea assets and its
Scottish Kincardine UCG project in the Firth of Forth.
Cluff has a UCG portfolio of nine licenses, which provide
exposure to five different coal basins in Scotland, England and
Wales. The company initially is focusing on developing its
Kincardine Project.
As of 0759 GMT, Cluff's share price was unchanged at 3.25 pence,
resulting in a market capitalization of 6.5 million pounds ($10.1
million).
Write to Alex MacDonald at alex.macdonald@wsj.com
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