Member Info for DrPatience

Cookoo, there is nothing wrong with a fund raise if used wisely. It's normal; it's an investment. The big probablem here is having down rounds - not good! Also, ALL investors should be invited, although no-one has been cheated in the past, as fund raises were done at the going market rate. No special deals, just done for speed, as much as I disagree with not inviting ALL shareholders to take part. I know how you feel and I do understand the bitterness having been invested for so many years; you have also repeatedly indicated there is something fraudulent going at Delt, but we are all still waiting for any evidence from you. There are places where irregularities like what you suggest can be reported. Have you done so?

That fact that Noel thinks you made a good post, presumably means he equally believes that there is something not right at Delt.

I'm always happy to listen to both postive and negative arguments and counter-arguments, but repeating the same allegations against Delt is really not in that category.

Serious allegations guys, I really think you should report it formally. If you are right, then all shareholders will thank you for it. If you are not providing any evidence, you really should stop spreading these allegations.

Lots of buys today/Friday; many trades with round number of shares (10/25/50k), suggesting somthing to me, as most of us small guys and gals just buy for whatever cash we have at hand, rather than consistent blocks of shares. Still small enough to stay under the radar and not really pressing up the price... is someone building?

Does someone know something about forthcoming news??

Just wondering. Time will tell I guess.

Louis, no one likes a down round, so yes, you are right. The only way to sex this up is tangible news.

If the post drill analysis work is positive for Pensacola, then that in itself is positive and will warrant raising more money, although equally can fund it in other ways without pumping money in from our side. If it is negative, then money is not needed for Pensacola!!

Louis, no one likes a down round, so yes, you are right. The only way to sex this up is tangible news.

If the post drill analysis work is positive for Pensacola, then that in itself is positive and will warrant raising more money, although equally can fund it in other ways without pumping money in from our side. If it is negative, then money is not needed for Pensacola!!

Thanks Chambery, will give it a go or go for the CFO!

SE18, several of us are on the same page; several of us are actively adding.

Maybe we should change "camp" and talk it down like Cookoo and others, instead. The lower it goes before we have real news, the better!! Once we have real news, good or bad, that will suddenly drive events in a different way. At least some link to actual facts, not just fear and sentiments!!

Chambery, yes indeed. Before you raised this valid point, I hadn't really given it too much attention. In the short term it may not do much and although future deals probably will be structured to optimise the tax benefits (as per their March update), it would be good to know.

Will happily try.

May I ask who/how you engaged with them?

Chambery, as it stands I trust that's correct, but going forward, it will improve the project economics for all; ref page 14 of the Deltic March corporate presentation.

Also, I am no tax expert, but I believe any unused investments can be carried forward and that will be a huge benefit for future profits/monetisation events.

From the relevant HMRC manuals:

"Any unactivated allowance is carried forward to the following accounting period. This is calculated by taking the total investment allowance for the field for the period, adding any brought forward amounts (CTA10\S332FA) and subtracting any amounts of activated allowance for the period.

The company may have carried forward balances of both activated and unactivated investment allowance."

Trek, as much as I hope you are right, I think trading may only significantly improve during the second half of the year. Biotech/ pharma companies have been holding back with their investments, but it should pick up.

I would have expected a lot more director buys, but in reality I don't think they actually care too much about the current share price (still a wrong attitude in my view; a low SP is never good), as the end game is a sale of the whole company. This will be the large investors' game and selling for say £50million would be seen as a huge failure.

For the patient investor, it will pay off.

Cookoo

Why?

Because you are adamant there is foul play at Delt and that it will fall. Unless you are into self-harm, then surely you would either sell and move on or buy back at the lower price, although the latter makes no sense if there's fraud going on at Delt. No evidence provided, so it's really just bitter slur.

Read my other posts carefully please. I am aware of the risks. It's a calculated punt. If I lose it all, it's on me. Woirth the upside potential, hence why I am adding whenever I can.

Noel, no worries.

It's a big day actually, I am out of Cookoo's green room !!

One day he will realise that I am a serious investor. I get his frustration re the time it has taken, but I do not subscribe to his allegations of fraudulent behavior by Delt, its management and large investors. He has put no evidence forward whatsoever. Saying it repeatedly doesn't make it true.

Ok Noel,

Wrt "All we have is hope value. There is no point in trying to analyse the available information and work out the future. It is simply a case of wait and see. "

We basically agree.

I believe there is a lot of value, potentially. Those who don't, sell. I buy. It's probably as simple as that.

Cookoo should really sell his handful of shares; he obviously think there is something fishy going on. I don't.

Most people think oil&gas exploration is a get rich quick scheme. It's not, it's a long game. This partially explains the current situation. The first drill at Pensacola was just that; more work to do...

Noel,

I'll stay clear of the BadA- Noel clash...

What is the new reality in you opinion?

I feel there is none; fundamentally the assets are no different from when the Pensacola news came out. It's almost a binary outcome for each field, I am conscious of that, but worth a punt (for me). The fact that Delt and Shell are working on the appraisal is a good thing, it means that most likely there is something worth scrutinizing. Again, not a sure thing, but rest assured Shell do not work on dreams or failed fields!

Until we have news it could at any price level depending on how much small holders are in panic, not having appreciated that oil&gas exploration is not a sure thing.

Trek, I guess you meant to post the below here??

I agree with you all round, except wrt take over. The large shareholders (as you can see on the ONC website) are serious, patient investors and will not agree to a sale when they all paid almost 10 times the current price. I simply cannot see it happening.

Positive trading and a jump may only be seen 6-12 months from now, but given the IP they have this is now a bargain where any additional top line revenue pretty much goes to the bottom line. I'm drip adding whenever I can to lower my average. It may well be the bottom: if you try large buy orders, the price firms very quickly. Suggesting only really small holders willing to sell.

"Started buying a few. It looks like the bottom is in now. Has revenues, just sold assets to complete financial restructure. Could climb to 40p once market sees revenues for high margin immunodiagnostics business. 80% returns, 7 top 10 Pharma’s as clients for its huge databank, probably the biggest antigen databank in world! It looks for responses saving pharma loads of money and time on clinical trials.

If it doesn’t bounce imo it’ll be taken over as an easy bolt on for an R&D biotech.

Debt was a problem but sale of its lung cancer screening business has addressed the balance sheet but it hasn’t recovered yet as the market isn’t sure of the cash flow. So it’s a high risk play but that gives it a good chance of a hard bounce if the sales pipeline is there.

I don’t think it will take much to move it but punt money only!

Usual caveats

Trek"

Hardly any volume these days. I have picked a few more over the past week, but I guess most people who wanted to run for the door have disappeared. Many hloyal olders will sit on huge paper losses including the main, anchor shareholders, who clearly are riding this out with the eye on the end game. So much for loyalty...but with patience this will come good.

I personally would prefer more updates from the company. I was wondering if anybody went to any company meetings (e.g. AGM) and/or have been in direct discussions with the management? It seems to be their communication - both quality and frequency - needs to be improved.

Noel,

You didn't have to sell a couple of shares at 20p just to prove your point. You may well be right, it's posible. It's also possible we have real news, it which case it will be different. And yes, I am dreaming about good news. Delt is working in the background on value adding things, so yes, it's very possible. We need news, I am under no illusion that we can just continue without news and in theory it can trade to any level until then... because this is the nature of AIM and small private investors. A bid will not be entertained, the main holders will not, unless we have dry wells of course! (in which case share price = 0)

15:55:16 20.00 3,274 Sell*

Noel, not talking anything up or down for that matter.

I believe they have assets worth much more than what the current share price is. Risk/reward story, nothing certain about it. I am quite happy to drip add as and when I can.

For those who think otherwise and if you hold shares, cut your losses and move on, no point holding if you are certain it will collapse.

What's you game Noel?? You sold and now talk it down to buy back?? If you still hold, just wait for news, little more we can do!

Never had you on filter; never said so to my recollection.

Noel, I am talking about the fundamentals. Do you agree or do you not agree that the fundamentals are the same? Surely you don't fall for all the political fluff and idiotic statements that Shell is pulling out of the North Sea.

The current share price is based on small investor sentiments only.

We have no additional news to work with, no doubt because the Pensacola appraisal is being worked on behind closed doors and comms controlled by Shell. There are also other developments in the same region with overlapping actors. Again all very tight lipped. Something big may be brewing, it may not.

Cookoos predictions have no basis whatever, neither does the double your money statements. Why not 5p by xmas or 100p by Easter; just show me a reasoned argument. Noone can until we have tangible news. Reading the charts at this point will not fly in my view. Tell me if you think you can, please!

If you believe in the assets, it will definitely go up, possibly a lot. If you believe all the assets are dry or financially unviable, then it will go to a big fat zero.

For me both Selene and Pensacola are hugely promising with a credible partner, so sticking to my bets! Drip adding when I can; no idea if this is the bottom or not, but so what?

Louis, fundamentals the same apart from some confusing noise re Labour 's intent to stop all drilling. It's been clarified since, so they may/will only stop new licence awards.

The lack of real news...doesn't help, but nothing has really changed since the positive news re Pensacola.

Always a risk a field is not financially or technically viable, but that's nothing new and for me personally well worth it, even more so at this price.

Purdey, it's frustrating, but I guess lse just assigns "buy" or "sell" depending on the final price vs midpoint of "bid" and "ask"; currently showing 23 and 24 respectively. If you land below mid point, I guess they take it as a sell. Probably DELT shares are a bit soft at this point (which in some ways are good when buying).

Almost better they stay clear of buy and sell allocation?! I am not sure what other sites do. I am using the Interactive Investor platform and I am unsure whether they display and buys and sells anywhere.