Member Info for oilriches

Think this is due a correction here

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Thanks green wolf. These t/o forms could soon confuse me.

Thanks j1sof

Out of all the M&A in oil and gas.....this deal is a perfect fit. Question is will the offer materialise next week.

Major Thomas. What do the 8.5 form do?

IOG current assets are just too small to organically grow. If Delt are not too greedy a deal should be announced next week.

Mike I think Cal is behind this deal.

They are development scenarios. I suspect both pipeline could be used if they needed capacity. I don’t think shell will come in here but who knows

Personally this deal makes perfect sense to merge. The cash flow from the IOG assets from 2021 can fund the deltic PF and utilise the other 45% capacity with the Thames pipeline. Selene would be a cheap development for IOG.....This could be a big growth story for both partners.

I think IOG have been looking at DELT for some time and suspect the Selene update last month with Shell have made this very compelling I.e 70% GCOS and the 50% prospective reserves upgrade that’s bigger than the whole IOG portfolio. Guess what 2022 drilling fits in with the schedule for IOG to tie into the Thames pipeline and makes any development picture very cheap from a capex prospective. This is making sense and Delt will see the synergy. Listen to 24min onwards on the attached https://www.proactiveinvestors.com.au/companies/news/913061/independent-oil--gas-ceo-andrew-hockey-at--proactive-s-oil-capital-conference-913061.html

Michael Spencer billionaire and link to Delt https://www.thisismoney.co.uk/money/markets/article-7902907/Tory-billionaire-Michael-Spencer-punts-75m-bet-City-firms.html

Draft agree but sometimes you have to be disciplined in keeping so much in cash. I have multiplied my pot of money by 500% this year and have to stick with what works.

That’s traders mike. I took £8.5k off the table Friday to maintain cash in my trading account and it was an easy 45% profit. Still hold 10m and will keep them to see what happens with the T/O or shell drill commitment. I don’t think 2p is long away.

Let’s be clear that the proven reserves IOG have is very very small....they might throw off cash in the next few years but strategically they are stuffed to organically grow the business. That’s were Delt come into it with circa 5billion tbf of prospective Resources. Selene alone (our 50%) is many time bigger than all the IOG reserves be it has a 70% chance of success and a partner such as shell. Retail need to smell the coffee and realise Delt are holding the pontoon in any deal. We are fully funded for our well commitments.

U are one of the few that’s savy on Delt. Thoughts on next weeks action?

Mike they never plan to develop. Licence, firm up prospects, carry and monetise.....it’s as simple as that.

DJG - who are you referring to specifically? Personally I can leave the show whenever I please after buying 3 weeks ago. Would be nice to hear something on this proposal for T/O to give some stability and direction to the SP. that being said royal Dutch shell need to commit to a well decision within the next 8 weeks.

A bid is coming....my calcs were 2.5p looking at the Nav of both companies to get a fair price...will Delt accept? I don’t know

Was expecting plenty of buying as discussion if obviously progressive here on t/o