Deltic Energy’s Landmark Discovery Boosts UK Energy

Deltic Energy Plc (GB:DELT) has released an update.

Deltic Energy Plc, an AIM-listed natural resources investment company, has announced a banner year with the drilling of the Pensacola prospect, leading to the most significant Southern North Sea discovery in a decade. The find, independently assessed by RPS Energy, estimated a gross 2C contingent resource up to 72.6 mmboe, with robust financial projections including a post-tax NPV10 of $683m. With a strong cash position and no debt, Deltic is poised to drill two wells in the latter half of 2024, partnering with Shell and Dana Petroleum, reinforcing its strategic position in contributing to the UK’s energy security.

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