Appointment of Chief Financial Officer

RNS Number : 0646Z

Cluff Natural Resources plc

08 January 2020

 

Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources

8 January 2020

Cluff Natural Resources Plc ('CLNR' or 'the Company')

Appointment of Chief Financial Officer

Cluff Natural Resources Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea gas basin, is pleased to announce the appointment of Sarah McLeod as Chief Financial Officer ("CFO") of the Company, reporting to the board of directors.

Sarah McLeod has over 20 years' experience in the international oil and gas industry and joins the Company from New Age (African Global Energy) Ltd where she held the role of Financial Controller.  She started her career with Deloitte, spending six years in its oil and gas team during which time she qualified as a Chartered Accountant. She subsequently spent two years at Maersk before joining ConocoPhillips where she spent ten years in a variety of senior financial and strategic roles. 

Sarah graduated from Robert Gordon University in Aberdeen before qualifying as a Chartered Accountant from the Institute of Chartered Accountants of Scotland.

Graham Swindells, Chief Executive Officer of Cluff Natural Resources commented:

"On behalf of the Board I am delighted to announce the appointment of Sarah as CFO.  Sarah brings a wealth of financial and commercial upstream oil and gas experience and knowledge to the role, particularly in relation to the North Sea, which will be invaluable to the Company as we continue to develop. Sarah joins at an exciting time for the Company following the completion of two farm-outs with Shell and will be a key part of the management team as we seek to build on recent achievements and continue to grow the Company."

**ENDS**

For further information please contact the following:

Cluff Natural Resources Plc	Tel: [phone]
Graham Swindells / Andrew Nunn
Allenby Capital Limited (Nominated Adviser & Joint Broker)	Tel: [phone]
David Hart / Alex Brearley / Asha Chotai (Corporate Finance)
Stifel Nicolaus Europe Limited (Joint Broker)	Tel: [phone]
Callum Stewart / Nick Rhodes / Ashton Clanfield
Camarco Ltd	Tel: [phone]
Billy Clegg/James Crothers / Owen Roberts (Financial PR)

Notes to Editors

Cluff Natural Resources is a natural resources investing company listed on the AIM market on the London Stock Exchange (CLNR.L) with a high impact portfolio of operated and, following a farm-out to Shell U.K. Limited in February 2019, non-operated exploration and appraisal assets located within the UKCS's mature hydrocarbon basins.  The Company's diversified portfolio contains near term, infrastructure focussed oil and gas exploration drilling opportunities in both the Central and Southern North Sea together with larger, high impact opportunities in new play types along the northern margin of the Southern Gas Basin.   

The portfolio has a significant P50 prospective resource base in excess of 2.4 TCF (gross, gas equivalent) across a number of prospects with chances of success ranging from 9 to 49%. 

Cluff Natural Resources is focused on extracting much needed gas from the North Sea to supply the UK's energy mix which is currently heavily reliant on foreign supply.  Following a successful farm-out of Licence P2252 and P2437 to Shell U.K. Limited the Company is seeking to repeat this farm-out success with its other licences awarded in the 30^th Offshore Licencing Round including licence P2352 which contains the Dewar oil prospect.

The Company has a strong institutional investor base and a portfolio which offers a unique opportunity of high quality, low risk and low-cost drilling prospects with potentially high impact results in an area where recent exploration has targeted both mature and new plays and has resulted in large discoveries.

 

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