Deltic Energy, the AIM-quoted natural resources investing company with a portfolio of operated and non-operated exploration and appraisal assets in the UK North Sea, has provided the following update in relation to Licence P2252 and the Pensacola discovery.
Deltic has been granted a short period of additional time from Shell UK Ltd, in its capacity as Licence Operator of P2252, which will allow Deltic until 12 June to progress discussions with potential counterparties in relation to a possible transaction. There is however no guarantee that discussions will be concluded successfully within that timeframe and, in such circumstances, Deltic will be required to withdraw from the Pensacola licence and transfer its interest in Pensacola to its Joint Venture partners.
The Company will make further announcements in due course.
Source: Deltic Energy
