Deltic Energy receives $1m Selene payment from Dana

(Sharecast News) - Deltic Energy said on Wednesday that it had received a $1.0m payment from Dana Petroleum relating to costs incurred under the Selene farm-out agreement.

The AIM-traded natural resources investing company said the payment, equivalent to £738,561.62, related to costs incurred by Deltic and repayable by Dana under the farm-out of a 25% interest in licence P2437.

The licence contains the Selene prospect in the Southern North Sea. The farm-out was first announced in February 2024.

Deltic said the proceeds would be used for ongoing working capital requirements.

At 1056 BST, shares in Deltic Energy were up 2.74% at 6.78p.

Reporting by Josh White for Sharecast.com.

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