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Extension of Halliburton arrangement could lead to joint venture – Cluff CEO

Algy Cluff, chief executive of Cluff Natural Resources (LON:CLNR), says the extension of an arrangement with Halliburton is a vote of confidence by a large company in CLNR’s  technical staff and the quality of its licences.
“In reality it provides us with access to data and work at cost and hopefully in the future that relationship will mature and could evolve into a joint venture in a context of drilling a hole or holes.”
Cluff says this is a good time to get into the oil business and he is looking to expand his North Sea asset portfolio either by acquisition or by application in any future rounds of oil and gas exploration licences.  If successful the memorandum of understanding with Halliburton would be expanded to embrace those.

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