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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Deltic Energy Plc | DELT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.50 | 6.90% | 7.75 | 08:14:51 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 7.25 | 7.25 | 7.75 | 7.25 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 03/11/2024 17:50 by cat33 Weekend DELT write up from Jim https://oilman.beehi |
Posted at 31/10/2024 14:09 by bri15 She'll will drill for more Gas now so more opportunity for Delt to profit from this,I reckon we only just getting started. |
Posted at 31/10/2024 07:13 by mirabeau though volume estimates have been cut. what is commercially recoverable and its commercial value (25%) relative to DELT's market capitalisation. Is the sale value of DELT 25% greater than £7m? |
Posted at 24/10/2024 11:56 by cashandcard Apotheki,Pensacola was given away as they had no way of funding it and also no one would pay anything for it given the disaster that is UKCS oil and gas policy.Selene maybe big, it maybe close to infrastructure so tie-into sales in 2-3years, but how are DELT going to pay their share of costs exactly??? That is where they have no way forward, if they cannot get financing for it, the industry will just wait until DELT is very low on cash and cannot meet cashcalls, thus forfeight their rights.Why would it be any different? There are no white knites in this oil and gas environment.Cash |
Posted at 15/10/2024 06:46 by apotheki Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural ResourcesChief Executive Officer Change/Succession Deltic Energy Plc announces that Graham Swindells, the Company's Chief Executive Officer ("CEO"), has informed the board of his intention to step down as CEO, effectively immediately, and that he will be succeeded by Andrew Nunn, the Company's current Chief Operating Officer ("COO"). Andrew joined Deltic in 2014 and has been COO since 2015. Andrew is a geologist with over 25 years of experience working on exploration projects across Europe, Africa and Australasia. In his role as COO of Deltic, Andrew has led the successful development of the Company's exploration portfolio and has been instrumental in securing licences and multiple farm outs to world-class partners. Andrew was also key to the origination and maturation of the Pensacola discovery and the Selene prospect, where drilling operations are ongoing. Mark Lappin, Chairman of the Company, said: "Graham will leave with the profound thanks of the board for his commitment and contribution to Deltic over the last 11 years, initially as CFO and more recently as CEO. Under Graham's leadership, Deltic was transformed into a company with an attractive portfolio of licences along with world-class partners, positioning it at the forefront of UK exploration. I am delighted to confirm Andrew's appointment as Chief Executive Officer. The combination of his experience, knowledge and commercial acumen makes him the ideal person to take the business forward." Commenting, Graham Swindells said: "Despite the recent challenges presented by the UK's political and fiscal environment, I am proud of what we have achieved in establishing Deltic as one of the UK's leading explorers. As the team seeks to extract the maximum value from the existing UK asset base and rebuild a portfolio focussed outside of the UK, now is the appropriate time for me to hand over the role of CEO to Andrew who I have had the pleasure of working alongside for the last 10 years and believe is an outstanding successor." Andrew Nunn comments: "Graham has led Deltic through some of the toughest and most volatile times I've ever experienced in this industry. Our small team has delivered what would have been, at any other time in the industry's history, a company-making success with the Pensacola discovery. Deltic has the potential for a second major discovery at Selene where drilling operations are ongoing. Our progress to date has been carefully watched and recognised by our industry peers. We anticipate shortly announcing a series of measures to reduce the Company's overheads. It will then be our job to capitalise on that hard-earned reputation and credibility as we look further afield to find value for shareholders. The initial focus will be on identifying and accessing those opportunities which deliver immediate, or very near term, cash flow while we incubate those high-impact exploration opportunities that will always be part of Deltic's DNA." |
Posted at 27/9/2024 15:35 by ohisay Indeed .This would have bounced even more today but for that 6m overhang having to be absorbed . Bizarrely having completely exited a fairly large position in April after the results (as I posted here at the time) at circa 35p as I remember.I now find myself with the same position at an average of 5.6p. I'd no intention of doing this but there is nothing in the price today for a success case at Selene which back in the day was always worth more than Pensacola. This is a non stranded asset unlike Pensacola with a success case of 15mboe net to DELT on a 70% COS. Cannacord have basically valued this at 5$/boe . Its gas of course but even if you halve this its worth £30m to DELT. You can keep derisking because its a binary bet here for sure but this is as good a punt as I've seen in a while. DYOR and all IMHO. |
Posted at 23/7/2024 07:03 by apotheki Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural ResourcesSelene Drilling Operations - Rig Mobilisation Deltic Energy Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, is pleased to announce that the Valaris 123 drilling unit has been mobilised and is on route to the Selene well location. Shell UK Ltd ("Shell"), in its role as Operator of Licence P2437, has informed Deltic that the Valaris 123 drilling unit was mobilised on 21 July from its current location in the Central North Sea, and is anticipated to arrive at the Selene well location in the Southern North Sea shortly, depending on weather conditions encountered during transit. Drilling operations are expected to commence shortly thereafter, with planned operations lasting approximately 90 days. The Company will make a further announcement once drilling has commenced. The well is designed to collect all key information in relation to reservoir quality and gas composition that is required to support, assuming a successful drilling outcome, a field development plan and final investment decision on the potential development of the Selene gas field without the requirement for a further appraisal well. The Joint Venture has therefore determined there is no requirement for a full well test as part of that process and, in line with normal oilfield practice, the well will accordingly be plugged and abandoned on completion. Deltic estimates the Selene structure to contain gross P50 prospective resources of 318 BCF (P90-P10 Range of 132-581 BCF with GCoS of 69%) in the Leman Sandstone reservoir, which is the key reservoir interval in all adjacent gas fields including Barque, Clipper and West Sole. Following farm-outs to Shell in 2019 and Dana Petroleum (E&P) Limited ("Dana") in February 2024, Deltic is fully carried for its 25% working interest in the Selene well up to a gross success case well cost of USD$49M, which is in excess of the Operator's success case well Authorisation for Expenditure of USD$47M. |
Posted at 17/4/2024 06:40 by apotheki Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural ResourcesFinal Results Deltic Energy Plc ("Deltic" or the "Company"), the AIM-quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern North Sea ("SNS") is pleased to announce its audited results for the year ended 31 December 2023 ("FY 2023") and that it has released an updated corporate presentation. The corporate presentation is available on the homepage at the Company's website: www.delticenergy.com Highlights · Drilling of Pensacola prospect resulted in the largest discovery in the Southern North Sea in the last decade, at the upper end of our pre-drill estimates · RPS Energy Ltd ("RPS") independently assessed Pensacola on the basis of a combined gas and oil case, estimating a gross 2C contingent resource of 72.6 mmboe (21.8 mmboe net to Deltic) and in the gas only case gross 2C contingent resource of 50 mmboe (15 mmboe net to Deltic) · RPS also estimated a Post tax NPV10 in the combined case of $683m (gross) or $205m net to Deltic and $663m (gross) in the gas only case or $199m net to Deltic · Planning has progressed for a well to be drilled with Shell over the Selene gas prospect followed by an appraisal well for Pensacola in the second half of 2024 · Rig contract signed and structured such that both Selene and Pensacola will be drilled back to back using the Valaris 123, a heavy duty jack-up rig, expected to commence July 2024 · Success in 33rd UK Licensing Round · Cash position of £5.6 million at 31 December 2023 (2022: £20.4 million) with no debt · Net cash outflow for the year of £14.8 million (2022: inflow £10.3 million) mainly for funding Pensacola exploration drilling and other exploration investments · Completed a farmout of the Selene prospect to Dana Petroleum post-period end with Deltic fully carried for the estimated cost of the success case well Graham Swindells, Chief Executive of Deltic Energy, commented: "2023 was a transformational year for Deltic following the Pensacola discovery in the Southern North Sea in February. As one of the area's biggest discoveries in the past ten years, this was a fantastic result for the Company and is testament to the hard work carried out in the years leading up to this point. We continue to prepare for an appraisal well on Pensacola in Q4 this year, which I believe will take us a step closer towards commerciality. During 2023 we also continued to progress our equally significant Selene exploration prospect, culminating in an excellent farmout in early 2024. We are now in the enviable position of drilling two consecutive wells in the second half of the year, with two world class partners in Shell and Dana." "I am delighted with the progress that Deltic made in 2023 and firmly believe we can continue on this trajectory throughout 2024. The UK needs to bolster its security of energy supply more than ever and I believe that Deltic will play a key role in this." |
Posted at 05/2/2024 07:33 by therealdeal25 RNS guys we are offRNS Number : 9458B Deltic Energy PLC 05 February 2024 Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources 5 February 2024 Deltic Energy Plc ("Deltic" or "the Company") Licence P2437 (Selene) & P2252 (Pensacola) - Confirmation of Rig Contract Deltic Energy Plc, the AIM-quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern North Sea is pleased to announce that Shell UK Ltd ("Shell"), the Operator of Licences P2437 and P2252, has confirmed that a rig contract has been signed with Valaris for the drilling of both the Selene exploration well and the Pensacola appraisal well. The two wells will be drilled using the Valaris 123, a heavy duty jack-up rig, with Selene and Pensacola being drilled as a two well sequence, with the contract and mobilisation commencing in the June-July 2024 period. With Selene and Pensacola being drilled sequentially, this creates the potential for operational efficiencies associated with being part of an extended programme of wells. Confirmation of the rig contract is a significant step forward for Deltic and a key milestone in the preparatory work required to support the exploration well on the Selene gas prospect and the appraisal well on Pensacola, following last year's discovery. Following on from the operational update provided towards the end of last year, the geophysical site survey on Pensacola has now received permitting approval. Mobilisation to the site has taken place and the survey is expected to last for approximately one month. |
Posted at 08/2/2023 07:04 by moneymunch Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources8 February 2023 Deltic Energy Plc ("Deltic" or "the Company") Pensacola Gas Discovery Deltic Energy Plc, the AIM-quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, is pleased to announce a significant gas and oil discovery at Pensacola on Licence P2252 in the Southern North Sea. Highlights · Pensacola could represent one of the largest natural gas discoveries in the Southern North Sea in over a decade. · Deltic pre-drill volumetrics for Pensacola confirmed by well - P50 Estimated Ultimate Recovery ('EUR') of 302 BCF. · Well opens a new Zechstein play in this mature basin. · Flow test results inline with Deltic's pre-test expectations based on the reservoir parameters derived from the well. Graham Swindells, Chief Executive of Deltic Energy, commented:- "Deltic's first exploration well at Pensacola has resulted in a highly positive outcome and, at approximately 300 BCF, would represent one of the largest natural gas discoveries in the Southern North Sea in over a decade. This discovery is a major milestone in the development of our Company as we continue to execute our exploration led strategy and progress our portfolio of high-quality drilling opportunities as we seek to create value for our shareholders. We believe that the Pensacola discovery will open a new Zechstein play in this mature basin and highlights the remaining potential of the North Sea as a source of further discoveries which can provide domestically produced natural gas, supporting UK energy security while we transition toward a Net Zero economy. As we continue our preparations for drilling the Selene well, we are now looking forward to working with our partners as we continue to progress this exciting and significant gas discovery at Pensacola, and look forward to updating the market on our future plans." Well 41/05a-2, operated by Shell UK Ltd ("Shell"), reached a total depth of 1,965 metres true vertical depth subsea ("TVDSS") and the presence of mobile gas and oil in the primary Zechstein Hauptdolomite carbonate target interval was confirmed via wireline logs. The well encountered the top Hauptdolomite reservoir at 1,745 metres TVDSS and confirmed a reservoir thickness of 18.8 metres with better than expected porosity averaging 16%. As planned, the well penetrated the edge of the Pensacola structure in a down dip location and has proven a substantial hydrocarbon column. Post acidization, the well flowed gas at peak rates of c. 4.75 mmscf/day declining to 1.75mmscf/day after the 12 hours of the test. These results are in-line with Deltic's pre-test expectations based on the reservoir parameters derived from the well. Being located down dip, the flow rates observed during the well test are not expected to be representative of flow rates of potential future production wells which would likely target the central part of the Pensacola structure and are expected to generate higher rates. Light oil with a preliminary gravity of 34-36° API was also produced at a rate of approximately 18 bbls/day during the well test. The potential of this oil with respect to the Pensacola opportunity is yet to be determined. Based on the data collected during drilling and testing, Deltic has updated its volumetric models and now estimates the Pensacola discovery to contain P50 EUR of 302 BCF (P90 to P10 Range = 164 to 519 BCF) which are fully aligned with Deltic's pre-drill guidance. Following completion of the well test programme, as planned and previously stated, the well will now be plugged and abandoned in line with the usual procedure for a well of this nature, and the Noble Resilient will be de-mobilised from site. The net cost to Deltic of drilling the Pensacola well is expected to be £11.1m reflecting certain additional operational requirements during drilling, weather conditions, additional testing costs, as well as market influences, including inflation and exchange rate movements. Deltic will now incorporate the findings from the well into its geological and commercial models and work with the Joint Venture on the forward appraisal and development plan. Following this discovery, in line with the Company's strategy, Deltic will consider all options in relation to its interest in Pensacola including appraisal and development as well as potential full or partial monetisation of value. Deltic remains committed to maximising shareholder value from the discovery and across its asset base. Deltic retains a 30% working interest in Licence P2252 alongside Shell (65%) and ONE-Dyas (5%). |
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