Pensacola Drilling Update

RNS Number : 9489D

Deltic Energy PLC

25 October 2022

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 ("UK MAR") . With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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: [phone]
Graham Swindells / Andrew Nunn / Sarah McLeod
Allenby Capital Limited (Nominated Adviser)	Tel: [phone]
David Hart / Alex Brearley (Corporate Finance)
Stifel Nicolaus Europe Limited (Joint Broker)	Tel: [phone]
Callum Stewart / Simon Mensley / Ashton Clanfield
Canaccord Genuity Limited (Joint Broker) Adam James / Gordon Hamilton	Tel: [phone]
Vigo Consulting (IR Adviser)	Tel: [phone]
Patrick d'Ancona / Finlay Thomson / K endall 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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