Deltic Energy Share Discussion Threads

[forethought] 24/10/2024 12:00

A delayed reaction to the encouraging drill news earlier this week. Nice to see the market waking up and catching on after such an enormous capitulation like fall in the share price recently.

[cashandcard] 24/10/2024 11:57

The real value for DELT is to stay in the game as a cash shell, hold onto whatever money they can, raise what via possible asset sales and go buy foreign assets.Cash

[cashandcard] 24/10/2024 11:56

Apotheki,Pensacola was given away as they had no way of funding it and also no one would pay anything for it given the disaster that is UKCS oil and gas policy.Selene maybe big, it maybe close to infrastructure so tie-into sales in 2-3years, but how are DELT going to pay their share of costs exactly??? That is where they have no way forward, if they cannot get financing for it, the industry will just wait until DELT is very low on cash and cannot meet cashcalls, thus forfeight their rights.Why would it be any different? There are no white knites in this oil and gas environment.Cash

[apotheki] 24/10/2024 11:45

Reference your earlier post cashandcard - basically Selene is a very different beast as it is near infrastructure plus the operator FTSE100 SHELL have confirmed that it will not require any appraisal wells and will therefore go straight into development.

SHELL obviously have deep pockets so LSE:DELT have already hinted that they will take the money and basically try and emulate the likes of LSE:SEA

[apotheki] 24/10/2024 11:35

Andrew Nunn, CEO, commented:

"First of all, I would like to thank Peter Cowley for his Board contributions and support over the years. We wish him all the best in his future endeavours.

Our immediate focus is the ongoing Selene exploration well, where initial drilling indications are encouraging. I look forward to updating the market on the progress of this highly material well.

The Board has considered the best way to deploy the Company's experience and expertise to create value for its shareholders. As always, the balance of geological, operational and political risk must be considered and we are actively assessing a number of attractive opportunities in geographies where more supportive policies towards oil and gas development exist.

The key changes we have announced today, in addition to a raft of other less significant changes, will have an immediate and material impact on the Company's operational expenditure and are expected to result in savings of 40% compared to costs previously budgeted by management for 2025. These savings are key to extending the time period in which to identify and incubate those new opportunities that we believe will help towards stabilising the business and providing a platform for future growth supporting our objective of creating positive returns for shareholders."

[apotheki] 24/10/2024 11:33

Drilling Operations - Selene Exploration Well

Well operations continue on the high-impact Selene exploration well. The Shell operated well reached its total target depth of 3540 metres on 17 October 2024 and encountered a 160 metre thick section of Leman Sandstone with gas present throughout.

While initial observations are clearly encouraging, Deltic will need to wait on further results from the logging and fluid sampling operations before providing a comprehensive update in due course.

Deltic has a 25% working interest in the Selene licence which is located in the heart of the long-established Leman Sandstone gas play in the Southern North Sea. In a success case, the intention would be to proceed directly to field development planning as further appraisal drilling is not considered to be necessary to support a future development investment decision.

Blackadder Licence P2672 - Farm-out Interest

Given the positive read across from Selene to the Blackadder prospect, Deltic has been in receipt of farm-in interest in the licence from a number of companies. The Company will look to capitalise on this third-party interest to materially reduce or eliminate its cost exposure to the forward work programme on this licence. To allow time for these discussions to mature, Deltic intends to defer the commencement of planned work programmes until at least mid-2025, minimising any near-term expenditure.

[cashandcard] 24/10/2024 11:29

Chartist Zak Mir - this will be 10p in short term...

[soilderboy] 24/10/2024 11:28

What's happened. No RNS. Is this oil we have?

[saint in exile] 24/10/2024 11:15

Going nuts on L2

[forethought] 24/10/2024 10:50

Double digits not far off. Bring on the flow data.

[forethought] 24/10/2024 09:42

Level 2 getting stronger. More MMs on the bid now.

[forethought] 24/10/2024 09:38

Bid is now really more than the mid price currently. They want your stock. Accumulation going on.

[cashandcard] 24/10/2024 09:22

I would urge shareholders here to continue 'hounding' management on securing assets outside UK as fast as possible.UK government over many years have screwed the industry here. Management need to get on with securing assets abroad now, don't get distracted by Selene, it will be what it will be. It's the future that matters, nothing else.Cash

[bri15] 24/10/2024 09:16

Six months ago share price was in the forties, enough said.

[forethought] 24/10/2024 08:13

Agreed. Formerly known as Longboat, share price got hammered in June, similarly to Deltic. In a much better place now.

[apotheki] 24/10/2024 07:45

Perhaps investors are looking at the likes of LSE:SEA and starting to get it [that LSE:DELT could get circa GBP£15m to GBP£25m for Selene and then deploy the funds in immediately income producing O&G assets else where in the globe [where they are not so stupid reference the transition to net zero] such as Asia]

[ohisay] 24/10/2024 07:29

PERKY TODAY ..I can sell 100k at 4.9p just now...

[kim_clay] 23/10/2024 11:34

I think you are correct, assuming the logging and sampling don't throw up anything surprising it will move straight to development planning. After the Pensacola fiasco I don't think they'll attempt to stand their corner in a development, they stated "extraction of value from Selene" to put cash on the balance sheet to deploy elsewhere. When it comes to value, the recent comparator is the Victory Gas Field development which required no further drilling and was also 18km from the nearest infrastructure. Reabolds figures :180 bcf gas, NPV10 of 193mm GBP, sale price 32mm GBP , that's 180k GBP per bcf and a sale at 18% of NPV . Applying the same factors to Selene suggests a number of 15-20mm GBP to DELT , Depending on level of interest.

[steelwatch] 22/10/2024 20:50

In the success case, I think Deltic will be looking to sell rather than face the financing headache of funding their share of development costs. Better to buy into a low cost producing overseas asset, e.g. offshore malaysia or similar to generate some revenue whilst also picking up some exploration/appraisal assets to work up for the future. Case in point, Seascape, formerly Longboat:

[ohisay] 22/10/2024 16:33

Yes ..While Charlie Sharp et al have a ludicrous price target here its clear that we have gone the full 180 degrees from any reasonable assessment .Selene unlike Pensacola isnt a stranded asset .
On a success case it wouldnt take much to make it commercial.

[jakes114] 22/10/2024 13:12

Interesting article
ttps://ukinvestormagazine.co.uk/deltic-energy-selene-well-could-prove-to-be-transformative-shares-at-4-65p-rated-as-a-speculative-buy-by-its-brokers-but-with-what-target-price-read-on/?mc_cid=78a1ed5547&mc_eid=5fcb29a068

[bountyhunter] 21/10/2024 16:03

What Labour hasn't worked out is that 78% of nothing will be nothing in tax revenues if they carry on with their stupid 'windfall' agenda resulting in increased imports and a higher carbon footprint, having killed off any incentives for domestic production!