George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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I totally agree but did I miss something?? What's going on today?!
I hope Malcy's right, and sooner rather than later. Starmer and his hordes are getting their warpaint on to end British O&G production.
I think DELT has got all the credentials to be the best performer this year starting from such low mcap and the market is only just waking up in my opinion
Malcy evidently has a position.. ;>
“I have slightly rejigged the numbers for the company as a result of this deal but either way there is phenomenal upside, any success at either Selene or Pensacola would make my TP of 200p per share look ridiculous. Deltic must have a very good chance of being a ten-bagger from here as despite reasonable performance this year of a 30% rise in the shares, any similar news from Pensacola or of course the Selene well would dwarf that move.”
32p paid 🤔
Malcy on DELT
https://www.malcysblog.com/2024/02/oil-price-zephyr-petrotal-europa-deltic-jadestone-and-finally/
Just for info, updated presentation on their website released today. It's under "Investor Relations" then "Presentations"
3 min 30 onwards.. How is Penascola farm out progressing? It’s going very well blah blah.
He’s playing a blinder here. Excellent stuff ..
Yeah Renndava, I also thought that was an interesting comment from GS. But it doesn't surprise me that Shell have a higher GCOS for Selene, as Deltic never seem to deliberately over exaggerate their assets, which I think shows them in a good light and in my view trustworthy. So I agree with you Dr P, what's not to like!
Indeed...
GS is a fairly humble, understated guy, but there are lots of really encouraging clues in what he says, including the fact that Shell is very bullish about Selene. What's not to like!!!
Didnt realise Selene was being classed almost as an appraisal well. Shell have COS as higher than 70%. Incredible!!
Dana farm in deal when the approval rns lands this will be 60p minium I guess
Excellent interview, thanks OP
Also, don't forget that this farmout is not just Deltic centric.
Dana has come in as a new major partner, buying in to the previous agreement & obviously with the full agreement of Shell. If successful, this will open & expand the possibilities of future partnerships.
Also, with the Selene project etc, Shell will have kept a "Risks Log" with any key changes likely going up to main board level. Several of the risks will have related to Deltic financing their side of the agreement, and no doubt the mitigating action necessary if Deltic say went into liquidation, or was say taken over, along with the achievement of progressive milestones.
These risks will have changed considerably with the Selene deal - even those flashing red (red, amber, green) will have likely changed status, and will be much less likely to become issues. Risks tend to become issues when they bite you hard on the a..se!
The Selene deal is a massive boost to how Deltic is seen as a prospective Partner & itsoverall status in the exploration arena.
Status after Selene farm down (this is obviously a 2 step process now):
(all in pence)
boom.boom 35/15 (20 if partial)
Glide 40/5
InsideLeft 104/6
SouthEast18 60/18
No.2 105/12
Butcher-boy 120/19
Titmnttm 90/12
MarineConsult 55/10
Purdey1 80/15
Dr Patience 71/13
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The simple question was: what happens, on close, to the Delt share price on the day of a confirmed funding deal (the expected outcome) or a message saying funding attempts through monetisation/ farm down have failed (ie placing process must be initiated)? Prize: the honour and glory!😀
No more entries obviously...
GGG, probably depends on the deal to an extent, but what you are saying makes perfect sense. I have actually been advocating for some time that fundraises would have been better for both assets, but if you see the widespread fear and the associated depressed share price, mainly because of that possibility, then it is also obvious why the CEO is pursuing the strategy of monetisation/farm down.
In any case, Pensacola is already far more derisked (as also kindly highlighted by SE18, JD and getafgrip) so a decent deal ought be very feasible. It could come within a few days up to max. 3 months from now, I think
If not a good deal, GS should just walk away and do a fund raise.
Selene f/o is smart. Good deal by the looks of things. Even smarter would be to raise £10m for drilling Penascola. This is a discovery and they shouldn't give away any more of it for a relatively small outlay on an appraisal well. Expecting a raise to come once the sp has kicked up a touch more. GLA
I also agree on this. Selene isn't yet a discovery so potentially more of a risk compared to Pensacola, so any deal for Selene would have to be pretty generous to the other party to persuade them to take the risk, plus funding for Selene is a touch more urgent than for Pensacola. So when it comes to an actual Discovery like Pensacola, I would expect Deltic should be able to strike an even better deal
Exactly right Jack - Selene is almost a future sacrificial lamb - it gives Deltic 2 x big partners & shows the ballpark negotiating figures, this really pressurises a better deal faster for Pensacola, and several interested investing parties in the Southern North Sea have already missed out on the Selene deal, so they might come up with a better deal.
I think Delt have played a blinder in releasing today's news on the Selene prospect, attracting an established operator like Dana.
Remember they still have the Pensacola Discovery in their back pocket, and any news on this potential farm down would logically be on much better terms.
Jack
It will drop back down though
as news is a long way off re drilling
SB - Deltic Energy retains a 25% non-operational stake in Selene. As it stands, at no further cost to them, and if nothing else changes Deltic is destined to be a producer of 25% of the oil from Selene, albeit non-operationally - Deltic has a choice whether it becomes a producer or not.
I’m just waiting for BCE and PRD to drop good RNS’s and then I’d very much like to increase my holdings here substantially.
Personally I think it’s a great long term hold and could very well.
Starbright, you are spot on, GS a smooth operator!!