Independent consultancy firm Xodus Group authored the report on gas resources in Cluff prospects in the southern North Sea, including their wholly-owned P2248 licence.

The Xodus report measured six of the most mature prospects and concluded that the firm counted 4.8 trillion cubic feet of ‘best estimate gas initially in place’ over Cluffs North Sea portfolio. CNR commented that the ‘estimates did not include a number of additional leads and prospects which yet to be fully quantified’

Chief executive and chairman Algy Cluff has said the firm would try attempt to drill the P2248 licence next year.

Mr Cluff said: “The company has been working hard to quantify the potential of the licences we were awarded in the 28th round and this endorsement of the significant exploration potential associated with proven and new play types on our licence P2248 confirms our long held belief that the southern gas basin still has a significant number of large and exciting prospects just waiting to be drilled.”

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