No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Deltic Energy said on Wednesday that it had received a $1.0m payment from Dana Petroleum relating to costs incurred under the Selene farm-out agreement.
The AIM-traded natural resources investing company said the payment, equivalent to 738,561.62, related to costs incurred by Deltic and repayable by Dana under the farm-out of a 25% interest in licence P2437.
The licence contains the Selene prospect in the Southern North Sea. The farm-out was first announced in February 2024.
Deltic said the proceeds would be used for ongoing working capital requirements.
At 1056 BST, shares in Deltic Energy were up 2.74% at 6.78p.
Reporting by Josh White for Sharecast.com.
See latest RNS on Investegate
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.