Deltic Energy Plc, announced that it has received the required regulatory and partner consents in respect of the farm-out of a 25% interest in Licence P2437, containing the Selene Prospect, to Dana Petroleum (E&P) Limited which was announced on 7 February 2024. The farm-out has therefore completed. This transaction, in combination with the existing Shell UK Ltd. carry, results in Deltic retaining a 25% non-operated interest in Licence P2437 and having no exposure to 2024 drilling and testing costs up to a cost cap of USD 49 Million (gross), which is in excess of current success case well cost estimates provided by the Operator.

Following the announcement of the rig contract for the Valaris 123 on 5 February 2024, the Selene well remains on track, with operations expected to commence in July 2024.