Deltic Energy reports narrower loss ahead of its takeover

26th Jun 2026 13:04

(Sharecast News) - Deltic Energy reported a narrower full-year loss on Friday, as shareholders backed its proposed takeover by Neo Next+.

The AIM-traded company said its loss for 2025 narrowed to £2.1m from £21.2m, after the prior year included an £18.0m impairment related to Pensacola.

Administrative expenses fell to £1.9m from £2.9m, while cash at year-end rose to £1.6m from £1.4m after Deltic drew down a £2.7m term loan from Viaro Bidco.

Deltic said shareholders voted "overwhelmingly" on 24 June in favour of Neo Next+ acquiring the company, with completion expected in the coming months subject to NSTA approval.

Chairman Mark Lappin and chief executive Andrew Nunn said they looked forward to seeing Neo Next+ "advance the Selene discovery and Deltic's other assets towards production".

At 1231 BST, shares in Deltic Energy were down 7.14% at 6.5p.

Reporting by Josh White for Sharecast.com.

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