REG - Deltic Energy PLC - Pensacola Drilling Update

Deltic EnergyAnnouncement

25/10/2022 07:00

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RNS Number : 9489D  Deltic Energy PLC  25 October 2022

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(EU) No. 596/2014 which forms part of domestic UK law pursuant to the European
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Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources

 

25 October 2022

 

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

Pensacola Drilling Update

 

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, announces that Shell UK Ltd ("Shell"), the Operator of
Licence P2252, has indicated that the preparations are now underway to move
the Maersk Resilient drilling rig to the Pensacola location and mobilisation
is planned to occur in early November with the well expected to commence
drilling in mid-November.

 

The Company looks forward to providing a further update when the rig is on
site at Pensacola and drilling has commenced.

 

**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                                             Tel: +44 (0) 20 3328 5656
 Adviser)

 David Hart / Alex Brearley (Corporate Finance)

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

 Callum Stewart / Simon Mensley / Ashton Clanfield

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

 Adam James / Gordon Hamilton

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

 Patrick d'Ancona / Finlay Thomson / Kendall Hill

 

About Deltic Energy Plc

Deltic has created a strategically located portfolio of high-quality gas
exploration licences in the Southern North Sea over a number of licensing
rounds.  These licences are located in areas that have been underexplored
despite significant discoveries such as Tolmount, Breagh, Pegasus and Cygnus,
most of which have gone on to be developed and could provide ready access to
export infrastructure for any future developments on Deltic's licence acreage.

 

About Pensacola

Pensacola is a Zechstein Reef prospect located to the north west of the Breagh
gas field in the Southern North Sea. Deltic estimates the prospect to contain
gross P50 Prospective Resources of 309 BCF, with a 55% geological chance of
success, which will rank Pensacola as one of the highest impact exploration
targets to be drilled in the gas basin in recent years.

 

 

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