REG - Deltic Energy PLC - Provisional Award of UKCS Licences

Deltic EnergyAnnouncement

03/05/2024 14:30

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RNS Number : 2346N  Deltic Energy PLC  03 May 2024

 

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

 

3 May 2024

 

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

Provisional Award of UKCS Licences - 33(rd) Offshore Licensing Round

 

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, is pleased to announce that it has been provisionally
awarded two licences over eight blocks and part blocks by the North Sea
Transition Authority ("NSTA") in Tranche 3 of the UK's 33(rd) Offshore
Licensing Round ("33(rd) Round").

 

The blocks provisionally awarded to the Company in Tranche 3 are as follows:

 

 REGION  SUB-AREA    BLOCKS
 SNS     Blackadder  47/5b, 47/10c, 48/6c
         NE SNS      43/2b, 43/3b, 43/4b, 43/9, 43/14

 

All blocks are being provisionally awarded to the Company on a 100% equity
position and contain a mixture of small discoveries and low risk,
infrastructure led exploration prospects in the Southern North Sea Gas Basin.

 

In light of the current fiscal and political environment, Deltic will
carefully consider whether accepting further licences in the UK is in the best
interest of the business and its shareholders.

 

The Company will update the market in due course.

 

 

Graham Swindells, CEO of Deltic, commented:

 

"These further Tranche 3 provisional awards further demonstrate the ability of
the Deltic team to identify and acquire valuable exploration and appraisal
acreage within the UKCS. We will now assess each of the provisional awards and
carefully consider which, if any, of these awards the Company will accept."

**ENDS**

 

For further information please contact the following:

 

 Deltic Energy Plc                                                              Tel: +44 (0) 20 7887 2630

 Graham Swindells / Andrew Nunn / Sarah McLeod

 Allenby Capital Limited (Nominated Adviser)                                    Tel: +44 (0) 20 3328 5656
 David Hart / Alex Brearley (Corporate Finance)

 Stifel Nicolaus Europe Limited (Joint Broker)                                  Tel: +44 (0) 20 7710 7600

 Callum Stewart / Simon Mensley / Ashton Clanfield

 Canaccord Genuity Limited (Joint Broker)                                       Tel: +44 (0) 20 7523 8000

 Adam James / Ana Ercegovic

 Vigo Consulting (IR Adviser)                                                   Tel: +44 (0) 20 7390 0230

 Patrick d'Ancona / Finlay Thomson / Kendall Hill

 

 

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