Member Info for NoQuestionMarks

A 13 4% dividend uplift is most welcome.
I'm getting steady capital growth and a 5 5% dividend
Very happy with progress in 2022.

idkmybffjill
financial year ended 31st Dec 2022 and although the date of final results hasn't been released yet last years were released on the 7th of April, so I'd expect them to be around that date

Basically nothing as far as I know,
2022 was quite a year for Capricorn energy as they are now.
First they announced a merger with Tullow Oil (TLW). Shareholders of Capricorn thought we were getting a poor deal and the board subsequently pulled out.
They then announced a merger with NewMed (Israeli gas company) which shareholders thought was even worse. An activist investor forced the removal of the board. A new board has just been put in place and decided to pull out of the NewMed merger on the 15th of February 2023.
The interim CEO Chris Cox, is a 'gas man' (BG Group, Centrica and Spirit Energy) and they have oodles of cash on the balance sheet.
Full year results are out 27th of April

The operations map has been updated to include the greater laggan area assets.
Every little helps.

Thanks for the informative post Exploration,
I agree Selene looks very promising and of course we own a 50% interest and Shell front 75% of the first $25m of well costs

Deltic's strategy is to Identify, Explore and Appraise, Monetise, Repeat.
They were keen to emphasise in the Pensacola discovery RNS that they were open to monetising some or all of their 30%.
I think Deltic's ideal scenario is playing out fairly well (no pun intended)
With Pensacola we can't fault them on the identify element, Shell does not farm in with too many small players unless they see big potential.
I think Deltic would love to offload 20% in return for enough cash to fund their share Selene and the Appraisal of Pensacola as well as a chunk of change in the bank.
The horizontal appraisal well at Pensacola is going to be expensive, much more expensive than the exploration well.
Drilling horizontally through Dolomite is going to be an expensive drill IMHO.
However, Just taking the P90 figure of 164BCF for Pensacola, our share is 49.2BCF or around 492m therms.
At 80p per therm that's nearly £400m worth of Gas we have to bargain with.

For licencing news it is worth keeping an eye on the nsta website, there was an update on the CCS licencing round that might be of interest.
https://www.nstauthority.co.uk/news-publications/news/

What really gets my goat is that we are doing all that has been asked of us, much more in fact.

The north sea transition deal told us what we had to do:
"Set against a 2018 baseline, subject to joint government and industry actions, the Deal’s new early targets correspond to an absolute reduction in production emissions of 10% in 2025, 25% in 2027, and 50% in 2030 on the pathway to net-zero by 2050."

Yesterday we report that we have exceeded the demands:
"We have now reduced our UK emissions by c.40% from the 2018 benchmark, significantly ahead of the UK's North Sea Transition Deal targets. Additionally, we have made progress in advancing our new energy and decarbonisation ambitions at the Sullom Voe Terminal. We have also cemented our position as a leading decommissioning partner, delivering one of the most productive campaigns seen in the UK North Sea by decommissioning 24 wells at Heather and Thistle last year. "

Where is our reward?

Thanks very much for posting this Dumbly,
From page 77.
Finally, the factsheet noted that the Government would “be consulting stakeholders over the coming months as part of a review of the UK’s long term tax treatment of the North Sea after the Energy Profits Levy ceases to ensure the regime delivers predictability and certainty, supporting investment, jobs and country’s energy security”, and that this review would
“report by the end of 2023.

Unbelievable! supporting investment, jobs and energy security....
I do hope all stakeholders are pushing back against this populist tax grab with vigour.

https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4241431&lang=en-GB&companycode=uk-cne&v=

Positive news for Deltic IMO.
Capricorn will remain cash.
However, with the UK's punitive tax regime will they spend it here?
Year End results are out on the 27 April 2023 where we may learn more and a Trading Update ahead of those results will be issued shortly.

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Interesting video from 1st subsurface just out today.
A fair estimation of the results to date I would say,
https://www.youtube.com/watch?v=_ylHgho491I

BB,
Logically you would think that ONE-Dyas would want to up their 5%. And, as they have an interest in Breagh you would think that Shell would want them on board, assuming export via Breagh most likely.
I suppose it comes down to whether DELT wants to build a real E and P company or not

I would gladly swap 25% of our interest in pensacola with ONE-Dyas or Shell for.
1. A free carry through appraisal and hopefully to first gas at Pensacola.
2. A percentage interest in a producing asset.
That way we'd be generating income to pay our way for Selene, the Capricorn licences, and any new licences we pick up in the licencing round.
And, we'd still hold a 5% interest in a potential monster

Yes please.
I bought these at under 1p after the farm out.
Then sold at 3p pre drill.
Very happy to get back in after a successful drill at 2.67p
I'll add plenty more if this madness continues
Flow rates were as expected.
The well was a success.
The presence of gas and quantity in place was confirmed.
You sell, I'll buy.

Good spot ALXG,
Clear headroom between Jet2 and TUI on number of authorised passengers on their licence.
Looking good.
Jet2 5.9m
TUI 5.3m
OnTheBeach 1.9m
WeLoveHolidays 1.9m
Booking.com 1.7m
Easyjet holidays 1.3m
British airways holidays 800,000
Expedia 600,000

They are bad unfortunately.
Proforma production for the six months to the end of June 2022 was 12.4 kboe/d, 6.1 kboe/d from Q10-A and 6.3 kbe/d from GLA.
Pro-forma production for the full year to 31/12/22 was 10,700 boe/d from the Greater Laggan Area (GLA) and Q10-A.

I make that net production of around 8000 boepd for November.
4700boepd from GLA and 3300boepd from Q10-A

Though I'd share as I was having a look at our latest production figures.
Edradour: 1.6MMscf/d
Glenlivet: 60MMscf/d
Laggan: 54MMscf/d
Tormore: 17MMscf/d
Q10-A: 30.785.535Nm3 (which I think equals around 36MMscf/d or 6200boepd)

Up over 30% year to date....
What more do you want EC?
If results are as expected I would think we'll see £14+ by year end

The brakes are most definitely off now.
And to think, I thought buying at £6 was a bit risky!

NKOTB,
BP has plenty of superb assets that I hope we can get our hands on at favourable valuations.
I am simply looking for further rationale for the Tailwind transaction, picking up the rest of the hub is the only one that strikes me as mildly positive.

I forgot to list Bittern as the other Triton hub asset that we could acquire from KNOC and Waldorf.
We would then own 100% of the licences and 100% of the FPSO.
It doesn't make the deal 'a good one' but it would make more sense if we were to proceed with mopping up the Triton assets
https://www.offshore-technology.com/marketdata/bittern-conventional-oil-field-uk/