Deltic Energy Share Discussion Threads

[barnes4] 03/6/2024 12:30

In discussions with more than one counter party!

[nigelpm] 03/6/2024 12:21

Agreed. And more likely they'd have given a month. 12th indicates they are well within at least one process and that process has a clearly defined timeline.

[oilretire] 03/6/2024 12:13

Also, 12th being a Wednesday is very random but specific deadline at the same time.

[oilretire] 03/6/2024 10:51

ONE dyas is an obvious candidate, surely they would love to increase from 5% at a bargain price.

[bountyhunter] 03/6/2024 08:58

Maybe, if the price was right that might not be a bad thing. Having said that are we fully carried on Selene? If the case we should probably hang on to that, again depends on price I guess?

[sawney] 03/6/2024 08:06

To include Selene..?

[bountyhunter] 03/6/2024 07:49

Shell allowing more time ...for a deal with Shell?

[talkman2] 03/6/2024 07:48

The annoyance is that they could probably have raised money at 20-25p when the share price was around 38p . It’s now at 12p . The board have really screwed this up . Let’s see what rabbit they pull out of the hat . I can’t see Michael Spencer seeing his significant investment going down the toilet

[apotheki] 03/6/2024 07:40

Pensacola Update

Deltic Energy Plc, the AIM-quoted natural resources investing company with a portfolio of operated and non-operated exploration and appraisal assets in the UK North Sea, provides the following update in relation to Licence P2252 and the Pensacola discovery.

Deltic has been granted a short period of additional time from Shell UK Ltd, in its capacity as Licence Operator of P2252, which will allow Deltic until 12 June to progress discussions with potential counterparties in relation to a possible transaction. There is however no guarantee that discussions will be concluded successfully within that timeframe and, in such circumstances, Deltic will be required to withdraw from the Pensacola licence and transfer its interest in Pensacola to its Joint Venture partners.

The Company will make further announcements in due course.

[ih_321630] 03/6/2024 07:37

Why don’t they just buy the company out at around 20p

[talkman2] 03/6/2024 07:37

sorry , discounted

[talkman2] 03/6/2024 07:36

Also , The market has totally discontinued the Selene drill which is next month and priced in armageddon for Deltic .

[nigelpm] 03/6/2024 07:22

That's promising in my view. Clearly must have made decent progress for shell to allow a bit more time. Terms will likely be terrible but if they can get something out of it that will be a result.

[sawney] 03/6/2024 07:05

A little more time...
Better than a poke in the eye...at least they're still in the game...at the moment...doubt they'll end up with much but something is better than nothing....

[sawney] 01/6/2024 16:54

Yeah...the pseudo Torieshave been bad enough....but we're talking about the soon to be idiot "czar"...Ed Miliband...he WILL be a walking energy disaster for the UK

[cashandcard] 01/6/2024 14:20

Sawney,Agree in as much as removal of capital allowances will kill it dead. However, in order to keep current participants in the North Sea, and compete with emerging basins, or sub basins in many parts of the world, you have got to let them make money. Because companies don't just want a capital allowance, they need to be able to make a healthy return, commensurate to the increased levels of risk they are exposed and dwindling levels of opportunity remaining in places like NS.As Alan Booth, former CEO of Encore oil said; undiscovered oil and gas pays no taxes. With the exit of these majors, alot of exploration/appraisal dollars are disappearing aswell.It's insanity.Cash

[apotheki] 01/6/2024 10:00

TGR is one example of a shareholder action group fast gaining traction!

[barnes4] 01/6/2024 09:48

A shareholders action group forget it
Never seen a successful one yet

[sawney] 01/6/2024 09:08

It's the removal of capex investment allowances that will kill the North Sea dead...93%..??
Labour have still not defined what they intend to do...without it nobody can budget..
It's just political gross incompetence..
Have Shell been given any guarantees about Pensacola/Serene...?...if not, I could see them walking away as well....
It's just Labour insanity..and they haven't even got into No 10 yet....

[cashandcard] 31/5/2024 23:37

Folks, it's getting to a stage where those who remain invested, may want to think about forming a shareholders action group. The company in its current form, with current assets, will really struggle to raise money. If they somehow do manage to, it's likely going to dilute current holders to oblivion. Until then it's death by a thousand cuts.Management need to consider, rationally, whether it's better to selloff these assets or atleast change the strategic area of focus away from North Sea - because this is the problem all North Sea pure plays are facing, the fallout of the windfall tax regime.It really does not bode well that the Big Brothers of the industry, the oil majors, are reducing exposure or exiting NS entirely. Something needs to be done fairly quickly to stem the tide.Cash

[cashandcard] 31/5/2024 14:20

Maybe. But I'm not sure they are selling out fully. My understanding is they are selling older, maturing production assets that are no longer competitive under the windfall tax regime or just not worthwhile pumping more investment into.The question is would they ditch growth assets?Cash

[jpodtrading] 31/5/2024 13:49

If Shell are exiting the North Sea, as suggested in recent news articles.. could they ditch Pensacola as well? Could Deltic end up with 100%?I briefly tried to find details of the farm out earlier but didn't manage it.

[currypasty] 31/5/2024 13:11

mcap £11m what is it worth as is?

[shinnas] 31/5/2024 13:03

Another 12days before zero...given the rate it is falling.

[mickinvest] 31/5/2024 09:52

So what's the script here?

I presume if they can't get carried or sell their stake for Pensacola, then after Selene is drilled, it's unlikely to be a bigger field than Pensacola so presume they'll be in the same position with Selene subject to it being a successful drill and end up with nothing?