LONDON: The 92.6 million pound ($118 million) takeover of British oil and gas explorer Deltic Energy Plc (DELT.L) by Viaro Energy’s subsidiary RockRose has been delayed into 2026, pending regulatory approval from the North Sea Transition Authority (NSTA).
The companies announced on Thursday that the NSTA, the UK’s oil and gas regulator, has extended its review period for the deal. Viaro’s bidding vehicle, Viaro Bidco, must now provide further information to address the regulator’s concerns by Jan. 30, 2026.
The recommended cash acquisition, to be effected via a court-sanctioned scheme of arrangement, was approved by Deltic shareholders on Aug. 28, 2025. However, completion remains conditional on NSTA consent for a change of control of Deltic’s North Sea exploration licences.
“The NSTA has agreed to an extension to the date by which it requires further representations from Viaro Bidco in order to reach a definitive conclusion,” the companies said in a statement.
A further announcement will be made in due course, they added.
($1 = 0.7845 pounds)