Deltic Energy’s leadership said they are “immensely proud” of the company’s achievements ahead of its proposed acquisition by Viaro Bidco, as the AIM-listed explorer reported interim results for the six months to 30 June 2025.
Shareholders “voted overwhelmingly” on 28 August to approve the takeover by Viaro Bidco, a subsidiary of Viaro Energy. Completion remains subject to regulatory consents and is expected in early Q4 2025, after which Deltic’s shares will be cancelled from trading on AIM.
For the half-year, Deltic reported a loss of £1.0million (H1 2024: £19.3m loss before impairment), with administrative expenses of £0.9million (H1 2024: £1.5m).
Operational highlights included continued support for Shell on the Selene discovery (P2437), preparation for re-processing seismic data over Blackadder (P2672), and maintaining the Dewar licence (P2646) in care and maintenance pending government clarity on new development consents.
CEO Andrew Nunn said: “I'm immensely proud of what we've managed to achieve at Deltic, and Cluff Natural Resources before that, and would like to thank all those that have supported the business over the years as well of course as the Deltic team which has worked so hard to progress our strategy.”
FTSE100
The UK's flagship share index, the FTSE 100, was down four-points at 9,218 shortly after opening this morning.
Brent crude oil futures were down 0.04% at $67.01 a barrel.
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