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This is magnificent news!! I believe DTE have a 60% working interest in licenses 139 & 140 pre the deal. This is very exciting to team up with yet another major energy company. No cash but $45m of development costs sured up which like the previous GDF deal means 2 projects are close to fully funded for the next 3 years of drilling. The Airth Project that we will know by April has funding available via the HSBC facility. Financially DTE is in a very good positon with the only issue being Airth approval to start generating income early 2015.
There has been a distinct change in sentiment towards UK Shale with what I have been reading in 2014 and this announcement coming Monday is going to add to the momentum.
We will probably test .15c at some stage this week. To be honest I dont realy care, I am even more confident now that DTE in the next 3-5YRS has a realistic chance of pushing $1.