Member Info for DrPatience

David85, give it a go, that's all I can say! Let us know how you get on please!

Director buys would typically also be very welcome, but I presume they are precluded from doing it right now.

I don't buy in to the gravy train story, neither will any of the large shareholders. Lord Spencer et al are pretty sharp business people. If Pensacola is lost, as soon as the Dell team has given the support needed to the Selene drill/ postdrill, I believe we will have one or two people left, who will switch the lights off and close the door behind them once Selene has been wrapped up. This would be a rather sad end to the whole thing. I will judge the CEO once we have the full picture. For now, the main issue for the NS is the mixed and ever evolving views of politicians. I blame them. Having said that, Labour's stance is pretty clear; they will leave existing licences alone, adjust the tax slightly upwards and reduce the tax deductibles. That's been known for a while actually. If it was totally nasty, surely Shell would just stop the Selene and Pensacola drills right now. They are not. Also don't forget a lot of Labour voters and Northern communities rely heavily on the NS. Hence, it will be a slow change over time, despite the grand promises to go green.

David85, you are kind of talking to yourself, pretty pointless. If you want to make constructive proposals, I suggest you write to investor relations addressed to the chairman: ir@delticenergy.com

I would suggest you tell them how many shares you have; it matters.

Keep it constructive and factual. Forget telling them they are useless, creaming it, skullduggery, it's not gonna help.

With your views on how this is going to collapse, you really should cut your losses. Surely you have a portfolio of different shares. You win some, you lose some.

If Pensacola is lost, I think most staff will no longer be needed, as we just need to extract what we can from Selene and return funds to shareholders.

That's my point, only ok if offered to ALL holders based on current holding, pro rata. Otherwise, not ok at all!

If you maintain your percentage, dilution is not an issue.

If a raise done now and only involving large investors, then it's better to let Pensacola go. I would vote against the allotment,

I agree CEOAdam. I would take my fair share anytime irrespective of what the price is, be it 40 or 10 p, as long as I am not diluted percentage wise.

Clearly the large shareholders did either not want to or just assumed plain sailing for the farm out and did not engage.

Without the large investors and/or institutions, you can most likely not raise £15 million as most retail investors here would not do it (too many people with short term trading objectives, I think).

David85, lack of volume just means those who "wanted" to be rinsed have been rinsed. 90-95% of investors have decided to wait and see. Those who sold may be right, this is the game: everybody has their subjective view and judgement.

I would say this: if you feel the company is useless, that the NS is collapsing etc, that perfectly fine, but I do hope you have already sold then, as in those circumstances high risk ventures like Delt are not for you. However, we don't need to be saved by your advice in that respect.

It's not black and white, some of us hold for a reason and we know we could lose it all.

I am unhappy with the current situation, but still maintain Selene alone is worth more than the current mcap. Could the drill fail: yes! Could it go well: yes! GCOS is stated to be 70%, which believe is very conservative, so the main challenge will be whether the business plan hangs together afterwards. Could that turn out to be not feasible: yes. Not so likely in my view, so that's where each of us have to make up our own minds.

Rot, I am with you!!

Rot/all: On Shell/c&nt point, as I recall from past drills, we will not pay our share of the drilling costs for Pensacola until some time during this autumn. But presumably the reason for the RNS talking about a deadline at the end of this month is a contractual step, ie we are obliged to prove to the JV (Shell/Onedyas) that we have the funds at hand.

That means Shell quite easily could grant a relaxation to that requirement and buy us more time, potentially until after Selene is well underway. That is if they want see us as a valuable technical partner and don't want to be seen as a c$unt in the market place!!! In reality Shell would lose nothing, as the fallback position is that we hand over Pensacola to Shell if we cannot pay the bills.

I am not a practitioner in this specific area, so would welcome thoughts from others.

Pipersand, I agree, politically nothing has really changed since the Selene deal. It is odd. Maybe they got greedy and the interested parties walked? Or they have some negotiations but they are moving too slowly and the RNS is a warning shot?

David85, I am up to date regarding the Capricorn JV licenses. The point being Delt has the work done. If, and that's a big if as Labour most likely will get in power, they get a chance to reapply, they would be well positioned. I have written it off though.

If you think exploration has a success rate of 100%...then that is an illusion. I would have been happy with "just" Selene and Pensacola. That would have been a very good result.

Don't get me wrong, I am not happy right now, but I try to leave the anger aside and make informed decisions.

David85,

Only been in for a couple of years. I have a science background related to offshore engineering (but not specifically exploration/geology) and done a fair bit of research, including looking at material produced by Deltic for the Geological Society (name may be slightly inaccurate), broker reports, etc. I am not going to go into more detail than that, but the Delt team can pick good sites in my view. I have in particular been happy with how Selene and Pensacola have been tied up with serious partners and money, except for the recent RNS obviously. I am very unhappy with the current Pensacola situation and will wait until we have the outcome before passing comments on the management team's competence.

Funny how no one complained about anything 2 weeks ago!?

The Capricorn exit is not Delt's fault. They (Delt) have effectively inherited $10 million worth of analysis work which could be reused, unless the NS is killed off by the politicians.

My general investment advice to myself and others is a follows: if you don't like and/or trust the CEO&team, just SELL! As simple as that.

I am not trying to ramp, but in my books Selene is worth more than the current mcap, hence if Pensacola is lost and the share price drops to say 10p, then I feel the risk/reward ratio is very good. It's always high risk and your money can also be lost. I don't think anyone here makes buying decisions based on views expressed on this board, but I do enjoy listening to other people, even if I don't always agree. Just deramp if you want, it's actually helpful if it works!!

Right now we are all in limbo and just speculating about the rationale and impact of the recent RNS regarding Pensacola. We have incomplete information and we will probably not know the full story for a while.

Needs to close above 215🙏🏻

50-100p - minus something for the post stress/trauma which no doubt will be there if Pensacola handed over (difficult to quantify).

I had a long standing target of 100-140p for both assets...so my guess is 50p for Selene only...

Ripley, good luck!

I have cash in waiting...but in two minds whether to wait a bit.

If Pensacola is resolved with a decent or semi-decent deal, the current level will probably ever be seen again!

If Pensacola is resolved with a bad deal or handed over to Shell, GGG may well be correct that the price will drop in panic to 10-12p, which clearly would be a massive buying opportunity!

TBC!

David85, I conclude you have sold and will be moving on. Good luck with a different type of investment!

You sound bitter and I guess it is also "advice to self"!

I quite like what Deltic stands for and has achieved. I actually think it is the opposite of useless. It's a high reward/high risk type of investment - agreed. Not for everybody. Clearly, recent sentiments have been severely dented by useless politicians.

GGG, thanks great thought process! And yes, it seems deals or plan B should have been in place at this point, so potentially the CEO has not done his job! TBC, we don't really know if they can get extensions or get a f/o deal over the line.

Pretty meaningless volume trade today; don't read too much into it. Wait for news is my advice.

Gasatapeep, same here, but it's only a loss if you sell !!

If you feel it's game over, then it's better to cut your losses.

I am not there (yet) for sure.

I disagree despite the current funding issues. Delt has identified and developed an excellent portfolio of assets. If we have to give up Pensacola, then that's a serious market issue caused by totally useless politicians not considering national energy security!

To get Shell in as a partner actually means something in the industry.

GGG: surely Selene is worth more than the current market cap on its own? (Assuming a dry well is highly unlikely)

BadA, it doesn't quite work like that. Non execs have a role. However, if they don't sort the current situation out, most of them + CEO will surely be history!!

Admin/HR lady doesn't earn 300k?!, where did that come from?

"Berenberg raises Aviva price target to 572 (550) pence - 'buy' "

Business doing well, interest rates due to fall...so yes, why not?