Member Info for DrPatience

I guess this is something Snoop said (only person I have on filter). Someone with that level of knowledge should really not invest on the AIM market. 1) you really need to be a fairly sophisticated investor 2) you should be OK with losing the ful investment (and not be bitter about it, if that happens). Clearly Snoop is none of those. I do feel sorry for him/her to be in such a bad spot and really with nothing sensible to add to this board. Just sad.
Of course they are not issuing an RNS with something to say.

Thanks Exploration, I actually think Delt may be better off finding new partners given what's been happening at Capricorn. Hopefully, the licences can still be monetised in time, but for me they are currently fringe extras vs Selene and Pensacola. Just those too, if things go well, should take the share price to 5-10p depending on how derisked they at the point of monetisation.

OK thanks Exploration. So in reality we don't actually know what will happen... yet. So why all the panic, that's my point. Even if they walk away, so what, no big deal. Just new opps. The licences are not really at risk.
I am not really concerned, it's just a distraction. More than enough value will be coming from Selene and Pensacola in due course, with the usual risks appreciated and accepted, the rest is the icing on the hopefully very tall cake!

Noel, that's how I read that without any other concrete information, hence also my question to Eploration, who made a very clear comment that they are pulling out. Why should they let it go for nothing (surely they have alreay invested time and money so far), would seem rather silly. However, it doesn't really make any great difference to me personally, as I do not hold Capricorn.

BAdA, so true! Another storm in a teacup!
But thank you to those who are selling, I guess!!

Exploration, this is what they (Capricorn) have said: "...and to farm down, monetise or exit exploration concessions outside Egypt.". Do you have any other specific info on this? Or are you merely assuming they will exit? In case of exit, DELT will have another go at this. In case of some other deal structure, another partner (s) may enter, as for Selene and Pensacola. Anyway, it's just more upside, albeit with a bit of disruption. A new, serious partner may actually mean we come out stronger. All extra upside for me, as explained below. Still see absolutely no reason to panic.

Exploration, I already have no actual value attributed to the Capricorn stuff (apart from a speculative upside from Capricorn deal or with someone else). Even without this, Selene and Pensacola etc are almost certainly worth several multiples of the current share price. Hence my position. Just needs a bit of time.

Same here. It may or may not fall further, but I just keep adding as the upside will be several multiples regardless with a little bit of patience. I still don't understand why anybody would sell at these level, unless they NEED to close positions!!

Thanks for sharing Champery!
Also, lots of people only talk about the profit levy, but totally forget about the additional investment allowances, introduced to encourage the sort activity Delt is engaged in!
From the gov.uk site"The new investment allowance rate is 80% and means the total tax relief on investment nearly doubles - for every £1 businesses invest they will overall get a 91p tax saving."
The Delt team spoke about this at the recent shareholder meet.

Noel, happy to learn from you, you triggered my interest!
If I can learn and it helps to gauge top and bottom, why not.
I still feels fundamentals, ie actual potential upside(s) vs risk(s), are very very good, but always better to add near the bottom even if we eventually end up significantly higher than 3.5p!

Noel, I am not trading charts, nor can I read them (I am more long/macro driven, I guess), but I am really interested in any patterns you see regardless, for what it's worth!
Meanwhile, I just keep topping up. No idea why anybody would want to sell at this price!!

Exploration, I agree re M's law; it's the same in all engineering projects.

If you listen to the presentation, starting 38 mins in, the CFO is very clear in my opinion. No funding needed in 2023. Activities in 2024 are not funded, I conclude. Hence, they are trying to monetise some of the (valuable) assets.
Wrt: "But I’m afraid neither the CFO nor the COO at Deltic has the long-term experience to cope with Murphy’s Law in E&P operations;". That's probably very true, and probably they would say the same! The whole idea is secure rights/explore and then monetise. Having serious partners like Shell is totally the right thing to do. I don't see an issue with this, I feel they know their own limitations and will stick to the DELT strategy.

Brilliant summary, Exploration!
Fairdealer, I think this process is fairly normal; not hit and miss. It's merely a process and you refine your numbers as you move forward. Rest assured the Shell and One Dyas teams are very good at this.
The point is we need to wait, this requires patience!
My understanding from the CFO was that they are fully funded for all activities during 2023. I don't think Selene is included in that, but it will most probably be funded by the current monetisation efforts rather than a fundraise. Hoping that they can dealmake!!

Fairdealer,
It's my understanding the Selene wells are still undergoing planning, hence costs not fully known yet. We do know Delt will fund 25% of up to a total cost of $25 million, hence up to $6.25 million. What happens if the budget is higher than $25 million, I don't know. It is probably mentioned somewhere in past RNSs or presentations.
For fund raises, I agree ALL investors should be invited and with decent notice. These things should after all be carefully planned, not rushed. I have already written to the company re this point, and I invite others to do the same. It's more of a psychological contract than anything else, as I understand the investors in past fundraises did not get preferential rates vs the going market rates at the time. Anyway, we agree ALL should be invited! There is also always the risk that the share price jumps as the fundraise is underway (if the story is good)
For now, just celebrate you are better off than investors at the last fund raise :-) ... I do!

Fairdealer, I would also have liked a bit more details. However, they are clearly having numerous commercial discussions and maybe even negotiations behind closed doors. Giving any real details would compromise their efforts. We will need to wait for an RNS at some point!
I think as soon as we hear concrete info on any sale, farm-out, farm-downs etc, we will be rewarded through the share price. I get the feeling that any proceeds will be invested in other areas (rather than return of capital to shareholders), hence derisk and increase NPV of the rest of the portfolio. For me that's perfectly fine as a strategy.

AWBA, actually I don't mind so much another fundraise, as it would retain more future value in a sense. Not having one is probably better, as it means they are getting on with the monetisation plan, which clearly is what this undervalued share needs!
Frankly, I am just adding as much as I can at this level. The banking crisis has delayed my planned rotation, but I have patience...

DELT CEO: DELT share significantly undervalued, looking to explain value more openly going forward, in particular Pensacola.

DELT CFO: EPL is an opportunity for DELT

DELT CFO: fully funded this year and no fund raises currently planned/anticipated given the various monetisation options in play.

DELT CEO: Pensacola so far exceeded all expectations!

Worth hanging on to this share to really understand the post drill analysis and monetisation plans, in my view!