Member Info for DrPatience

No. 2, thanks for sharing, I were an oil&gas exec I would say the same thing and have a real issue with the general uncertainty created by windfall taxes. I feel it's more the latter than the money.

1) you can offset through investments (explained well in one of the Deltic presentations)

2) any sensible business will have used and will still be using much more conservative values for net income per barrel equivalent than can be achieved in the current market. The Deltic business cases and the broker valuations are using something more in line with long term averages, so I am not overly concerned.

It's of course irritating to give away money, even if you still make more money than you would otherwise have made during more normal market conditions.

The fact that changing politicians can just impose windfall taxes on various industries on a whim (be it oil&gas, banks or whatever), just because they are making good money...is of course hugely frustrating for all shareholders. Why not on companies who benefitted from covid? Why not on companies benefitting from making weapons etc etc.? Politics!

Gasatapeep, the low price is - in my view - driven by various factors working together, including:

- low volumes, showing that most holders want to hold, but it means the small pool traded can trade weirdly (up or down)

- political policy; fears of both the Tories and Labour (despite both having clarified their policies)

- fears of windfall taxes (even though it has been shown to also have upsides for those who can use the investment allowances like Shell)

- general resistance to fossil fuel (albeit mainly driven by a small minority like just stop oil)

- a general lack of understanding of what Delt is doing (it is quite specialised) and appreciation that this is not a get rich quick scheme unless you are lucky and get the timing right - the next year or so could potentially be that, but also easy to miss the boat, as it could move quickly on real news.

- fear of fundraise; Delt may need cash, if they don't monetise. I don't fear this, it's just an investment and will allow us to retain more value ultimately.

For me the low price is just an opportunity; with news about monetisation coming at some point, fingers crossed, news about more licences (delayed 33rd round) and 2 massively important appraisal drills during 2024 being the events that will shift this upwards. Max a year to wait, I believe.

Purdey, the one done before was exploration only; it's a step by step process where you continually evaluate and derisk the asset. It takes years and years to get to actual production. Everything is looking good so far, but there are always risks along the way. That's more than sufficiently reflected in the very depressed sp.

No.2, a lot of work needs to be done before the drill mid next year. The Results Presentation April 2023 (on the Delt website) has a high level Gantt chart on page 7; showing the main steps. I feel they are on track, possibly slightly ahead, but does not mean the drill will be moved forward.

What's so important about the RNS on the seismic survey is this: it reconfirms that Shell is on the case /not going anywhere, that things are on track. This is really important, as it throws out the notion - being spread by many - that Shell is abandoning the North Sea. Well, that's clearly not the case and that's good for us investors. Very good indeed.

Thanks grip. I would have thought they have bigger fish to fry than little Delt, though! It can also be smaller players or individuals hoping to shift the price up or down, I guess. Cheers!

Thanks Grip...I can see the idea, but by who and why? Surely for such a thinly traded stock people can see the facts for themselves without getting tricked?! Just seems odd and I have noticed a similar patterns other days.

Market manipulation is technically illegal, but...just wondering what the motivation would for someone doing this.

So someone sold/bought 1 share this morning...

Would that be the market maker just displaying liquidity and setting the tone for the day?

Just wondering and if not, just a bit puzzled as to why anybody would sell 1 share?! Even with free trading, it makes little sense.

It may be a dumb question, but I am not normally trading AIM/small cap directly.

Thanks!

Thanks SE18...I now have the same from one other industry contact I have. These ex-Capricorn licences are now effectively free options, as they are not at all reflected in the share price. That may well for some people seem fair given the political context. It's a personal judgment not exact science, of course.

Latest RNS regarding Capricorn mentioned Delt intend to take control of two of the five JV licences [P2567 (Cadence) and P2428 (Cupertino)].

The RNS said: "...once Deltic has been re-appointed as Administrator of these licences, Deltic intends to request an extension of the current licence terms from the North Sea Transition Authority ("NSTA"). "

I note NSTA allows extensions [from https://www.nstauthority.co.uk/licensing-consents/types-of-licence/ :"If a licence is granted, it will be valid for a period of three years and is renewable for a further period of three years.") and I have heard from an industry insider that these are normally not denied, especially if an exploration plan is in place. So hopefully the extension will be a formality.

Any views or insights will be much appreciated!

Rylidan, in my opinion this is rock solid, but when you get 5% interest for cash risk free, then I am not surprised it has pulled back a bit. It really should be trading around £6, it will eventually!!

Fellow investors, apologies, I provoked Noel on purpose. It was overwhelmingly tempting, but a mistake, as it triggered yet more messages (for me it is just green boxes, but I appreciate he probably wrote lengthy rebuttals and personal attacks)

I will follow No 2's wise words and not engage with Noel for a wee bit! I guess if he is on filter and not engaged with, it will eventually stop, so we can get back to some sort of normality.

Hotticket, I agree that's the most likely outcome.

I guess Noel has been trying to convince everybody the opposite with his 20 odd posts today.

Russia clearly would be pleased if we do not develop our own fields...I am starting to wonder who Noel works for?!

Hotticket, we are generally on the same page...

Ref 1, that's correct, we have a burn rate to consider, but hopefully we see one or more monetisation events later this year.

Ref 2, the windfall tax is mainly political smoke and mirrors when it comes to its effect on a highly profitable company like Shell. Just check out slide 14 in the April '23 presentation to share holders. The super deduction is rather generous if you offset against profit and overall more beneficial than before.

Ref 3, I am also in negative territory as I have adding over several years; however, only a loss, if I sell now :-)

SE18, not directly Delt relevant, but possibly relevant to explain the behaviours of a very small group of people "contributing" on this board and explains why the only way out of their grip is to use the filter:

"“Conspiracy theorists are not all likely to be simple-minded, mentally unwell folks—a portrait which is routinely painted in popular culture,” said Bowes. “Instead, many turn to conspiracy theories to fulfill deprived motivational needs and make sense of distress and impairment.”"

"Those who strongly believed in conspiracy theories were also more likely to be insecure, paranoid, emotionally volatile, impulsive, suspicious, withdrawn, manipulative, egocentric and eccentric."

https://www.apa.org/news/press/releases/2023/06/why-people-believe-conspiracy-theories

Just trying to make sense of why some people behave in certain ways because it's something I am struggling to comprehend. All the conspiracy theories have been fact checked by numerous serious journalists, scientists etc and thrown out based on being manipulative and baseless. Not trusting politicians is sensible based on their track record, but that doesn't mean it is a big conspiracy!

Anyway, I am hoping the serious investors can have a sensible debate about where Delt might be going.

Trek, good luck, the sp seems stuck though with hardly any trades...I guess only news will really shift things (up or down...)

Does anybody know when next trading update is due?

Hotticket, it's a fair point. Indeed all the broker ratings (worth studying by the way) are predominantly based on value from Selene and Pensacola.

I think the Delt team and the anchor shareholders want a bigger pipeline, which I kind of also can subscribe to (it will be a longer game though and need money)

Well, Delt obviously bid for licences and they will probably get some unless Noel's predictions come through!! I think it will happen. Any serious issues arising from the public consultation will only affect specific fields, if any, in my view. This is a game to follow also for landbased projects, where seemingly unimportant wildlife issues, for example, can delay, require special considerations or even stop permissions. Greenpeace, Just Stop Oil etc will probably do blanket objections, but that can be overridden if there is enough political motivation. In my view! TBC in due course.

No Noel, it will not help forecasting the sp, but if someone is lined to make a bid, that is relevant information for shareholders and perfectly relevant to debate on this site. I don't think Parkmead is a credible bidder having looked at it.

I don't think Lord Spencer et al will sell out at less than the current broker valuations, so I'm just sitting tight and don't need to take part in this thread, but some people have things of interest to say.

I'm pretty sure I speak for a lot of other people, I wish you would stop peddling all you conspiracy and fake news, that also doesn't help anybody here. Taking onboard your own advice, why don't you induce radiosilence on yourself until we have the next rns? Send money to the welder writing crap in his garage (the expose), talk QAnon, Klaus Schwab, etc elsewhere, I really see no one interested here. Unless you have something interesting and relevant to say, of course, then post please!

No need to answer, you are back in filter. Gave you a chance, but it's a lost cause.

SotB, thanks and a very interesting angle, which is worth keeping an eye on.

As No 2, I have not fully looked into this, but at a glance I also feel it looks like tax offsets/allowances, which would reduce tax bills going forward. They could probably raise cash agsinst it though?!

SotB, agree re licence announcements.

Parkmead? I thought they had no money? Please elaborate, I'm interested in anybody who may go for Delt. Thanks.

Hear hear no 2!

We should all have a shared interest, ie benefitting from value creation in Delt, fingers crossed!