Deltic Energy Share Discussion Threads

[barnes4] 07/2/2024 07:55

Placing next

[ashkv] 07/2/2024 07:52

Wow finally FANTASTIC DEVELOPMENT for Deltic and us shareholders :)

I should have topped up further at the lows :(

Hopefully the market doesn't take this down...

Crazy crazy markets...

[bountyhunter] 07/2/2024 07:38

25% of Selene but fully carried for well costs, a great result for a company the size of Deltic!

[apotheki] 07/2/2024 07:35

Graham Swindells, Chief Executive of Deltic Energy, commented:

"We are delighted to have strengthened the P2437 JV with the addition of an established operator like Dana who have a long history of successful exploration and development in the Southern North Sea. As a result of the transaction Deltic retains a material stake in one of the highest impact UK exploration wells planned in 2024 while effectively eliminating our estimated cost exposure to the exploration well, which remains scheduled to commence in Q3 2024. I look forward to updating the market as we progress through a very exciting year for Deltic, including our active and ongoing process to realise value and farm down our Pensacola discovery."

[apotheki] 07/2/2024 07:33

About Selene

The Selene Prospect is one of the largest unappraised structures in the Leman Sandstone fairway of the Southern Gas Basin and Deltic estimates Selene to contain gross P50 Prospective Resources of 318 BCF of gas (with a P90 to P10 range of 132 to 581 BCF) with a geological chance of success of 70%.

As a result of the original farm-out with Shell, Deltic held a 50% working interest in the Licence but will be carried for its 25% of the gross costs of drilling and testing the well on the Selene prospect, up to $25 million. As a result of its farm out of a 25% working interest to Dana, Deltic will now be fully carried for its 25% share of gross well costs up to a total of $40 million (dryhole) and $49 million (success case).

The Selene well remains scheduled to be drilled in Q3 of 2024.

[pipersand] 07/2/2024 07:30

A long time coming, but some great news this morning. Well done Deltic team.

[ohisay] 07/2/2024 07:25

And Pensacola to follow in short order it seems..
Swindell comment ...
I look forward to updating the market as we progress through a very exciting year for Deltic, including our active and ongoing process to realise value and farm down our Pensacola discovery."

And Cannacord today..

Our unrisked valuation for Selene net to Deltic is $139m at 75p/therm, or 119p/share.

[ohisay] 07/2/2024 07:16

The Selene Prospect is one of the largest unappraised structures in the Leman Sandstone fairway of the Southern Gas Basin and Deltic estimates Selene to contain gross P50 Prospective Resources of 318 BCF of gas (with a P90 to P10 range of 132 to 581 BCF) with a geological chance of success of 70%.


As a result of the original farm-out with Shell, Deltic held a 50% working interest in the Licence but will be carried for its 25% of the gross costs of drilling and testing the well on the Selene prospect, up to $25 million. As a result of its farm out of a 25% working interest to Dana, Deltic will now be fully carried for its 25% share of gross well costs up to a total of $40 million (dryhole) and $49 million (success case).

The Selene well remains scheduled to be drilled in Q3 of 2024.

Excellent news !

[ohisay] 05/2/2024 09:30

Cannacord today.

Timetable - confirmed both wells H2 24 The wells will be drilled by the Valaris 123 jack up rig, with mobilisation to Selene expected in June/July. Once Selene operations have concluded the rig will move to drill Pensacola. Both wells are expected to take up to three months each to drill and test (including contingencies). As a result we expect the programme to end late 2024/early 2025 depending on the exact date of mobilisation.
Benefits of sequential drilling The financial benefits are hard to quantify but there are clearly savings related to more efficient mobilisation, advantages to rig crew continuity and ongoing oversight by operator Shell.
Target price and rating We keep our risked NPV10 based target price of 185p and our Speculative BUY rating. We also look forward to further updates on the farm-out processes underway for both Selene and Pensacola.

[apotheki] 05/2/2024 07:55

RNS

Graham Swindells, Chief Executive of Deltic Energy, commented:

"Signing of the rig contract coupled with the firming up of the drilling schedule is another important step for Deltic as we move further down the runway towards the drilling of Selene and Pensacola. Confirmation that the JV has secured a high quality rig, with Selene and Pensacola being drilled back to back, represents another key milestone as we get closer to drilling in what is shaping up to be a very active and exciting year for Deltic."

[therealdeal25] 05/2/2024 07:33

RNS guys we are off

RNS 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.

[ohisay] 04/2/2024 04:53

Rather less likely to be radical oil and gas policies after this I'd have thought .
Not an absolute green light for the N.Sea but an implicit removal of surprises ...

[steelwatch] 01/2/2024 08:29

Possibly more to come with Southern North Sea awards still pending

[apotheki] 01/2/2024 07:45

sawney1 Feb '24 - 05:21 - 4801 of 4802

Looks like Deltic have been awarded a couple of licence blocks...



sawney1 Feb '24 - 06:04 - 4802 of 4802

Deltic's 29/4b sandwiched between 2 blocks awarded to Shell...??

Zoom in and click on a pink block (33rd round) east of Aberdeen...

[apotheki] 01/2/2024 07:42

Graham Swindells, CEO of Deltic, commented:

"These provisional awards are a direct result of the hard work that our technical team put into the application process and we look forward to announcement of Southern North Sea Tranche 3 awards in due course. The blocks awarded to date have the potential to further diversify our asset base and provide optionality within our portfolio. Deltic is committed to exploration within the UK and a regular, predictable licensing process remains critical to maintaining domestic gas production, supporting jobs and delivering energy security."

[apotheki] 01/2/2024 07:41

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 that it has been provisionally awarded two licences over three part blocks covering approximately 226 km2 by the North Sea Transition Authority ("NSTA") in Tranche 2 of the UK's 33rd Offshore Licensing Round

[sawney] 01/2/2024 06:04

Deltic's 29/4b sandwiched between 2 blocks awarded to Shell...??

Zoom in and click on a pink block (33rd round) east of Aberdeen...

[sawney] 01/2/2024 05:21

Looks like Deltic have been awarded a couple of licence blocks...

[dr patience] 31/1/2024 12:51

Therealdeal25, any sources wrt the deal being done? ("Been reliably informed they are trying to do a deal with a producing asset!")
Sounds intriguing; not the kind of deal I had expected, but why not?!

[danmart2] 30/1/2024 21:03

Is the share price returning to pre share consolidation price levels?

[soilderboy] 29/1/2024 19:26

Who knows!. Unless you know someone in the company, we are totally reliant on RNS news. As always, it's a waiting game. When doing research, though, you can sometimes get snippets of news that can give you an idea, although never concrete.

[fhmktg] 29/1/2024 09:00

Will they close a deal before the drilling in Q3/44?

[soilderboy] 29/1/2024 08:56

I think we are in a great position. If there's lots of interest, then we are in a great position to do the best deal we can. It's not like we are desperate to unload.

[therealdeal25] 28/1/2024 16:48

Well if it brought in an income I would be welcoming it! As we need funding anyway we can get it to bring the other drills to fruitation, and we won’t be diluting shareholders existing holdings! But yes depends on the deal as stated above, how much we have to give away for the producing assett

[bountyhunter] 28/1/2024 10:10

That would depend on the deal.