Deltic Energy Share Discussion Threads

[hiddendepths] 30/4/2024 10:44

This country is embarked on a suicide mission!It's hard to believe how stupid this situation is. Why would we refuse to develop our own oil and gas when it just displaces the production elsewhere? To countries without our environmental standards and many hostile to the UK. Increasing expensive LNG imports with ships which need a great deal energy to refrigerate the gas? AND the government gets nothing at all in tax on imports.Then again we haven't been using the battery farms the government was supporting to make more efficient use of volatile wind and solar. Instead we've imported more gas and even used coal.I simply see no case whatever for pursuing such stupid policies which increase environmental pollution. I despise the Tories and Labour equally for such idiocy! Unfortunately most people in this country are equally deluded....

[cashandcard] 30/4/2024 10:43

This is unfortunately a situation that has been going on for a long time now. Its not just the current government but every government going back to the end of Gordon Browns days in office.Here is a statement from famed North Sea oil boss, Alan Booth, of Edinburgh oil and gas, and Encore oil fame, from 2011;"Whilst unexpected tax changes are never welcome, given the current state of the nation's finances, one can at least rationalise the desire to raise revenues from fields that have already paid back their risked investments during a time of very high oil prices. However, failure to encourage the discovery of new fields as well as the development of newer, smaller and difficult fields on fair and predictable fiscal terms is in no one's interest. Undeveloped and undiscovered oil and gas pays no taxes, creates and sustains no employment and a slowdown in UKCS activity will simply increase the UK's reliance on imported oil and gas from less politically stable, if not as fiscally unpredictable, parts of the globe"The bit about 'undeveloped and undiscovered' oil hits the nail on the head here. Nothing much has changed, just a different bloke in Downing street.Cash

[chutes01] 30/4/2024 10:20

shell got a better offer elsewhere in the world

[barnes4] 30/4/2024 09:27

You can’t beat the ole market

Ole GS might as well have sat on his hands for the past 10 years as this is worth less now than it was then

Keep the red flag flying high

[talkman2] 30/4/2024 09:13

Don’t forget that billionaire Lord Spencer owns a significant part of Deltic . I think it’s 18%.

Don’t think this is just going to be given back to Shell. Today’s RNS is brinkmanship and possibly a prelude to an outright sale . The Selene farmout is worth $47 million. Why don’t Dana just bid outright and get the rest of Selene and Penescola for the cost of the farm out . The market reaction is ridiculous.

[mynameiskhan] 30/4/2024 09:08

In my opinion there plan was to farm out some % to partner, and then raise the balance amount. As 12m is huge amount to raise to raise based on market cap and equity market conditions.Unfortunately, they didn't the partner due to a number of factors, and it may not worth to dilute shareholders to fund Pensacola. This may also dilute Selene valuation. Unfortunate for company! What a great asset but unfavourable macroeconomic factors

[sawney] 30/4/2024 09:07

I'm into conspiracy theories at the moment

This from only 27 days ago....

"Our attention is now firmly focused on drawing the Pensacola farm-out process to a successful conclusion and we look forward to updating the market in due course."

Clearly there was someone there....


I think there's more to this....hence the end of May deadline...??

[candlestick1] 30/4/2024 08:59

Never trust ADVFN numbers. Don't think I've ever known them to be correct. MCAP is currently approx £20m

[barnes4] 30/4/2024 08:59

Someone is buying big as well

[barnes4] 30/4/2024 08:58

What an absolute mess
Sack the lot of them 🚩🚩🚩

[tsmith2] 30/4/2024 08:52

feels like a very interesting speculative buying opportunity

[oilretire] 30/4/2024 08:51

At this value it leaves the door wide open for a hostile bid from any number of companies that have already been through the data room before Pensacola simply gets handed to Shell/One.

[nigoil] 30/4/2024 08:47

How are your 2.3p PPP shares doing purple11?..... LOL

Simples!....... :-)

[ashkv] 30/4/2024 08:44

It makes more sense to sell Deltic outright than place at 20p - which if I recall is an all time low SP!!!

Anyway now it is up to Swindells!!! He has a lot more at stake and appears a married family man!!! He has to provide for his family and hopefully doesn't have a big inheritance coming his way :)

[sos100] 30/4/2024 08:40

why couldn't they just do a placing say at 20p when the share price was over 40p🤷‍♂️

sort of thing 'sophisticated investors' like...

[ashkv] 30/4/2024 08:39

At 20p DELT Market Cap -> GBP 18.62 Million - of which GBP 5.6 Million was last reported cash!! No Debts other than payables!!!!

A sale to DANA or Shell for 40-50p makes eminent sense - lets see if it happens.

Poor show on the part of Swindells - disastrous investment for me - now down around 60% :(

From FY 2023 Results "Weighted average number of ordinary shares for the purposes of basic loss per share -> 93,096,600"

[hsfinch] 30/4/2024 08:38

How on earth can Deltic be worth £300million. With Red Ed Milliband months from office. Chariot on Steroids. Finchy

[nigelpm] 30/4/2024 08:35

I don't think all is lost and Selene on its own is worth multiples of current share price.

[purple11] 30/4/2024 08:31

youve all been dealt with

now pull your pants back up and shuffle off

[oilretire] 30/4/2024 08:29

The only folk laughing this morning will be in Shell. They know what they're sitting on at Pensacola. Must be rubbing their hands........

[ashkv] 30/4/2024 08:25

Swindells owns approximately 3.5% of Deltic Energy - so has a lot more at stake.

Lets see if he is willing to bet it all on 70% Chance of Success Selene or he is going to go home with whatever is left of his poker stake!!!

Cannacord have in below valuation implied a 67% Chance of Success for Selene!!!

At 21p - DELT is a high risk play with multiples upside / possibly 3-4x on Selene success and 75%+ downside on a duster!!! Also Pensacola not ruled out - I have a positive gut feeling -lets see if bears out :)

A crypto share :)

It will be an interesting few months for DELT!!!

Cannacord today.

While there is still some hope that Pensacola funding may be found over the next month or so, we still believe that carrying some value for it in our target price is reasonable. However, naturally we heavily cut that value to reflect the clear and near-term risk of asset loss.
As a result, we reduce our risked NPV10 based target price to 110p (from 180p). That includes the following: Selene, risked 89p (unrisked 133p); Pensacola, risked 8p (unrisked 96p); Syros, risked 15p (unrisked 148p).

[nigelpm] 30/4/2024 08:20

Ditch Penescola, reduce opex to a bare minimum, focus on Selene and see what happens.

[ashkv] 30/4/2024 08:18

Swindells needs to put Deltic to bed with a full scale sale of the company!!!

The business model for Deltic Energy is no longer viable!!!

Does not read through positively to PMG's non-financed drill? Leaving PMG only with minimal Dutch assets and cash!!!!

[sawney] 30/4/2024 08:17

Now back to where I started...lost a shedload in the blink of an eye...of any one of those clowns in Parliament...

[nigelpm] 30/4/2024 08:14

22p looks worth a punt to me.