Member Info for DrPatience

Hi SW, many thanks sharing, always interesting to hear what people say,

I am not familiar with the source.

I suspect we will soon see lots of coverage and as GGG said, the "AIM lemmings" will pile (and for a good reason)

SW, I think you are looking at this the wrong way.

This is not musical chairs. This is oil&gas exploration. It's in the category of "you can lose your investment in full". Delt is probably beyond that, but nevertheless still considered a high risk/high reward investment. As oil&gas exploration move forward you normally de-risk, prove assets etc., hence it objectively becomes more valuable (or fail), so it's not a matter of gaining from each other. Some people get the timing wrong, but that's part of being an investor. Over time it will attract different types of investors, probably not quite institutional investors but probably increasingly specialist funds, but also smaller investors who are willing to get in at a higher, but lower risk level. At some point Delt will start returning capital or do a sale of the company/the assets.

Volumes are low for sure. I know lots of people just holding, waiting for the upside or if it fails (increasingly unlikely), so be it.

News on the next farm out deal and drilling results will build this up again.

FD, I do agree with this point!! In short, no it didn't look well thought out, but perhaps they hoped for a farm down deal (I can't remember). In any case, you are absolutely right!

If a company reduces dividend so it can buy another company with a plan to do something sensible with the acquisition...it would be very one sided to just look at the cut in dividend.

Smells of better value overall, to me at least!

Nothing wrong with selling now and hoping for a retrace. It's rarely a straight line up.

FD, let's just agree to disagree...as we have done the past, right?

Just to re-state my view for balance of views:

Although I always get hugely irritated - as a matter of principle- if not invited to subscribe on a fair basis (ie pro rata as per shares held), it is also quite normal for a CEO to want/need to move with speed and certainty. Many small investors - and not the likes of you, others on this site and I - will not take up the offer promptly or not at all.

It only becomes unfair if the shares are offered with a preferred much lower price than the going rate.

To a great extent it comes down to trust in the CEO.

GGG, the last fund raise, the accelerated bookbuild in Sept 2022, was carried out at the market price 3.5p, ie 70p in current share count. The money was invested in drilling, so although more shares/dilution took place, also the inherent company value went up with at least that amount (in my books...). Therefore actually still reasonable to compare with sp before that.

Those who bought in recently times got a great deal vs the large investors back in Sept 2022!!

The consolidation 20->1 was done without dilution. The CEO will get options ongoing, so some dilution there, potentially. Anyway, that's normal, as you know.

Caesar, yes...and in fact we are in a much stronger position now!

The nervousness around the perceived risk of a fund raise has prevailed and in fairness volumes are still pretty modest.

I know a network of investors also holding/adding (not on this platform) and they are just sitting tight because the current sp is a joke. One might say it reflects the risks, but the upside is so significant that it has to be the opportunity of the year for many of us. 🎄🎅🏻

FD20, apologies!

Although I would also much prefer a fair participation in any fund raises, I still don't think the last couple raises have been unfair (and by unfair I mean not done at the going price). Perhaps that's a point of disagreement. I cannot comment on the time before my time here under the previous CEO, which may well have been questionable (as per other posters here)

I don't think the approved Resolutions/Special Resolutions will allow for this big a fund raise anyway. I doubt it will happen. GGG's point about a loan is a very good one.

Anyway, apologies if I missed your position; for sure we are a minority! Most are dead scared of a fund raise.

So capital letters put in lower case and the word consisting of the male of a chicken + y censored!!

The positive version of smug is what I am looking for!!

in short, i cannot see an offer being entertained at this level!!

most of the big investors have ploughed money in at a much higher price and will no doubt want a multiple on their investment. same for the options held by the ceo. maybe after the 2 drills when the sp is £1-1.5, not now for sure.

i think you will soon see a stream of news from an increasingly confident ceo!! hopefully almost ****y😀

GGG: I also prefer a fundraise, as that's the way to retain maximum value. I discussed the same here months ago, but I think you and I are pretty much the only ones with this view!!

Djm, some people may question what the relevance of this article is? In short: big boy geopolitics and China's Belt&Road in action!!

So much more good reason to consider Delt is in our national interest. Natural gas is the backbone of heating in UK (rightly or wrongly) and not changing any time soon, although eventually it will. Labour and the Tories really should wake up and treat us with a bit more care. Surely national interests must come first?!

If so, good window for Pensacola and Selene to shine!!

DJM, I am interested in the source?! Ta

Djm: hopefully even a Labour government would take notice of Shell, who in reality can leave UK and have a perfectly good business everywhere else in the world.

GGG: yes...also let's not forget we are only at 1.85 p/share in the old share count. Shockingly low considering we are probably in a better position than ever before!

Djm, is this a chartist's view or? pls explain to dummies like me...I only trade on business fundamentals, macro etc.

47,950 shares to be precise😀

Added 45k shares this AM (3 trades)

All GGG's fault😀

Good luck people!🙏🏻

Why is falling???

I see nothing to support a fall. Indeed, as interest rates start to come down, this yield is hugely attractive!!

Even if wound up due to the NAV discount issue, it's a winner!!

GGG, well set up, indeed! Good luck!

I have similar views, although I might leave everything in to the 3-5X level, fingers crossed. Good odds overall and may be the best opportunity of 2024.

Subsea, yes who knows. In recent days lots of round number buys...just wondering. Could be GGG adding, of course!