Sorry wrong thread |
LOTS of T/O this past months for tax losses as well as reducing their holdings.
One man and his dog are now running a business and slowly goes the remaing cash.
What a pity!!!! |
hpcg25 Mar '25 - 07:53 - 196680 of 196681
Drax has entered the bidding for Harmony Energy Income Trust. They have outbid Foresight by 5%. This has to be good for all energy infrastructure trusts, but those with BESS in particular - so the likes of GRID and GSF. There are plenty of other heavily discounted trusts with a toe hold or greater in energy, paying high dividends, and growing those dividends, that have been sold far too low IMO. In plenty of cases they are increasing dividends. These include ENRG (I hold), DORE (have held, don't hold, will be buying again - results tomorrow) and SEIT (hold). |
RECOMMENDED CASH ACQUISITION
of
Serinus Energy plc ("Serinus")
by
Xtellus Capital Partners, Inc. ("Xtellus")
Background to and reasons for the Acquisition
· Xtellus observes the withdrawal of capital from UK-listed small cap oil & gas stocks and the comparatively low sector valuation and views this as an opportune time to acquire oil & gas assets and provide them with the necessary private capital for growth.
Could potentially happen to DELT |
Locked in here, until a miracle happens! |
This outfit needs to get something sold
Please no strategic investment |
I knew it. Classic sell into any volume. |
Lots of buys |
NPV calculations reflect the tax regime as announced in the October 30, 2024, UK Budget.
Note, the post-tax NPV includes a £59m tax credit which Deltic can use once Selene is online.
Consequently, Deltic will not pay EPL (Energy Profits Levy) and minimal Corporation Tax based on current Selene tax modelling.
(Allenbys comment on Selene a few months ago..)
Forgot to mention this which is a sweetener alongside Endymion and Blackadder at the Corporate level. |
Yep. Totally agree. Viaro are hungry for acreage.Deltic's fortune probably lies there. Upwards of 22p a share. |
My bet is still on Viaro to pounce once they get the Shell/Exxon deal over the line later this year.A few director buys now this update is out wouldn't go amiss. |
Much better RNS but I do think their options are limited and it will be very tough.
All the best to them though - they've been shafted by the Government. |
 Canaccord Genuity view
It's clearly positive that the Selene project still stands up as a significant gas development opportunity following much more detailed post-well analysis. More work is ongoing but the technical/economics signs are very supportive of a commercial development. The key challenge is to deliver the partner commitment and overall funding for the project, and the company indicates that it has enough financial resources (YE24 cash of $1.4m) to progress the various options. Just as significantly, in our view, is the sense of an approaching greater political pragmatism towards the UK North Sea's oil and gas future. We think that provides a more hopeful backdrop for Deltic (and others) than for some time. Sourcing Selene funding still presents a challenge, but in our view the overall market value discount to even our risked Deltic valuation is excessive.
We maintain our SPECULATIVE BUY rating and our risked NPV10 based target price of 33p.
Bit of a daft target but I was happy to buy more this morning at 3.3p to take me back to 100k and now I'm in profit overall.
My target is 8 to 10p as it has been for a while .
Something will turn up even in this market,GLA. |
Completely agree with his last sentence. |
Andrew Nunn, Deltic CEO, commented:
"The magnitude of the divergence between Deltic's share price and the Company's valuation of its stake in the Selene Gas Project is clearly a cause of frustration for both shareholders and the Board, especially given the quality of the asset and commitment of the JV partners. The Board considers that actions taken in late 2024 to reduce ongoing G&A costs, and Deltic's previously communicated year end cash position of £1.4m, provides the Board with sufficient flexibility to progress potential funding options to enable the business to move to Selene FID and beyond.
There has now been a period of stability in the UK oil and gas industry following the UK Budget in October 2024, and while the overall environment remains extremely challenging, we believe there has been a slight improvement in sentiment towards the sector. Deltic, and in particular our Chairman, have been and will continue to provide leadership and input into industry-led initiatives to educate government, ministers and other stakeholders on the environmental, employment, economic, and energy security benefits of producing oil and gas from UK waters. As recent events have demonstrated, it has never been clearer that a secure domestic energy supply is a vital national asset and Deltic's work could be a key contributor to delivering that for the UK in the coming years." |
Funding Options
Deltic is currently evaluating a number of options, both at the corporate and asset level, which should allow it to secure the funding required to meet its medium-term requirements in relation to the Selene development. The options under evaluation include, but are not limited to, a further farm-down of Deltic's current equity position in Selene, a partial sale of its interest in Selene, a pre-payment against future gas sales, and seeking to add new strategic shareholders to the Company's register.
This is a key area of focus for the management team and board as the Company determines the best way forward for the benefit of all shareholders. |
Operational Update
Deltic Energy Plc, the AIM quoted natural resources investing company, is pleased to provide the following operational update in relation to its portfolio of UK gas development and exploration assets:
Highlights
· Post-well analysis and pre-Field Development Planning work on Selene Gas Project underway
· Selene gas project NPV10 of USD$58M, net to Deltic, based on updated economic model
· Selene project - Endymion prospect maturation demonstrates low-cost upside on block
· Farm-out process on Blackadder licence commenced
ETC.... |
Clearly apart from Nigel Farage and Reform nicking all their voters they also have the trade unions on their backs due to all the very many job losses....
Perhaps it makes sense to keep 'em peeled.... |
North Sea oil and gas operators are also facing a ban on new drilling licences, which experts say will accelerate a decline in production.
Rising energy costs risk industrial ‘extinction217;
Elsewhere, The Telegraph disclosed last month that chemicals manufacturers have warned ministers that sky-high energy costs are pushing their industry to breaking point.
Companies including Ineos, Dow, Johnson Matthey and Croda warned that further plant closures were “inevitable221; unless the UK became more competitive, in a letter coordinated by the Chemicals Industries Association.
Sir Jim Ratcliffe, the billionaire owner of Ineos and Manchester United, has warned of industrial “extinction221; unless action is taken to make the UK and Europe more attractive.
Labour ministers are also under pressure from their union supporters to explain how jobs threatened by net zero will be replaced.
Gary Smith, the leader of the GMB, has warned green policies are “hollowing out working class communities”, while Derek Thomson, the Scottish regional secretary of Unite, said the closure of Grangemouth raised questions about the Government’s plan to ensure a “just transition”.
Mr Thomson told The Telegraph: “For a just transition to take place, we have to protect workers and transition in a way that allows us to create new jobs.
“If you close [the Grangemouth refinery] now, does it actually contribute much to global emissions?
“Becoming an import-only country, that’s a devastation of manufacturing. And there is no plan to start building wind turbines in Scotland.
“There’s no plan to do steel. There’s no plan to do anything to replace that manufacturing base.”
A spokesman for Mr Miliband’s department insisted claims of a division were “untrue”.
She added: “Our mission to become a clean energy superpower is the economic opportunity of the 21st century and one of the Prime Minister’s five missions, which the whole of Government is united behind delivering.
“We received a boost of 35pc, or £3.6bn, in last year’s Budget, one of the largest annual increases in the history of the department and its predecessors – and announced a multi-billion-pound investment to kickstart growth in carbon capture and lead the world in a ground-breaking clean energy technology.
“In addition, the Prime Minister made a transformational commitment to the Grangemouth community, announcing an additional £200m to support investment in the long-term future of the site.” |
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