RE: Share price3 Sep 2023 16:22
Let's have some realism about the DELT sp.
Selene is too far away into the future to lift the share price, so I need not say any more about Selene.
Will an announcement about winning new licences lift the sp?
As you know I have expressed my opinion that there is a chance that Sunak will backtrack and there will be no new licences. I base that opinion on the powerful green lobby being very infuential and on Sunak's track record of broken promises.
However, it is just an opinion. I might be wrong and I have always said that I could be wrong, see my posts.
So, let's assume that DELT wins new licences. I expect there will be the usual spike that we get whenever there is news, then, in the following days, it will slowly fizzle out.
Don't forget that DELT announced that they have discovered the biggest gas field discovered in the North Sea in the last ten years - and the sp has gone down.
If the biggest gas field can't lift the sp, then new licences, which are good for the longer term not the short term, won't do much good.
The only hope we've got is the monetisation of Pensacola, but see my post earlier today- "Oil production has slumped to a record low as the UK industry’s future hangs in the balance."
I'm going to assume that the sentiments affecting NS oil are also affecting NS gas - so does anyone want Pensacola?
I have tried to present a fair-minded view of the prospects. Don't forget folks, I am still a holder of DELT. I recently sold some because I believe the sp is going lower, but I kept some in case they do manage to monetise Pensacola.
I am a shareholder and I want to sp to go up, but just because want it doesn't mean it will happen. I believe the odds are on it going down.
This week will be interesting.