Member Info for DrPatience

PL thanks for sharing.

I would normally have looked forward to such an announcement. Today, not really.

If DELT cannot get their sh&t together, then it is 100% pointless to win another licence, as otherwise Selene will be the only project they will ever monetise properly (the current business model will be dead if they cannot sort out Pensacola). Still worth more than the current sp though.

FD20, your views have always been respected and duly noted, although we have not always agreed.

Since I bought my initial stake a couple of years ago and up until 2 days ago, I could only say that everything was going to a reasonable and positive plan. Two drills lined up and subject to funding both, the only way would be up for the sp. Now it is TBC. I sincerely hope you are not right, I hope you don't mind! However, if you are and things starts smell foul, then I will capitulate and join your camp; even Cookoo's!!

I am firmly holding, as my logic is similar EmeraldCarrots'. Selene on its own will be worth more than 40p; if Pernsacola gets a deal, both together will be a lot more than that subject the good drills.

Sounds rude unless they thought the reply was covered in subsequent updates.

I will for one propose a special meeting to kick him and the rest of them out, if no solution is found within the next month. I am sure the large shareholders will feel the same.

Time for the chair and non execs to step up! ONLY if no solution found, so I am holding my 🔥 for now!

I agree, but it's clearly struggling today!! May even fall below £2...as much as I hope not!!

Rot1, I think we are all in the same boat!!!

Did you/anybody else write the CEO or the board by any chance??

I doubt they read what is said here.

In fairness Shell is playing ball! They did f/o deal to drill both Selene and Pensacola. If not sorted, it's a Delt management problem for not having plan B and C lined up for a relatively small amount vs the upside. In reality it will cost Shell very little to take that amount on due to the tax benefits, so I am surprised another f/o deal cannot be reached with Shell. Maybe there is already a bad deal on the table, say we retain x %; and the RNS is there to just soften the blow and cover the CEO's own a$$.

Does anybody know why the RNS was issued on the last day of April? Why not wait until end May?

For an ongoing negotiation, it seems silly to reveal your cards!

There must be a reason? Hopefully a constructive one!!!

NOK, correct. Small investment to retain up to USD200 million one would have thought!!

Jack, I agree, Selene - unless it's dry (pretty unlikely ) - is worth a lot more than the current mcap. TBC early Q4.

If Pensacola not resolved, I guess the CEO is history, so one would assume he is doing his utmost to get a deal done.

A fundraise at this sp or lower is pointless for most investors, unless we are given our chance to buy in fairly...as we otherwise will reduce our fair share of the value in Selene ( give away value cheaply). Then it's better just to let Pensacola go and extract the value from Selene; then implode Delt and put it down to (a not great) experience.

Well and truly rinsed!!! (If you sell in panic).

Just my take.

Shell doing a dirty on Pensacola and being a close knit partner on Selene, at the same time, somehow sounds not right.

You could question why the RNS was issued yesterday? It's not helpful if you are negotiating, basically undermining yourself, so what's the story? I'm still not sure, but nevertheless hopeful a way will be found.

Options:

- (Ill informed) attempt to spoof (takes a lot more, no one will fall for this.

- People buying a handful of shares on platforms with no trading costs.

- MM showing liquidity, setting the tone for the day.

It kind of means nothing in my view.

Already assumed/priced in, in my view...

Ok GGG🙏🏻

Spencer, if not already part of a plot, will surely be a very angry man right now. Feels risky if the CEO doesn't have him onboard in some shape or form.

Did anybody see this mentioned before? Somehow, obviously incorrectly, I assumed they would have more time, given the drill realistically is Q4, right?

GGG, I agree, there is a plot somewhere. TBC!

Sorry to see you out (almost or in full), I have enjoyed your contributions!!

GGG, shareholders listed on the Delt website...

The biggest shareholder worth a look!!

As I understand it, Shell holds the contracts. If Delt doesn't pay-up/show they can pay, then we will effectively hand over 30% of Pensacola for free. That will be the end of it, I believe, but a rather grotesque outcome.

Unless there is a big plot involving the CEO, Shell and the large shareholders, I think the CEO is history unless he comes up with a solution. I cannot see Michael Spencer taking this...

GGG sorry to hear that. I still feel Selene is worth more than the current share price, in case they give up Pensacola for nothing. Still feels unreal if they do, real money have been invested and it has proven value. To let it go for nothing will be a huge failure and I suppose it will then be goodbye to the CEO. Even a mediocre deal is better than a zero value outcome.