More gas estimated in Southern North Sea

Shares in Cluff Natural Resources surged after it confirmed a “very significant” resource increase for its Southern North Sea prospect.

Chief executive Algy Cluff said the new figure – up to more than 4.8 trillion ft3 - confirmed his company’s belief that the Southern Gas Basin still has a significant number of large prospects waiting to be drilled.

Cluff shares climbed by 22.47% (1p) to 5.45p after the announcement, and closed.

Mr Cluff added: “The key focus going forward is to attract the required partners and funding to ensure these prospects are fully appraised.”

The prospects excite Algy Cluff.