Member Info for DrPatience

I'm equally puzzled. More exposed to US/ US spillover?

The fact that the US economy is seen as robust (more than expected), should be a good thing, but markets have been shaken by the "higher (interest) for longer" statements by the Fed.

Mooching, yes he neatly slipped that in. I think the current political situation is now clear. I say current, as politicians have the habit of changing direction...I feel it's relatively clear and stable for now though as they get ready for the next general election:

Tories: will allow existing/licenced oil&gas exploration to continue; will issue new licences.

Labour: will allow existing/licenced oil&gas exploration to continue; will NOT issue new licences (note: will not revoke existing).

Either way, Delt already has enough to work with. I don't think the sp will move with any conviction until we have proper news on farm out/monetisation. Sunak's speech not really adding anything new for us and given Labour's lead, Labour was more of a threat and they have already clarified where they stand.

Anyway, just my take.

Getafgrip: Great advice! Love it!

Https://news.sky.com/story/climate-change-home-secretary-suella-braverman-says-were-not-going-to-save-the-planet-by-bankrupting-people-12965383

No talk about the 33rd round yet, but super easy for them to defend once announced (carbon footprint better than imports, national energy security etc) underpinned by the delayed phasing out of home gas boilers.

From Interactive Investor:

"UK Prime Minister Rishi Sunak is reportedly mulling over watering down some of the government's net zero pledges, drawing sharp criticism from across the political spectrum and environmental groups. The BBC reported that the prime minister could use a speech in the coming days to announce a major shift in the Tory Party's approach to green policy. While he is not expected to ditch the legal commitment to reach net zero carbon emissions by 2050, Sunak could say that the UK has overperformed on tackling climate change and that other nations need to step up their action, according to the broadcaster. The BBC says it has seen documents suggesting there could be changes to as many as seven core policies or commitments."

Sits well with his previous announcements on the 33rd round. This is all carefully choreographed in my view. Licences will be awarded. I don't think it will do anything to the share price though. Nice to have under our belt for the future, but for now we need real, immediate news on farm out / monetisation for the share price to recover. Until then, a muddle!

Hitman...food for thought!

In addition, interest rates will eventually come down. 7-8% div rates are not so impressive when you can get 5% on cash. Between them, I can also see this going to £5. Slow process, could take a year or two! Still good returns if that's how it goes!

Bbb, I'm not in ORCA, but looks like a close call with no cash left in the bank. High risk stuff, but good for those in there, if they can pull it off. I feel Delt is in a better spot overall and deals can be made, so that's a positive for North Sea exploration and hopefully Delt.

Yes, it's fascinating that the green box man basically is talking to himself. I guess he is hoping for the odd chance someone new will join. Someone new to go after and "impress" with his distorted conspiracy ideas from his HQ (the shed). Genuinely unappreciated and unloved for sure and it is eating him up, slowly. Living Fight Club.

Just shows you how things can move fast up or down on good or bad news!!

"Orcadian Energy PLC, up 66% at 5.80 pence, 12-month range 2.00p-35.30p. The North Sea-focused oil and gas development company enters a non-binding heads of agreement with an unnamed North Sea operator, including a potential farm-out of its Pilot development project. Says the potential deal would enable the two parties to progress development at Pilot field, which it says is one of the largest undeveloped discoveries in the central North Sea, with "significant upside potential" in the surrounding area. The operator will take an 81.25% interest in the P2244 license, and become operator of the development. The two will work together on delivering the field development plan to the North Sea Transition Authority, which is expected to increase the site's field reserves. Orcadian will retain an 18.75% interest in the license. The two have requested an extension of the second term of the license from NSTA. Once the potential transaction is completed, the operator would pay Orcadian USD200,000 in cash, with a further USD3.0 million due once approval for the Pilot FDP is received. "As previously noted, working capital remains very constrained. Cash at today's date is circa GBP90,000, with a current monthly burn rate of less than GBP20,000," it notes."

LtdAxis, in reality it can drift down or up to whatever value, until we have news (good or bad). I'm drip adding, not trying to say the low is x or y; I don't think anybody can. I feel it is good risk/reward value though. Personal, subjective view. Whether you add at 25 or 15p, the upside is many times more...IF we have some decent tangible news. It may only come when we have the next drills in 2024, but I am hopeful we have some farm out or monetisation news before that. The award of licences will come in my view, but not really sure if that will do the share price any good (bread tomorrow thing).

The AA consultation (as part of the 33rd round) only closed last Friday. Then it could take weeks or even months before we hear something. I am also pretty sure the politicians are looking carefully at when to announce (ideally when something else is in the headlines!!). Gas has become a dirty word, but I am confident they still want to proceed.

Thanks for your perspective bbb!

Interesting you also have a resident village idiot on HBR!

I can now see they peddle the same stories around politicians, renewables, Klaus Schwab's big plan etc etc. and making references to well known fake news and conspiracy websites. In reality they been radicalised - it's very sad and potentially dangerous, as we have mentally ill lone wolfs in the making.

The real issue is that NS's strategy seems to be to destroy/drown any normal debate by flooding with his repetitive posts. He will reply to anything even to people who publicly put him on filter. The aim is self promotion, manipulation and always be right& and have the last word.

Most bizarre, but there you go.

No 2, sorry it had to end like this...all the best!

NS is a total prat, he must be seriously ill and will end up talking to himself. In fact, I have never come across someone like him before, he is really quite unique...in the worst way possible. Even on filter, he is an irritation.

I guess he is a loner, sitting in a shed. Could end up doing really weird things. Just think about it.

It is not good for LSE that they allow someone so disruptive to be active and quite blatantly spread links to well known conspiracy and alt-right websites.

I suspect I will end up going the same way as you, it's no longer enjoyable and why generate ad money to LSE, when they clearly don't deal with idiots like NS.

I have enjoyed interacting with a handful of people here though, so it's a real shame.

Sorry planit, bad choice of word from my side.

In a nutshell, I think it would need to be seen as a US share only, possibly also a US company.

I am only speculating, trying to make sense of it all.

It could also be as simple as: many investors, including the US based ones, do not subscribe to the idea of an oil&gas company branching into renewables (lower returns; actual or perceived).

I'm interested in other views!

Meoryou, fair point and question!

The way it is set up, the US listing is a side show; just compare the daily volumes. It may require a main/single listing in US. May or may not be enough...may also require the HQ to be there and maybe name change...

Anyway, the value gap vs peers is just astonishing.

Eviking, mind you, marmite looks just like the bottom stuff in a crude oil tanker; surely one - as a Glen share holder - can only love that!! Lol

"Following the closing date for 33rd Seaward Licensing Round applications, those Blocks identified as requiring further assessment (AA) were reconsidered against the list of actual applications. It was concluded that further assessment (AA) was required for 96 of the Blocks applied for. Due to the wide distribution of these Blocks in the UK Continental Shelf, the AAs are contained in three regional reports:"

"Consultation on the Appropriate Assessments (AA) of Blocks applied for in the 33rd Seaward Licensing Round

This consultation ran from 10:30am on 31 July 2023 to 5pm on 15 September 2023"

So we just need to wait for this to be finalised and then licences can be issued. Hopefully.

Just to remind everybody, this was not a consultation on the whether to drill or not per se, but concerning impact on nature/wildlife.

"An Appropriate Assessment (AA) is an assessment of the potential adverse effects of a plan or project (in combination with other plans or projects) on Special Areas of Conservation and Special Protection Areas. "

Happyinvestor, all fair points.

Makes you wonder? Why don't they move the listing to US?? Fossil fuel has a bad name in Europe now; in US, business is business (for now at least)

The same for Barclays and others. Low cost, instant win. No need to pay fancy consultants millions to improve their business!

Eviking,

I agree coal is outdated...but there is still a need and it will not go away short term. If a combined, bigger coal unit is spun off; everybody can decide if they want to own or not going forward. I would personally sell my shares in coal newco, hopefully after being "upvalued". The metals side is why I bought Glen in the first place. The rise of coal prices in recent times has just been an unexpected bonus; just look at Glen's level of debt!

Wise words worth repeating: "...do us all a favour, and take your anti vax, conspiracy theory, antagonistic and vile thoughts elsewhere, as we do not want to hear it anymore"

Just go quietly.

LSE Admin - The following independent contributors want the account "NoelShempsky" removed from the Deltic chat as he is simply vexatiously disruptive & contributes nothing constructive:

FairDealer20

Banburyboy

Longitude

Getafgrip

Dr Patience

Purdey1

SouthEast18

No. 2

Eviking, thanks for sharing! To me that sounds like a brilliant outcome. Buy Teck's coal; combine with existing and spin out. List in US; better multiple instantly. The rest, metals, will the be trading in London also on a better multiple vs now, as a lot of institutions will pile back in due to better ESG credentials.

Big win for shareholders, I think, if this comes to fruition!!