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LONDON, April 30 (Reuters) - Business minister Kwasi Kwarteng has written to the North Sea oil and gas industry asking it to set out a clear plan to reinvest its profits into British energy projects, the government said.
https://www.reuters.com/business/energy/uk-asks-north-sea-oil-gas-sector-set-out-plan-reinvest-profits-2022-04-30/
"accelerate and maximise domestic oil and gas production"
This is awesome news for Deltic. Shell needs to show the UK govt it is investing in the domestic energy and we are very near to multiple drills this year!! Exciting times ahead!!
Yes, awesome, and he said "and importantly accelerate and maximise domestic oil and gas production" - so the gov't thinks it is important.
I can't wait for the market to open tomorrow so I can buy more. At under 3p, these are a bargain.
If that makes me sound like a ramper - I'm not. I am a genuine investor. I followed Algy Cluff from his days in South Africa and so I was in this when it was CLNR. I gave up and sold out a few years ago, but am now back in.
I also hope for big things tomorrow. Get in quick as a good rise a possibility.
Hopefully start climbing back towards 3p this week. The drop has been way over done, just a slight delay to the drill but nothing else has changed. Fully funded jv with Shell plus news on 3D seismic with Capricorn due in May also.
Big month coming up.
Thanks for that Hiblue.
25th Apr 2022 7:00 am RNS Final Results
" ... Capricorn Energy Farm-in to Licences P2560, P2561, P2562, P2567 and P2428
... This transformational and wide-ranging farm-out across multiple licences and our partnership with Capricorn will see significant investment being made across Deltic's strategic Southern North Sea gas exploration portfolio. It has been particularly encouraging to see the pace at which activity on the licences has already occurred.
Acquisition of the 3D seismic survey over Licence P2428 commenced in September. Approximately 680km(2) of new data over the Plymouth Zechstein Reef prospect and surrounding areas was acquired and completed in November. The data collected is now being processed with the results expected during the course of May 2022. The results of this high quality modern 3D seismic survey are expected to significantly enhance our understanding of the multiple gas prospects on P2428 and will be key to de-risking future drilling on this licence as was the case with the Pensacola Prospect which was derisked following the acquisition of new seismic. ..."
https://www.lse.co.uk/rns/DELT/final-results-xd6auk13c5eh6xq.html
You were right Gasatapeep. I didn't get quickly and missed the best price today, but I didn't pay the highest either. The reason why I said " At under 3p, these are a bargain." was because they were well under 3p, but I actually think that with North Sea gas now taking on such importance, these are a bargain at under 5p.
Does anyone know if the forthcoming well is a shallow or deep one and if so how many days for completion of the well itself
Three previous wells on the licence encountered reservoir objectives between 4000ft and 6500ft SS.
All found gas shows - hence the high chance of geological success.
See 2015 CPR for geological review of previous drilling.
https://www.rns-pdf.londonstockexchange.com/rns/7920H_-2015-12-2.pdf
These are looking way too cheap down here. When is the next leg up?
Personally I think it’s only the drill bit that will do the talking here now, and with that been delayed folk have lost interest.