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Feels as though this will made public soon what deal they have going forward for the other licence
Rot1
I tend to agree that everything points to a farm out.
Terms and 3 Party/Parties to be confirmed.
If a good deal can be achieved, the SP will spike upwards and leave drifters behind.
The success and timing of subsequent events may provide SP momentum towards full value that is being talked about.
Jack
New rise up dragon fly candle confrims a new uotrend up
Graham Swindells has clearly said they are progressing a farm out in the last RNS, so any fund raise will be at a minimum if at all, I just hope we dont give a larger % than we need to, unless they sell it all for a hundred million.
Trend is your friend the saying goes..
I expect this to open at 45p or rise past that intra day after that next key level is 55p
Fairdealer, I understand what you're saying and it happens all the time. Personally I don;t have a problem with not being able to participate in a raise unless the offer price is at a massive discount and is a give-away to insiders and those connected.
I don't see mgt offering a large discount here, so it's more about how much they can raise at a decent price. If they can raise most of the funds at a high price with a couple of cornerstone investors I think it could work out quite well. Often the sp increases on the back of such raises as we'd have the financing settled, have retained maximum ownership of a v.large discovery, plus there's less PIs flipping for their 10%. Either way it won't be long until we find out what they've been up to. GLA
FD20, apologies!
Although I would also much prefer a fair participation in any fund raises, I still don't think the last couple raises have been unfair (and by unfair I mean not done at the going price). Perhaps that's a point of disagreement. I cannot comment on the time before my time here under the previous CEO, which may well have been questionable (as per other posters here)
I don't think the approved Resolutions/Special Resolutions will allow for this big a fund raise anyway. I doubt it will happen. GGG's point about a loan is a very good one.
Anyway, apologies if I missed your position; for sure we are a minority! Most are dead scared of a fund raise.
DP with respect, check my earlier posts on the topic of a Fund raise. I have nothing against but have warned previous raises here have not been undertaken fairly. I'll not repeat previous experiences when I was keen to take up shares in raises.
Dr Patience, I agree it makes sense. I think you were conversing with me on this a few months ago when I was looking to get in. Best option from my pov would be to take out a loan for $15m. Second to that would be a loan / raise. Third would be a raise at +40p (25-30% dilution). Final would be a f/o, but not if they're going to give up 10% or more. If a f/o, then I'd be happy if it went to Shell where 7.5% carries us until development. Less partners means it's easier to develop. And, easier to sell our stake to another party if we choose to do so. Anyway, that's my take on things. Reckon we'll drop back to 37-38p with the pattern of slowly gaining value until we get news. Not long now. GLA
So capital letters put in lower case and the word consisting of the male of a chicken + y censored!!
The positive version of smug is what I am looking for!!
in short, i cannot see an offer being entertained at this level!!
most of the big investors have ploughed money in at a much higher price and will no doubt want a multiple on their investment. same for the options held by the ceo. maybe after the 2 drills when the sp is £1-1.5, not now for sure.
i think you will soon see a stream of news from an increasingly confident ceo!! hopefully almost ****y😀
Excellent stuff, even Cookoo must be getting excited, glalth!!!
GGG: I also prefer a fundraise, as that's the way to retain maximum value. I discussed the same here months ago, but I think you and I are pretty much the only ones with this view!!
Into the 40's people. Starting to get a bit of traction here. Now for some big announcements.
You think for arguments sake that Deltic would be open to a buy out offer so near to x2 drills etc ?
Deltic Energy's Final Results for the year-ending the 31st December 2022, were released on Thursday the 20th April 2023.
That makes it most likely that the Final Results for the year-ending the 31st December 2023 will be released next Thursday the 18th April 2024, and possibly before the market opens. So the build up in the share price is largely anticipating some big announcements that will start to fulfil almost "everyone's" expectations!
Funny enough my 1st sell is set at 80p
Looks as if peak in Sep 2022 was around 87p and around 80p again in Feb 2023
Are still waiting for the final round of the licence awards which i believe, will further our relationship with Shell
Keeps creeping higher folks. Reckon this is the start of it and we don;t even have news yet. If they drop an RNS with a great f/o deal for Penascola and firm indication of timings to be drilled in Q3/4 then we're saying goodbye to the 30's for good and will be saying hello to the 50's within months.
When profits start rolling in, imagine what the dividends would be like after buying shares in 20s and 30s.
Old (excuse the typing)
Me if im wrong but it has been to 80p in ln money before only last year ?
Some more yesterday, some resistance around 40-42p but once that is broken shares could move towards the 80p previous highs. In my mind one of the cheapest plays out there DYOR
Conservative estimates i feel but all good news from here