Member Info for oilriches

Gets the T/O they are getting some big assets https://www.oedigital.com/news/481624-iog-ponders-deltic-energy-takeover-bid

Let’s see the offer first. 2p too cheap which is £28m cap but over £12m is cash, hence only an EV of £16m. 3p is £42m cap, minus existing cash is £30m which is cheap but gets interesting.

3p / 3.5p they can have them

Check the comments around 13min. They want to use the existing feed into bacton for Delt assets https://www.proactiveinvestors.co.uk/companies/news/913061/independent-oil--gas-ceo-andrew-hockey-at--proactive-s-oil-capital-conference-913061.html

There is no worries in delt at these levels. Should see an rns tomorrow

Just say a deal is put down at 2.5p to 3.5p. Do u see this as a result? You still get to see the upside if you hold the shares in IOG. I.e say we get taken out at 3p. The shares in IOG could double in 12 months giving u the equivalent of 6p. It’s not all bad.

The options are not in the money. This is all down to the offer price. Not many companies on aim allow you to make money long term but deltic does tbh.

J G Cluff1 2,000,000 6,000,000 10,648,709 G C Swindells - 9,000,000 2,200,000 7,454,096 AJNunn - 8,200,000 3,000,000 7,454,096
1 Resigned on 22 May 2019.
Options
granted
in period
20,000,000
20,000,000
Options exercised in period
-
-
(10,648,709) -
-
-
-
-
-
-
-
Options held at 31 December 2019
2,000,000 6,000,000 - 20,000,000 9,000,000 2,200,000 7,454,096 20,000,000 8,200,000 3,000,000 7,454,096
Exercise
price (p)
8.0 3.75 1.325 1.75 2.32 3.75 1.325 1.75 2.32 3.88 1.325
Exercisable
from
23 January 2014 30 April 2015 10 June 2017
8 July 2022 07 June 2019 30 April 2015 10 June 2017
8 July 2022 07 June 2019 6 Sept 2015 10 June 2017
Exercisable
to
23 January 2023 30 April 2024 10 June 2026
8 July 2029 07 June 2028 30 April 2024 10 June 2026
8 July 2029 07 June 2028 22 May 2024 10 June 2026

I obviously want more of an offer but let’s be honest, we was in the 0.8s a week ago.

I hope they do mike. If the offer comes tomorrow it will probably be 2.5p. 3p I believe would win it as it’s 95% upside to close Friday. Nobody will make a loss as it’s going to be a transfer of stock to IOG. There could be an argument that deltic is better insulated in this environment with producing assets.

Fair dealer to be honest I would rather deltic do it alone as we have massive upside from here. Deltic are a hot potato and if this t/o happens or not it’s out of our control. Unfortunately I only got 10m shares and had planned more but the sp got away as 0.85 was my highest buy price. Tomorrow is going to be very active here and I won’t be selling unless the sp goes crazy...I.e 3.5p +

I hope u are correct but the board are not interested in mine or any other averages. IOG are not going to value delt more than them. They will be in an rto position then and that’s not going to happen as IOG seems undervalued itself

All share offer. Not really experienced with all share offers. What happens if either sp moves when a deal is agreed? Could we end up with more or less than the offer?

Fair dealer. Obviously 3p won’t be suitable for all but we are in a tough environment. No way they are going to offer much more than this as it will impact the upside to the IOG shareholders. The sp probably needs to motor tomorrow to put pressure on a 3p offer if they really want deltic

They need to offer 3p to get this away. Deltic might like the fact IOG have the elements of production assets

All cash offer u think?

On paper I have made some big money here. I didn’t expect this to move so quick and wanted to see the shell drills. If they offered 3p+ I would be supportive as it’s a +250% rise for me.

What price u thinking mike?

I hope so too mike. The sp could easily get out of control I.e 4-5p and IOG have to walk away. The issue then is the sp drift back

I remember a few years ago rock rose 20p and IOG rejected. Hopefully they understand that they need to pay a decent amount to get a deal