Cluff Natural Resources upbeat on start of 3D seismic at Pensacola

Natural resources investing company Cluff Natural Resources announced on Monday that operator Shell UK has started a 3D seismic survey over the Pensacola Prospect on Licence P2252 in the Southern North Sea.

The AIM-traded firm said the survey was being conducted by Shearwater GeoServices using the Polar Empress, with field operations expected to take approximately two weeks to complete.

It said the vessel arrived on site on 2 August, with data acquisition beginning on Monday.

The seismic acquisition would be followed by a period of data processing, with final results expected to be received early in the third quarter.

Cluff holds a 30% non-operated interest in Licence P2252, including the Pensacola prospect, which was estimated to contain gross P50 Prospective Resources of 309 billion cubic feet in an untested Zechstein Reef.

“Our participation in this seismic survey represents the first field operations for Cluff and is clearly an important milestone in the development of the Company as it pursues its ambition to become one of the leading exploration companies operating in the UKCS,” said Cluff chief executive officer Graham Swindells.

“The Pensacola prospect is an exciting opportunity, worked up by the Cluff team, and the acquisition of high quality modern 3D seismic over the prospect is a key step in de-risking future exploration drilling activities.”