London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Whats happening 28p now
That 28p was someone just having a laugh..
Do you know the first warning sign shouldve been when Malcy started claiming "10 bagger"
truly ugly. not sure why i bother with speccies. turns out i was the rainbow chasing lemming on this one. sorry to those i dragged across on this.
can't put into words how much i hate the political parties in this country. plus side they have got £5m cash in the bank and a high impact fully carried well in a few months to retain value. there's also the outside chance of a f/o, but imagine this will be on rubbish terms unless this is all about pushing an existing party for a deal. or there's an asset sale rather than handing it over to shell. shell is the big winner on this one. incredible delt cannot borrow and raise £12m. reckon pis would give them £2m. it was about finding the extra £10m.
flag has been put up today. full disclosure i dropped 100k yesterday and another 500k this morning at 21p. have been hit for £200k in 1 week with i3e taking a bath in this time as well. what a ****ed week this has been. last time i got smashed by this much was when the uk shutdown for the pandemic.
full disclosure i dropped 100k yesterday (thankfully) and the remaining today at an average of 21p. have been hit for £200k in 1 week with i3e taking a bath in this time as well. what a ****ed week this has been. last time i got smashed by this much was when the uk shutdown for the pandemic. good luck to all remaining holders. too risky for me and should have learnt my lesson on speccies by now.
still can't believe this exploration find can't find a partner thanks to our f@cking id!otic political parties.
GGG sorry to hear that. I still feel Selene is worth more than the current share price, in case they give up Pensacola for nothing. Still feels unreal if they do, real money have been invested and it has proven value. To let it go for nothing will be a huge failure and I suppose it will then be goodbye to the CEO. Even a mediocre deal is better than a zero value outcome.
“I still feel Selene is worth more than the current share price”
If there is success at Selene it may well spike the SP up but then there will again be an extended period of nothing and Delt will be back in the business of trying to farm out more of Selene to try and fund more appraisal and ultimately development in a market where very few are interested - so if Selene does progress it’s unlikely to see production before maybe 2027 and Deltic might be lucky to still own 5% of it (or shareholders are further diluted by future raising)
Really hard to see any investment case now, other than for a spike if there is some Selene success - and that’s a risk as failure likely is the end
One avenue that I haven't mentioned, which would be the best case scenario, is finding some parties with deep pockets to raise £10m. This would mean an extra 66% shares in issue at today's sp. They can probably get an additional £1-2m from the market. And they have just over £5m in cash. So it's possible for them to get this over the line and still have a couple of million spare. Or they could try giving an extra 10% to Shell (for a nominal fee) and raise less money. This would mean £10m is required in total for 20% stake in the field. They would then need to raise £7-8m and use some of the £5m cash they have in the bank.
The big question is whether they have already spoken to parties with deep pockets who have said they'll only stump up £Xm at 20p. If this is the case then mgt need the sp to drop to current levels in order to sell the raise to shareholders i.e. it's this offer or we lose the license. Out of interest, does anyone know who our biggest shareholders happen to be, and how much skin they have in this company?
If this is what happens then it's already been agreed. If I was worth a lot of money I'd see this as a pretty safe bet. The issue isn't the government at the moment, although they are a bunch of h@lfwit c@nts. The issue is getting the cash to appraise a multi-decade discovery to re-rate the sp. It is years away from development but the start-up value is now.
If indeed a raise is announced in the coming weeks then I'll come back for more. They will have 2 guaranteed drills. And will have maintained higher ownership of a potentially huge gas field (although at the cost of significant dilution). If this happens then I feel the sp could re-rate quite quickly to +30p. Only good if they offer the same deal to PIs and you have cash spare though. Will have to wait and see now.
AIM is so murky.
Whether Selene is worth more is academic at this time. The Company could be in the same position as now. The CEO has some questions to answer as it was known weeks ago the Liablities the company faced at the end of May. GS may have been concentrating on a FO deal but should have known given the Political environment a fall back position should have been planned. Maybe there is one in place? The majority shareholders would have been aware of the position some time ago and appear unwilling to back a fund raise. PI's need to consider the possible outcome of these events.
Is it possible JV partners could take a bigger share which enables Delt to retain a lesser interest in Pensacola?
GGG, shareholders listed on the Delt website...
The biggest shareholder worth a look!!
Fairdealer, the majority shareholders may have been unwilling to fund the drill at +30p. However they may have told our CEO they would do it for 20p. Hence the number we're bouncing around now. If this happens then you know the deal was agreed before today's rns. There's no way they could tell the market they cannot get a f/o away and have raised £10m with some multi-millionaires at 20p. They need shareholders to believe it was this or nothing.
The rns is particularly bad, which could be for a reason. We'll find out in the next 4 weeks. Good luck folks.
GGG, I agree, there is a plot somewhere. TBC!
Sorry to see you out (almost or in full), I have enjoyed your contributions!!
I may be back Dr Patience if this is what they;re going to do. Absolutely stunned by today's news. How we managed to get away Selene on such good terms and not a discovery is mind boggling. Best case outcome is they give away 60% of the company to some wealthy shareholders. It would be nuts to let Shell pick up 30% of the field for nothing.
Surely Michael Spencer could pay for this out of pocket change. Not sure what Richard Sneller is worth.
Ok GGG🙏🏻
Spencer, if not already part of a plot, will surely be a very angry man right now. Feels risky if the CEO doesn't have him onboard in some shape or form.
DP exactly my point. Time will tell