**Summary**
Deltic Energy Plc announced on December 12, 2025, that it has entered into a **deferred repayment agreement** with Shell U.K. Limited, the operator of the Selene (P2437) license. The agreement defers the payment of **£1,530,320** accrued from the successful Selene exploration well (April–October 2025) and any further sums accruing after October 2025. Payment is deferred until **February 27, 2026**, with potential extensions of up to nine months at Shells discretion. The agreement includes **non-compounding interest** at the Bank of England Base Rate plus 8%, payable monthly, and is unsecured. Shell can demand early repayment in case of a change of control at Deltic or if Deltic assigns its Selene interest.
Deltic has fully drawn **£2.7 million** from a bridging facility provided by RockRose Energy Limited as part of its proposed acquisition. As of November 30, 2025, Deltic held **£1.90 million** in unaudited cash and, with the deferred payment agreement, is funded for working capital until at least mid-2026.
**Key Points**
Deferred payment of £1,530,320 and future Selene-related sums until February 27, 2026.
Interest at Bank of England Base Rate + 8%, payable monthly.
Shell can demand early repayment under specific conditions.
Deltic secured £2.7 million bridging facility and has sufficient funding until mid-2026.