12th Dec 2025 19:09
Deltic Energy PLC - investor with an exploration and appraisal portfolio in the southern and central North Sea - Enters into deferred repayment agreement with Shell UK Ltd, operator of the P2437 licence, Selene. Agreement relates to GBP1.5 million sum accrued to Deltic's account in relation to the successful Selene exploration well from April 2025 to October 2025 as well as any further sums accruing to Deltic in relation to Selene after October 2025. Agreements defers payment to February 27, with Shell able to grant extensions for up to nine months. Terms include a non-compounding interest payable to Shell at the Bank of England base rate plus 8% with interest payable monthly. Elsewhere, Deltic has drawn down the full GBP2.7 million available to it under the bridging facility provided by RockRose Energy Ltd as part of its proposed acquisition of Deltic. As of November 30 Deltic has unaudited cash of GBP1.90 million and is funded for working capital purposes until at least mid-2026. Read More
