Member Info for 99icecream

IMHO - A higher share price post May 2024 is a good bet because, Swindells and Nunn each have options on Deltic Energy (3,532,600 Each) at various prices exercise between 26.5p and 75p.

A large rise will only work if shareholders vote for it. IMHO shareholders will not vote for such a rise unless the alternative is administration (e.g. SCE). In this case also there is not sufficient time to organise a shareholder vote.

Even Elon Musk has to do this !

https://edition.cnn.com/2024/04/29/cars/elon-musk-surprise-visit-china-premier-li-intl-hnk/index.html

FWIW - I don't see the China trip as significant in the sense of make or break. Its more about building the relationship, by meeting the senior people in China (at their invitation). One of the last steps before the deal is closed.

IMHO - There is no evidence that Deltic have broken any rules regarding disclosure in the accounts or in the RNS of 30 April. Their error is to try to do two projects at the same time, rather than in sequence (e.g. 6 or more months apart). There are many examples of companies that fall into similar problems as a result of trying to expand far too quickly.

I suspect that Pensacola turned out much better than expected, (just too good to miss) and Shell may have accelerated their development at Pensacola to put Deltic under pressure.

But, we are where we are. IMHO the share price is far too low at the moment.

IMHO - If they hand back Pensacola - it just means they write off anything they have spent on it. It does not impact the Going Concern as this is all about Delta being able to fund its activities going forward.

My view would be that they have informed the market of their problems with farm-out promptly when the last potential partner said that they could not do a deal before the end of May on the terms offered. They did not pick the date as you seem to imply.

Deltic have a duty to inform investors of any material event promptly when it occurs.

The usual situation with accounts is you agree a timetable with the Auditor and schedule a Board Meeting to fit in with the Audit, so the intended signing date would be known in advance.

As far as I am aware they just need to include a note on any (significant) post balance sheet events up to the date they are signed. Deltic have a history of singing them during April. There is no set date the accounts need to be signed, except that they need to be approved by the board of Directors before signing.

23 Nov 2022.... why?

Sorry wrong James Lewis !

11 years old - he got 2 years btw

The real fall was nearer 6% yesterday. The closing price on Friday was recorded as 20p due to a small trade of £200 in the closing auction when the trading price had been 18p bid 18.4p offer.

8 April RNS stated the revised EIA would be "....submitted in the coming days... "

"The Company and its consultants have therefore been preparing a revised EIA to address the concerns previously raised by the CRUI including the improvements arising from the Khemisset Multi-mineral Process ("KMP"), and this document will be submitted in the coming days."

Say 15 April submission - Then we would expect an answer by Mid July 2024.

The problem here is NOT the (current) tax regime as much as the lack of clarity about what will happen under a new government.

The problem here is the (current) tax regime as much as the lack of clarity about what will happen under a new government.

FWIW - I have not had the benefit of any of the broker research that's out there. For my own understanding I have used the numbers of page 13 of the Deltic 25 May 23 presentation. Note that these were before consolidation (so x20 gives the current per share). At 75p/Therm gas price: Selene is valued at 200p/share and Pensacola 120p/share (so Selene 5/8 and Pensacola 3/8 of total).

"This is what SCE did last week" - Clearly very popular with their shareholders !

https://lbndaily.co.uk/surface-transforms-seeks-8-5m-amid-investor-anger/

IMHO - You have to be a bit careful here. The RR Modular reactors would be much larger than most SMR's, and more is known about the costs (being a development of an existing design). Based on the projected costs a 7 unit cluster of RR reactors would be cheaper than 2 units of the EDF design (and the same total power output).

Mr. Dealer - End of May 99 is the deadline according to the recent RNS. In the current circumstances, I suggest a raise would/will need to be done in 24 hours (as in the EML raise). MS and RS obviously know far more about the situation (and finance in general) so a lack of their support would kill off any fund raise.

Dr. - IMHO, many investors would be influenced by the key investors (Michael Spencer / Richard Sneller) so their backing is essential for any fund raise. Additionally, the traditional offer to all shareholders would take too long with the shareholder vote etc.

We do have the possibility that a smaller raise (e.g. £3 million), might be possible to make the difference in a farm-out (e.g. 15% sold but only 25% of costs covered - leaving 5% to fund). If there were a small issue (backed by the large shareholders) small investors could take part using the REX mechanism (like EML recently).

IMHO

It is somewhat unfortunate that Deltic got into this position. Trying to do two farm-outs at the same time (caused by drilling them sequentially) was always going to be tricky.

The good news is that Deltic have completed the best of the two farm-outs (Selene is worth approx twice as much as Pensacola, to Deltic).

In all probability the Pensacola farm-out will be done, just not on the terms we might have expected given more time. (i.e. Deltic might want to sell 15% and be carried on the full 30%).

There is now a "fire sale" and the best offer will be accepted (e.g. Deltic sell 20% and are carried on the full 30%).

The best offer could come from Goliath.