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Oil Baron Algy Cluff Snaps up Three North Sea Oil Licenses for £1 Each

stander
stander
in Oil, Gas and Energy News

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Cluff Natural Resources has acquired up to a 25 per cent interest in three North Sea oil projects operated by Parkmead Group. It estimates that they could contain 400m barrels of recoverable oil.

Cluff recently told City A.M. that the oil price had finally hit a bottom and would soon start to recover, even warning it could rebound with a vengeance. Brent crude has risen about 50 per cent since falling to multi-year lows in January.

http://www.oilandgaspeople.com/news/7885/oil-baron-algy-cluff-snaps-up-three-north-sea-oil-licenses-for-1-each/

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