Member Info for fairdealer20

Oh dear, you must stop listening to Supermouse. Maybe your a trader too!

"Given that your basic premise is to repeat the bleedin’ obvious"

Come on clever clogs, what is the "bleedin obvious" ?

Whilst at it please give us details of the Loan Breaches?

Wigwammer you are trying your hardest to be contraversial and offensive. These boards are for exchange of views which readers can note or dismiss. Have seen to many self appointed experts who have an agenda, I have retired from the beverage Industry so can claim to know a little.

Try to moderate your tone, we can then have reasonable exchanges which may be disagreeable. That is the nature of free speech. Take it or leave it.

It is up to every Investor to carry out proper research of any company that is of interest.

I do not agree, some are gullible and fail to recognise truth. Those individuals many novice investors need to be aware of the risks and undertake proper research of any company in which they invest..

Every reader are at liberty to accept or reject what is posted here, but should always DYOR.

" Why on earth would you say this once, let alone repeat it again and again?", because novice investors and those with memory problems need reminding to protect their hard earned cash.

There is an Expert here who seems to have dificulty with the truth. Whilst in a period of purdah the BOE will not change interest rates until the Election is over.

The company is selling down assets to achieve debt reduction required by Funders. Some believe debt stands at just over £1billion whereas the true total current debt is just over £1.5billion. Just read the last published accounts.

Oh dear SC, is the company paying by the word or post?

Last year all net profit was swallowed by interest payments. Stonegate are facing the same extravagant spending Marstons were doing 8 years ago. Buying pubs just to be the biggest makes no sense when borrowings run out of control. Do you know if Stonegate have raised the £2.2 billion they needed to remain solvent? Have they an arrears payment arrangement with suppliers?

Apart from sporting events, where many buy cheap booze from Tesco and co, the drinking culture has changed. This is why many Pubs have restricted opening, only open mid-week till weekend. Serving of food is also reduced, many front of house experts say the same, " costs have risen and cannot be recovered without scaring patrons away"

Have said many times and will no doubt repeat, again and again, Debt is a huge millstone around the neck of Marstons. The current share price is the result of over-borrowing.

Has always been known Green hydrogen is marginally more eco friendly than Blue, however Green requires much energy to create electrolysis. Operators building Hydrogen production using Natural Gas are very aware of CO2,and are engineering Carbon Capture facilities. Until economic methods come on stream, blue hydrogen will be a much cleaner fuel for the forseeable future.

Olearney realise your post is for balance even though the thread is about the future of Deltic Energy and it;s shareholders..

Do you support Deltic and it;s partners in the quest for Natural Gas that will produce Blue Hydrogen?

Getafgrip, correct Deltic have shared 50% of the original share in Selene. The remaining 25% on previously stated values means net values per share is worth almost 130p, more than 15x the current SP.

DP do not expect the Orwell pretenders to focus on Human survival in the UK. Being part of the indigenious population seems to be a crime. Ignore Politicians, if you are allowed, the only way to get the message across regarding the need to provide energy to support life and endeavour to reduce our carbon footprint, is some very loud voices to inform the essential need to produce Hydrogen. Equinor and BP know it. Is there an agenda to deny the truth??

Contd.

Future

Selene is due to be drilled shortly. Deltic has a 50% share and is covered for Drilling and development costs, we are told. Should Selene come up Trumps and confirm almost 300bcf of Natural Gas, we could be in clover, or in a similar position to what is now being experienced. It all hinges on confidence in the current CEO and Board, their skills in negotiations and foresight leaves much to be desired. The Green Lobby and Political cheer-leaders have been well known for a couple of years at least.

Green Energy

Something has remarkably slipped under the radar is the development of Hydrogen.

Hydrogen is one of the perfect green energies. Equinor and BP have realised the importance of Hydrogen, have planned and are building facilities at both Humberside and Teeside. These facilities require Natural Gas as a feeder stock. NS Gas fields are in close proximity to supply infrastructure.

One wonders if Professor Milliband is aware and really understands the fundamental and significant use Hydrogen can and will contribute towards energy security and the race towards Net Zero, that he is pushing?

On a positive note, the Future is bright providing Deltic Energy have the right Management Team in place who can promote and demonstrate the considerable benefits Natural Gas will provide to the Nation as a whole.

Wind- power and Solar panels are unreliable. Placing all eggs in one basket is highly dangerous as any experienced Business Person will testify.

Reflecting on how Deltic Energy has got to the position shareholders now find themselves in, consider the known facts.

Partners

Having a number of NS Licences, Deltic Energy announced in August 2019, a Joint Venture agreement with Royal Dutch Shell, on 2 areas of the Southern North Sea. In exchange for drilling rights and consequential discoveries in Pensacola and Selene, Shell would retain 70% of Pensacola and 50% of Selene, Deltic would retain 30% and 50% of the 2 fields. Research had concluded both Fields were almost equal in potential extractable resources at more or less 300 bcf. Shell was to carry up to $25m in drilling costs on Pensacola.

Shell as Operator, gifted 5% of Pensacola to Dyas the drilling Contractor, presumably in payment for their (Shell) drilling costs.

Drilling and testing of Pensacola in February 2023 confirmed volumes of Natural Gas. Deltic’s costs of the drilling were £11.1m. At the time Graham Swindells stated

“Deltic remains committed to maximising shareholder value from the discovery (Pensacola) and across the asset base”

It was subsequently stated the Net value, to Deltic Shareholders, in respect of the Pensacola discovery, to be worth up to 167p per share.

In December 2023, GS stated “ JV now finalising the positive Well Investment decision, approved the 2024 work programme and Budget that allows for Drilling of the Appraisal Well in late 2024”

January 2024, GS informs shareholders, “Significant Interest from the Industry”

April 2024 and having made positive statements regarding Funding/FO, GS warns Interested parties are nervous because of the Political situation. This was a warning shot.it must have been well-known for at least a year of the ongoing and changing Carbon Neutral Agenda.

3rd June 2024, having warned in April, GS advises Shell have agreed a 10day extension to Funding confirmation. This was a smoke screen to prevent the CEO and Board being harangued at the AGM on 4th June. Blatant deceit?

11th June, Deltic surrender rights to Pensacola. Apart from costs already incurred Shareholders are now informed there will be residual costs associated with the Pensacola Drill which will not be known until 2025. Could this be a few hundred thousand or a few Million? As a Chartered Accountant, Graham Swindells, should be in disgrace. Not knowing or at least having some indication of the Residual costs, is appalling.

If Pensacola is such a poor investment, will Shell and Dyas surrender the whole Pensacola Licence??

Major Shareholders

Michael Spencer and Richard Sneller own almost 30% of Deltic and have been keen, to enhance their Individual Holdings, to the disadvantage of ordinary PI’s.

Having retained their Holdings, are we to believe either one is a Labour Philanthropist?

There can be no doubt they are privy to information Ordinary PI’s are not.

contd

Graham Swindells needs to consider his position

A Ban brought in by Jacinda Ardern ( Socialist) who almost broke the country. At least National have brought some sense into Government, whereas the UK is going in the opposite direction.

Interestingly and possibly co-incidental, Shell withdrew from NZ some 5 or so years ago.

If, as you state, Shishir remains in control, the company as it stands is doomed taking loyal shareholders down.

The adverse publicity, whole state of affairs, lack of transparency, inter-company transactions, financial competence etc etc, will make it virtually impossible for any sane investor to support/come on board, without there are dramatic changes in corporate management and commercial dealings.

Aj Minralis's presentation is all very well, except Panagraf is not listed on the LOndon Stock Exchange. ALL income goes to the Private Director,. Guess who that is??

Unless I completely misjudge Graham Swindells, am expecting the worst.

GGG your synopsis is too simple for our BOD.

Whether Shishir is a better Manager than Rollins is highly questionable. What is patently clear the Company cannot continue to be managed in the ramshackled way the Poddar family appear happy to proceed, whilst hoodwinking Shareholders they claim to value.

The Board signs off as a " Going Concern". Auditors have a Code of Conduct to Observe and will qualify accounts with an all embracing statement, "the accounts give a fair view given the information provided".

Whatever the rights and wrongs of both sides, the skulldugery going on here requires a Full Investigation as it does capital markets no good whatsoever.

Most online brokers close Voting at 1.59pm today.

TGR is London Listed. With all these shananhigans, will be surprised if the Regulator is'nt involved.