Member Info for MajorThomas1

Ismalia, where have you popped up from?

There's plenty of news flow coming up. There's no need to raise further funding at this stage and yes we can now go on independently and progress our assets through to monetization.

Totally agree Roadking. The fact that 2 companies have now tried to buy up our assets tells everyone how good our assets are.

Unfortunately none of the companies who have offered so far have the funds to offer fair value.

In time our assets will be sold off but not to these smaller players. DELTs assets are strategically placed close enough to major players existing infrastructure. These are the guys who will buy them in due course if exploration goes to plan.

Mole, agree on IOG not paying too much but 3p was always the fair merger valuation for DELT and IOG.

There was no way IOG could afford that with paper or cash but they need to realise that no company will sell off its assets on the cheap.

Why is it an issue? IMO IOG need to be thinking of exploration now so they have resources in the pipeline to atleast replace the production or preferably to increase production.

Why now? Because it takes years to progress these leads through to production. We cannot just pick up proven reserves on the cheap and plug them into our infrastructure. It doesn't work that way.

IMO this is the biggest anchor on our valuation and until resolved IMO we will not see any substantial growth.

I expect the SP to start to rise when Shell announce there firm well comitment, expected by 1st December, through to the drill.

However there are so many other SP drivers to come over that period as well.

I expect Sellene to be brought forward again. I wouldn't be surprised it it it drilled in the same drilling campaign as Pensicola.

I expect the farm out of Cadence and Cordova.

I expect farm out of Cupertino and Cortez.

I expect farm out of Dewar.

IMO DELT are are just at the start of 2 year period which has the potential to see them 10 bag.

I don't think it was a spoof. I think IOG fell into the trap of valuing a company on its MCAP rather than its assets and liabilities. Fair play to the board, they stood their ground and protected their shareholders.

I always said it would need to be over 3p to represent fair value for DELT shareholders. Guess IOG couldn't work that one out.

A waste of both companies time.

Well there you have it. No deal.

Disapointing from an IOG and DELT perspective. A missed opportunity for IOG I think.

Looks like IOG fell into the trap of valuing a company on its MCAP rather than assets and liabilities and though they could get DELT on the cheap.

Nonshort term pain for me Oil. I invested with a 2 year horizon, invested at a level I was happy with and I am confident of a return on my investment in the next 2 years. I don't trade in and out so short term pri e changes do not matter to me. If it drops back to 0.8 I will maybe buy more but more than happ to let this run.

Well there you have. No intention to bid. Be interesting to see what they offered but personally I am glad the DELT BOD stood their ground and didn't sell out on the cheap. I think my investment is in safe hands.

Let's get back to plan A. Appraise, farm out and drill the many highly prospective assets we have. Starting with Pensicola and Sellene.

555sss, do you honestly think that any 1 hole result would have such an impact on the overall Development they it would be stifled.

No chance

No matter your view on the IOG / DELT deal few could argue against an interesting week ahead.

Deal or no deal it is going to be interesting for both companies and shareholders.

Will we end up part of a significant UK gas player?

Mibees aye, Mibees naw

No matter your view on the IOG / DELT deal few could argue against an interesting week ahead.

Deal or no deal it is going to be interesting for both companies and shareholders.

Will we end up part of a significant UK gas player?

Mibees aye, Mibees naw.

Oil, I fully understand the reasoning behind taking some risk out of our positions when things change. Personally I don't see what has changed since I took my position to increase my level of risk so I will hold until Sellene is drilled.

I personal think no body in their right mind would value DELT below £28m.

I trust the board only to recommend an offer if it is fair. So if its fair happy days. If its not we drill Pensicola and Sellene.

Fair play Oil, each to there own but selling down at this stage having held from 1.8p back to today's price makes no sense to me.

I assume you bought in for the exploration play and nothing has changed in that regard.

We all have to make our own decisions. I will hold, if IOG offer big happy days. If not, let's go explore Pensicola and Sellene with Shell.

Price and PIs are being manipulated. Its obvious.

Whatever the offer is, acceptable or not, it will be North of todays price.

IOG need more resources in the SNS and DELT is by far their best option.

IOG know this, they will bid and their bid will be North of here. How far North is the QUESTION?

Definately all relative. Been looking to add CEY to my portfolio for a while and this has presented IMO the perfect opportunity.

Mick, I think CalEnergy / Berkshire Hathaway Energy will hope to get there share of the assets through a farm in with IOG Post takeover. There is an area of mutual interest agreement between IOG and Cal Energy however DELTs assets sit outside this area.

Having said that if IOG cannot make the deal work with their paper then maybe Cal Energy will step in, make a cash offer with IOG farming in to the assets later. The only issue with that is what would Cal Energy get in return? Must be more of the IOG core project or a substantial stake in IOG itself? IOG are between a rock and a hard place.

Regarding Shell, they know the value of Pensicola and Sellene very well. They will certainly be interested in these assets but I'm not sure if expansion into our other assets is on the cards.

There may be other interested parties. IMO the most likely other bidder would be Ineos who are looking to extend the life of their Breagh Alpha platform.

How's it going to play out? Who knows

IMO fair value is 3p. However IOG are Constrained by their lowly MCAP and lack of cash.

Anyway if 1.8p is the lowest of lowball offers expected it is still 63% up from here.

Some I interesting posts on here and DELT board. Guess people want to take positions ahead of the bid.

Lol. MT1

Mike, let's assume a bid does come in. What price do you thi k it would be. Not SP valuation. How many millions do you think IOG will value DELT at?

Graham, copper is down 4.82% at the moment. Anyway let's agree on onwards and upwards.

Good to see a copper stock acting contrarian to the market.