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I'm presuming news, gas price has been higher but sp didn't move up with it, im presuming because DGO has the gas price mostly hedged
News coming soon or just the price of gas moving up?
https://www.herald-dispatch.com/business/diversified-gas-oil-announces-opening-of-gas-control-center-in-charleston/article_90bc8d27-cc2b-5a7c-8e77-59686bf24fc4.html
Business
Diversified Gas & Oil announces opening of gas control center in Charleston
The Herald-Dispatch 22 hrs ago
CHARLESTON — Diversified Gas & Oil Corporation announced the opening of its state-of-the-art natural gas control center in its Charleston regional office.
The new facility will initially support the monitoring of the Cranberry Pipeline network, which transports 70 million mcf (thousand cubic feet) of nat...............
Thanks for both of those, they read well.
I’ve held DGOC for years now, through the market ups and downs.
Like most holders the only fly in the ointment is the divi payment and tax treatment in different accounts. I’ve give up moaning and just accept what I get.
Recommended both posts, cheers.
First Berlin note on DGOC
http://www.more-ir.de/d/22051.pdf
.
New Cenkos note on DGOC in the link below........ PDF file
https://gofile.io/d/kGPmPs
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FY results on 8th March. Webinar with management on 10th at 6pm Register here:
https://us02web.zoom.us/webinar/register/7216117313646/WN_u6UZAWCXTXaT_8uqF9rPEg
Diversified Gas & Oil PLC said it achieved record 2020 average daily production while its cash operating expenses and total cash expenses both shrank.
Due for a re-rate when the results are released. Should be close to £1.40 IMO
Cheers for that , makes good reading. Hopefully some more deals coming.With oil prices picking up I wonder if the next one might involve more oil producing assets. To build cash that way . Im sure I have read in the last company presentation that most assets are gas producing wells. So maybe oil? Just a thought.
As the global economy emerges into the light after a bruising 2020, and oil and gas prices pick up, energy investors are looking forward to making the most of 2021.
But with much of the Western world still in various states of lockdown, how strong will the recovery be, and what companies are best placed to benefit? We consider the oil and gas sector’s prospects for 2021, and highlight some small caps to look out for.
Companies covered include : #RDSB #BP #DGOC #TXP #DELT #RBD #IOG #WTE #ADME #ENQ
https://total-market-solutions.com/2021/01/green-shoots-for-oil-and-the-energy-sector/
Nice recovery in the gas price. Would be good to see it back to +3
Thanks for the message Proselenes
Like Bob_L I pursued this for over a year, in my case with I-web/Halifax as well as DGOC. I had filled in the Ben form before investing.
Talking to anyone was pointless as no-one knew what I was on about, so the time spent was enormous reading US tax papers etc. After making an official complaint, I-web admitted they had misled me in their reasons for not paying the full amount. They refunded the tax I had paid, but made it clear that if I continued to hold, I now knew of the problems and would continue to get the 30% shortfall. Moving elsewhere would be a problem as I prefer to keep my ISA in one place.
I am told that the problems are twofold - Computershare pays out the dividends and the W8BEN's have to be submitted to them by the Bank or Stockbroker, and UK Banks aren't licensed to handle to W8-BEN for US companies listed on the London Stock Exchange. Computershare in both the UK and USA refused to communicate with me as I am not their client.
I am also told that the Banks, (HSBC/Halifax/Lloyds etc actually receive the dividend with the 30% tax already taken off from Computershare, and just pass on what they get. So the client sees no mention of any tax paid, which makes me wonder who actually benefits from the tax withheld. No one is interest in talking about the matter further. It's a case of sell up, or go elsewhere.
Very unusual for DGOC to go quiet for so long. I was expecting a notice of further expansion by now. Maybe they are happy just to collect some cash and reduce the debt. Oh, and to give a load to the share holders of course! Top dividend payer in the FTSE 250.
adv11. It does.
You must fill it in and send to your bank.
https://www.irs.gov/pub/irs-pdf/fw8ben.pdf
Make sure you make a complaint and keep pursuing it.............at most should be 15% tax.
@CAWren, I had a complaint with HSBC for over a year about the 30% withholding tax. There is clearly a 15% US/UK tax treaty, and I eventually got HSBC to admit in Sep 2020 they were wrong and I received the additional tax back that was withheld. There statement to me was
"I’m sorry the Withholding Tax paid on your Diversified Gas and Oil Plc shares was incorrect. Thank you for bringing your concerns to our attention and allowing us to rectify this matter. Due to the nature of the case and it involving US tax payments, I apologise for the time our enquiries have taken."
I still felt unhappy with the service they provided, for example holding back REIT tax from an ISA, and paying it a month later. I moved my account to HL and only get taxed at 15%, and receive my ISA REIT divi's in full on payment day. Not sure how much DGOC withholding tax you are losing, mine was £400 per year, but any additional costs were easily covered by moving my account. But you need to check that the broker you use honours the 15% US/UK tax treaty .
Hope this helps
W8-BEN form doesn't work with UK banks, whether Isa or normal trading account. Very frustrating and something that should be sorted. Received my dividend 21st Dec. with Halifax/I.web 30 percent less, which is apparently what the bank receive. Get no mention of any tax taken.
Received mine yesterday 29/12/2020 11 days after HSBC received it. Less 30% withholding Tax. Amount will be shown on your Consolidated TAX Certificate at end of year. If stock held in as ISA Don't think you can get amount withheld back into isa,
W-8EN form, don’t think it works in every type of account only because nothing ever matched from account to account for me.
When you fill it out make sure you put UK. I put England, country of residence, they threw it out but didn’t tell me until I had another divi with 30% deducted.
Had mine on the 18th Dec and I'm with Hargreaves Lansdown with the correct 15% deduction rather than the 30% that you get charged if you don't fill out some form.
Yes had mine with Interactive.
Are your shares in a SIPP?
If they are, go to your cash holding and move it to US$ from sterling and you’ll see it. You can convert it to £’s then but they’ll have another little piece of your pie.
Apparently Interactive SIPP can’t accept the $ to £ conversion, so by default it’s paid in $’s but you can only hold sterling in their ISA, so they convert it for you.
I know crazy :-)
I have them in both accounts and I lose out a good chunk of the divi in my SIPP compared to my ISA.
Written lots of emails, won’t change.
Hope this helps
I received mine yesterday, (although I've queried it as the amount is wrong )- I'm with HSBC.
Has anyone received their December Div payment?
With Interactive Investor here and no payment
Q3 2020 dividend of 4.00 US cents per share
Ex-dividend Date: 4 March 2021
Record Date: 5 March 2021
Payment Date: 26 March 2021
Here, Malcolm Graham-Wood catches up with Doc Holiday and for the first time ever does an exclusive interview to reveal his “Bucket List” Stocks for 2021. He covers 21 companies investors could make money on over the next 12 months.
This is the 6th year for Malcy’s “picks” and the list is intended as a balanced portfolio of stocks from the 120 or so listed Oil and Gas companies.
Malcy is quite bullish on Oil with a $55 price target for next year based on an economic recovery after all the “Events” of this year.
The companies below have solid balance sheets, exploration upside, possible yield and a solid Board Of Directors behind them. The companies concerned are global and cover Asia, America and Africa. So do you invest in all 21 and cover all bases or maybe have a listen and form your own “Oil” portfolio? The choice is yours…
Malcolm Graham-Wood has over 30 years experience in the Oil & Gas sector working in a variety of capacities, these days Malcy floats around the markets as the oracle of oil stocks, jet-setting to foreign lands reporting on prospective investment opportunities.
https://total-market-solutions.com/2020/12/malcy-bucket-list/