Level 2 getting stronger. More MMs on the bid now. |
Bid is now really more than the mid price currently. They want your stock. Accumulation going on. |
I would urge shareholders here to continue 'hounding' management on securing assets outside UK as fast as possible.UK government over many years have screwed the industry here. Management need to get on with securing assets abroad now, don't get distracted by Selene, it will be what it will be. It's the future that matters, nothing else.Cash |
Six months ago share price was in the forties, enough said. |
Agreed. Formerly known as Longboat, share price got hammered in June, similarly to Deltic. In a much better place now. |
Perhaps investors are looking at the likes of LSE:SEA and starting to get it [that LSE:DELT could get circa GBP£15m to GBP£25m for Selene and then deploy the funds in immediately income producing O&G assets else where in the globe [where they are not so stupid reference the transition to net zero] such as Asia] |
PERKY TODAY ..I can sell 100k at 4.9p just now... |
I think you are correct, assuming the logging and sampling don't throw up anything surprising it will move straight to development planning. After the Pensacola fiasco I don't think they'll attempt to stand their corner in a development, they stated "extraction of value from Selene" to put cash on the balance sheet to deploy elsewhere. When it comes to value, the recent comparator is the Victory Gas Field development which required no further drilling and was also 18km from the nearest infrastructure. Reabolds figures :180 bcf gas, NPV10 of 193mm GBP, sale price 32mm GBP , that's 180k GBP per bcf and a sale at 18% of NPV . Applying the same factors to Selene suggests a number of 15-20mm GBP to DELT , Depending on level of interest. |
In the success case, I think Deltic will be looking to sell rather than face the financing headache of funding their share of development costs. Better to buy into a low cost producing overseas asset, e.g. offshore malaysia or similar to generate some revenue whilst also picking up some exploration/appraisal assets to work up for the future. Case in point, Seascape, formerly Longboat: |
Yes ..While Charlie Sharp et al have a ludicrous price target here its clear that we have gone the full 180 degrees from any reasonable assessment .Selene unlike Pensacola isnt a stranded asset .
On a success case it wouldnt take much to make it commercial. |
Interesting article
ttps://ukinvestormagazine.co.uk/deltic-energy-selene-well-could-prove-to-be-transformative-shares-at-4-65p-rated-as-a-speculative-buy-by-its-brokers-but-with-what-target-price-read-on/?mc_cid=78a1ed5547&mc_eid=5fcb29a068 |
What Labour hasn't worked out is that 78% of nothing will be nothing in tax revenues if they carry on with their stupid 'windfall' agenda resulting in increased imports and a higher carbon footprint, having killed off any incentives for domestic production! |
Just to remind everyone, from the 23 July announcement:
"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." |
hTtps://www.telegraph.co.uk/business/2024/10/21/labour-election-agents-oil-company-sell-off-north-sea-asset/Article attracting a few familiar comments! |
I suspect that they might not want to say much about Selene ahead of the budget for obvious reasons. |
First few lines are free to read. Enough to get the jist.https://www.upstreamonline.com/exploration/uk-s-first-exploration-well-this-year-looks-promising/2-1-1727126 |
Thanks Oilretire.
As others have noted Shell didnt RNS today so DELT cant say much. |
As positive as they can be at this stage. Sounds very promising, let's hope the logging and sampling goes well enough to extrapolate a commercial declaration.Must be Viaro sniffing around Blackadder as kicking that out to mid 2025 coincides with the Shell/Exxon sale timescale.And probably Dana...... does two constitute a 'number' of companies? Would be surprised in this climate if there were more than those two obvious candidates. |
Deltic are not the operator so they are restricted as to what they can say . |
A bit of a damp squib reaction to the upbeat news. Steely face Reeves is affecting this market on multiple fronts. Let's get t'yonder side of Halloween. |
Thanks everyone... |
160m = 524 ft so not much in it, and a plus that slightly more than 500 ft. |
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
