DELTIC ENERGY PLC LS-,005

Petrogas International E&P Coöperatief U.A., a subsidiary of Mohammed Al Barwani LLC, said it will not make an offer for Deltic Energy. The decision follows Deltic’s announcement of a possible bid and an offer from NEO NEXT+ Energy Upstream UK dated 7 May 2026. Petrogas points to restrictions under Rule 2.8 but reserves the right to lift them under certain conditions (e.g., board approval, withdrawal of the NEO offer, a Rule‑9 waiver, or a reverse takeover). » More on de.investing.com

NEO NEXT+ Energy Upstream UK has agreed to acquire Deltic Energy for 7.7 pence per share (around £7.2m). The offer represents a 156.7% premium to the closing price on 21 April 2026 and is to be implemented by a scheme of arrangement under Part 26 of the Companies Act 2006. Deltic’s board unanimously recommends the takeover; commitments from major shareholders cover about 23% of the capital. NEO NEXT+ will provide up to £2.9m in bridge financing, and completion—subject to shareholder and court approval—is expected in Q3 2026. » More on de.investing.com

Deltic Energy confirms talks with three parties — Capricorn Energy, Petrogas (a subsidiary of Mohammed Al Barwani LLC) and Blue Concept Hld AS — about possible cash offers for the company’s entire issued share capital. The announcement was made under Rule 2.4 of the UK Takeover Code and creates an offer timetable; potential bidders must either announce a firm intention to make an offer or rule one out by 20 May 2026 at 17:00 unless the Takeover Panel grants an extension. The board will review proposals with advisers but does not rule out that talks could end without an offer; Allenby Capital is acting as Deltic’s financial adviser. » More on de.investing.com