Member Info for Rubey

Masterbaker, they're confirming their current shareholding as all shareholders holding 1% and above are required to, because of RBD's interest in DELT.

It would appear so GP.

Realist! Hahahahahahaha

Persimmon, you are funny. An idiot like Jim....but funny.

So do you believe everything oil man Jim says Lucky?
I believe the last figure was £184k salary, £96k in share based payments, and £9k pension, each.

I'm keeping an open mind until I know what the plan is.

It does seem DELT's value isn't going up any time soon, Snaffleman.

Thanks wasit. So the workover rig has been demobilized, and further downhole pressure measurement and sampling of reservoir fluids work starts within a week?

https://twitter.com/UKIDannyboy/status/1284019987196317697

Taken from UJO bb.

Thanks for your reply 'Exploration'.
For what it's worth a petroleum engineer used to do a lot of work for me, but his work had nothing whatsoever to do rock formation permeability. Are you sure you meant to say 'petroleum engineer'?
You stated:
'The historical development story of several gas discoveries in this area has been very much one of repeated technical and investment failure. '
Where in this area were these drills? A map would be helpful if it's convenient.
As I stated previously, Rathlin and their JV partners wouldn't go to the considerable expense of drilling WNB before completing the WNA-2 EWT unless they knew what they have at WNA-2 - in my opinion.

'Exploration', Rathlin clearly know what they have at WNA-2, having drilled and started testing. They and their JV partners wouldn't go to the considerable expense of drilling WNB before completing the WNA-2 EWT otherwise, don't you think?

You posted this on 30th June - 'Shell announced $22 billion of write down today - wonder is DELT's projects took a hit in the process.' Seems to me like RBD are taking the bigger risk by far.

EyesRight, to be honest I don't believe that if RBD takeover DELT, RBD automatically becomes an 'operator' as required by the OGA.

Indeed GP.
Shell could apply to the OGA to delay operations. I don't know if you saw this:

https://www.energyvoice.com/oilandgas/252911/shell-uk-boss-we-need-to-look-long-and-hard-at-our-choices/

I wonder. If RBD merge with DELT to form RBDD, the new company buys EOG's 30% of Wressle in a deal in which EOG take DELT's offshore licences (so they have cash and new licences to explore), and RBDD buys 25% of Wressle from EDR, EDR remain Wressle operator retaining 5% (so they have much-needed cash), RBDD then has steady revenue to fully explore the West Newton licence area (PEDL 183) including Spring Hills and Ellerby - what appear to be 2 further like-for-like prospects in the licence area. RBDD then sell their share of PEDL 183 to INEOS for £750m.
Just sunny Saturday afternoon musing....

One further comment about Europa, and potentially their 30% of Wressle. Don't forget, our Stephen Williams joined the Europa board a few months ago as an independent non-exec.
I think there are interesting times ahead.

Thanks GP. My understanding is that the OGA have to approve a company to be an operator, and this is a very complicated procedure. I can't see RBD would be remotely interested in it, and I would suggest all DELT's licences would be relinquished.
I have a feeling Shell are shelving DELT's 2 farmed out licences, so all DELT have is cash in the bank and prospects that are dead.
Maybe DELT shareholders will just sit it out for a few years and watch the BoD sit back and the share price drift away, but I suggest there are shareholders not prepared to watch this happen.

Thanks for responding isdeer. When Europa were going to sell 10% of Wressle to Upland, it was conditional on planning permission being granted, so in theory the position is the same as it was - The Wressle licence will be worth £15m to £20m in total in my opinion. I would be flabbergasted if Europa aren't looking to sell, but it's a buyers market.
Europa are primarily an exploration company, and I expect they will want to get back to spending money on exploration soon.
Egdon could do with a few bob, and I would think Wressle is also available to buy from them. But who would be operator, it can't be RBD or UJO. Which made me query who would be operator of DELT's licences.

Actually, thinking about the potential of RBD buying EDR's Wressle percentage leads me on to a question for anyone. If RBD takeover DELT, obviously Shell are operator of the Selene and Pensacola prospects, but who will be operator of DELT's other licences? It can't be RBD.

EOG have 30% of Wressle, and currently produce around 100bopd from their UK licences. Europa had a deal to sell 10% of Wressle to Upland for £1.85m a few years ago contingent upon planning approval, but it expired and wasn't renewed. Union Jack recently bought 12.5% of Wressle from Humber for £1.5m. Europa's market cap is £4.5m and they still hold 30% of Wressle.
I wonder if Reabold would be interested in buying 30% of Wressle?
Egdon also have 30%, plus a few more interesting prospects, and they have a market cap of £7.3m.
It seems there could be opportunities available. Maybe Deltic's cash could be put to better use in the short term?
The Wressle licence area has plenty of running room (great expression that).

“We’re absolutely looking at the projects in our business plan. Some we will just seek to reshape and make more competitive in a lower oil price world, a lower gas price world.

“Some we will defer until we have a clearer view of the outlook for oil prices, and some we will cancel, and there have been a few announcements on projects like our Lake Charles LNG plant.”

Have some of DELT's major shareholders got wind of something? Not a wind up - genuinely concerned.

Thanks GP. I think it was first mentioned by Rathlin. I wonder where they got it from?