Deltic Energy (LSE:DELT) has confirmed that completion of its recommended cash takeover by RockRose Energy’s Viaro Bidco remains subject to regulatory approval from the North Sea Transition Authority (NSTA). The consent relates to a change of control over Deltic’s North Sea exploration licences, following shareholder approval of the scheme of arrangement in August 2025.
Viaro Bidco has now obtained an additional extension from the NSTA, pushing the deadline for further submissions to 13 February 2026. The extension allows the bidder to provide additional representations in response to the regulator’s outstanding concerns, extending the period of uncertainty around the transaction’s completion timeline. Until a decision is reached, the outcome of the deal — and Deltic’s future ownership structure — remains unresolved, with potential implications for its position in the UK North Sea upstream sector.
From a financial perspective, Deltic’s outlook continues to be weighed down by the absence of revenue, widening losses, sustained cash outflows, and a significantly reduced equity base reported in 2024. Market technicals reflect these pressures, with the share price in a clear downtrend and momentum indicators remaining weak. Valuation offers little support at this stage, as ongoing losses render the negative price-to-earnings ratio less meaningful and no dividend income is available.
More about Deltic Energy
Deltic Energy is a UK-focused oil and gas company holding exploration licences in the North Sea. The group operates within the upstream energy sector, concentrating on exploration and appraisal activities across the UK Continental Shelf.
Leave a Reply