StockMarketWire.com - Natural resources investing company Cluff Natural Resources, said the UK Oil and Gas Authority confirmed that it had allowed the company to continue the farm out process of its two Southern North Sea Gas licences beyond by the initial May 31 deadline.

The initial term of each licence would continue to run until 30 November 2018, though "a drill or drop decision" is expected by 30 September 2018.

Last year, the UK Oil and Gas Authority agreed to extend the licences by one year to November 30, 2018, provided that Cluff Natural Resources found a farm-out partner by May 31.

This would allow the company to continue the farm out process of its two South North Sea licences, while also exploring various additional forms of financing which would support its ultimate aim of drilling one or more wells on these licences. At 10:17am: [LON:CLNR] Cluff Natural Resources PLC share price was -0.68p at 2.95p



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