Deltic Energy (AIM:DELT) has received a payment of US$1m (£738,561.62) from Dana Petroleum (E&P) relating to costs incurred by Deltic and repayable by Dana under the farm‑out of a 25% interest in Licence P2437, containing the Selene Prospect.
The funds will be used for Deltic's ongoing working capital requirements, with Deltic an AIM‑quoted natural resources investing company focused on a high‑impact exploration and appraisal portfolio in the Southern North Sea.
The farm‑out to Dana was first announced on 7 February 2024.
