CLUFF Natural Resources has said ongoing analysis of its Bunter Sandstone prospects has further de-risked the assets.
It said further analysis of seismic data at the P2248 asset in the Southern North Sea had potentially unlocked a new play with significant resource potential at low cost.
Cluff also said the key risk of the Cadence Prospect has been further addressed with revised fault interpretation resulting in a significantly more robust structure with two potentially independent, lower risk compartments clearly identified.
The farm-out process for P2248 is on-going with, Cluff saying there was encouraging level of interest.
Chief executive Algy Cluff said: “The on-going technical work continues to enhance the prospects identified by the company and directly feeds into the on-going farm-out process.”
He added that the interest Cluff has had in the data it holds on its prospects has been “very encouraging”.
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