Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
I would like to think that if Shell are willing to give Deltic until 12th June to get a deal done, then the counterparty/parties must still be interested enough to have not walked away, but are still presumably keen to get a deal done. Otherwise why bother with an extension. Fingers crossed, but I think this looks promising.
Oh, and I noticed an advert for Shell during the half time interval of the England game tonight. In their advert they showed a North Sea gas platform, and mentioned the gas goes from it and into people homes, and it then showed someone cooking on their gas hob in their kitchen! Seemed to me that Shell are keen to show that they are still focused on North Sea gas!
Ekimp, it's not the end of May till midnight tonight, so I presume the RNS will be Monday morning?
I have been invested in Cluff/Deltic for 6 years. It's been a rocky ride for sure, but I have invested in a tiny company that has had to raise funds the best they could, and they have had to react when needed when things or partners have let them down. As things stand they are OK regarding Selene which looks very promising and is sitting below existing Shell pipelines to their Bacton gas terminal. So that gives me comfort. Pensacola would be a big loss, but I am hopeful that some kind of deal can be done. If not, then that's obviously more than disappointing! But Selene was always the main reason why Shell got involved back in 2019 and still looks very exciting, so even if the worst happens regarding Pensacola, all is most definitely not lost! Glass half full as ever!!!
I have a feeling in my water that there is more to this than we currently know. Although it has to be said that I am ever the optimist, time will tell if my eternal optimism is misplaced. I bl00dy hope not fingers crossed!!!
PS, I ain't exactly a knowledgeable poster ;-)
Gordon, Shell haven't given up on Pensacola, the problem is that Deltic have to find someone (or something) to fund the circa £15M Deltic need to pay their way towards the drilling costs! All very frustrating as the potential benefits to Deltic are probably 10x that amount. This situation and the RNS released earlier this week is obviously a big worry, but I am hoping it's Deltic's way of managing expectations in that if they can do any sort of deal then after that awful RNS we will be dancing in the aisles, as our expectations as shareholders have suddenly changed in a negative way.
Not the RNS we were all hoping for. I wonder if Mr Swindells will do an interview on Proactive today?
Just for info, updated presentation on their website released today. It's under "Investor Relations" then "Presentations"
Yeah Renndava, I also thought that was an interesting comment from GS. But it doesn't surprise me that Shell have a higher GCOS for Selene, as Deltic never seem to deliberately over exaggerate their assets, which I think shows them in a good light and in my view trustworthy. So I agree with you Dr P, what's not to like!
I also agree on this. Selene isn't yet a discovery so potentially more of a risk compared to Pensacola, so any deal for Selene would have to be pretty generous to the other party to persuade them to take the risk, plus funding for Selene is a touch more urgent than for Pensacola. So when it comes to an actual Discovery like Pensacola, I would expect Deltic should be able to strike an even better deal
With regards to our CEO, the latest presentation reads as follows...
'Graham joined Deltic as Chief Financial Officer in 2013 and became Chief
Executive in 2018. He previously worked in corporate finance and M&A,
specialising in advising mid and small-cap public companies. Before joining
Deltic, he was a Director in Corporate Finance at Ernst & Young. Previously, he
was a Director in Corporate Finance at Arbuthnot Securities where he gained
significant natural resources experience acting as nominated adviser and
broker. He qualified as a Chartered Accountant in Scotland working for BDO
and subsequently PwC.'
Seems a pretty decent CV as far as negotiating a good/sensible deal is concerned. Let's hope he can pull it off.
I will have 60p / 18p on the day.
Deltic are not exactly renowned for getting over excited and constantly making exaggerated claims with their statements, or rushing out RNS information for the sake of it. So for Deltic to state the following in today's RNS is very encouraging...
"Deltic continues to work on a number of potential options to both realise value and mitigate exposure to future drilling expenditure on both Pensacola and Selene and has received a significant level of interest. Deltic is continuing to engage with a number of different counterparties in relation to a range of potential transactions on both of these assets"
I obviously could be proved wrong, but going by today's announcement it really does seem that the chances of another placing are now looking much more unlikely.
Yep, agree with all that's been said. Whether your views are sceptical or always rose tinted like mine, we all want the same thing and for Deltic to be successful. Let's hope the good times are finally coming in 2024. Happy Christmas all :-)
My apologies cookoo, using the word "mug" really wasn't my finest hour. I haven't held these shares as long as you, but I have been in here for over 5 years which is still a long time. I think from what you have previously mentioned that you paid £2000 at about 95p, so you will be sitting on about a £1500 loss I guess. I have never mentioned my holding and would rather not say how much I am down, but it's a lot more than that. So I do get your frustrations, which must be exacerbated with your health issues, to which I do genuinely wish you all the best. If you really are totally convinced that these shares will fail then surely if makes no sense keeping them, which was the point I was clumsily trying to make. So I do tend to agree with Dr P's comment that I think that deep down you must believe Deltic can come good. Let's hope it does for you and all other shareholders.
i genuinely trust that deltic are working on getting the best deal that they can. i will possibly be accused of wearing rose tinted glasses but that's what i believe. if anyone thinks otherwise that's fine, but if you don't think deltic will get a monetisation deal then why continue to hold shares you think are going to go down in value. if you don't believe in deltic then sell up and move on. because what is the point in holding shares in a company you are constantly ******* off. if you think so little of deltic then cut your losses now before the share price is 0 pence and get some money back while you can. bored of all the negatively, if you think this share is doomed you must be a mug to keep your shares.
The wait for good news sure is very frustrating. All we can do is wait, trust the process, and keep our fingers crossed for a good monetisation deal with the resulting financial security that comes with it finally taking the shackles off of the shareprice. But yeah, it sure is frustrating every morning waiting in vain for that elusive red dot. I still believe it will happen, I just hope it happens soon. Tomorrow would be nice ;-)
Just had a look at that link, thanks Dr P. Hopefully some news regarding this soon, although I do agree that this will be more jam tomorrow, which would obviously be good, but yep, what we really need now is some positive monetisation news
Cookoo, Deltic has come on a very long way since it's Cluff Natural Resources era. We need to look at the situation today and focus forward... Two fantastic joint ventures with a serious player in Shell, with visable evidence that SHELL (not Mickey Mouse enterprises) is working towards taking them both into production! Think about that for a moment... That's simply incredible! If either joint venture is successful (and they both look good), then irrespective of how funding occurs (a placing not being the stated preferred method, but still a possibility), then ALL current shareholders will be quids in. It could go down further, but one day people will look back at the current share price with amazement!