REG - Deltic Energy PLC - Selene & Pensacola - Confirmation of Rig Contract

Deltic EnergyAnnouncement

05/02/2024 07:00

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RNS Number : 9458B  Deltic Energy PLC  05 February 2024

 

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:

 

 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 / Ana Ercegovic

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

 Patrick d'Ancona / Finlay Thomson / Kendall Hill

 

 

 

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