Member Info for Thunder2040

If Enquest has £60m capex to spare is Deltic's Selene not a perfect replacement prospect?

Some late price action today, I think the fact it's trading on 1/10th of it's true value has something to do with it

I mean for all the negatives I am just thankful some have thrown in the towel and left newer shareholders some meat on the carcass down at this price. I am invested on a premise that they will look to monetise this within 12 months via full sale of their interest in Selene and I think it will be to Dana or Shell. Just my take. But that's what I am here for and I think the odds are in my favour

Of which circa £2m cash

NPV net to Deltic of $61m includes effect of Deltic tax losses as confirmed with the company.

I've asked a question of IRs regarding tax losses, as unsure if the Deltic NPV included any loss utilisation. If it doesn't, the value of this to another north sea player such as Enquest with large losses would be significantly higher. I noted canacord included the Deltic tax losses in their 38p risked SP

Not entirely sure that is true, RBLs can be structured with a grace period, I agree that FID would probably be required though.

Fair dealer, I think this differe to the previous license in that it has commercial oil and will likely be developed to keep clipper going...therefore I think RBL or loan is entirely possible amongst other options. There will be no squeezing out here

I think the question is rather what price Deltic gets not if it can monetise. I would say there is plenty of scope to do a deal with the existing partners and expect that to follow fairly quickly

Some very bitter old shareholders on this board. At mcap net of cash of only £4m (6/7p range) and Selene being pushed ahead to FID by shell and being worth 50p a share net to Deltic...I think you will find this is a 4x or 5x bagger with ease once it's sold off, which it will be. Don't look a gift horse in the mouth. The drop was most probably a big seller and risk shell would not develop..both those have cleared.

On the call they didn't even know how much it would cost or anything. Just slipped it in halfway down a Q3 update. Then said nothing as the entire company goes up in flames. It's not right

I have to ask myself is this rational. And also why in earth has the board said nothing in reaction. It's beyond ridiculous

Sorry is that meant to add something to the topic? You only lose if you sell..and besides buying at this price is another matter. But thanks for your pearls of wisdom there

Shorts now in control until new year lol. What a complete idiot the CEO is

Mess ups*

Jxp peer review internally wouldn't address them getting sued would it. Also KPMG can't afford any more messages uls with UK license. So fine your view but we will remain apart on that for now. The only excuse for vagueness by ceo is probably not to prejudice the review..that is corporate governance related.

There has been a focus in the audit industry on encouraging joint or collaborative audit/peer review my multiple firms. KPMG are likely covering their behind with bringing Deloitte in as £1b or so impairment of goodwill leaves them open to scrutiny of why not picked up sooner. But from what they are saying the cash position isn't apparently the focus..and it would be madness from the board to reiterate guidance if they thought otherwise

Jxp a knee jerk reaction on such a recent buy smacks of lack of fur diligence but also of forced sale possibly due to investor mandate. Its only a theory but hardly worried about what they are doing other than it's provided a buying opportunity. On the call CEO coverage of the investigation was unacceptable that had also decimated confidence and he should walk for that IMO

Jxp are they mandated to sell if wood drops out of FTSE 250? Either way to buy then sell like that is madness in their part so should we really care

*maths