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Deltic Energy Plc's Joint Venture on Licence P2252 finalised a positive well investment decision and approved the 2024 work programme and budget, scheduling the Pensacola appraisal well for drilling in late 2024. Separately, Shell U.K. Ltd informed Deltic that geotechnical site investigation works for the Selene exploration well on Licence P2437 were successfully completed, with drilling remaining on track for Q3 2024.
| Date | 18 Dec 2023 |
| Time | 07:00:08 |
| Category | Corporate updates |
| ID | 0643X |
Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources
18 December 2023
Deltic Energy Plc ("Deltic" or the "Company")
Pensacola and Selene Update
Deltic Energy Plc, the AIM-quoted natural resources investing company with a high impact exploration, appraisal and development portfolio focused on the Southern North Sea ("SNS"), is pleased to provide a further update on progress on Pensacola and Selene.
Pensacola
The JV has now finalised the positive well investment decision on Licence P2252 and approved the 2024 work programme and budget that allows for drilling the Pensacola appraisal well in late 2024.
Selene
Shell U.K. Ltd, the Operator of Licence P2437, has informed Deltic that the geotechnical site investigation works on the preferred surface location of the Selene exploration well has been successfully completed and the vessel has been de-mobilised from site. The results of this work will be incorporated into the operational drilling plan. The well remains on track to be drilled in Q3 of 2024.
**ENDS**
For further information please contact the following:
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Deltic Energy Plc |
Tel: +44 (0) 20 7887 2630 |
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Graham Swindells / Andrew Nunn / Sarah McLeod |
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Allenby Capital Limited (Nominated Adviser) |
Tel: +44 (0) 20 3328 5656 |
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David Hart / Alex Brearley (Corporate Finance) |
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Stifel Nicolaus Europe Limited (Joint Broker) |
Tel: +44 (0) 20 7710 7600 |
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Callum Stewart / Simon Mensley / Ashton Clanfield |
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Canaccord Genuity Limited (Joint Broker) Adam James
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Tel: +44 (0) 20 7523 8000 |
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Vigo Consulting (IR Adviser) |
Tel: +44 (0) 20 7390 0230 |
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Patrick d'Ancona / Finlay Thomson / Kendall Hill |
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