Member Info for Andy144

MrG Yes. Exactly. I also have invested heavily ever since the float some years ago. DEC are so divi blinkered they think this is the be all and end all. It is also the second time they have bought shares back and, just a few months later, issued new ones. That episode was very poor for shareholders and I'm sure management said they would look carefully into future purchase fundings.
But here we are again, more new shares and a falling share price. The open offer to existing shareholders was a joke.

Can someone explain why they are willing to buy back their own shares at c£1.15 with their (I imagine) own $$ but not prepared to use same $$ to fund aquisition at a price of £1.05. DEC really should start using their own $$ rather than keep tapping shareholders.

Just what we need. Buy shares, cancel share, issue shares.

I'm not that confused thanks. probably another month of producing. My point is that this should draw a line under the share price drop.

By my rough calculations, cash in bank (and oil onboard) = market cap.

In answer to where I store it - at home in a safe.

Terry - the off balance sheet debt has been estimated (for the US) somewhere from $100tn to $300tn. They can keep printing but at some point the market will not accept any more. We have already seen the potential start of the reset with internal conflict between the right and left in the USA.

Trek - yes it is just stuff. It just happens to be better stuff than green bits of paper. We spends vast amounts of time and effort chasing these bits of paper to put them in the bank but the government can just turn the handle and make them without any time or effort. We should all consider this and ponder on what might happen should we get another 2008 which cannot be fixed.

I would suggest that a far bigger unknown and, potentially, a far bigger threat is the dollar value. US debt ceiling has been hit (again) and I think they have until June to raise it. Bonds are finding fewer and fewer homes these days and it would only take a failed bond auction or (and this is not beyond a possibility) some sort of debt repayment failure by the US and all the speculation on DEC numbers will mean nothing.
Only the fact that nearly all countries are wallowing in debt and therefore in the same currency mess gives one slight hope that the dollar might actually fall along with all other currencies including the GBP which most of us get our divi's in.
Something, sometime, somewhere, is going to give. Probably within the next 5-10 years, and it's not going to be nice. We had a very close call in the UK in October thanks to our pathetic and inept lords and masters. It can go South very fast and that, for me, is the real danger - not whether DEC has 4.5% decline rates or 8.5%.
If anyone wants to know, and I doubt anyone does, there are few answers. DEC has a good dividend which for me pays for the accumulation of physical gold and silver. I personally just hope there is enough time to get one's ducks in a row before the inevitable.
Sorry to be a bit gloomy but this will happen. No fiat currency has ever survived and modern monetary theory is flawed.
Wishing you all the best and here's hoping DEC can make another run into the 140's.

Same here with IG. Funded my SPREAD BET account but with no adjustment to the selling price. I could actually sell at the current 7.4p and have the 3.1p payout. These things usually catch up with you however. I have not had the dividend in my IG SHARE account where I also hold HUR

the share price this morning. Only just gained what it lost yesterday as of writing this whereas it sounds like a F/O is now a certainty. Perhaps the news delay is due to multiple interest fighting over GB rather than lack of interest. One can live in hope.

Wow. What a reaction. I've been in JOG since 40p and not my first post. But please do ignore. It was just my thought that it looks like someone might know something. If you panic over a post title I suggest you don't look at BB's.

Byeeee

Well looks like someone knows something (bad) and there is no support.

Will need an RNS soon from the management at this rate.

The $70m dividend comes from the cash. You can't add this back into the sums.

Under the offer price. Just bought a few more...

This is my take on the news FWIW.
1) CA have always wanted to get out. This isn't a takeover by them but they may have been behind the scenes. They are on the BOD after all.
2) 7.7p is hopefully just a carrot to get others interested. It's low. The price went higher after the news that the bonds had been paid and that wasn't news at all. The decommissioning Co. could buy at this price and get it's $70m for nothing.
3) Come Feb 23, HUR will be worth 7p a share in cash alone, assuming all is the same. Good to see the BOD rejecting the offer and saying the right things. Can't help thinking the non CA members have been flanked, and this is all a bit of a setup.
4) Happy to be in profit again.

"I have been in business like am sure many on here has. money sitting in the bank at least these amounts is not a done thing. You invest it back into the business and make it grow. I believe that is what the BOD is working on or at least I hope so. Only time will tell. Lexylou."

As in...'We have to do something. This is something. Therefore we have to do it'?

Money sitting in the bank is fine if there is nothing better to do with it. History is littered with the bones of companies who spent their money unwisely.

All things being equal, we should have parity between market capital and cash in the bank after the December lift. CA can do what they like really. The market will always eventually level out towards it's true value. If the well is looking good, I would much rather see cash being pumped into the bank and a dividend than management go on some goose chase with it. I wouldn't trust them with a bucket of water if my @rse was on fire.

How will they not have distributable reserves in a years time?

Interestingly, the price of crude today in £ terms is almost exactly the same as it was in April when crude was $110/bl. It works out as just over £81/bl today and about £84/bl mid last April. So long as the well continues to produce as it does, this is basically a cash machine and the share price should reflect this at some stage.
Personally, I would rather this management team did nothing for a year or so, and just make money.

with the price gaining c10% on news which is months old. We knew the bond would be repayed late July. Strong position. Let's see if the BOD can **** it up.

Be cautious applying a calc. based on totally differing parameters. Gulf of Mexico aside, the drilling, transportation and production costs, etc. for North America compared to the North Sea are huge. I have drilled in both and there is no comparison.