Member Info for NoelShempsky

Thanks DrP, you are right.

I have just looked again at the video and, at 6m 30s, that statement about Pensacola - "Discovery is valued at 6 pence per share net to Deltic" - comes with an asterisk, and at the bottom of the screen in tiny lettering it says "Average pence per share based on unrisked valuations by Atifel, Canacord and Allenby using 72 - 75p p\therm".

"The Case For Gold Is Looking Stronger"

https://www.zerohedge.com/markets/case-gold-looking-stronger

Imagine it - RNS - "Special dividend" - and Snoop never posts again.

Oh, but I forgot, it's a duster so they never will monetise it. Joking.

I was a bit hasty in rushing that out. I haven't looked up drilling costs and then done the arithmetic.

Any views on the chances of them paying a dividend when \ if they monetise Pensacola?

They said Pensaocla was worth 6p per share. I would like to think that half the proceeds would be enough to fund the drilling on Selene and the rest is paid out - they pay us a dividend of 3p per share.

I recall Polo Resources. The shares were 3p. They sold an asset and paid a dividend of 3p per share.

https://www.investegate.co.uk/CompData.aspx?code=FCS&tab=announcements&limit=-1

According to this list - there was no announcement on 31 Mar 2022, nor on 31 Mar 2021, nor on 31 Mar 2019, nor on 31 Mar 2018.

On 31 Mar 2020, they did put out a Trading Statement.

31st March seems to be the exception rather than the rule,

"I thought an rns would have been released this morning giving shareholders an explanation what’s going on" - why? If Capricorn hasn't said anything to DELT, then there is nothing to say. They don't know anything more than what was said in Capricorn's RNS last week and they aren't going issue an RNS with mere speculation.

As I have said several times - they release news when there is news to be released.

And why this morning? If you are referring to the Capricorn statement - the RNS from Capricorn came out last week, so why would DELT have anything to say THIS morning?

In the video, one of the questions put to the panel was about the risk from a Labour government.

I make no political opinion about Labour or any other party, my post is purely about the relevance to DELT -

From Energy Voice -

Miliband: ‘We’re going to carry on using North Sea oil under Labour’

Shadow climate secretary Ed Milliband has admitted the UK will continue using North Sea oil and gas for “a long time to come”, including under a Labour government.

But the staunch critic of the sector said, despite this, he would implement a heavier windfall tax on the industry.

Meanwhile industry body Offshore Energies UK (OEUK) accuses Labour of “misrepresenting” the global profits of energy companies, and how much tax could actually be levied in the UK against overseas earnings.

It comes as Shell reports record earnings today – though just five percent of that comes via the UK.

Currently, firms are taxed at a 75% headline rate in the UK, leading to warnings over investment going overseas in light of the levy, which also threatens the industry’s ability to use free cash flow for renewables.

Appearing on the BBC’s Today programme, presenter Nick Robinson said to Miliband: “We will be using oil and gas in this country, not just for years to come, but arguably for many decades to come, and it doesn’t save the planet if what we do is use oil and gas from Russia, from the Gulf States, from Saudi and elsewhere, rather than take it from the North Sea.”

... there is more, including a mention of this from Starmer - "No new investment in North Sea oil and gas under Labour, Starmer confirms"

https://www.energyvoice.com/oilandgas/north-sea/480196/ed-miliband-labour-north-sea-oil/

"farm down, monetise or exit exploration concessions outside Egypt" - so does that mean the possibility of a "farm down" on it's North Sea assets, i.e. still having an interest but a reduced interest?

This is on Capricorn's web site - "primarily on Egypt" not "exclusively" on Egypt. If you know of a more recent annoucnement then please post link.

"23 Mar 2023

Cost base update

As announced on 1st February, the new Board has now commenced its comprehensive strategic review of Capricorn's business and the several potential directions for the future of the Company. Ahead of announcing the initial results of this strategic review on 27 April, Capricorn today provides an update on decisions which have been made about the Company’s exploration portfolio and cost base.

In the earliest days of the strategic review, the Board concluded Capricorn’s near-term strategic focus should be primarily on Egypt, and to farm down, monetise or exit exploration concessions outside Egypt. As a result, Capricorn will need a substantially reduced headcount in the UK and will therefore shortly enter a redundancy consultation process which is expected to result in an organisation of less than 40 people in the UK. Capricorn anticipates the majority of these changes will be made in the coming two months.

As a result of the reduced headcount, the Company will be reviewing its UK office space requirements to align to the expected size of the renewed organisation.

A further update with more quantitative and qualitative detail on costs will be provided on 27 April, as part of the wider strategic review update.

Download PDF"

https://www.capricornenergy.com/news-media/news/2023/cost-base-update/

They talk about it in the video - a meeting will be held later.

This is on the Capricorn web site - "At our full year results in April, the Board will provide an update on the strategic review of our assets, cost base and future strategy of the business. We continue to focus on optimising our operations to identify a path forward in the interest of enhancing shareholder value and returns."

https://www.capricornenergy.com/news-media/news/2023/operational-trading-and-business-update/

I took only a quick look and might have missed a more recent announcement so please check for yourself.

"Not sure DELT can take full advantage of that Tax relief, unless making good profits.." - see the video at 44m 24s - Deltic benefits greatly.

Take a look at 22m 20s.

That "Illustrative Value" comes with an asterisk - please see it for yourself. I'm just posting highlights for anyone who doesn't have time to watch it all but of course you should always DYOR.

At 17m 28s - Selene -

"Economic metric" - "P/Share at 75p per therm (Unrisked)"

"Illustrative Value" - 11.6p

At 15m 45s - we are now looking at crystalising the value.

"At 1.5p I'll be buying more." - but it might not drop even that far.

Just wait unit they monetise that 6p per share. On seeing the falling channel, I was thinking of waiting for about 1.2p or even 1p before buying more, but now I'm not waiting for it drop that far.

At 1.5p I'll be buying more.

6p per chare - "Identify. Explore. Monetise. Repeat."

Thanks Ripley94 -

In the video - at 6m 30s - about Pensacola - "Discovery is valued at 6 pence per share net to Deltic"