Member Info for Andy144

Broom. I would go along with that. Likewise I have purchased more this morning and will take the bet. Some value investors will climb aboard. SP could easily move to 7.5p plus when the dust settles.

Good to see a positive day. HUR still represents a good value bet IMO. I wonder if ST at the IC will spot this - it's exactly the sort of special situation investment he likes to call.

I think Buffet's quote that the market goes from a voting machine to a counting machine will play out at some stage.

Yes, that's an egregious summary of DEC's results.

“This translated into Diversified ranking in the top 20 of total shareholder returns in the FTSE 250 for the year.”

That must be monetary value surely? Or are there 20 other FT250 companies paying 15% dividend before tax?

Yes sentiment still not great but with value reserves of $6.1bn (less now as gas prices lower) and the gas price well under the 2023 average hedge price, that might change. It is also nice to see their well plugging business expanding into orphan and 2nd party wells. In time this might be more of a stand alone business.
I am certainly a bit happier with my investment today. We need a bit more institutional buying.

Trek - It might well but if it does then next quater will see a huge profit! That could be an interesting day

With DEC it's the FCF figure which is important

I think that's the hedging loss. If the gas price stays under the hedging price for the next few months then that figure will turn positive next quarter.

Agreed MrG. Very pleasing set of results. Should hopefully draw a line under the SP fall.

look good to me. Dividend up to 14.2p before WHT for the year if kept the same as today's divi increase. Nothing in the results looked pessimistic. Hedged price very good compared to gas price so it's a win win for at least the next year, at which point prices might stabilise. If this doesn't lift the price a bit I cannot see what will.

Good luck all

Just for interest, I lived and worked in Brazil in the early to mid 90's working in the oil industry. I was, luckily, paid in US dollars because the local currency was experiencing hyper-inflaction. Locals were paid at the start of the month and would dash out and spend the lot, on anything - on the same day - because by the end of the month it their 'money' would buy about 50% less stuff. Interestingly the government would just rubber stamp extra zeros on the old notes sometimes.
I smoked at the time and would come off the rig to find my cigs had doubled in price after 2 weeks away. Didn't bother me as everyone wanted my dollars which were stable. I think the old currency was the Crucero or something like that. After a while of printing away they gave up and just made a new currency one evening and pegged it to the dollar.

Same happening in Venezuela at the moment. I worked there too. They make very interesting case studies. Both happened for slightly different reasons but they are a warning on weath transfer and 'money' destruction.

"However, if as you suggest, BTC is set to replace fiat currencies"

When did I say this?

Oh just one more thing. Biggest Ponzi scheme? All of crypto has a value less than Amazon or there abouts.

The US Federal Reserve gives 'money' to the US treasury in exchange for Bonds sold by the Treasury. The FR has no money to do this but hey, who cares. This money is pumped in the economy and the tax payer of the future has to pay the interest. But guess what? Not enough tax is collected to pay the interest. OK no worries, the Treasury can just sell more bonds to the FR and get more 'money'
This, not crypto, is by far the biggest Ponzi scheme ever and the US has no way out. Either default or print more. I'll give you 2 guesses as to which one they will do.

Sterling last died in 1971 with the 'New Pound', inflation followed when there was general confusion and ppl realised they could get away with raising prices.

"fiat currencies are backed by their issuing country and their populace; that guarantee is at least worth the paper it's written upon" - tell that to Venezuealians, they probably could do with a laugh at the moment.

The dollar, as we know it will die. It may be next year or in 50 years but it is inevitable. There have been thousands upon thousands of fiat currencies and not one has survived. You think the dollar will? It will not break the cycle. It will just be reformed with a massive transfer of wealth in the process. A transfer from those who value bits of paper more than hard assets. It might just be, because of it's qualities, that Bitcoin could be one of those assets.

Sometimes it's really hard to step away from what we all 'know'. As a populace, we have been brought up and educated in a certain way. But deep down I think most ppl know something is wrong with the economic model, they just can't put a finger on it. Fiat currency depends on faith, nothing more. If that faith starts to get erroded then the currency gets erroded. CB's have lit up the printing presses in the misguided hope that the problems will go away. They won't. And one day, who know's when, there will be a different world.

I'm only talking about bitcoin, and I'm only talking about a small part of one's portfolio.

We will always have fiat currenties. They just die and then get reborn. Anything can survive without a fiat currency. Has gold died? No, it is always there and will have a new value against the new currency. In the period betwwen the old currency hyperinflating and the new one emerging, such assets will rocket in purchasing power. They have always done so and will always do in the future.

I am not saying that if we get a 1920's style depression that all people will flock to Bitcoin, just that some will and this could well hold value against a hyperinflation until a new currency emerges, just as gold would do.

Bitcoin is not backed by US deposits, just as gold, silver or anything else is. There is a buyer and a seller. If the seller wants to sell and can find a buyer with currency then it can be sold.

Yes crypto can be just made. I have no interest in anything other than Bitcoin and have never suggested otherwise.

If people are daft enough to use an exchange to store their bitcoin or other crypto then yes, you will get an FTX; just as you can get shafted by Goldman Sachs, for example, peddling worthless sub-prime mortgage backed securities.

Perhaps this conversation is pointless. I was interested in your views but you seem after angry at me. My last point on the subject: All fiat currencies die. 100% track record of failure and there have been thousands of them. I would rather hedge against this to a degree. It would be crazy to put everything into crypto or gold or anything else. Since 1913 when the US CB was formed, the dollar has lost 95% of it's purchasing power.

Sorry Trotsky..indulge me. I'm always interested in others' views and this comment below of yours was of interest.

"Bottom line, if the USD was to "crash", bitcoin would likewise go pear-shaped."

So, when you say 'crash', crash compared to what? Other currencies?

It probably depends on your view of what a crash is. Mine is a systemic failure of banks causing a complete meltdown of the dollar where no one wants dollars or indeed any cash. In this senario, which has a fair chance of happening in the next decade, If the dollar crashed then all other currencies will too (bar a couple). Then it wouldn't be a crash in currency terms just in purchasing power terms.

If that happens then anything which cannot be manipulated by governments or CB's will become more valuable in currency terms (whatever shape that may then take)

Call me Mr. doomsday. Prepare for the worst and hope for the best.

Trotsky. I think you are mistaking crypto banks / exchanges with crypto. Bitcoin has never missed a beat all through FTX and SVB - it worked perfectly, never stopped or was suspended. It's the exchanges that are at risk. Bitcoin isn't if it's held privately with a secure private key. As for transaction speed it's not about that. it's about having some store of wealth that the governments and CB's cannot manipulate.
It is always human greed and fraud that causes these issues, not actual Bitcoin itself.

Love Bitcoin or hate it, it has never failed to do what it was designed to do. i.e function in all weathers. It never gets halted, suspended, hijacked, debased, or any other scam the governments or central banks want to try and pull. If you actually look into it, Bitcoin is very secure. Far more so that deposits in some banks, and that's my point. If you were in Argentina or Venezuela and couldn't get your currency out of the country when you want to flee, what can you use?
Buy bitcoin, flee with your flashdrive, land and convert back into bits of green paper.

The US treasury can do another round of QE to bail out the banks. It will work, for a while. But one day it won't work.

Looks like another false dawn today. Up she goes, down she drips.