Deltic Energy Share Discussion Threads

[apotheki] 07/2/2024 15:50

Canaccord Genuity lowers target price on Deltic Energy

(Sharecast News) - Analysts at Canaccord Genuity lowered their target price on exploration and development firm Deltic Energy from 185.0p to 160.0p on Wednesday following the recent farm-out of 25% of UK licence P2437.

Deltic announced the farm-out to Dana Petroleum of a quarter of P2437, which contains the Selene exploration target scheduled to be drilled in Q3 24.

Canaccord Genuity sees the transaction as "an excellent result" for Deltic as it retains a significant 25% interest in Selene while now being effectively fully carried for the upcoming well costs.

"As a result, Deltic will have farmed out separately to two high-quality partners, first Shell and now Dana, a total of 75% of its original 100% interest in Selene. The outcome is that Deltic is now fully carried for its 25% share of the Shell estimated success case well cost of gross $47.0m (drilling and testing). Deltic expects this transaction to complete in the near future,"" said Canaccord, which reiterated its 'speculative buy' rating on the stock.

The Canadian bank added that "much more important" than its mechanical target price change was the presence of "two excellent partners", noting that Deltic has effectively fully carried Selene well participation, and the company's "still significant 25% ownership", which provides "meaningful upside" in the success case and room for a further farm-down or outright sale in the future.

[fhmktg] 07/2/2024 15:40

Let's see what transpires for Pensecola, if that comes quickly Shell might not want that project to get too crowded.

[iamnotanumber6] 07/2/2024 15:37

unreal desperately trying to claw his losses back.......

[apotheki] 07/2/2024 15:30

Must now be the potential for LSE:DELT to start to attract some TAKE OVER offers as they are way way way way undervalued.

[therealdeal25] 07/2/2024 15:10

Ash it seems that way buddy, I am thinking they may be in talks already, but adding value through farm outs with no cost to themselves, free carries will add big value, very smart move, I see this at £3 a share minimum

[apotheki] 07/2/2024 13:41

Hybridan Small Cap Feast: 07/02/2024

Deltic Energy 31.5p £29.3m (DELT.L)

The natural resources investing Company with a high impact exploration and appraisal portfolio focused on the Southern North Sea announces that it has entered into an agreement in respect of the farm-out of a 25% interest in Licence P2437, containing the Selene Prospect, to Dana Petroleum (E&P) Limited on the following terms: $500K in cash on completion in relation to back costs incurred by Deltic; Dana to carry Deltic for its residual cost exposure to the Selene well (after utilisation of the existing carry from the Shell farm-out) to a value of $5m, and $6m if successful; and Dana to pay its 25% share of costs from 1 January 2024.

[barnes4] 07/2/2024 12:37

Tomorrow Penascola Farm-out?

Inch hi private i’s at it again

Placing imminent????????????

[ashkv] 07/2/2024 11:48

Tomorrow Penascola Farm-out?

DELT a sitting duck for a takeover at such low ball valuation...

[ashleyjv] 07/2/2024 11:14

it's probably along the lines of, this company is going bust, need to raise more money, there is no oil, it's all one big con etc.

I'm half tempted to unblock him just to see if I'm right

[steelwatch] 07/2/2024 09:12

Great to see the sensible thread livening up.

[givmesunshine] 07/2/2024 08:59

Morning Had this on my monitor for ages - got in first thing..DANA ,Shell and DELT. This will rerate over the coming weeking IMO, plus more deals on the way.. Dana alone willing to put on more than DELT Mkt Cap.. Low risk high reward.

[talkman2] 07/2/2024 08:48

Such an incredible bargain at these levels . I think it makes us more vulnerable to a bid at these ridiculous low levels . Mad

[blueball] 07/2/2024 08:43

Great news today.

[nigelpm] 07/2/2024 08:39

Yes - simply the value to Deltic of the costs paid by Dana will be close to market cap.

[barnes4] 07/2/2024 08:39

When is the placement because I’m sure it’s coming now 😂

[apotheki] 07/2/2024 08:35

Excellent point Talkman2

[therealdeal25] 07/2/2024 08:33

All gone quiet here, lmao, how many have been caught out and traded this, makes me soooooo happy, I said this would hapoen, now all the negative posts will be in tow down the line, duster etc, day traders never win, remember that, it’s a mugs game, you reap what you sow, and I am sowing well, love to see day traders get burnt 😂🤣😂🤣7866;

[nigelpm] 07/2/2024 08:31

That's a great vote of confidence - excellent news and Pensacola hopefully follows soon.

[talkman2] 07/2/2024 08:30

Market cap still below the value of the Selene farm-out with news on Penescola still to come . Massively undervalued.

[trickydicky1] 07/2/2024 08:12

Shell.
Shell.
Cairn.
Dana/KNOC.

Over the past 5 years.

The calibre of partner here is just top drawer compared with the possible alternatives in the U.K. SNS.

[therealdeal25] 07/2/2024 08:01

I remember when The Koreans bought Dana from Tom Cross, was a hostile takeover in the end, as he wanted more money for it, Koreans are good honest deal makers, so we have some strong partners now,

[therealdeal25] 07/2/2024 07:57

Ash if it falls fill your boots i will RNS’s coming fast and thick now

[therealdeal25] 07/2/2024 07:56

Well what a blinder GS has pulled off with Dana, here we go