Deltic Energy (GB:DELT) has released an update.
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Deltic Energy PLC has announced its withdrawal from the Pensacola project in the UK North Sea due to the inability to secure funding amidst fiscal volatility and political uncertainty. The company is proceeding with the Selene project, which is advancing towards drilling operations with no cost exposure up to $49M, highlighting the continued interest in certain exploration assets. Additionally, Deltic is finalizing discussions on the Syros prospect farm-out and pivoting towards infrastructure-led opportunities like Pharos-Blackadder for quicker development and production.
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