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"Soon be a 1P share at this rate" - somebody clicked on "Recommend" on that post. I wonder if they have changed their mind.
"a clumsy announcement about ‘delays’ and will have learned a lesson only to announce firm information" - a lesson in life is that often there are two ways of looking that things. What someone thinks is clumsy might be seen by someone else as sensible. I prefer to have a warning, information or whatever you want to call it, about delays rather than having all kinds of rumours circulating and they cause the sp to drop.
Exploration, GeoChem, good to have the knowledge of 2 on this board, thanks.
Understand NDA's have signed quite a few, my point is GS should be more proactive to jolly Shell along. Maybe he is behind the scenes. Shareholders being treated as mushrooms does the SP no good whatsoever.
Patience is always required with AIM companies if not interest starts to wane.
Let's hope for news at the AGM if not before.
Exploration, a >96 hour DST is classed as a EWT and very difficult to permit. I do DST's, waiting for one at the mo. A 24hr main flow period is about the most you can get a permit for presently without mountainous quantities of DEC/NSTA submissions. At the end of the day, this is likely a finder well and I doubt any DST is likely though Shell have pockets deep enough. I'll ask the well test boys if they know anything when I get to play with my toys on the well coming up. ATB - GeoChem.
FD
Deltic managed to wipe £5 million off our market cap with a clumsy announcement about ‘delays’ and will have learned a lesson only to announce firm information.
It follows Deltic will only announce firm drilling dates when officially informed by Shell exactly when it plans to deploy Volaris 122 to drill the Pensacola prospect.
Even then, we won’t hear much about drilling results because Deltic is constrained by a confidentiality article in the farm out agreement requiring Shell to approve any announcements.
Having said that, it would be something of an achievement not to encounter gas shows in the Zechstein or deeper Carboniferous at Pensacola. But what really matters is the result of a well test, (say >96 hours duration) if gas or condensate is discovered - and such a test must be authorised by NSTA. Also, I don't know if testing costs are carried by Shell or whether Deltic is liable for a share.
So we’re in for a very long wait for definitive results in my view.
"Instead of making threats the government should be talking to them" - the government was talking to them. It was a few weeks ago when Kwarteng wrote to them and ASKED them to accelerate and maximise production.
j1, exactly my point a few days ago. GS should be giving Shell some ear-ache.
Companies such as Shell need to be actively encouraged to get on with drilling sooner rather than latter. I suspect the government and consumers are more desperate for them to do this than the likes of Shell are themselves. Instead of making threats the government should be talking to them.
Any Windfall Tax can only be Levied against Companies realising exceptional profits. Deltic are not making any profit and unlikely for sometime yet.
j1osf - no windfall tax on DELT. A windfall tax would only be applied to the major companies making massive profits, and see thsi -
UK Chancellor Plans To Levy Windfall Tax If Energy Firms Fail To Reinvest "Enormous Profits"; Report
https://www.zerohedge.com/political/uk-chancellor-plans-levy-windfall-tax-if-energy-firms-fail-reinvest-enormous-profits
So if they invest their money they could avoid a tax hit - invest it where? I think in DELT would be a good place.
Who knows. Any sniff of drilling and this will move north.
Shell knew they where going to make a massive profit before they announced a delay in drilling. They also knew the effects on the economy of high energy prices and the prospect of a windfall tax. Delay drilling and make the government think twice about a windfall tax. Just a thought.
Very unlikely when they have already committed to drilling with the OGA. They are also drilling the Edinburgh well at the moment that spudded in March
Are the delays in drilling a response or pre-response to the prospect of a windfall tax?.
The last update caused the issue with delays etc, hence the sell off.
I can't say you are wrong SuperRoty, about them possibly raising cash, but I doubt it. In the Final Results they said "our strategy of identifying opportunities and attracting high quality partners to support drilling" and now that Kwarteng has asked the oil majors to "accelerate and maximise production", the partners might stump up more cash to speed up drilling, or even new partners come in with cash. Just my humble opinion.
Despite all the cash in the bank, it looks to me like some form of raise coming to keep things on track if the first drill is a duster.
One of the biggest drills on AIM is coming up in the next 3 months. No doubt this was sold off on the last delayed update, I’m sure it will build again and much harder with news flow
Don't panic Mr Mannering
Noel you are someone that talks sense. Hats off
"Soon be a 1P share at this rate" - you must be new to stock market investing. Shares go up and down, and up again. Patience is required. I saw this dip as a buying opportunity and bought today. I see back to 3.5p much more likely than 1p - very much more likely, although I admit that the dip might not yet have bottomed but I don't think the bottom is far away. I bought now rather than trying to catch the bottom because the announcement could come at any time.
Time for an announcement. This share price slide is not good. Why constant delays in drilling. Soon be a 1P share at this rate. GS not doing his job.