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More buys than sells, imo/ dyor
Bubble the obvious answer in regards to funds is to drop another 15% of equity in Pensacola potentially valued at 2p per share (I think stifel valued DELTs share at 4p per share) that would retain equity for upside in the appraisal but relinquish any concerns RE cash. This is the direction I expect the board to take and I hope it’s a possibility.
Ø Materially scale back all exploration spend outside Egypt and monetise, farm-down or exit all other exploration positions. A process has commenced for a potential sale of our UK assets
Wonder who our partners will be. Really hope it’s Kistos.
https://news.sky.com/story/amp/uk-energy-firms-reassess-security-of-north-sea-oil-and-gas-infrastructure-after-nord-stream-leaks-12707648
A little about licensing in there too.
Dr P. Take a look into one dyas, I’m questioning how long it will be till they show their hand.
We found out a month or two before the drill that they’d taken 5% off shell of pensacola. Look at the location to their Darach and crosgan assets, they also own 30% of Breagh. I can’t see them hanging around for 5%. IMO it’s a matter of time before we see offers from them. Be that an asset swap or part/full monetisation of pensacola. Interesting times.