Member Info for DrPatience

Seen nothing apart from the original rumours. I think the gentle upwards trend is merely driven by an expectation that interest rates indeed have peaked (=>risk free returns on cash will come down) 500p next year, hopefully!

" the walk into the sunset is preplanned with a payoff in back pocket "

Cookoo: I am just so profoundly puzzled why you are holding any shares if this is the inevitable outcome??

FD20, you are quite right. However, I cannot see a fundraise being possible. The funds required for the drills are more than the current market cap, so pretty unrealistic. A deal will be made in my view. It is in everybody's interest incl Shell and One Dyas, as money has been and will continue to be spent (incl orders for long lead items will have been placed).

I am sure numbers will be negotiated to death these days, but that's quite OK.

I will eat my (marcipan) hat if this doesn't happen and I will agree to whatever Cookoo says after that!!!

Having read the RNS several times, I think we can safely assume this was not for little shareholders like us!

The message is part of the ongoing negotiations: 1) we are not running out of cash 2) we have several interested parties.

(As usual) we don't agree, cookoo!

Although your version of events is a possibility, I put it down to highly unlikely.

The CEO will generate life changing wealth for himself by pulling this off; if not, salary etc will stop very soon anyway, as the whole thing will implode.

I agree, not sure what more can be said. Whatever they said will not be a pack of lies unless they knowingly want to breach their fiduciary duties under UK law, which I consider highly doubtful. Nothing to gain for them unless they can things moving. The CEO has skin in the game and also needs to see a successful outcome to really benefit from his efforts. I have always had end 2024 in mind for real value jumps. I just add when I can afford it :-)

Qatar reducing their holding. Their loss in my view, the bank is in a better shape than it has been for quite a while. Low valuation whatever way you look at it. Personally, I'm happy to wait for the strategic update.

PS: slightly surprised NSTA did not extend P2567 though, it's typically a formality. I'm not too bothered, I'm only interested in the 2 drills next year. All the past broker calcs really only assigned value to Selene and Pensacola. It's more of an irritation they didn't extend.

We know most of it, but this is the really the very important bit:

"The Company continues to work on a number of potential options to both realise value and reduce future capital expenditure and has received a considerable level of interest in both Pensacola and Selene from industry. Deltic continues to engage with a number of counterparties in relation to a range of potential transactions on both assets and looks forward to updating the market in due course."

By no means a done deal and may not do anything for the current sp, but it is confirming what many of us have been saying and hoping for, ie that they are busy, have things on the table, with several interested parties and that news are expected in due course. A deal announcement right now would have been even better, but the fact that they are actively negotiating is very good and is cause for optimism. Better to wait a bit longer for the right deal. I'm still hoping for some decent Xmas presents from Delt!!!

Nothing out there, but I strongly suggest they will not do it during COP28. I always thought just before Xmas would be an option as people will be busy with other things and it won't attract too much attention. But who knows?

...seems the MM or someone has stock to spare keeping price down within spread?!

We need news.

Https://kingfisherbulletin.org/notice-map?noticeId=3714&twitterCache=1701335723

"Start date:

02 Dec 2023

End date:

17 Dec 2023

Sector:

Oil and Gas

Category:

Geotechnical

4x boreholes will be drilled by Fugro Quest at the Selene site. Fugro Quest will be drilling for 5-10 days (pending weather) and therefore be connected to the Seafloor. Fugro Quest has limited manoeuvrability whilst on-site

Locations

Selene Geoptech Site

Copy Coordinates

153°46.580'N 001°30.959'E

253°46.562'N 001°30.927'E

353°46.589'N 001°30.914'E

453°46.559'N 001°30.962'E"

No 2, sorry I have probably also been complicit in not being clear when I communicate...

I use monetisation broadly, so could result in cash and/or giving up a share of the asset for drilling services (farm out/down).

I wouldn't expect any payouts to share holders at this stage. The main aim should be to cover the Delt overheads and getting the drillings done in 2024 without a find raise. Subject to good drill results, then the valuation will be up up up in a year's time!!

A fund raise open to all holders would retain more value inhouse, but I cannot see it happening unless they cannot get a deal.

P/FD20: nothing has ever been published yo my knowledge. The 5% share in return for drilling, as FD20 said, most likely.

Both Shell and One Dyas must have a great deal of interest in this continuing at this point - either themselves increasing their stakes or finding other partners they would be happy to work with. So just sitting back and hoping for the best outcome for all of us.

Well, presumably anybody who paid more than say 114 p (current NAV minus eg 5% for wind down expenses) will lose money.

You can get 5% risk free on cash, so the gap is easy to explain. It will also resolve itself during 2024.

A race against time in a way, as those who paid less, will be happy with a quick gain + divs until wind down.

It would be a real shame if this happens, as it will be for all the wrong external reasons and not what the wind down clause was designed for in my view.

Pickedpeck: mainly a VOD problem in my view.

Lots of debt, CEO and strategic plans not inspiring.

Poor customer service as per my own experience on and off over many years.

Having said that, possibly a very good buy at this level. New CEO and/or demonstrated real change/improvement very much needed!

The discount to NAV has been triggered by fear of higher interest rates for longer. Not unique to JLEN. No doubt fears have also spilled over from horror stories from Orsted, BP and others (eg offshore wind).

It will correct itself in my view; JLEN's business model is diversified and robust. I can see why someone buying in recently would love a wind up, as it's an instant 10-20% capital gain. A 6-8% yield will be worth more long term, as interest rates come down next year, so it would be a real shame to wind up.

To be honest and in fairness, I would say he is a bit more than "just" an accountant. Relevant finance experience on top of that for sure. Check his bio. The monetisation exercise should actually be right up his street, so even worse if they can't make it!! And yes, if they can't make it, they may well need change at the top, it may even be game over!

Have patience, it is Christmas soon!

Yes, agreed. However, it could also just be smoke and mirrors; to show they went through a fair, broad search, yet still want to appoint Auchincloss?!

Expensive smoke and mirrors, if so. Egon Z very very expensive, but in fairness one of the best.

Sorry the other way around...