Member Info for DrPatience

Caesar, only the first drill is fully funded. See RNS. Deal being finalised for the second as we speak. Cash call not planned, but always possible until the deal is announced.

I expect news within the next 1-2 months max. (giving enough time to negotiate and prepare contracts). Pure guess, I have no inside info. Could be tomorrow!

Falling even with buys...

Someone clearing out their big holding (for whatever reasons) or the usual AIM circus??

Great value though, will consider buying more!

Rbr, thanks interesting. Always good to have such an important topic stirred up for discussion. Unlikely to go anywhere in my view:

1) weak board who came up with the current strategy (including the reportedly woke CEO from Aviva);

2) they appointed their own insider instead of a real oil man from outside as the new CEO.

Are they going to listen to 2 random Italian guys with a couple of pounds worth of shares and a dog in a little City office? Not super likely but I wish them all the best of luck!!

JY, agreed, they may burn their fingers...to be seen!

I'm not a great fan of institutional manipulation and/or short selling! Not good for small guys/gals like us.

Theboyg, I think they are doing the right things: setting the company up for sales and growth. It may take time to demonstrate further they are on the right track. Results going forward will show if this is real or just fluff. The tech is really quite special and should be a winner going forward. Good entry point. Very thin trade though, I think most long term holders do just that: hold!

Mooching, agreed news/ no news!

If you believe news will come + drills will happen, then I think it's ok to say it's a good opp to top up. No-one knows where the intermediate low will be, of course! The MM will make money in all scenarios, simple!!

GGG, time to hold your nerve...although it's entirely possible it will drop further until we have news. Past patterns have been similar. Thin volumes, impatient short term holders, several factors at play. Good chance to top up, although I doubt you can pick up large volumes at these levels!

I will be pretty happy with a 3-4 bagger from here.

I am all in, did my topping up in the low 20s; just waiting for the excitement to start this summer😀

As much as I would live to see them fully listed/domiciled in US, I doubt it. I understand the EPL robbery applies to anybody operating in the North Sea, regardless of domicile.

Shell may then leave the North Sea, but I think Labour will strike a very careful balance (just ignore all the election drivel). A lot of Labour voters are employed in that exact industry.

Thanks FD, yes that's super nasty for sure. Even if done at the going market price, I would still be very unhappy, as a matter of principle. The reality is (I am not saying this in the context of DELT) that small companies can be controlled/driven by large shareholders (in good or bad directions).

I do feel the DELT CEO is straight enough and also has vested, personal interests in pulling this off to serve all shareholders.

But GLA!

I personally think it will break out of the current range, upwards rather than downwards. However, I have been disappointed so many times, so who knows :-)

Good to have dreams!

Maybe some of our resident chartists have a view?

Dai2belts, most companies have resolutions in place, typically agreed at the AGM, to give directors the flexibility to act fast in the interest of the company. So do we, Not sure about He1, I am not following, but I strongly suspect they did exactly that. You would need to check their AGM/meetings. For DELT, I cannot see a fundraise happen as this would require a raise of 50% of the market cap. It has also been said multiple times in presentations and other docs that a fund raise is not planned. The plan is monetisation/farm down. I would prefer a fund raise, but very few here agree with me.

D85, very fair comment and I feel sorry for those who had to hold for so long. Firstly, exploration is a long game. Secondly, there is a very good chance 2024 is going to be a game changer in terms of the sp. We may need to wait one more year to really see the outcomes of the drilss fully reflected in the sp. I am not certainly not selling anything at this level.

RNS 5 December: "The NSTA has ruled against an extension to P2567, and this licence was subsequently relinquished on 30 November 2023. The Company may consider reapplying for this licence in the next UK licensing round and, with the benefit of the extensive technical work carried out over the last couple of years, the Company should be well placed to be re-awarded this licence. "

So very much still of interest, but in fairness, all attention is no doubt on the 2 main prospects to be drilled this year.

FD, fair comment, but we could all buy top up shares at the same price to avoid dilution. I understand why such deals are done, but I always prefer to be invited to participate on a fair basis and with notice.

For the amount needed, it will need a special resolution, for sure. I don't think we will see a fund raise.

GGG, it not part of the "declared" plan. However, from the perspective of value retention, a fundraise is really a pretty good option.

The sp has been depressed for a while, in part due to widespread fear that another fundraise would be coming. I would personally embrace i and buy my fair sharet, but the power of fear should not be underestimated😀

They still have plenty of time; I am sure negotiations are well progressed by now.

Djm, I totally agree, but it will not happen until we have the next monetisation deal in place and 2 x drilling gets underway. End of '24 should really take us beyond that market cap level, fingers crossed.

Getafgrip, this is one if the most profound, wise comments I have ever seen on this board!!

Will wait with patience😀

Thanks, we are on the same page!

Just impatient now despite my name...😀

2024 is going to be a game changer!

Yes! Yawn, yawn, we need news!

Anyway, it will be an eventful year when the drills start this summer. Exploration is a grind, but will pay off for those long!

Dry wells highly unlikely at this stage.

OK thanks. Today, sp back in limbo/waiting for news, it seems. Let's see, the day is not over, but I think we really need the Pensacola funding to be sorted before we see sustained upwards momentum. 2 successful drills will then build on that for the rest of the year.