Deltic
Energy Plc / Index: AIM / Epic: DELT / Sector: Natural
Resources
5 February 2024
Deltic
Energy Plc ("Deltic" or "the Company")
Licence
P2437 (Selene) & P2252 (Pensacola) - Confirmation of Rig
Contract
Deltic Energy Plc, the AIM-quoted
natural resources investing company with a high impact exploration
and appraisal portfolio focused on the Southern North Sea
is pleased to announce that Shell UK Ltd
("Shell"), the Operator of Licences P2437 and P2252, has confirmed
that a rig contract has been signed with Valaris for the drilling
of both the Selene exploration well and the Pensacola appraisal
well.
The two wells will be drilled using
the Valaris 123, a heavy duty jack-up rig, with Selene and
Pensacola being drilled as a two well sequence, with the contract
and mobilisation commencing in the June-July 2024
period.
With Selene and Pensacola being
drilled sequentially, this creates the potential for
operational efficiencies associated with being
part of an extended programme of wells.
Confirmation of the rig contract is
a significant step forward for Deltic and a key milestone in the
preparatory work required to support the exploration well on the
Selene gas prospect and the appraisal well on Pensacola, following
last year's discovery.
Following on from the operational
update provided towards the end of last year, the geophysical site
survey on Pensacola has now received permitting approval.
Mobilisation to the site has taken place and the survey is expected
to last for approximately one month.
Graham Swindells, Chief Executive of Deltic Energy,
commented:
"Signing of the rig contract coupled with the firming up of
the drilling schedule is another important step for Deltic as we
move further down the runway towards the drilling of Selene and
Pensacola. Confirmation that the JV has secured a high quality rig,
with Selene and Pensacola being drilled back to back, represents
another key milestone as we get closer to drilling in what is
shaping up to be a very active and exciting year for
Deltic."
**ENDS**
For further information please
contact the following:
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Deltic Energy Plc
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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)
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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)
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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 / Ana
Ercegovic
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Tel: +44 (0) 20 7523 8000
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Vigo Consulting (IR
Adviser)
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Tel: +44 (0) 20 7390 0230
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Patrick d'Ancona / Finlay Thomson /
Kendall Hill
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