Cluff Natural to investigate coking coal potential of licences in Cumbria

2015-02-17 03:41:46

(MENAFN- ProactiveInvestors) Uncoventional gas group Cluff Natural Resources (LON:CLNR) has found a potentially large source of coking coal on its licences near the Solway Firth Cumbria.

Consultant Wardell Armstrong has indicated the licences have an exploration target of between 384 mln and 640 mln tonnes based on seven coal seams.

Underground gas (UCG) potential is likely to be offshore Cluff said but it is considering amending its licence to incorporate the conventional coking coal potential.

Algy Cluff CLNR's chairman and chief executive said: "This significant Exploration Target adds an exciting new dimension to CLNR's portfolio of UK energy assets.

“The global outlook for metallurgical and coking coal is predicted to remain steady with substantial upside potential on the back of decreasing supply and increased steel demand as the global economy continues to recover.

“This is reflected in continued interest and exploration investment in delineating new coking coal resources in the UK including the adjacent acreage currently being explored by West Cumbria Mining.

"Significant UCG potential is also likely to exist in the seaward parts of the licence area and will be appraised in conjunction with future drilling programmes."

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