Member Info for Rot1

one interesting comment to note from the 6 monthly report is that deltic says it has £57m worth of tax credits, could another company buy deltic out and then use this £57m against there own tax liability ? if so then deltic look cheap, if not a fund raise looks to be on the cards, unless they sell selene, which has got to be worth multiples of the sp but as with pensacola will there be any takers with this shower of ****e that are running the country now.

That sell for 56572 was actually a buy (top up ) at 13.05p i've bailed this morning out of another oily, just didn't see the way forward in the UK North Sea anymore with these clowns in charge, but on balance my main worry here is the FIG going ahead with a hydrocarbon business but with the new licences issued that has alleviated them worries. Navotas seem to have got the bull by the horns going forward and either way we are quids in with OM award at absolute worst case scenario we could loose 50% due to the cash we have, and best case scenario ! well it's a ten bagger and with the ducks lining up i've backed the latter.

By them calcs roughly £60 m worth to Deltic, could sell it to Danna for £25m and move on to the next or pay a special dividend and fold the company.

It is very good news that Deltic has announced a discovery at the Selene well and whilst it is at the lower end of expectations it is a material discovery at 131 BCF and the second biggest find in recent years after Deltic’s previous success at Pensacola. Recent wells in the SNS have been targeting much less (ie Baker prospect where drilling is ongoing is only c. 60 BCF and the Earn prospect was only c. 80 BCF pre-drill) so this still ranks highly and Selene should be considered a material and highly commercial find in anyone’s book.

Perhaps more importantly the B-Sand reservoir quality is better than expected which is important and makes it 2/2 commercial discoveries. This gives Deltic enormous scope as post-well analysis continues and leaves the company with a number of options going forward.

The value of Selene will now increase as FID approaches and with 25% Deltic has a strong position to work with, don’t forget there should be no need for a further well before then. It may decide, should there be interest at a good price, to farm-down part of that interest to leave them with a decent residual stake and be carried to first gas.

As always CAPEX and OPEX are scaled in line with prospect size and reservoir quality, so with better B-Sand reservoir quality and recoverable resources concentrated in a smaller area, there will be a significantly simpler and potentially a more commercial development, for example instead of six wells being required it may be that just one or two would suffice.

Finally, with anything more than 100 BCF of gas being a commercial discovery it is worth looking at the state of Deltic who are well placed to have much more scope to do other deals using the Selene find as currency. The shares do not reflect such a success and therefore I can see a great deal of upside once upside visibility becomes clearer.

Malcy

Hope it's a full Moon (Selene) 🤩💰

Appears to be still on station at Selene, must have been or still testing. All looks good.

Wrong board ! please post on SENX board, nothing to do with Deltic

All the other share chat ? use the appropriate boards ffs, meanwhile back to Deltic and the realisation that this is seriously undervalued with good results hopefully about to be released, then monetisation to Shell or Danna. 30p to 40p sp would be good.

Aw come on Exploration, do you really believe this is worth £10m on success, we might as well pack up and go home now, Danna paid £25m for 25% with out a positive result, now the re organisation of the company is in progress, i agree we will and should sell Selene, but it will be at multiples of our Mkt Cap, and as you well know with modern techniques for horizontal drilling and fracking, 160 meters thick sandstone and gas all the way down, Deltic have been megga cautious with its looking promising statement. GLALTI

I genuinely don't get the small volume sells, you would of thought at the SPs lowest price it would be worth the gamble of holding till results of the drill are known, they have waited this long and the SP is worth 1/20th of what is was valued at, and 70% COS was posted 😳🤩then again WTFDIK

Dr,

Geology wise yes a good job, business wise criminal, no plan B for Pensacola, how do you commit to a drill with no funds / deals to proceed is beyond me should of waited till everything was in place, we are now around the same price as we where before consolidation and that was 20 to 1 if my memory is correct so 20 x value loss, unacceptable he had to go, but i agree they don't know the results of Selene, as the new CEO has stated Deltic could be on the verge of another major discovery and thats why i think Swindells has had to go, a new discovery a new reset for the company. i would buy more but i am all in already.

More like not having a plan B or plan C annoyed does not cover it.

And me Mogger

Getagrip, dont think One Dyas are involved in this one, 50% Shell 25 % us free carry 25% Dana of which they are paying up to £25m towards the drill in my book makeing

the value around £100 m and we are valued at £4.8m and thats been since the 6 monthly results, of which i didnt think where as bad as they could of been, and as for Labour and two tier Kier they will have to do a flip flop over the North Sea policy otherwise Britain is bankrupt.

Of under £5m and cash on the bank around £3m, the market has no value to whats a £100m drill and thats with out possible success, its got to be under valued at this sp, no one will know the results yet, but we must be getting near the pay zones, normally i would be getting excited but as most, can only dream of getting my money back, i still think Swindell has to go.

Sjm can you paste the article? cheers Rot

It wont be a duster, they know there is gas, its a matter of how much and quality of the sands

Add Rot1 to your list 521k held for years

As already described, they know there is gas so no duster ( god i hate that word) its just a matter of how much gas they can extract, they have new methods for producing from structures like this one, i dont think thats the main risk, its what they do with it, or should i say Shell do with it, but mkt cap £7m its a cheap share dont we still have £3 or £4m in the bank ? Good luck all genuine holders

Just had a little top up £2k couldnt resist at these prices, Mkt cap £7m and Dana paid £25m for 25%, no results for 4 weeks or so, still have no faith in the management though, Swindells has to go, but if a farm out with Syros and a good result with this drill, could be some decent profit.