Deltic Energy PLC Provisional Award of UKCS Licences

RNS Number : 2346N

Deltic Energy PLC

03 May 2024

 

 

Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources

 

3 May 2024

 

Deltic Energy Plc ("Deltic" or "the Company")

Provisional Award of UKCS Licences - 33^rd Offshore Licensing Round

 

Deltic Energy Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, is pleased to announce that it has been provisionally awarded two licences over eight blocks and part blocks by the North Sea Transition Authority ("NSTA") in Tranche 3 of the UK's 33^rd Offshore Licensing Round ("33^rd Round"). 

 

The blocks provisionally awarded to the Company in Tranche 3 are as follows:

 

REGION	SUB-AREA	BLOCKS
SNS	Blackadder	47/5b, 47/10c, 48/6c
	NE SNS	43/2b, 43/3b, 43/4b, 43/9, 43/14

                       

All blocks are being provisionally awarded to the Company on a 100% equity position and contain a mixture of small discoveries and low risk, infrastructure led exploration prospects in the Southern North Sea Gas Basin.

 

In light of the current fiscal and political environment, Deltic will carefully consider whether accepting further licences in the UK is in the best interest of the business and its shareholders.

 

The Company will update the market in due course.     

 

 

Graham Swindells, CEO of Deltic, commented:

 

"These further Tranche 3 provisional awards further demonstrate the ability of the Deltic team to identify and acquire valuable exploration and appraisal acreage within the UKCS. We will now assess each of the provisional awards and carefully consider which, if any, of these awards the Company will accept."

**ENDS**

 

For further information please contact the following:

 

Deltic Energy Plc	Tel: [phone]
Graham Swindells / Andrew Nunn / Sarah McLeod
Allenby Capital Limited (Nominated Adviser)	Tel: [phone]
David Hart / Alex Brearley (Corporate Finance)
Stifel Nicolaus Europe Limited (Joint Broker)	Tel: [phone]
Callum Stewart / Simon Mensley / Ashton Clanfield
Canaccord Genuity Limited (Joint Broker) Adam James / Ana Ercegovic	Tel: [phone]
Vigo Consulting (IR Adviser)	Tel: [phone]
Patrick d'Ancona / Finlay Thomson / Kendall Hill

 

 

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