Licence P2252 Pensacola - Site Survey Contractor

RNS Number : 5055Z

Deltic Energy PLC

24 May 2021

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 ("UK MAR") . With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

24 May 2021

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

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

Licence P2252 Pensacola Well - Site Survey Contractor

Deltic Energy Plc is pleased to announce that Shell U.K. Limited ("Shell" or the "Operator"), its Joint Venture Partner and Operator of Licence P2252, has appointed Fugro GB North Marine Limited to carry out geophysical and geotechnical site survey works over the Pensacola Prospect in preparation for the drilling of the Pensacola exploration well.

The site survey is expected to commence at the end of July 2021 and be completed in Q3 2021.

Graham Swindells, Chief Executive of Deltic Energy, commented:

"The commissioning of the site survey is a key part of the well planning process and represents an important milestone as the Joint Venture continues the preparatory works required in advance of the drilling of the high impact exploration well on the Pensacola prospect. We look forward to continuing to progress through the planning phase towards drilling in May 2022."

**ENDS**

For further information please contact the following:

Deltic Energy Plc	Tel: [phone]
Graham Swindells / Andrew Nunn / Sarah McLeod
Allenby Capital Limited (Nominated Adviser & Joint Broker)	Tel: [phone]
David Hart / Alex Brearley (Corporate Finance)
Kelly Gardiner (Sales and Corporate Broking)
Stifel Nicolaus Europe Limited (Joint Broker)	Tel: [phone]
Callum Stewart / Simon Mensley / Ashton Clanfield
Vigo Consulting (IR Adviser)	Tel: [phone]
Patrick d'Ancona / Chris McMahon / Simon Woods

About Deltic Energy Plc

Deltic Energy plc (DELT.L) is an AIM-quoted natural resources investing company focused on high impact natural gas and oil exploration within the well-established basins of the UK Continental Shelf (UKCS). Led by a small group of highly experienced industry professionals, the Company is set on unlocking hydrocarbon opportunities that will help fuel the energy transition and that align with the UK's goal of achieving Net Zero by 2050.

Deltic's current portfolio spans the Southern and Central North Sea basins and boasts a significant gross P50 prospective resource base of approximately 480 million barrels of oil equivalent (mmboe) across 13 licences containing multiple identified prospects. This unique conveyer belt of opportunities offers exposure to high quality, low risk, low cost projects at various stages of maturity, ranging from the drill-ready Deltic-Shell JV prospects of Pensacola and Selene to the farm-out ready prospects of Cupertino, Cadence, Cortez and Dewar. Deltic's portfolio of prospects was further enhanced in 2020 with the award of an additional six licences by the UK Oil and Gas Authority (OGA) in the 32^nd Offshore Licensing Round.

Detailed information on the Company and progress to date can be accessed on the website  www.delticenergy.com.

 

END

 

 

MSCLFLLLFELZBBL