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My guess as nothing landed yesterday, an announcement will be made at the AGM on Tuesday. Probably a cunning ploy on behalf of the BOD who must be fearful, very fearful, of a tortuous face up with shareholders.
Hope many will attend to emphasise the strength of feeling amongst ordinary PI's
You would like to think they are working hard through the weekend but I very much doubt that
Utterly disgraceful. Where is the RNS?
Https://www.heraldscotland.com/news/24210301.labour-windfall-tax-will-make-uk-uninvestable-warns-oeuk/
Labour’s oil and gas tax plans could see the UK " move towards being uninvestable," Offshore Energies UK (OEUK) has warned.
In a briefing for journalists, the trade body claimed uncertainty over taxation and licensing was scaring firms away from the North Sea.
Better get yer granny voting conservative, or kiss goodbye to deltic
Oh no dear david , this has the smell of a rat about it , bunch of wealthy!!! drop a bomb shell rns watch the sp crash ,behind the scenes skull dugery private take over ,cher ching ,but not for us , and no sign of the fca ,there never is when lifestyle shines like a sore thumb but of course all imo
The directors cant provide any direction.
Sit around all day waiting for a miracle to land on their plates.
LTH - long term holders who can never reason with selling a stock.
What is LTH ?
Forget about Selene. Even if it is bad news the share price will be higher in time. GLALTH
I suspect they may make an announcement after the market has closed, which means it won't be good news.
Likely to give up the licence rather than going private, having said that it might be both 😲
Since having been in and out if this since CLNR when it was around 1p , the company is often late with announcements…and often pulls something out of the hat .
It would be a big gamble buying in today , but the rewards could be very good …and the downside is largely priced in already .
Tempted ….
Email them at IR @delticenergy.com
Id10ts
Fair enough David
Interesting to watch the few buys go through getting cheaper and cheaper as they pass through
Butcher-boy re "Would i be right in thinking if this was taken private a mid price in 30's?"
You would be completely wrong.
Combine AIM + a Retail Investor and you get Pure wishful thinking.
Its like you guys sit around dreaming that all and every move taken will benefit your holdings, in most cases it doesn't.
The best decision Deltic can make right now is pass Pensacola to Shell or Dana for free if they cant get a small percentage for it.
We definitely do not want death spiral financing, and at this stage nobody is interested in farming in.
DELTIC does not have the expertise to handle the project alone! And any attempt at it would like be a fail, just like they failed to do the easier task of selling it to a Major who can handle the project alone.
Add some realism to your projections guys, or you will end up a broke depressed loser.
11.75p we are. I told you so.
spike501 - Good accurate post!
Ekimp Re two of your comments
"It makes no sense for the big shareholders Spencer and Sneller to give up an asset worth multiples of the current share price and that is without Selene."
"I take on board what Spike says but I maintain that MS was happy to commit significant funds when CLNR was an embryo and one could argue the risks were far greater than they are today."
Your view is clear - that because two major investors Spencer and Sneller are invested in DELTIC, it can NEVER go wrong?
Sorry to advise you - They are human and also get things wrong. Your posts reveal your blinded bias.
DrPatience Re
"It was not my buy btw. I am standby to pick up more should we lose Pensacola and we see a big panic drop!!😀"
Like I said to everybody yesterday, the BOD wont get any friction, Because this DELTICS full of naive & stupid investors like DrPatience, Even though hes in Negative hes willing to throw more and more money with good marketing.
Hence the saying - A Fool and his money are soon parted.
Still no update from the f@ckwit bod after they've told the market the license needs to be given back at end of month. Wow. These guys are a f@cking joke.
99......in my experience, even though they have obligations to shareholders, Execs have and do remain part of the Privateer Group. Have seen where an " Independant Exec" is appointed to "Safeguard" shareholder interests. In return the Independant gets a Golden Handshake.
Convertibles would be a good plan to enable valuable assets to be acquired at little cost to the Funders.
We are just little fish surrounded by sharks!!
Fairdealer20 - Valid points but (IMHO) not applicable here. The Exec Directors have 7million (approx) options so its in their interests to seek a high share price, also its Non-Exec duty to do what's best for the shareholders. A "death spiral" convertible is not a good idea in this case.
Spike, correct. Any SP value is normally based on " the latest closing market price" at the time a proposition is put forward.
99.... select funders could be granted conversion stock providing it is within existing financial protocols. Otherwise a resolution is required to obtain the necessary authority. I do'nt see that as a problem bearing mind the funding parties will have that element tied up.
"Would i be right in thinking if this was taken private a mid price in 30's?"
No, I highly doubt it will be taken private but if it is it will be at around today's price, or perhaps lower
Deltic Energy share price has been traded in a range of 31.00, hitting a high of 43.00, and a low of 12.00.
Would i be right in thinking if this was taken private a mid price in 30's?
IMHO - The significance of the end of May is that Deltic must have evidence of £ 15 million funds (or guarantee). So any deal will need to have a loan (or guarantee attached). If the loan comes from key shareholders then the ownership of Deltic would be considered at a later date vs. alternatives (such as selling the assets to Dana Petroleum).
Having been involved in such a situation, a few years ago, Ordinary PI's would be faced with fete' acompli.
an offer will be made based on middle market price + ( portrayed as a generous offer). The Privateers will make sure they have the votes to carry a resolution which is put to an EGM. If Ordinary PI's are allowed ( very unusual) to retain shares in the Private Co, sale of shares will be restricted to pre-determined Buyers ( the New Board members) at pre-described times, usually annually. The Valuation of shares is arbitory, the BOD will decide. In essence when a company goes private, ordinary PI's have very limited rights to trade shares.
I take on board what Spike says but I maintain that MS was happy to commit significant funds when CLNR was an embryo and one could argue the risks were far greater than they are today.
I think they will take the view the market isn’t reflecting the true value of the company and that’s why I think it is possible they will take it private
If delt were taken private, I guess into the hands of the main investors, how bad would that be for us ordinary PIs.