Deltic Energy Share Discussion Threads

[cashandcard] 14/11/2024 08:20

Kibes,They are likely to sell out or farmdown. Too many risks for a tiny outfit like this.Cash

[kibes] 14/11/2024 08:17

Good numbers from Selene but a) Where would Deltic find $75 million to fund its share of development and b) Will the lunatic Miliband allow the development to go ahead anyway?

[apotheki] 14/11/2024 08:10

Andrew Nunn, CEO, commented:

"I am pleased to report that the Selene discovery well was completed safely and within the carry resulting from the farm-outs to Shell and Dana. Getting JV agreement on moving into the Second Term of the licence is another key milestone on the journey from discovery to development for Selene. It also reflects the high quality nature of Selene's reservoir and the expectation of a low cost development with enhanced production and economic potential from the asset.

This decision to move into the second term of the licence kicks off an incredibly busy period, as we support the Operator through the various engineering, environmental and regulatory workstreams that need to be pulled together to support a potential Final Investment Decision. The workstreams now in train are an important signal to our investors as you wouldn't commence this process if you didn't believe there was a material commercial return at the end it. We look forward to updating the market in due course."

[ohisay] 14/11/2024 08:07

Cannacord ..

We make a substantial upward revision to our initial risked NPV10 Selene discovery valuation. That increase reflects a number of adjustments to our earlier projected production, capex and opex assumptions and profiles, and significantly, full inclusion of the £57m tax asset reported in the company's H1 24 results. The combination results in an increase in our modelled net Deltic unrisked NPV10 value to $56m (from $41m), which compares with the company's assessment of $61m.

As a result we increase our risked NPV10-based target price to 38p (from 30p) and we maintain our Speculative BUY rating, noting the balance sheet limitations evolving in 2025.

[ohisay] 14/11/2024 08:04

Another 80k for me at 5.7p..

[cashandcard] 14/11/2024 07:55

This is what it's worth at FID per their modelling. I suspect they will either sell this to fully exit or farmdown some of their 25% for cash and a carry on the residual stake.Think it's better to sellout altogether given the timelines involved. Nevertheless, very positive the JV is moving Selene towards development.Cash

[lmdps_crony] 14/11/2024 07:49

50 Pence?
Reminds of that famous rapper:

[forethought] 14/11/2024 07:41

So does that make this a potential 10 bagger.

[fhmktg] 14/11/2024 07:39

I wonder who will buy this and when?

[cashandcard] 14/11/2024 07:29

"This preliminary economic evaluation indicates that the P50 discovered volume is more than twice the minimum economic field size and in the proposed assumed development scenario, Selene would have a post-tax NPV10, net to Deltic, of $61M (50 pence/share equivalent) which supports Deltic's decision to support the entry into the second term of Licence P2437 and progress the work required to reach FID"

[forethought] 08/11/2024 17:54

Shore have been the main MM on the offer all week and a bit more. They've been squeezing the price down to get the shares offloaded. The 600K trade at a low price is probably them dealing with either a distressed seller or possibly the latest director's departure.I'm rather hoping they're done.

[ohisay] 08/11/2024 12:36

It will be Viaro (not Shell) who clearly have a different attitude to the southern North Sea .

[sawney] 08/11/2024 08:19

Shell won't be here...they'll have probably naffed off to the Nasdaq...

[arcteryx] 08/11/2024 08:15

Shell to play the long game and wait till the share price drops to, say, 2p, and then buy out Deltic for 2.5p ?

[sawney] 08/11/2024 07:50

I see Apache are pulling out of the North Sea...curiously by 2029...if current trends are to go by..the same year Labour will receive a crushing defeat...meanwhile...Miliband is on a mission..

[apotheki] 08/11/2024 07:37

For sure it is but in the UK we are still in a small caps bear market.

[sawney] 08/11/2024 07:36

Someone please tell me Selene is at least worth more than the market cap...:-(

[pipersand] 07/11/2024 17:26

A merger with a cash generating Oil and Gas Producer seems the only option with this company now, or sell to the highest bidder. That way management costs can be reduced accordingly. Their whole business model is a failed one, and they need to be honest about it. The directors cannot expect to sit around all day taking a salary without providing any value to shareholders. It would be interesting to know what Michael Spencer thinks of all this. Is he happy to carry on with this company continuing on in this fashion?

[forethought] 07/11/2024 12:35

Just done a quote. Can buy cheaper than selling it at the moment lol.

[eddieraver1] 07/11/2024 11:09

This one looks like a dead end.

[kim_clay] 07/11/2024 11:02

Reba- No income, not much cash and a need to fund or sell Selene.Expanding into US and/or Africa as mentioned in Upstream today, cannot be done without cash or by issuing shares to third parties (or a fundraise).They need to consider a merger or two both to cut overall management costs but to broaden the portfolio. Any two other listed merger candidates you can think of with assets in the US and or Africa, with a useful UK revenue stream?? It'll only require one management team and Board rather than three at 1mm+ GBP each.

[ohisay] 07/11/2024 10:02

Just bought 50k at 5.14p.

Very surprised I could get that .

[reba] 05/11/2024 15:47

hell of a spread on the share price WHY?