Deltic Energy plc’s £6.9 million sale to the Viaro Group faces further delays, after the industry regulator deferred its decision until late March 2026, and without committing to a definite date.
UNCERTAINTY
The transaction with Viaro’s main operating subsidiary, RockRose Energy Ltd, was initially deferred in December 2025, after the North Sea Transition Authority asked for more details to address “concerns”.
Deltic today said that the NSTA had, on 13 February 2026, received further representations from Viaro Bidco.
Deltic also has until 27 May 2026 to pay £1,530,320 owed to Shell (UK) Ltd, although a further extension is possible, subject to Shell’s approval.
“Given the NSTA’s intensive interactions with Viaro Bidco over the last few years and the simple nature of the current transaction, Deltic’s board remains unclear as to why the NSTA has not yet been able to come to a conclusion in relation to this matter,” added the company.
“The board of Deltic considers the ongoing uncertainty and significant length of time that this regulatory process is taking creates material market uncertainty in relation to a shareholder approved transaction, and more generally an unnecessarily difficult environment in which to invest, operate and transact.
“Deltic has again requested, despite being refused a number of times during this process, a face-to-face meeting with the NSTA to better understand the situation and to enable Deltic to provide full information to its shareholders on a simple business transaction which protects value, the assets and the team members.”