Maybe on the other exchange |
now it appears late |
Manipulation folkes, sold 100k 33min ago not showing. |
Weathers looking fine for the foreseeable |
Sorry ohisay, no idea, too many unknown variables including the weather. |
It's an oil leak |
Must surely be a leak if the initial RNS on the 21st didn't move it then something has changed to spike it up today. |
Oilretire based on your experience when would you expect a statement on results here.?
More like next week than this week ?
(Asking for a friend) |
Yes good point re Viaro .
Market is quite manic depressive sometimes isnt it.? |
Said it before, but on a success case there's two obvious buyers for what would be a relatively simple tie back development. Dana to develop Selene 50/50 with Viaro.Or Viaro to buy them both out and develop solely. Given they're already willing to go solo on the infrastructure and existing production by buying out Shell & Exxon, I wouldn't be surprised if that's the outcome to simplify the development of Selene further.Let's get a commercial declaration over the line first though. Which is hopefully what's leaking and driving today's increase. |
10k dump at 6p |
Thanks cashandcard for your posts and you might well be proven to be right. However my view on the other side of the coin is that Selene is a totally different kettle of fish to Pensacola and therefore there could potentially be a willing buyer or even buyers out there for DELT's stake.
Circa GBP£20m would in my opinion be a great initial war chest to go and emulate the likes of LSE:SEA |
A delayed reaction to the encouraging drill news earlier this week. Nice to see the market waking up and catching on after such an enormous capitulation like fall in the share price recently. |
The real value for DELT is to stay in the game as a cash shell, hold onto whatever money they can, raise what via possible asset sales and go buy foreign assets.Cash |
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 |
Reference your earlier post cashandcard - basically Selene is a very different beast as it is near infrastructure plus the operator FTSE100 SHELL have confirmed that it will not require any appraisal wells and will therefore go straight into development.
SHELL obviously have deep pockets so LSE:DELT have already hinted that they will take the money and basically try and emulate the likes of LSE:SEA |
 Andrew Nunn, CEO, commented:
"First of all, I would like to thank Peter Cowley for his Board contributions and support over the years. We wish him all the best in his future endeavours.
Our immediate focus is the ongoing Selene exploration well, where initial drilling indications are encouraging. I look forward to updating the market on the progress of this highly material well.
The Board has considered the best way to deploy the Company's experience and expertise to create value for its shareholders. As always, the balance of geological, operational and political risk must be considered and we are actively assessing a number of attractive opportunities in geographies where more supportive policies towards oil and gas development exist.
The key changes we have announced today, in addition to a raft of other less significant changes, will have an immediate and material impact on the Company's operational expenditure and are expected to result in savings of 40% compared to costs previously budgeted by management for 2025. These savings are key to extending the time period in which to identify and incubate those new opportunities that we believe will help towards stabilising the business and providing a platform for future growth supporting our objective of creating positive returns for shareholders." |
Drilling Operations - Selene Exploration Well
Well operations continue on the high-impact Selene exploration well. The Shell operated well reached its total target depth of 3540 metres on 17 October 2024 and encountered a 160 metre thick section of Leman Sandstone with gas present throughout.
While initial observations are clearly encouraging, Deltic will need to wait on further results from the logging and fluid sampling operations before providing a comprehensive update in due course.
Deltic has a 25% working interest in the Selene licence which is located in the heart of the long-established Leman Sandstone gas play in the Southern North Sea. In a success case, the intention would be to proceed directly to field development planning as further appraisal drilling is not considered to be necessary to support a future development investment decision.
Blackadder Licence P2672 - Farm-out Interest
Given the positive read across from Selene to the Blackadder prospect, Deltic has been in receipt of farm-in interest in the licence from a number of companies. The Company will look to capitalise on this third-party interest to materially reduce or eliminate its cost exposure to the forward work programme on this licence. To allow time for these discussions to mature, Deltic intends to defer the commencement of planned work programmes until at least mid-2025, minimising any near-term expenditure. |
Chartist Zak Mir - this will be 10p in short term... |
What's happened. No RNS. Is this oil we have? |
Going nuts on L2 |
Double digits not far off. Bring on the flow data. |
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