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Petrogas not planning to make an offer for Deltic Energy

Wed 03 June 2026 12:28 | A A A

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(Sharecast News) - Petrogas confirmed on Wednesday that it does not plan to make an offer for AIM-listed North Sea operator Deltic Energy.

Deltic announced last month that it had agreed a recommended cash acquisition by Neo Next+ Energy Upstream UK in a deal that valued the company at around 7.2m on a fully diluted basis.

Under the terms of the acquisition, Deltic shareholders will receive 7.7p in cash for each of their shares, which is a premium of about 156.7% to the closing share price on 21 April, the last trading day before the offer period began.

At 1226 BST, the shares were down 3.7% at 6.50p.

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