With immediate effect would suggest it wasn't planned... |
Seems odd Swindells should jump ship with the Selene result imminent |
Interesting development.Graham Swindell resign, and Andrew Nunns new CEO and hinted for 2nd major discovery at Selene |
Re: previous post |
Ironically the rig is heading to Pensacola next!Timetable still fits with finding something worth logging, sampling & possibly DST at Selene.hTtps://www.upstreamonline.com/exploration/shell-close-to-completing-closely-watched-uk-exploration-well/2-1-1721904 |
If it's oil, it will rise slightly, then drop back to where it is now. It will then fall again.The company needs a steady strong revenue and it's ot really worth a buy out to anyone.The only hope was in legislation, granting further licenses and lowering the tax to aid commercial viability.Sadly, I hate to admit it because I am knackers deep, but the future is grim. |
Pretty binary. Dry hole and it's a zero. Commercial and certainly over 10p. |
Yep. Not long now. Price up to around 8p pre-update perhaps? Depends how leaky the news is. |
71 days in to the 90 day fc drilling period at Selene. |
Most oil and gas companies are up. |
Nice to see some rationality in the Share price here .
Pre drill result I'd expect to see around 7p .
All IMHO .. |
Hmmm..
Gas prices have jumped in recent weeks ahead of the cooler weather, with UK natural gas up almost 20% since a low in mid-September to 94.36p per therm on Tuesday.
Thats over 70$ per boe if my maths is correct .
We live in strange times when we dont want to encourage gas exploration in this country. |
Why sell after all this time unless you did know something
Biggest North Sea find in decades given away then have to pay almost 2 million quid for the privilege
You couldn’t make it up!! |
Unbelievable
The bod need the boot |
Does Richard know something we don't? |
Pigs might fly! 😉
Not that I'm expecting that given the 70% CoS and also I think it's too early for anything newsworthy to have leaked anyway. |
If bad news comes, Sneller needs investigating for sure ! |
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. |
Well isn't getting fully tested as per earlier RNS. So with the rig there till the end of October I doubt they'll be at the logging and sampling stage yet. It'll surely be Sneller going from 9.9% to below 3% and maybe even out fully. |
My understanding from yesterday drop is, if there is any news leak, then drill result likely on Monday. If there is no news on Monday, it seems all is well, and they have moved to next stage, testing of wellYesterday drop could be result of 6m sell order, and nothing else. |
'This is exploration in a mature basin. You examine, you discover, and you move on.'- And then walk away! |
Indeed ..given the size of the Selene prospect and COS its as good a punt as any given the current EV. |
At least we know now it was Sneller that trashed the share price yesterday more than anything else. Like you I wonder why now. Might as well go the distance till Selene outcome is known at end of October |
Oilretire..
On a success case at Selene, even a fire sale of the asset to Viaro should raise a substantial amount of cash.
Exactly .
This as well...The Company has incurred expenditure since incorporation on UK exploration and appraisal activities that gives rise to a potential tax asset of over £57 million that can be utilised to offset future taxation.
Hard to figure what Sneller was thinking about yesterday.
There was nothing in that RNS that wasnt known before... other than the good news that they'd come to an arrangement with their creditors. |
there you go! |
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