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I don’t think for a minute that they needed to raise 15 million pounds when they did at what even then was a ridiculous share price to please Shell, no more than I believe they needed to hire a cfo in January
I am just going to have to wait and see but it’s far too late to sell at this stage
What we do know is the market is valuing all these assets at absolutely nothing and not one but 2 listed companies were prepared to walk away rather pay more than nothing for them
FWIW I feel right or wrong either offer would have been a better less risky outcome than waiting for Shell to commit
I real hope they do commit or you will understand exactly how I am feeling right now!!
MT
No problem and am not selling I have resigned myself to losing the lot
I invested prior to Shell prior to Algy leaving and prior to the destruction caused to the current and future share price by the outrageous placing in June 2019 raising 15 million pounds years before it being required
Deltic just keeps falling
Why is this one might ask the reason is simple complete lack of inactivity lack of any progress and growing concerns over the viability of the current strategy add to this two bids that have valued the company at cash and the assets at nothing
Come on deltic board support your shareholders
Draft
If we are lucky I am out this is an absolutely dreadful outfit imo
That placing was the final nail for me
The directors continue to disappoint me with their apparent inactivity
The bids for the company give you a good idea of what it’s worth and at this time the company isn’t being valued at little more than cash
It is high time for an update and show us something positive
It is all too slow
It’s become a nonsense imo
Shareholders wiped out by a massive placing
The company is only worth cash in bank and both bidders have happily walked away at that level refusing to overpay Times are changing with the rapid move to renewable energies but this lot haven’t woken up and smelt the coffee yet
All it needs now is for the well investment decision to be either cancelled or delayed and it will be at all time lows
The time a commercial well is drilled will be too late at the present rate of progress!!
Again my opinion
Never mind draft just get used to the idea that this is one useless outfit then you will feel much much better
Also console yourself in the knowledge that you are paying the directors very generous salaries out of that enormous placing for simply SITTING and watching our share price collapse from 1.75-less than a penny while news reports now point to wind becoming the new source of energy for the UK from the North Sea
But worry not they have a excellent track record of raising money it says it in the corporate presentation
Sorry for the sarcasm but have no expectations any longer
Ltd
It is the sheer arrogance that gets up my nose
These directors are not the ones sitting on losses they have huge salaries and share options
I am no expert I admit that, but what I do know is the landscape is changing extremely quickly and to rest on your laurels now is extremely risky and not in the interests of shareholders
It is okay for MR S and his cronies to continue to cream away shareholders funds and SIT but what about the shareholders?
If Shell pull the plug now god help us as it will be extremely messy
The companies main problem is it’s blinkered approach.Both RBD and IOG offered a merger not a takeover which would have spread the greater risk we all now face and have gained us some exposure to MORE advanced assets/infrastructure, whilst maintaining some interest in our own licenses.
Shell might never drill either licence, and even if they do it might not find commercial quantities or even take it into production, but the company continues to SIT and HOPE and fritter the cash pile on HUGE salaries and by progressing even more licenses that might never be drilled or nobody may want, which the market is valuing at almost nothing for a reason .TIME is running out NOT for the directors who continue to enjoy amazing salaries for what little they achieve but more for the shareholders who foot the bill and get nothing in return.
Gas is going to become a fuel of the past in relatively short order with huge investment in wind farms (READ THE NEWS)which will power the country and some
Wake up from your feathered nests Cluff Delta or whatever you call yourselves these days, the strategy needs rethinking before it’s too late!!!!!!
Why appoint a CFO????
Why change the company name ?
Why dilute shareholders into oblivion ?
Why NOT consider changing the strategy in the light of a fast changing world and become part of a bigger enterprise before its too late ?
I invested before I knew what type of company it was
They lost my respect the moment they raised 15 million pounds effectively wiping out long term shareholders
I also didn’t appreciate appointing a CFO in January
Plus lots of other questionable decisions