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Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources

30 September 2022

Deltic Energy Plc ("Deltic" or "the Company")

Result of General Meeting and Total Voting Rights

Deltic Energy Plc, the AIM-quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, announces the results of the voting on the resolutions put to its General Meeting held earlier today. All resolutions put to shareholders at the meeting were successfully passed.

The Company is pleased to confirm that as a result of obtaining shareholder approval for the Placing, Subscription and Open Offer, which comprised a significantly oversubscribed Placing and Subscription and an Open Offer, Deltic has raised a total of £15.96 million. 

The net proceeds of the Fundraising will be used to fund Deltic's share of the Selene well, including contingency mandated by the Company's regulator, the NSTA, fund further investment in Deltic's existing licence portfolio, enable further investment in the UK's upcoming 33rd Offshore Licensing Round, and fund transaction costs, working capital and general corporate costs through to mid-2024.

   Total Voting Rights

The Company has applied for admission of the New Ordinary Shares pursuant to the Fundraising to trading on AIM. Admission will occur at 8.00 a.m. on Monday 3 October 2022. On Admission, the Company will have 1,861,931,992 Ordinary Shares in issue and there are no shares held in treasury. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

   Capitalised terms in this announcement shall have the same meaning as in the announcement made by the Company on 12 September 2022 unless the context requires otherwise.

**ENDS**

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About Deltic Energy Plc

Deltic has created a strategically located portfolio of high-quality gas exploration licences in the Southern North Sea over a number of licensing rounds.  These licences are located in areas that have been underexplored despite significant discoveries such as Tolmount, Breagh, Pegasus and Cygnus, most of which have gone on to be developed and could provide ready access to export infrastructure for any future developments on Deltic's licence acreage.