Member Info for Chambery

https://www.lse.co.uk/news/key-investor-madison-ave-says-capricorn-worth-more-than-planned-tullow-deal-oe596n9jm0jda77.html
Must be over 25% saying no ! Capricorn needs to to act !

Well if Shell take the whole cost of the drill they can offset 91% the cost against their tax bill this was raised from 46% by Rishi so reducing the net cost and apportioned share. Accounting in the oil and gas industry is complex. GS seems to think it applies all depends on the contract with Shell.

Interesting post Smj321. Does that mean Deltic's cost for say a Pensacola £20m drill cost of which Deltics £6m (30%) share whould be reduced by 90% ish to £1.8m ? If thats the case they are funded for Selene and possibly Capricorn drills.
Looking very good if that the case.

Seems to be a lot of uncrossing trades UT on here considering the piffling volume of trade. Is this an indication of no stock available?

Interview
hTTps://www.proactiveinvestors.co.uk/companies/news/986419/rig-contract-confirmation-a-key-milestone-for-deltic-energy-986419.html

(thanks Badger60 Advfn)

Maersk Resilient rig ? Seems to fit the bill .. any other suggestions.

C.E of Capricorn seems keen.
“The Deltic thing is a really interesting opportunity,” he told reporters. “It’s gas; it’s a new play type. If it works you could tie it back quickly to existing infrastructure and be part of what everybody’s trying to achieve in terms of that balance between energy security, energy affordability and energy transition.”

https://www.heraldscotland.com/business_hq/20131674.edinburgh-based-capricorn-eyes-north-sea-gas-opportunities/

I see there is no news of the Shell rig yet, cannot decide on the right bit to screw on.

Yes fairdealer20 more correct information needs to be disseminated on a regular basis by Deltic good or bad. Leaving it to one RNS every 6months is just inept by the board who are paid well. If the drill is delayed for some unkown reason the shareholders need to be told early. If Deltic have no control over or insight insight into what Shell are doing then they are a poor board.

Shell and Deltic have known since the end of 2021 that the Jaws, Edinburgh and Orlov drills are to be completed all probabably by the Valaris 122. Orlov still to be done.
https://expronews.com/wells/nelson-in-the-spotlight/
No delays, just no info on the rig that Shell have apparently assigned. The RNS by Deltic is just not good enough considering the mis-information that they have published.
There is no reason not to declare the intended Rig name, if Shell even has one yet. Deltic should have tied this down at the time they negotiated the contract.

RNS Number : 8727P
Deltic Energy PLC
22 October 2021

STATED

"The Pensacola exploration well remains scheduled to be spudded in Q2 2022. Shell has also confirmed that a rig is available to drill Pensacola. "

I think this is purposely misleading !

and we have waited 5 mths for this non update. Its a wonder the large holders are not looking for a board shakeup. The contract negotiation skill set is lacking.

Feb status

https://s23.q4cdn.com/956522167/files/doc_downloads/fleet-status-report/2022/02.21.2022-Fleet-Status-Report_FINAL.pdf

From the Fleet status report Feb The Valaris 122 has been contracted until Sep 22 .
The Edinburgh field on the 30/14a-Edinburgh well was spud ion March 15th so it depends how long it takes to drill completion.
https://s23.q4cdn.com/956522167/files/doc_downloads/fleet-status-report/2021/10.27.2021-Valaris-Fleet-Status-Report.pdf
https://www.energyvoice.com/oilandgas/north-sea/396959/shell-spuds-much-anticipated-edinburgh-well/

So they might meet Q2, if it is the Valaris 122.

The Valaris 122 will be drilling at a standalone location in the Edinburgh field on a single well campaign. The total duration of drilling and completion activities is expected to last approximately 160 days, with the end date set for August 31, 2022.
https://www.rigzone.com/news/no_bite_at_shell_jaws_north_sea_oil_well-09-mar-2022-168194-article/
Seems a bit late in the day for Valaris 122 .
Exploration have you info otherwise, No idea why Delt/Shell is keeping the rig name top secret!

https://www.offshore-technology.com/news/oga-rebrands-to-reflect-new-green-push/
"The regulator has also confirmed it will be holding a new North Sea licensing round this year to further support the UK Government’s bid to boost domestic supply, and has said it will be supporting investors to “press ahead” with clean technologies such as carbon capture and storage, platform electrification, and hydrogen. "

https://www.energyvoice.com/oilandgas/north-sea/exploration-production/395744/maersk-drilling-lands-uk-north-sea-gig-worth-16-9m/

Just received my 2022 April yearly projected gas bill SSE variable tariff, up 74%! That’s just the start.
The commercial reasons for drilling here get better day by day. Just need an update Deltic.

https://uk.finance.yahoo.com/news/gazprom-not-sell-gas-electronic-125330033.html
"The West has accused Russia of withholding gas to drive up prices ......"

https://www.lse.co.uk/news/ineos-to-switch-grangemouth-to-hydrogen-in-14-bln-pursuit-of-net-zero-rciub64ehsf2uch.html

Blue Hydrogen all the way and Natural Gas is needed.

No problem Exploration, after your posts just needed to remind myself, as a LTH, of where we started from
and the works that has been done since by Deltic and Shell. So I think a little enthusiasm is called for. More 3D
done by Fugro and other survey work all over this area by the Vega Oceanic by unknown interests.
As you say drilling is a risk but Shell seems to want to take it.