Member Info for dickies

Out today

Pretty solid half year results on face of it but will need to read through.

At some point the value of company will need to reflect the cash in hand / profitability!

After a long period of trying shareholders patience / nerve, hopefully the beginning of a positive run with above the above expectations so far this fy and expectations on the bonds/hk. Pleased / relieved that divi has been maintained

Pretty much all sells for last couple of months - until trading update for first 6 months of this fy shows (hopefully) that fall in turnover and profits was more of a blip than a trend it looks unlikely to change. I can only hope that any Hk update is relatively positive as Synergis bonds have been a bit of a joke with the ‘coming soon’ for best part of 2 years.

You answered you own questions

My opinion is this will be stuck around here until any meaningful update - which may be End of year for half year report unless there is something positive included in formal annual results about how trading in Hk is going (or by some miracle an update on the bond before this).

There is a risk on downside if trading doesn’t stabilise/recover and/or the dividend goes and so by no means a one way bet. I still have some confidence that this will recover after half year information becomes available and hopefully shows both recovery in core business along with contribution from hk.

Zero buyers right now and a few sellers are really hurting I agree

Yes I don’t disagree but if there are people willing to sell and no one looking to buy down it goes.

Disappointing update this morning - I hope that this does not see a further slip in sp but can’t see it adding any impetus in the right direction.

Trading update for last fy will be due out in next week or so based on previous years. Not sure if this will be great news as growth had curtailed off on GIS core business in first half of year although it will be interesting to see what happened in 2nd half of year, how the hk launch has gone and when if ever the synergis bond will launch (it’s been soon now for 18 months on their website).

Only the news that it would appear that ex director’s shares are probably not all sold yet - two large sells and nothing else gone though. Could be others either impatient or other plans for the money but fits with what’s been going on for what seems like forever

It’s not overly surprising - DOR needed money for this new Australian investment. I guess on the plus side it should mean that there is no further dilution that is going to be coming to pay for the c. 1m Australia dollars that they needed for it.

I have mixed feelings on it - it does seem that the HH development is going places, but then I thought that about Brockham and that has been v disappointing. I guess if Dor had decided to hold on to all investments then with the failure of Brockham and Lindsey to deliver further dilution would have been needed to pay our share.

Also, like it or not we are listed in Aus now and my hope is that when this Aus activity begins there will be more interest from Aus investors - at the moment it’s clear that there are plenty of UK investors who want out (myself included tbh) and not many Aus investors who are interested in wanting in to a potential on other side of planet. This may help deliver this.

Or, as you say, it may just be another disappointmen.

There isn’t a lot of trade volume and suspect Davison still hasn’t cleared all his shares - the flip side of the benefit in price rise we saw when he was buying them all I guess. In hindsight would have sold out north of 4p but at the time 1.7p again seemed highly unlikely. Agree that the incessant delays on projects has been exasperating - surely 2019 is the year they begin to deliver something exciting enough to get people interested in investing in Oct.

I’d broadly agree with previous as to reasons for drop - combined with lack of progress in the two projects that would be likely to drive up buying demand leading to the usual aim drift in between news compounding any sales from ex director. The mid years were also not overwhelming and so wouldn’t be encouraging new money to come in. There’s always the risk of something unexpected hidden in the background but if there is then it’s a fairly well kept secret as volumes remain low. I too have started to add a few shares - as and when the two projects finally come to fruition then there should be more interest here and the company is valued at £10m with plenty of cash in the bank, dividends underway and likely annual profit of 1m+ As to buy back - i’d be amazed as aim companies never seem to do it however low the share price goes!

Added a small number today - have to wonder how much further this can fall. From experience it’s usually further than I think is possible and so may be a little premature, but as it’s already fallen further than I thought possible maybe I will get lucky.

10% of hhdl, which has 65% share of hh

Yes the staff cost outflows look a bit lower than previous months - not clear why this is the case

It’s pretty opaque as to how income from the wells gets delivered to dor - given the bank balance as at quarter end there isn’t exactly a lot of wriggle room if costs are high or income lower

It was an ok update - what it did do for me was indicate that nothing likely to move this until some substantive news on hk/bond given growth in the core business tailed off (I would hope to remain at least steady). Until I see a date for either I won’t hold my breath given they have both been going on for an age. A core business that is doing c 1.5m profit pa and paying out a dividend not to be sniffed at - on paper worth more than share price suggests, just doesn’t seem to be great interest at the moment That said, I see there are a few buys today and up slightly, so i’ll Be delighted to be wrong!

Interactive investors iii.co.uk

£20 a trade

Only via limit order/sell though...

Well the quarterly finance figures imply no - small change only left in the accounts! They also imply that no oil coming out at lidsey given only 13k income in the quarter - did I miss something to update market on this material change or is there a significant lag to sales payments receipts?

The forecast for next quarter is positive cash flow - how this is going to be achieved is an open question but if it isn’t then I have to wonder what is next for Dor - so frustrating given the potential of the assets in play!

Having only had the chance to flick through the results, the only obvious disappointment for me (other than why they left it to last possile minute) was final profit figures - was expecting higher but costs for synergis higher than I expected.

It’s nice to finally get updates on the long outstanding bonds / Far East ventures but these really need to move forward now - over a year in the making after all.

My personal opinion based on results is that share price should be in the 3-3.5p range so hopefully will get there soon.

Imminent = this month

As for no axe to grind, really? New account all posts on one share, all negative and most not a lot to do with the business at hand.

Don’t get me wrong, I’m not saying there aren’t legitimate questions to ask - some of the directors have n interesting background to put it mildly and would certainly be a red flag for me if the company was either not already making real profits or was a complicated business model. There are questions on why the Far East / Synergis projects aren’t delivered / updates have been sparse. You could ask if there will be inexpexted costs from these that come through.

On Balkan W for me thie positives outweigh the negatives and my expectation is c. 2m profit after tax. We should see shortly if I am right or not and the effect on share price

Not sure why you have an axe to grind but I hope 13 posts has sharpened it enough for you. Final results are imminent and so maybe save further comments for then.