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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
|
|
|---|---|---|---|---|
| 1.75 | 9.59% | 20.00 | 16:35:29 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 18.25 | 18.25 | 19.50 | 20.00 | 18.25 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 01/5/2024 15:58 by greedfear This isn’t over yet. Wouldn’t DANA or Shell be interested in getting 20% and in return leave Delt with a 10% share free carry?I can see something like that happen. |
Posted at 30/4/2024 17:30 by bountyhunter Shell may be playing hard ball in which case Delt should inform Shell that they will have a fire sale to anyone but Shell to avoid Shell getting Delt's Pensacola share for free. |
Posted at 30/4/2024 08:39 by ashkv At 20p DELT Market Cap -> GBP 18.62 Million - of which GBP 5.6 Million was last reported cash!! No Debts other than payables!!!!A sale to DANA or Shell for 40-50p makes eminent sense - lets see if it happens. Poor show on the part of Swindells - disastrous investment for me - now down around 60% :( From FY 2023 Results "Weighted average number of ordinary shares for the purposes of basic loss per share -> 93,096,600" |
Posted at 30/4/2024 08:25 by ashkv Swindells owns approximately 3.5% of Deltic Energy - so has a lot more at stake.Lets see if he is willing to bet it all on 70% Chance of Success Selene or he is going to go home with whatever is left of his poker stake!!! Cannacord have in below valuation implied a 67% Chance of Success for Selene!!! At 21p - DELT is a high risk play with multiples upside / possibly 3-4x on Selene success and 75%+ downside on a duster!!! Also Pensacola not ruled out - I have a positive gut feeling -lets see if bears out :) A crypto share :) It will be an interesting few months for DELT!!! Cannacord today. While there is still some hope that Pensacola funding may be found over the next month or so, we still believe that carrying some value for it in our target price is reasonable. However, naturally we heavily cut that value to reflect the clear and near-term risk of asset loss. As a result, we reduce our risked NPV10 based target price to 110p (from 180p). That includes the following: Selene, risked 89p (unrisked 133p); Pensacola, risked 8p (unrisked 96p); Syros, risked 15p (unrisked 148p). |
Posted at 30/4/2024 07:48 by banksy Why can't Delt raise the £15 million I a placing using primary bid or similar. Surely there would be enough retail demand to sort |
Posted at 17/4/2024 07:40 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 07/7/2023 08:57 by ashkv REPOSTFrom the Allenby Report -> The road ahead: Well 41/05a-2 will now be plugged and abandoned as planned. The Pensacola project is likely to advance to the appraisal stage with appraisal drilling possible in 2024. We think a FEED (Front End Engineering Design) feasibility study is a possibility in 2025 with the development of the field and a gas export route following in 2026. In our view, the earliest that Pensacola could commence commercial production would be 2027. Deltic has indicated that, together with Shell, it is undertaking preparations for a Selene (WI 50%) exploration well in the Leman sandstone fairway of the SNS Basin in 2024. (Phoeix Oil - WITH A 50% CHANCE OF SUCCESS - Makes sense for Deltic to Farm-Out a portion of Deltic's 50% interest and have a free carry on the well!!!) ashkv - 04 Apr 2023 - 15:58:39 - 4299 of 4575 Have we been DELT an ace with super major SHELL OIL?!?!? - DELT REPOST Financials Deltic’ position was around £20m bolstered by the £15.96m gross raise at 3.50p/share last September. The underlying cash outflow from operations and capital expenditure was less pronounced than might have been expected in the second half of 2022 given that Pensacola well costs flow through to payables with a significant lag. As noted previously, the bulk of these will impact cash in the first half of 2023. Our forecast for the cash balance at end 2023 is £5.9m. This assumes a cash outflow from operations of £2.3m and capital expenditure of £12.5m. The latter reflects £10.5m Pensacola well costs, £1.2m Selene site survey and related long lead time outlays and £0.8m 33rd North Sea Licensing Round. Deltic has previously suggested that its share of prospective Selene well costs will be £11.1m. We think, however, that Selene is unlikely to be spudded before H1 2024. ashkv - 04 Apr 2023 - 15:58:25 - 4298 of 4575 Have we been DELT an ace with super major SHELL OIL?!?!? - DELT A reminder as to the potential value - DELT unloved and management need to get their act on the road -very disappointing.... |
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%). |
Posted at 12/9/2022 16:45 by the chairman elect Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural ResourcesProposed Placing, Subscription and Open Offer to raise a minimum of GBP15 million 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, announces its intention to conduct an equity fundraise (the "Fundraising") consisting of a placing and subscription targeting minimum gross proceeds of GBP15 million, and an open offer for up to an additional GBP2 million, both at a price of 3.5 pence per share. Stifel Nicolaus Europe Limited ("Stifel") and Canaccord Genuity Limited ("Canaccord") are acting as joint bookrunners (the "Joint Bookrunners") to the Company in connection with the Fundraising. The placing is being conducted through an accelerated bookbuilding process (the "Bookbuild") which will be launched immediately following this announcement and will be made available to eligible institutional investors on the terms and conditions set out in the Appendix to this announcement. The Bookbuild is expected to close no later than 8.00 a.m. on 13 September 2022. However, the Joint Bookrunners and the Company reserve the right to close the Bookbuild earlier or later, without further notice. Capitalised terms not otherwise defined in the text of this announcement have the meaning given to them in the section headed "Definitions" below. Background to the Fundraising -- Deltic has a high impact, low risk, infrastructure led exploration and appraisal portfolio in the Southern and Central North Sea, with a significant weighting towards natural gas, and a proven ability to attract world class partners such as Shell and Capricorn. -- The Company has an active forward operational schedule and a funded pathway to drilling activity with two firm wells operated by Shell U.K. Limited ("Shell") that will commence drilling from October 2022, and a portfolio of licences that offer a conveyor belt of drilling and farm-out opportunities. -- The Shell-operated Pensacola well (Deltic WI: 30%) in the Southern North Sea is fully-funded and due to spud in October 2022 using the Maersk Resilient rig. The Company estimates that Pensacola has a gross P50 prospective resource of 309 BCF with a geological change of success ("GCoS") of 55% and an unrisked post tax project net present value ("NPV") of $553 million gross ($166 million net to Deltic), calculated based on a gas price of 80 pence per therm. -- The Selene well (Deltic WI: 50%) in the Southern North Sea, operated by Shell, is expected to spud within the next 12-18 months following a firm investment decision in July 2022. The Company estimates that Selene has a gross P50 prospective resource of 318 BCF, with a GCoS of 70% and an unrisked post tax project NPV of $624 million gross ($312 million net to Deltic), also calculated using a gas price of 80 pence per therm. -- The joint venture between Deltic and Capricorn is making good progress across the five jointly-owned Southern North Sea licences, including taking delivery of new 3D seismic data across licence P2428, and is looking to mature well prospects with a view to making its first well investment decision in 2023. -- Deltic's technical team has successfully completed the initial phase of geological work on its Syros prospect (Deltic WI: 100%) in the Central North Sea, and a farm-out process has now commenced. -- Preparatory work in anticipation of the UK's 33rd Offshore Licensing Round (due to be launched in Q4 2022) has commenced, with Deltic looking to build on its successful track record and further strengthen and diversify its portfolio through applications on both a 100% basis and in collaboration with selected partners, with technical evaluation work well advanced. -- Deltic is seeking to raise minimum gross proceeds of GBP15million in order to fund its share of the Selene well, including contingency mandated by the Company's regulator, the NSTA, fund further investment in Deltic's existing licence portfolio, enable further investment in the UK's upcoming 33(rd) Offshore Licensing Round, and fund transaction costs, working capital and general corporate costs through to mid-2024. Overview of the Fundraising -- The Fundraising includes a proposed placing of new Ordinary Shares (the "Placing Shares") with new and existing institutional investors (the "Placing") and a proposed subscription for new Ordinary Shares (the "Subscription Shares") by certain directors and senior management of the Company (the "Subscription") to raise gross proceeds of approximately GBP15 million, at a price of 3.5 pence per new Ordinary Share (the "Placing Price"). -- The Placing is being conducted through the Bookbuild , which will be launched immediately following this announcement and will be made available to eligible institutional investors on the terms and conditions set out in the Appendix to this announcement. The Bookbuild is expected to close no later than 8.00 a.m. on 13 September 2022. However, the Joint Bookrunners and the Company reserve the right to close the Bookbuild earlier or later, without further notice. -- The Company is further seeking to raise up to GBP2million through an open offer (the "Open Offer"), subject to successful completion of the Placing and Subscription, pursuant to which Ordinary Shares will be offered to existing shareholders at the Placing Price. -- Confirmation of the Open Offer details will be announced alongside the completion of the Placing and Subscription. -- The Company's largest shareholders, IPGL Limited and related individuals ("IPGL") and Inthallo Limited ("Inthallo"), have indicated that they intend to participate in the Fundraising, with IPGL and related individuals indicating that it intends to invest up to GBP5 million and Inthallo indicating that it intends to participate for up to GBP1.5 million. -- The final number of Placing Shares that will be allocated to IPGL, its related individuals, and Inthallo is at the absolute discretion of the Joint Bookrunners and the Company and will be confirmed following the close of the Bookbuild. -- Certain directors and members of the Company's senior management team have also indicated their intention to participate in the Fundraising by subscribing directly with the Company for new Ordinary Shares at the Placing Price. -- The Fundraising will be subject to approval at a General Meeting, expected on 30 September 2022. Following the close of the Bookbuild, the Company expects to send, on or about 14 September 2022, a shareholder circular to convene the General Meeting and containing details of the Open Offer, together with an Open Offer application form (where applicable). Graham Swindells, Chief Executive of Deltic Energy, commented: "This is a very exciting time for Deltic as we will shortly be drilling of our Pensacola Gas Prospect and continue to progress, and add to, our conveyor belt of opportunities, not least our Selene Gas Prospect, which we look forward to commencing drilling within the next 12-18 months. Given the tragic events in Ukraine, the importance of having a secure supply of domestic gas from the UKCS has never been more evident, and Deltic is focused on becoming a key contributor to delivering that gas." |
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