Member Info for Andy144

George, are you in the USA? I can understand that you might have some overpowering urge to help others see the light and out of DEC but again, if you are that sure, why not just get out yourself. If I had your conviction I would. You can still soap box it either way.

Er....You get money for the Number of shares you own X price per share @ buyout price.

George,

I think the issue is exactly that. I don't know. I'm not going to make decisions based on unknowns. I try and make them on given facts. You can trust those facts or not; it's up to you. I am not a ramper, I just say it as I see it.

Getting unpleasant at me and asking how I sleep at night is not particularly helpful. I have not done this to you. A share price fall, even for an extended period, does not equal fraud, chapter 11, debt distress or any other senario. I imagine nearly every share in existance has had this.

share price has absolutely no baring on the ability to repay debt.

Ace: "The obvious sign of distress is the share price: the market does not regard the dividend as sustainable. Did Eric Williams leave because his advice was ignored? All of the key numbers were moving in the wrong direction at 30 June - I cannot see that has changed."

A company is not in distress if it has an income stream able to pay it's liabilites. Whether is decides to pay it's non debt obligations - dividends- is another matter, but that does not make it distressed. Share prices go up and down for many reasons. Are Facebook or Netflix distressed? Both have had huge falls (with FB bouncing).

My personal opinion, FWIW, is that DEC should cut the dividend and either pay off debt or BB shares. As regards CFO leaving, we can only guess at that.

Probably a good time to sell then George? If we have all been conned and mugged and you are certain about this then only a true fool wouldn't sell.

Those of us who don't this this is the case at least have an excuse. You can do your 'I told you so' in due course, should you get the chance.

Ace. I think it would be fair to say that before any possibility of even thinking about asset seizure (which would require a court order ect.), the dividend would be cut to help with debt repayment. i.e become a distressed company. There is no obvious sign of this being the case, given its share buyback and current debt repayment plan.

"but they also need new purchases to maintain good cash flows in future"

No, they do not. They might want one, but they don't need one.

Although I am as concerned as you there is a glimmer in that debt should actually be falling with $270m being paid off this year and $200m next, (assuming no more 'accretive' asset purchases) - see page 32 of last presentation.

Agreed that acquisions may now be very difficult (and who want's to see one in a high interest, low share price environment?). As such DEC should concentrate on their 10 year plan to become debt free - see page 33 of the last presentation.

You can't buy every fkng gas well in the USA so stop chasing the uncatchable.

And it's saying DEC is a basket case. 78p and falling. Gas price rising, £/$ falling. Both should work for DEC but continuous sells.

Another buying opportunity?There have been too many of those. I'm out under 75p as that is my break even. Such a shame.

For lack of anything better to do before dinner time, I killed 10 minutes and read the last few days of all JS's posts on PANR and JOG.

An interesting post was made where JS says that he has 2m + PANR shares and that if they get to £1 it will be life changing for him.

As we have all been told numerous times he also owns over 1m JOG shares. So that's over £2.6m value of stock in 2 companies that produce nothing. One assumes then that this must be just play about moey and that there must be quite a bit more in 'real' investments, property, cash etc. So it's fair to say JS is a very wealthy man by most people's yardstick.

And yet.... a rise of 30p to £1 on 2m PANR shares is 'life changing' i.e a gain of £1.4m. If you can p1ss about and afford to lose £2.6m (and yes, it could all easily be lost in JOG and PANR) then £1.4m is not life changing.

There is, of course, an alternate theory.....

It would seem that only time (and quite a lot of it) will prove DEC. I am now committed fully, but only need another 2 years of dividends to recoup all money invested, having been a shareholder since 2017.

As this BB has degenerated into a farce, I have decided to no longer contribute to it or discuss. Such a great shame as there are some really good, genuine posters. But, as always, when things turn south, there are always those who take advantage for their own slighly nefarious reasons.

With good management DEC will ride out whatever known and unknown issues there might be. The current dividend is unmatched and might well present a superb buying opportunity. I will continue to do so but only with dividend income; I will put the gold and silver buying on hold for a while as that has had a good run.

Best of luck to all holders.

With some recent posts by our beloved GG on chapter 11, I did a little digging and came up with the following points: There is some talk of this being deliberately done to screw SH's. The following points are aimed directly at that senario.

1) A plan must be submitted and creditors get to vote on this. They is no way creditors would be in favour.

2) RH is a large shareholder and, as a rule, shareholders get wiped out.

3) Chapter 11 bankcupties can be submitted to court if the business is being crippled by debt. This does not apply to DEC as far as I can make out. We have large debt, as many companies do; but far from crippling.

4) If a chapter 11 does happen then RH will lose some of the control; buying assets, leases, refinacing, expanding operations etc. It would be business suicide.

5) Total loss of reputation.

I could go on and on but it seems fairly pointless really. For starters you would have to appoint a liquidator who would also be in on the scam.

The question of debt has risen a few times. The excellent video by Rogue Trader highlighed this. It would be nice to know that DEC have stress tested their model. With the current buyback now in motion, one assumes debt repayment is not an issue.

Interest rates: It is worth noting that a high interest rate environment witll dampen drilling and exploration due to the higher cost base. This is a main reason why oil prices has climbed over recent months. It is cyclical and very delayed. Gas prices will also follow this trend.

Hi Jim,

I've been happy to take the dividends for 6 years now and they make a good income. The video suggests that the reserves have to be taken on trust which I suppose is fair enough. I think my point is that if these reserves are correct, DEC don't really need to chase more acquisitions. At some point, consolidation is better than growth. Perhaps a faster way to prove the model is to pay down the debt quickly and then start paying the high dividend.

It was a very interesting video. Isn't most of the debt at fixed rates? I would much rather see DEC reduce the dividend and start paying off the debt - or keep as a cash pile at 5% deposit for acquisitions.

Although I still think the model is working, DEC have got themselves into a bit of a downward spiral with bad news hammered and good news ignored.

Intererest rates are an important factor to consider when predicting oil prices. Oil co's will be reluctant to drill for new reserves when interest rates are high due to debt repayment on new equipment, rigs etc. Investors are unwilling to take the risk in the above when they can get 5% for doing nothing. Oil output eventually declines but this takes many years to be seen.

Much more likely it will bounce between 82p and 92p as it has been for ages. Well worth taking advantage of this. Spread bets working nicely and you get the dividend on XD date too (if you are long)

Captains log: Star Date 2304.4

Just beamed the the planet's surface for a dump. No intelligent life forms found.

Kirk out.

We arn't on AIM any more. Just incase you hadn't noticed.

"I've been a holder since 1,1 GBP sold yesterday. There are better companies elsewhere."

Possibly a mistake as it has always bounced off the low 80p's.

Wishing you luck

What about the $60m from the recent sale? Liquidity is apparently over $100m according to the recent results