George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Flip flop Heidi,
Hilarious 😆
I have a green coffin around that complete waste of space
Jack
“This success further demonstrates Deltic's ability to attract world class partners and our priority now is to build on the Selene farm out success with Pensacola.
We are progressing an active and ongoing process to realise value and farm down our Pensacola discovery with the aim of bringing in another high quality partner and reducing cost exposure to the well.“
Active and ongoing, Sounds like excellent news to me.
Jack
Rot1
I tend to agree that everything points to a farm out.
Terms and 3 Party/Parties to be confirmed.
If a good deal can be achieved, the SP will spike upwards and leave drifters behind.
The success and timing of subsequent events may provide SP momentum towards full value that is being talked about.
Jack
Itsawrap,
The investment case has not changed here dispute the Heyco Energy acquisition of Egdon. Maybe a change in reporting timelines, but Heyco didn’t acquire a pup.
The problem here, as exposed numerous times before, is the utter dross coming from Heidi and the like. Forget about the perception that “She” is in the know.
Much more likely is an attempt to swing the Market by posting complete bull. I would not be surprised if it was fronting a much more dubious outfit.
I took a position some time ago and all the indicators show positive upside. Continued to buy at these levels.
Jack
Dr P
I think we need to view the order of potential news.
We know that Valaris 123 will be on route to:
“One-well contract with Ithaca Energy in the UK North Sea for heavy duty harsh environment jackup VALARIS 123. The contract is expected to commence in April 2024 and has an estimated duration of between 45 and 72 days. The minimum total contract value is $6.3 million.”
The March corporate presentation shows Selene mobilisation and drilling during the period June to Sept, after the farm out and full funding from Dana.
“The two wells will be drilled using the Valaris 123, a heavy duty jack-up rig, with Selene and Pensacola being drilled as a two well sequence, with the contract and mobilisation commencing in the June-July 2024 period.”
On that basis the outcome of Selene maybe known before Pensacola funding is confirmed.
The March corporate presentation shows Pensacola mobilisation and drilling during the period August to December.
Clearly they were comfortable to sign the rig up before full disclosure of funding, so on that basis a Pensacola agreement must be advanced to a stage that permitted that action.
Obviously if that is not the case, the best time for a placing would be June onwards riding off the back of anticipation of Selene.
Jack
NVG
I don’t know if I should be appalled at been called a “Wired Liar” or
Euphoric with your statement
“Some of what you’ve posted over the years means that you’re definitely on the inside track or are closely associated with someone that is.“
I am a private investor, who is opportunistic in outlook, enjoys factual analysis, hates BB bullying or individual posters who clearly have a warped view of reality.
BBs are unregulated to the point where some posters exaggerate false logic for financial gain. They are easy to spot and to challenge.
Some posters who choose to spit feathers will get a metaphorical nail gun response.
I invested heavily at the outset of RBD as I bought the story. My book loss runs to £’000s which I deeply regret.
As you have searched my posting history you will see that I have commented that Victory sale was a very poor return, the value exchanged for Colle Santo was excessive and the demise of California to daybreak difficult to rationalise.
Paul1deano. I have been selling down my position as there are much better investments elsewhere. In addition the existing Directors should never have allowed their relationship to sour from “Strategic Investors” to disinfranchised minority shareholders.
I have positions in DELT, BEACON, UJO, LLOYDS and M&G for dividend yield. I invested in Adobe in Jan 23 at $336 due to AI noise and they hit $ 630 recently, falling back to current $560 pre Q1 results due 14 Mar. NVIDIA Is another I follow. Big winner with GKP following Jeremy Asher purchase for pence and sold at £3.60 ish 10 years ago ROI £365k. Flight to Zurich for board meeting and posted on III at airport resulting in 360+ post tick up. Ploughed £35k into SXX at 4p and sold 8 weeks later at 8p. Those were the days. Nothing to prove and no axe to grind.
These are not tips, and represent just a slice of a wider portfolio.
My altered ego is definitely not an insider at RBD
Jack
Watts
“ The support for KS was largely a protest vote ”
FFS.
You mean the 8.15% he and his mates could muster, at another abortive attempt. The cost of this was picked up, again, by Shareholders.
Your money ! 😂
I suggest you put your fiver in the post office, as you should not be investing here.
I think incompetence is a little closer to home than you think. 🤔 But you need a brain too do that.
Hilarious
Jack
NVG
“keyboard warrior, you clueless little jumped up Pr1(C)K) - F right (O)FF...“
Oh dear. Every time you look in the mirror, you see your message above staring back at you.
I would have preferred to see your clueless diatribe rather than Zero having them removed.
Hilarious.
For the avoidance of any doubt:
1. I am not connected to RBD in any way.
2. I do not have posts removed, especially your c.rap.
3. I do not have multiple IDs.
Why don’t you take your own advice and go fight yourself out of a paper bag.
Oh yes…..you would struggle!!!
Jack
NVG,
Your reply just confirms my statement that all you see on this BB now is dross. Rather than intellectually challenge my post your reply was vacuous and more a kin to a Dandy strip.
It’s sad that you have joined the likes of Watts, Moniman, Uggy, Heidi et al.
From Day 1 it was obvious to me that the requisitioning party would fail abysmally. Your Dusty bin routine put forward the lack of premium being offered as the reason 80% voted against.
I could list at least 20+ other reasons why there was a complete lack of credibility with the requisitioning party, which grew day by day.
It’s definitely not gloating but pure old fashioned common sense.
You are a waste of space so Vent your spleen elsewhere.
Jack
Itsawrap,
I see the Minority Mo..ron's (MM's) are still here.
You previous post on 09 Feb gave the link to the bundle of documents uploaded on va.mite.gov. 112 documents in total all dated 19 Dec 2023. So I can confirm that the RNS on 20 Dec 23 was factual that documentation had been submitted.
Clearly the MM's commentary that the website was showing blank, just proves how simple their view was at the time. Obviously, a government department would not vet the bundle of documents but just upload to website. Ouch !!!
Very interested to see your link to earthquakes in the abruzzo region going back decades. 221 have struck within the last 10 years within 300km of Abruzzo. 84 (Mag 4+) hit in 2016 alone. Strongest since 1900 was Mag 6.9 on 23/11/1980. Strongest in last 10 years Mag 6.6 on 30 Oct 2016.
Taking that info into account, the Bomba Dam constructed between 1956 to 1962, held back water in a man made lake. Water does not flow over the Dam but its construction is via an impact slope. The MM's would have you think that the engineers at the time of construction completely ignored the earthquake history in the region. Ouch
The MM's would also argue that the two wells (MP-1 and MP-2), that have already been drilled and ready for production, would somehow cause seismic magnitude scales greater than all previous earthquakes in the region once they are brought back on line. Ouch
Let's see the next round of absolute garbage from the MM's. At least all you see on this BB now is dross.
Jack
Dr P,
Nothing we don't already know. Both Malcy and Cannacord are both forecasting a 10 bag from here, although they do represent an inside view.
However, the deal with Dana on Selene was a good deal, especially when viewed on the position DELT is currently in. Whilst some would have wished to retain the 25%, I think to swap for a NIL cost option beyond the exploration in Q3 was an exceptionally good move. What's even better is an outfit like Dana must also think it a good deal, which validates the data on Selene prospect thus far.
Then there is the appraisal of the Pensacola discovery and potential farm out deal TBC.
Surely the conveyor belt of opportunities has increased in the credibility stakes, which is another plus for DELT.
Shell sorting out the rig contract must provide further evidence that we will shortly be entering a very exciting period for DELT.
Jack
I think Delt have played a blinder in releasing today's news on the Selene prospect, attracting an established operator like Dana.
Remember they still have the Pensacola Discovery in their back pocket, and any news on this potential farm down would logically be on much better terms.
Jack
Dr P
Did you have a breakdown of your estimated £20M cost to Deltic for Pensacola and Selene ?
I see we are squeezing in before TAQA.
TAQA has agreed to take the heavy-duty harsh environment jackup VALARIS 123 on a six-well contract for the Porthos Carbon Capture and Storage (CCS) project in the Dutch North Sea. The program could cover up to 10 wells and would take about 300 days to complete following the anticipated start in fourth-quarter 2024.
Operating day rate is $142,500, increasing to $152,500/d from Jan. 1, 2025, and $162,500/d from Jan. 1, 2026.
https://www.offshore-mag.com/drilling-completion/article/14301065/valaris-negotiates-drilling-contracts-extensions-for-multiple-floaters-jackups
I have no idea of the upfront deposits for Rigs but this announcement must mean that Deltic are confident of securing funding, whether that is from Debt, Placing or Farm down route.
Interesting times
Jack
MickyBee
Yeah what a joke.
DB got his laptop out and bought £645k of Beacon stock like any PI would.
OR
They rocked up at Beacon looked through the portfolio of assets, studied the reservoir properties of Sch2.2 and the 3 metres around the wellhead preventing flow. On the way back in the taxis the technical team had a high degree of confidence that a proppant squeeze or similar would unlock substantial flow rate.
What do you reckon ?
Jack
“We have met with the management of Beacon and are familiar with their onshore assets in Germany, which we consider hold impressive scope and upside potential for both the near and mid-term.”
"Without doubt we see a synergy between Beacon's and Union Jack's modus operandi and we look forward to the results of what appears to be a very encouraging and value accretive work programme going forward, including the testing of the Schwarzbach-2(2.) well."
Gwynwin
I think you need to check your maths.
Ask yourself why a £20.5M Market Cap is so wrong if the forward revenue stream is 30 BILLION $ to UJO.
Fundamentally wrong
Jack
Good to hear the level of interest and the reference to valuation v SP.
Jack
“we are pleased with the potential valuation that RPS ascribe to the discovery net to Deltic, particularly within the context of our current share price.“
Moniman
“ when we got the last payment of £5.2 million in December the SP went down as it did when the previous £3 million was received.”
What you conveniently forget that on both occasions a very small minority of Shareholders were seeking to take the company over for free.
Just look at the decline in the SP from Nov 23 to the 10th Jan.
You will enjoy that job, with the utter nonsense you peddle.
The market will now compensate the SP with the cash value received and this year the assets should see a multiples of return.
Jack
Dr P
“Since the upgrade of Pensacola in July 2023, both are estimating £2+ risked value, targets of around £2.4.”
So maybe a ten fold return. No wonder monetisation negotiations are taking so long. A decent farm out to a credible third party and the SP could have wind behind the sales.
Will the CEO be cautious with his finance background or throw caution to the wind.
The clock is ticking.
Jack
Hydras
You might be right with HEYCO.
However, the future might be brighter than some think. During the pump installation it took around 5.5 months to clock up a net $1M to UJO.
The recent RNS reported a constrained 665 Bopd.
X 91.25 days for a full quarter.
Less 10% down time
Equals 54,613 barrels
40% net to UJO 21,845 barrels.
Brent crude has been consistently above $75 for the last six months, so assuming no change
Total net to UJO $1.64M
Say $6M per annum.
Now Heidi has been totally discredited I’ve changed my mine on UJO as Wressle alone is throwing off significant cash flows.
Going long…….
Jack
Moniman
ADYOR 😂
You have to be kidding.
For starters , RBD have 26.1% of LNEnergy, so RBD don’t have 21% of the project as you state. In fact, as LNE have a 90% option RBD share of the project is 23.49%.
https://www.lse.co.uk/rns/RBD/further-investment-into-lnenergy-wxku7wqtdc48f6e.html
$60M ?
You mean $72M including option acquisition of $11M. Of course to first gas that drops to $30.65M including option acquisition. 20-40% of production CAPEX could be funded by Government Grants.
Debt finance for the $ 30.65M could be secured on attractive terms once the licence permissions get the nod. Obviously it helps that the site has already had numerous wells drilled and flow tested.
Servicing the debt is a given with Post Tax annual cash flow of $13-14M assuming gas sales at 9 mmcf/d at €45 MWh.
With regard to RBD share of gas sales it’s 26.1% dummy. The shareholder agreement between RBD and LNE would have multiple protection clauses concerning dilution of capital etc so there ought to be no concern on that front especially when debt financing is announced.
Keep searching for the EIA and ADYOR
Jack