Member Info for DrPatience

SE18, we are on the same page!

It's falling on no news and general panic. Time will tell, but I'd wait and see. Clearly Delt is working something.

Noel, you feel you can buy back cheaper, later ? Or are you just out?

I don't think new licence awards will do much for the SP. Only concrete news wrt Selene or Pensacola will.

I understand all the previous comments re politicians and the risks to Delt. Another lesson to be learned next winter. The Tories are pretty two faced; probably Labour not much different. Should just man up and think about the country first.

Don't forget all the valuations are done at modest gas prices, so windfall taxes should be seen in that context plus big benefits from investment deductions.

I get the Labour risk, but listen carefully to Starmer. He is saying no more licences, he is not saying no more drilling or pumping. He is a lawyer and will have chosen his words very carefully in my opinion. That means Delt should be OK to exploit/monetise what we have. Anything else would lead to court cases as the licences are legally binding commercial contracts.

He who panics now, may miss out later. I am hanging in here for sure. Always irritating if you could have had a cheaper average, but that's life!

If Tombi is not holding or interested in buying, why is he spreading drivel?? Clown.

Oilmajor, yes hopefully this is a good way forward. You are right re timescales, but hopefully through a combination of ongoing monetisation and continued investment in the fields to derisk/raise value, things will move positively!

What's your definition of rinse and repeat? It's suggesting something irregular is going on to make people feel they should sell, although they probably shouldn't. I'm interested to learn more as I am relatively new to this share (been building since last year). - thanks! (and not selling until we have several trances of good news be it this year or next)

1) Yes, it depends on your platform when it will show correctly. Would be interesting to see what happened if you tried to sell the old share no at the new price :-)

2) You got 1 share for each block of 20 shares held before; so yes, currently 30p per new share.

Cheers

They paid fair market price using real cash, so no-one got short changed.

Peddling the same misinformation that they somehow got preferential rates, doesn't make it true.

I actually voted against res 8/the special resolution, but it was overwhelmingly adopted by other shareholders.

It (again) gives the company the flexibility to move fast and work with a small group of existing or new investors, if funds are required. Again, no-one gets short changed in such transactions, as the fund raise in such cases is done fairly at the going market rate.

I voted against as I prefer to be invited to participate, equally based on shares held.

If you really believe that, then you should sell right now and cut your losses. Simple.

Thanks...

Good/as expected!

Were you at the mtg by any chance? Sadly I am abroad at the moment, but would otherwise have pitched up!

Purdey, fair point!

I suspect the anchor investors are closer to the company than the average small investor and although I am pretty sure they are puzzled and perhaps even irritated about the share price, it may in reality not bother them too much. It could be argued they could acquire a greater stake for less, if they invest now. If you believe in the company, that's actually not necessarily an issue.

If Delt comes to the market with a credible plan...say we need x £s to keep our share of economic rights when Shell starts drilling Selene, then you upvalue the company ie any delayed monetisation will only be worth more than now. It's all about de-risking.

They may also soon announce a monetisation event, in which case any fundraise ideas will be put on ice.

We are on the same page Fairdealer!

However, I believe the issue is rather the special resolution, also referred to as resolution 8. Without that, they must offer shares to all shareholders, fairly. Res 8 is bypassing that requirement.

I have already voted "no" to that one, but with slightly mixed emotions, as the company management may need the flexibility to move quickly. The counter argument may be that they should plan better ahead and not end up having rushed fundraises!!!

None of the shares at the last fundraise were offered at preferential rates, so no-one got short changed, as the shares could also be bought freely in the market at the same price.

Exploration, in my view there is still plenty to monetise, even if the Capricorn sites don't evolve as expected.

Selene and Pensacola on their own ought to be worth a lot more than the current SP.

To be seen if they can pull it off. I am happy to hold what I have and see. The potential upside outweighs the risks, but that's entirely subjective.

It's my understanding they are committed; working in the background with Delt. Shell is not pulling out of the North Sea across the board; I know some people are peddling that story. As any other global, agile business, they are constantly updating their projects and will generally only do what's most attractive to them. It's normal.

I believe the Delt projects are worth their time!!

I agree. Selling this business, clearly served a need and will bring strategic focus. In my view the rest is worth more than when they started out/IPOed...and shows the underlying strength. Really should jump back to 120+ once people wake up to this.

I just hope the rest is not sold too early! However, why would anchors investors allow that? So ground for lots of optimism!!

Cookoo, why don't you turn up at the AGM and express your views or at least write to them??

However, you somehow need to convert your negative drivel into something more coherent though - for anybody to take it seriously.

The reason for share consolidation has been explained in the documents, but nothing wrong asking why they chose this ratio. Also nothing wrong asking about cash position, future fundraises, etc, just as you had the chance at the recent meet the company event.

To suggest misuse of funds is not constructive, unless you have real evidence.

I do trust they are working hard on monetisation in the background, but it's clearly limited what they can disclose to us about insider info until they are ready for an RNS.

As Fairdealer says, you are still in time. I did already online via my trading platform.

The consolidation is mandatory, but clearly only if voted through. I am sure it will be, as it is a sensible step (psychological mainly) to move away from being perceived as a penny share. I think they could have been more aggressive, but this is better than nothing.

This is not directly linked to any future fundraises, although they may come (and so what if the proceeds are spent wisely?!). I personally rejected the special resolution, as I prefer ALL shareholders are offered shares pro rata in fundraises based on their holding. I also accept it's beneficial for the management to have the flexibility to move fast and it does NOT mean new shares are offered unfairly at a lower price (some people on this board are peddling the latter - it's a falsehood!). It will probably be adopted though.

I am also interested...but I think no-one knows apart from insiders who cannot divulge any info unless through RNS?!

I assume they are working hard behind closed doors to create further value for all. Looking fwd to next RNSs!!

I agree wrt Capricorn; definitely all up in the air. The assets are still there, but a distraction.

What you say about Shell in the context of Delt is highly speculative (or even intentional falsehoods as suggested by others; note: I am not saying that), albeit possible, to the the extent you are inferring the Delt team is lying!! (as they are saying they are working actively with Shell on both Pensacola and Selene). I guess time will tell. I prefer to have Shell as a partner and put my trust in the Delt team! If I am wrong, so be it!!

Only when we get tangible news. It's trading randomly (be it up or down) on no news until then, in my view.

Gas has been found, that sounds a fact; there is no logical reason for the current low price unless people are losing faith in the management's ability to monetise or upvalue Pensacola or Selene! It can also just be the usual AIM traders' circus; the price is easy to move by MM, rumour machines, day traders, etc.

We need tangible news to link the price to fundamentals. I am still confident we will get some news in the next few weeks or months.

I feel the level of comms from DELT could be stepped up, although I appreciate commercial confidentiality is at play.

Purdey,

That's a great average to have, well done!

To be honest, if it affects your mental wellbeing + if you are retired and cannot "afford" to lose the whole investment ( "afford" meaning both in a mental and/or financial sense), then maybe you are better off selling and taking profit.

More generally, it's a strong buy for me due to the potential (but by no means risk free) upside and we will probably have news on more licences and/or monetisation over the next few months.

Preferential rates mean you get shares for less than the going rate; with same rights, I am talking about how many shares you have the right/opportunity to buy for each share you hold. The first would be unfair, but that's not what they did. The latter is more of a principle/personal preference for me, but often a company needs to give more to certain investors for speed and to secure the deal with certainty.

Nothing contradictory in what I say, it's pretty basic stuff.

It's pointless you spread falsehoods about the company and how they operate. The same "boys" have invested fairly and transparently. Speak to the regulators if you have evidence of wrongdoing, You don't!

You bought at the wrong time and/or cannot afford to hold, then just stay clear of this type of investment, which is of higher risk and speculative nature. Serious upside potential though.