Deltic Energy Share Discussion Threads

[soilderboy] 30/9/2024 05:51

Does Richard know something we don't?

[bountyhunter] 28/9/2024 13:50

Pigs might fly! 😉

Not that I'm expecting that given the 70% CoS and also I think it's too early for anything newsworthy to have leaked anyway.

[therealdeal5] 27/9/2024 16:45

If bad news comes, Sneller needs investigating for sure !

[ohisay] 27/9/2024 15:35

Indeed .
This would have bounced even more today but for that 6m overhang having to be absorbed .

Bizarrely having completely exited a fairly large position in April after the results (as I posted here at the time) at circa 35p as I remember.I now find myself with the same position at an average of 5.6p.
I'd no intention of doing this but there is nothing in the price today for a success case at Selene which back in the day was always worth more than Pensacola.
This is a non stranded asset unlike Pensacola with a success case of 15mboe net to DELT on a 70% COS.
Cannacord have basically valued this at 5$/boe .
Its gas of course but even if you halve this its worth £30m to DELT.

You can keep derisking because its a binary bet here for sure but this is as good a punt as I've seen in a while.
DYOR and all IMHO.

[oilretire] 27/9/2024 15:09

Well isn't getting fully tested as per earlier RNS. So with the rig there till the end of October I doubt they'll be at the logging and sampling stage yet. It'll surely be Sneller going from 9.9% to below 3% and maybe even out fully.

[mynameiskhan] 27/9/2024 12:18

My understanding from yesterday drop is, if there is any news leak, then drill result likely on Monday. If there is no news on Monday, it seems all is well, and they have moved to next stage, testing of wellYesterday drop could be result of 6m sell order, and nothing else.

[kibes] 27/9/2024 10:59

'This is exploration in a mature basin. You examine, you discover, and you move on.'- And then walk away!

[ohisay] 27/9/2024 10:10

Indeed ..given the size of the Selene prospect and COS its as good a punt as any given the current EV.

[oilretire] 27/9/2024 10:00

At least we know now it was Sneller that trashed the share price yesterday more than anything else. Like you I wonder why now. Might as well go the distance till Selene outcome is known at end of October

[ohisay] 27/9/2024 09:49

Oilretire..
On a success case at Selene, even a fire sale of the asset to Viaro should raise a substantial amount of cash.

Exactly .
This as well...The Company has incurred expenditure since incorporation on UK exploration and appraisal activities that gives rise to a potential tax asset of over £57 million that can be utilised to offset future taxation.

Hard to figure what Sneller was thinking about yesterday.
There was nothing in that RNS that wasnt known before... other than the good news that they'd come to an arrangement with their creditors.

[currypasty] 27/9/2024 09:38

there you go!

[currypasty] 27/9/2024 08:18

6 million dump at 4p yesterday may have affected price a little 🤣

[sam_] 27/9/2024 07:22

It’s bouncing back up 👍

[soilderboy] 27/9/2024 06:52

They should be taking huge salary cuts.

[oilretire] 27/9/2024 06:52

On a success case at Selene, even a fire sale of the asset to Viaro should raise a substantial amount of cash.

[barnes4] 27/9/2024 06:48

How and why are these idiots still in jobs

Strike oil and hand over the find for free then they have to pay for the drill

You really can’t make this stuff up

[nigelpm] 27/9/2024 06:22

It's not good sense though as cash will be down to 2.7m in a few days and they'll need funding soon. Another basket case ramped tonight heaven by malcy. He really should give this game up.

[ohisay] 27/9/2024 04:24

Some good sense from Malcy.

I want to just mention the settlement that Deltic has reached with its JV partners on Licence P2252, limiting the Company’s liabilities associated with withdrawal from licence P2252 to £1.9 million with payment of circa 50% of this amount deferred for a period of 24 months. This in my view could have been much worse and whilst in no way enough to make up for the loss, somehow makes up a little bit.

Right now Deltic are well placed, carried at Selene and with cash of some £3.7m in the balance sheet can look forward to the drilling programme with significant optimism. Accordingly I think that the share price reaction to this very good RNS is way more than harsh, Deltic are in the middle of drilling a well in which it is fully carried and if it were to come in should be worth multiples of the current share price. There is no reason to believe that a price a great deal higher than this can be perfectly achievable so down c.40% today is quite ridiculous…

Memo ,
Current market cap £4.3m/Current cash £2.7m.
If its a duster of course all bets are off but it would be an extraordinary coincidence if it happened on results day.
Not to mention it was seen as a 90 day well from the end of July.
With a 70% COS to boot

[priestner] 27/9/2024 02:40

Forethought, the cash balance is projected to be £2.7 million by the end of this month, following the £1 million payment to the JV partners on Licence P2252. Considering they spent nearly £3 million in the first half of the year, it seems likely they will need to raise additional funds soon. Notably, they were unable to secure funding even when they held Pensacola and other assets. This is further complicated by major players like Shell and Exxon exiting the North Sea due to the uncertainties around Labour’s proposed energy policies, which could significantly impact the sector. These policy shifts are contributing to reduced investor confidence as Labour aims to halt new oil and gas licenses in the region. While I understand your optimism, it may be somewhat misplaced in the current environment. I also believe the recent selling could be a sign of anticipated fundraising, where investors are selling now to potentially buy back later at a discounted rate. Nevertheless, I do hope your optimism is realized.

[soilderboy] 26/9/2024 18:59

Buy some premium bonds instead!!!This is another Hurricane Energy!

[therealdeal5] 26/9/2024 15:33

I will buy back in tomorrow has to be the bottom with the drill results around the corner, this is now a prime Take over

[therealdeal5] 26/9/2024 15:32

What’s happened here today?

Round of applause for Mr Swindler! Well done son, 👏👏👏

[forethought] 26/9/2024 14:47

Agreed. We knew they had a commitment anyway. At least we know how much and by when.
This will retrace back up over the next 30 days in expectation of Selene.
Like you.....have doubled my position...and then some.

[ohisay] 26/9/2024 14:38

A truly bizarre reaction today .That RNS was good news in clearing up the uncertainty over their future cash commitments .
I doubled my position at 5p .

[barnes4] 26/9/2024 11:56

What a bloody disgrace