CLUFF Natural Resources has been told by the Oil & Gas Authority (OGA) that it will not be granted extensions to two of its 50 per cent held licences in the North Sea.
However, boss Algy Cluff said the licences “represent the least mature assets in our oil and gas licence portfolio and a small proportion of our overall resource base”. Mr Cluff added: “Our primary goal remains to pursue and secure the farm-out of our two most developed 100 per cent held licences, P2248 and P2252, both of which we consider to be highly prospective and have the potential to transform our company.”
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