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Hi ismalia mate, you may recognise my moniker and have chatted on various bb's with you in the past, all good and I recognise you as a respected poster. I am heavily invested in RBD and whilst I can't answer on Rubey's behalf, nor should I, my concern is that I also hope that RBD pull out asap.
Not for one second am I going to knock DELT, I am not invested, I know nothing about them and it is not in my character to do such a thing anyway, everyone can either invest or not as is their wish and if I do not like a company and not invested in it I certainly would not talk it down etc etc.
But my concern as a RBD investor is, and it is selfish, is that we have probably the largest onshore discovery in 50 years with possibly several hundred million barrels of oil and similar amounts of hundreds of bcf. It's a company changer if successful and its at appraisal stage not exploration. Add to that on the 176,000 sq m licence area it is believed we have at least another mirror image discovery possibly 2 of the same volume. All the infrastructure is there, gas pipelines, storage and refinery facilities with Operating Companies on site such as Total, Chevron, Petronas, Ineos, Conoco Philips etc. It is a goldmine and for the life of me I cannot for one second see why RBD'S CEO's wanted to trade nearly a quarter of this with no disrespect for approx. £13m cash in DELT plus 2 drills in the N Sea which may not be drilled until the end of next year and possible even shelved indefinitely. WN is a $bn play. Not meaning to put DELT down but we have a lot of appraisal projects in RBD and Parta Romania is expected to be as big as West Newton once 'running room' is factored in for multiple wells.
I actually think as RBD's share price takes off which is happening with the news coming up that the offer for Delt will actually be reduced as our MarCap gets stronger and sp worth more also and possibly an exchange of of just 1 share ratio not 1.5. If a success the news will hit all the mainstream media and the bigger shareholders of DELT may look for a quick return and jump ship in favour for a merger / takeover than wait for a couple of years in reality for Shell / N Sea.
RBD are going to monetise WN asap if proven, with an additional special one off dividend payment likely, and I can see a bidding war of the above mentioned operators, talks have probably already taken place for such a scenario.
I am prepared for an onslaught from DELT posters who do not know me but my post is genuine and honestly believe the move by RBD was not in either Companies interest but Steve and Sachin are ex City Fund Managers with an incredible CV and they would have done a lot of due diligence prior.
All the best mate and I sincerely hope that DELT investors are rewarded via sp moving forward as are RBD absolutely no reason both cannot be successful, fingers crossed :¬)
miker as you say you can't speak for Rubey, pity he/she is unable to answer ismalia's question. He is active on RBD. One suspects he holds NO shares in DELT and these posts are a subtle way of de-ramping.
Had RBD's offer been reasonable ( double the one presented) they would have had a fair chance of success.
To offer basically what DELT holds in cash is insulting, something any wise investor refuse.
Before the RBD offer, the market was putting a below cash value on delt!
I too would rather wait and see what comes out of the ground at WN before RBD raise money, If successful RBD will have a much stronger share price and in a better position to make a better offer to delt, as it it is now, it would be too dilutive for my liking
Sorry I'd not replied earlier Ismalia. Just got back in.
All, I can say is thank you to miker444. Perfectly put, and sums up my opinion precisely.
I have no interest in deramping Deltic fairdealer. The fact is I don't want my shareholding of West Newton diluted at all - even if the offer was halved it wouldn't appeal to me.
But you will know far more about Deltic's prospects than myself. I'm happy with what I've got, unless I'm given a very good reason why it should change.
But good luck, sincerely. We all need it, that's for sure.
Here we go. I have had for a long time a reasonable position in RBD and UJO but only a small interest in Cluff as ot was. Over the years I have held DELT I have expected little and got nothing. I have added more DELT as I saw it as a cheap way into RBD if the deal was or could be done - I realise it could become dead money but I beleive in S&S and feel sure they would only move for the benefit RBD holders . Also I feel they would offer more for DELT. I try not to ramp/deramp as I'm not sure I would be very good at it - If I were I would have made a fortune by now. If RBD can wake the sleeping DELT, get some more cash which they may need, some offshore prospects and Taz Losses it could be good news. I rate S&S as being a lot smarter than me and am quite happy to follow their interest in DELT. In any event we should know a bit more by 12th August. If not invested take a look at UOG and Brian Larkin - I think that could be a ramp. GLA
some deluded posters here
IPGL owned by a billionaire wont sell for loss or breakeven and their average is about 2.5p I recall. they wont approve the RBD deal, they will wait for SHELL to do the drill here or tell GS to buy something else.
Key Shareholders
As at 30th June 2020:
Key Shareholders
Percent
IPGL (Michael Spencer) 16.8%
he will never agree to anything until he is in profit simple as.
If there is so much potential interest, and RBD may have also spotted it, perhaps Spencer should take the 84% out at the current level.
Find it quite amusing how RBD shareholders are making such an issue of Delt and the rejected offer.
If RBD have such good prospects, stick with them and save money here!!!
Perhaps the
Perhaps it is the £12.5m of Tax Losses that may appeal to RBD as no doubt if WN works out it could be financially helpful
3
Delt's rejection is really getting under RBD shareholder's skin!!!
WN is not without it's problems.
Don't be a prick fairdealer. Most RBD shareholders want sweet FA to do with Deltic, at any price. Shell have Deltic by the balls, contracts signed, drill IF Shell ever wish to do so and there's nothing DELT BoD can do about it, apart from take their nice fat salary cheques.
Yes what are delta doing for their 200k salaries?
Nothing much on the face of it!!
Saving a huge % by living rent free in your mind.
now now Rubey seems as though RBD bod listen to it's Shareholders as much as Deltic 's CEO does!!
One wonders what attracts RBD to Deltic, any idea Rubey??
FD
This company is pathetic
They have delivered nothing
No Selene seismic update
No Pensacola seismic update
However an rns to say that IPGL we’re happy with their strategy
A strategy that is failing imo
Mike you should know my views about the way the Company is being managed. Have made my future decision i.e will review whether or not to continue holding in Q1/2 next year. Have long since realised when investing in these small AIM company's Executives do as they wish and yes continue to have the audacity to take salaries each and every month with NO tangible work results being produced.
I find Michael Spencer's support puzzling and can only conclude as he is in deeper than the majority of us, he either knows something or the Excecs are on s a short rope. Cannot see how MS , with his significant investment, is prepared to see it go down the googler.
It's a bit rich to read newbies who clearly have not read up on the company and posters, having opinions which are un researched, possibly their COVID funds are not producing the Bonanza expected....tough.
The Selene results are way overdue
It is almost August!!!!
Read today's RNS.
It tells you the share buy options of the various directors. That is their incentive to deliver.
They haven’t delivered anything but continue to take bonuses and salaries that in my opinion are currently well out of kilter with progress
Where are the Selene seismic results we are the operator on this licence NOT Shell!!!
jlost the earliest trigger point for the options has just passed. The SP had to be 1.75p for 30 days prior to the excercise date for the Execs to claim 1/3 of the option allocation. The next 1/3 option is excersible in July 2021 when the SP has to have incrementally advanced.
So yes on that basis there is incentive, however it seems little is being done to add Shareholder value, in fact quite the opposite. Unlike other Corporate entities who are profit focused and in these uncertain times are restructuring, reducing Executive pay etc, Deltic appear oblivous to what is happening in the Real World and continue to collect unrelated and frankly unearned remunerations.
Shell are in delay mode, OGA have delayed Licence awards, what on Earth are the highly payed Execs doing, how are they filling their time? It is quite puzzling and one does wonder how long MS will support a bunch of latent achievers.
I stated some time ago the BOD needs some radical shake-up, regrettably it will not happen until Major Holders see the light.
Indeed FD what are the Deltic board doing Monday to Friday? The question is perfectly fair and reasonable but from where I am stood they aren’t doing very much apart from preside over a share price in free fall and look after their own skin
It is high time to put the record straight as this situation can’t be allowed to continue otherwise they will empty the pot waiting for something that might never happen
I don’t really like the rbd deal but it might be better than the alternative
Executives taking pay and bonuses and nothing to show for it!!
Mike make no bones about it nothing is going to happen to change the mind-set of how this Company is being managed, until the likes of Michael Spencer calls time.
I am invested in some SME's which with the small number of investors, we are able to hold CEO's to account and in one case get him removed ( good talker but no substance or financial acumen)
The RBD offer, imo, was an insult and only designed to get their hands on our Cash balance.
Hi fairdealer
Just been reading over some of the posts...’ Deltic appear oblivous to what is happening in the Real World and continue to collect unrelated and frankly unearned remunerations. ’ I think this might just summed it up, the BoD seem to be completely detached from the economic realities on their doorstep....you’d have thought that the golf clubs being shuttered and first class lounges being empty would have woken them up....obviously not.