Deltic Energy Share Discussion Threads

[forethought] 28/10/2024 10:55

The inevitable shake in action. Suits me. Confident of a positive result here. How positive we'll see. I fancy 21p if we get best case.

[cat33] 26/10/2024 15:45

Great piece from Jim https://oilman.beehiiv.com/p/oilman-jim-s-letter-october-26-2024Worth reading

[saint in exile] 25/10/2024 09:39

Maybe on the other exchange

[reba] 25/10/2024 09:28

now it appears late

[reba] 25/10/2024 09:00

Manipulation folkes, sold 100k 33min ago not showing.

[saint in exile] 24/10/2024 17:25

Weathers looking fine for the foreseeable

[oilretire] 24/10/2024 15:02

Sorry ohisay, no idea, too many unknown variables including the weather.

[muffster] 24/10/2024 14:45

It's an oil leak

[saint in exile] 24/10/2024 14:34

Must surely be a leak if the initial RNS on the 21st didn't move it then something has changed to spike it up today.

[ohisay] 24/10/2024 14:22

Oilretire based on your experience when would you expect a statement on results here.?
More like next week than this week ?
(Asking for a friend)

[ohisay] 24/10/2024 14:12

Yes good point re Viaro .

Market is quite manic depressive sometimes isnt it.?

[oilretire] 24/10/2024 14:04

Said it before, but on a success case there's two obvious buyers for what would be a relatively simple tie back development. Dana to develop Selene 50/50 with Viaro.Or Viaro to buy them both out and develop solely. Given they're already willing to go solo on the infrastructure and existing production by buying out Shell & Exxon, I wouldn't be surprised if that's the outcome to simplify the development of Selene further.Let's get a commercial declaration over the line first though. Which is hopefully what's leaking and driving today's increase.

[dillydally2] 24/10/2024 13:41

10k dump at 6p

[apotheki] 24/10/2024 13:00

Thanks cashandcard for your posts and you might well be proven to be right. However my view on the other side of the coin is that Selene is a totally different kettle of fish to Pensacola and therefore there could potentially be a willing buyer or even buyers out there for DELT's stake.

Circa GBP£20m would in my opinion be a great initial war chest to go and emulate the likes of LSE:SEA

[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