Member Info for DrPatience

Robsroom, bold and good luck. On the other hand, Selene on its own has to be worth more than the current market cap. We may see a big panic sell off if Pensacola is lost and who knows what the floor is. However, it will come back and reflect better what Selene is worth once the drilling starts.

I am hopeful all options are being explored for Pensacola.

I can also not understand why a 15 million fundraise is not being tried. In the worst case it fails. It really doesn't matter at what price it is raised, as post raise, the market cap will shoot up, just like it fell after the infamous RNS. If offered at a discount to all shareholders, those who do not subscribe will lose out, including the large shareholders who may be blackmailing the company into a solution in their favour - who knows? The good thing is that all shareholders will need to approve such a big fundraise, as the pre-approved allotments are not enough to raise 15 million. I would absolutely take my fair share, it would be a no brainer in terms of post raise value.

I cannot go to the Delt meeting next week as I am on hols abroad, but hopefully many will turn up and demand action/updates (except David85 if he is still fantatising about his musical chairs trick!! )

99ice; ha! Touché!!

But thanks!😊

I was wondering if any of our friends up North has access/has read this article. I guess it's just a summary of where we are /nothing new. I prefer not to go through the subscription process to read one article!! Thanks!

https://www.heraldscotland.com/news/24336294.deltic-energy-bids-secure-north-sea-appraisal-well-funds/

FD20, in a sense, the OneDyas deal is similar to a farm out deal (just swapped rights for services instead of cash, fully or partially). So, yes, why not?

Presumably the Delt team is actively exploring all options, but it may also be a (slightly dangerous) game of poker!!

It is possible the large shareholders are playing a similar game of poker, in which they also might end up losing big - just like everybody else - if Pensacola is lost.

Ekimp,

I personally think they are just saying they will pursue all options....f/o, equity and loans. Could be a combination of those or hybrid solutions like convertible loans.

Pure loans are unlikely in my view, as you have nothing providing security like real assets or predictable revenue streams. The only exception would be a loan solution provided by one of the JV partners, but I somehow feel it's not so likely.

I really think it boils down to 3 solutions:

- Full equity raise £15 million (seems no appetite for that as alluded to in the RNS)

- Partial f/o and partial equity raise (may be possible and a good outcome potentially as the fundraise would correct share price after the raise)

- Full f/o (may still be possible, but clearly difficult)

If any of the solutions cannot be found or are attached with unfavourable terms, then I think the licence will be handed over.

I think we will get an RNS soon saying they have obtained an extension from Shell and it's work in progress. Probably several more weeks until we have clarity. I will not be surprised if the share price keeps falling until then. Good old fashioned panic and fear plus some people just trying to average down by selling and buying back later, in the hope of lower sp. Fair enough, everybody makes their own assessment!

Look at his comments on other companies. 100% negative.

I am now wondering if he is a Russian paid troll, being paid to undermine parts of the UK market. With elections coming, he will no doubt be very busy!!!!

Thank God for the filter!!!

David85: nothing useful to say, just repeating the same drivel over and over again.

Deranged, troubled, bitter boy scout investor or just trying be a smart deramper to buy low?! In any case, completely uninspiring with no substance or talent, just reminded me we have a filter!!

Is this falling due to perceived competition from Labour's Great British Energy outfit. Seems strange, JLEN has good forward coverage, long term contracts.

Once interest rates come down, 7-10% yield is very attractive!!!

I totally agree SuperRoty! Did you write to the company?

If you discount you give all holders a strong incentive to take their allocation and those shares not taken, will be snapped up by other. Just imagine what the company is worth post that fundraise!!!

David85, you are clearly a deranged, very troubled person.

David85, you are even making waves over at ADVFN, but not in s good way:

"barnes4: Some goon called david85 on the lse thread is trying really hard to encourage people to sell

hmmmmmmm why????????

Price has collapsed but interesting to note their has so far been relatively low selling pressure"

Indeed, why?! I don't see a lot of interest in your attempts to deramp, defame or whatever you are up to.

Pl, interesting...bit different ballgame and only heads of terms stage though.

However, yes, Delt must get their act together!!

David85: what are you actually up to??

Surely you don't hold any shares if you are so sure it will drop to 6p and surely you will not buy back in any case given the incompetent management and licences with no value.

I think you have no clue how things work and how each exploration step builds value (or not if it doesn't live up to expectations). Or maybe you do and that's exactly why you want the price lower!?

So a fraud or a bitter man who lost a couple Pounds?!?

David85: trying to save us from doing investment mistakes? (unwanted) OR

just a deramper looking for a bargain?

Makes you wonder. I don't see a lot of ramping going on. Everybody is p&ssed off and just hoping for the best. If we lose Pensacola, we only have Selene (for sure) and maybe Syros. If you assess those, it is obvious they could still be worth a lot more than the current mcap, no guarantees obviously. Even if you look at the broker notes and use more aggressive discount factors, you still get a share price potential way above the current one. It's subjective of course.

Yes, I agree, but with low volumes anything can happen...up or down. Fear is a nasty thing; stronger than any rational assessment we can make on the value of Selene. I would love to add at 10p, if ever, but suspect one can only pick up limited volumes.

M125: RNS 30 April is what happened. In the worst case we have Selene and Syros...worth more than current mcap in my view, but some people clearly still happy to part with shares at this price. A reverse mini lemming situation going on!!

Https://www.ineos.com/businesses/ineos-energy/oil-and-gas/european-operations/

Sir Radcliff will surely not agree with Labour's stance on the NS! He probably already talked to Starmer. Just my guess.

We are the Champions or Eye of the Tiger, obviously!!

David, I have to say your contributions here are pretty sad and bitter. Don't play on AIM if you take it like that, it's not good for your health! You can have a 99 on the house to cheer you up😀

GGG, your comment re small developments and infrastructure tie in seems to echo what's in the Delt update. Makes perfect sense, but on the other hand, Shell is aware of the situation and clearly pressing ahead with Pensacola; I guess with or without us!!!

For those who wants to make suggestions for deals to be made or action to be taken by the board and/or CEO, it's better you write to them as I very much doubt they read the comments here:

Mark Lappin, chairman: mark@delticenergy.com (or could be m.lappin@delticenergy.com)

Graham Swindells, CEO: graham@delticenergy.com (or could be g.swindells@delticenergy.com)

Or investor relations (published on website, so correct for sure): ir@delticenergy.com

Thanks 99ice...useful!

I am pretty sure it is linked to a formal contract/project gate sign off. What I am not sure about is the payment schedule. I do't recall that being disclosed anywhere, but I am pretty sure Shell invoiced Delt quite late in the process for the last drill. I will almost bet this is a contractual issue rather than an immediate cash flow issue.

Does anybody recall the same?