Deltic Energy plc expects the £6.9 million sale of the company to Viaro Group to take place early in the fourth quarter of this year, subject to remaining conditions. LONG STOP The company’s shareholders approved the cash offer, by way of a court-sanctioned scheme, by 96.16% against 3.84%, at a general meeting on 28 August. […]
Tag: Deltic Energy plc
Deltic shareholders to vote on Viaro’s £6.9m offer
Deltic Energy plc shareholders are due to vote on 28 August on the £6.9 million cash offer for the company from Viarao Energy Ltd’s main operating subsidiary, RockRose Energy. SCHEDULE At least 75% of votes are needed at a court meeting and a general meeting to approve the sale, as well as sanction by the […]
Deltic corrects stated terms of sale to Viaro
Deltic Energy plc has issued a correction to part of the originally stated terms of the £6.9 million sale of the company to Viaro Group. The number of shares in the irrevocable undertaking should have said a total of 2,855,357 Deltic shares, representing around 3.07% of the company’s ordinary share capital. Viaro has received, in aggregate, […]
Deltic agrees £7m sale to Viaro
Deltic Energy plc has agreed to sell its entire share capital for £6.9 million cash to Viaro Group’s subsidiary RockRose Energy. SELENE Viaro will also provide Deltic with a bridging loan of up to £2.7m to cover working capital before the acquisition becomes effective. Deltic has previously warned about “political and fiscal headwinds” hampering the […]
Deltic increases Selene reserves by 33%
Deltic Energy plc reported a 33% increase in gross 2C resources of 174 billion cubic feet at the Selene gas joint venture in the UK Southern North Sea. DEVELOPMENT Partner and operator Shell (UK) Ltd analysed 176 core plugs taken from drill core samples over the Leman B-Sand, the “key producing interval within the much […]
Deltic explores funding options for Selene
Deltic Energy plc has progressed work on its Southern North Sea gas licences as it considers options for funding its share of operations. BLACKADDER Post-well analysis and pre-field development planning work has started, adding to current data on the Selene joint venture gas project. P2437 licence has entered its second term with work to date […]