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For every time increment on the chart, RSI has this oversold. Don't think I've ever seen that on a chart before.

It's like the funds have an eye on how many retail investors are left and their aim is to check them off one by one by pounding more and more bad sentiment until each one has finally had enough and moves on.

Today's SP says DEC has only 3 years left at current dividend, or only six years left by halving it.

Or, members that make up a minority of a toothless committee are going to write a strongly worded letter to the company that is the only one that really could cap the wells, to make sure they cap the wells.

We've done the sums. Things are not this bad.

Sit tight or attempt to trade.....

"DEC do provide an invaluable service & the Americans just don't like the Brits in their territory & want to give them a good spanking. GLA" How does that make any sense ?

It's an American company, taxed in America, listed in America.

Ouch..!!

Is this news driven or have investors/retail had enough, sucking up losses and leaving the apparent sinking ship.

The only new articles over the weekend and today seem to be about the methane leakage fines.

https://apnews.com/article/methane-fee-epa-climate-biden-oil-gas-aed2fca450a4f29235083fc9dfcf8c42

"Methane is a climate “super pollutant” that is more potent in the short term than carbon dioxide and is responsible for about one-third of greenhouse gas emissions. The oil and natural gas sector is the largest industrial source of methane emissions in the United States, and advocates say reduction of methane emissions is an important way to slow climate change.Excess methane produced this year would result in a fee of $900 per ton, with fees rising to $1,500 per ton by 2026.'"

I didn't think this was anything new or unexpected. So sinking ship syndrome or a short attack it must be...

Not great to see this whilst I check in on my investments today.

Great Interview. Highlights for me are the deal will mean tripling the revenue and Seplat are currently supplying about a third of Nigeria's gas needs.

Where's the money ?

Looks well crafted, highlighting DEC as opportunistic solution and not the cause of problematic wells.

In the letter, the committee asks for details of the way Diversified operates the wells and how the Smarter Asset

Management Program works. If this method is exclusive to DEC then surely making this public would allow companies to do the same themselves. DEC would surely not ever share their inner workings publicly. its part of the value that DEC bring. So how could this letter be answered fully and properly publicly, even if it is in the public interest regarding methane leakage control.

Example of the point being made: Google would never say how their search engine program works. In fact they didn't even when the president of the USA itself had them at a hearing asking why an image of Trump appeared in the first line of results when people googled the word "i d i o t".

The deadline was Jan 3rd. Surely we as investors have a right to know, without details, if this letter has been answered.

https://democrats-energycommerce.house.gov/sites/evo-subsites/democrats-energycommerce.house.gov/files/evo-media-document/12182023-letter-to-diversified-energy.pdf

"This message has been filtered, please adjust your filters to view"

Is that a filtered poster that's confusing market cap with asset value / enterprise value / earnings. Maybe they don't know the difference.

Definitely stay filtered.

Good to see FAIR being consistent with their buyback, and high dividends (next ex-div expected mid Feb), starting the new year in the same way they finished the last. What's not to like ))

Hi all.

I think this was several things, a cash injection, a possible way of getting rid of problem wells, those same ones that have been dogging DEC for over two years, which would help appease/avoid the committee which though not having any real teeth, still managed to knock 20% off the value of DEC in a few hours of sentiment.

So.. Lion was a subsidiary of DEC, to be used as some kind of vehicle to issue bonds/loan notes (from the SEC filing) but DEC now own 20% of Lion, after a cash injection of $160m. The deduction then is DEC sold ownership of wells (which given the timing likely to include problematic wells) to investors willing to take ownership of them through owning 80% of LION. I would imagine DEC or the same staff will still operate them.

I'd much rather a steady ship than all this drama and rock bottom sentiment. The next Dividend or more must now be secure with this cash, which should surely smooth things from the next operational update.

IMO

Hmmm... Using Startpage instead of Google bought this up

https://ir.div.energy/financial-information/sec-filings/content/0001104659-23-124384/0001104659-23-124384.pdf

Page 59

C. Organizational Structure

The following table sets out details of the Company’s significant subsidiaries as of December 7, 2023:

DP Lion Equity Holdco LLC United States Holding company 100

Page 1471 or App A-11

“Diversified Holdings” shall mean DP Lion Equity Holdco LLC, a Delaware limited liability company.

Thanks Squeaky19.

Look at the "Managing LOU" about halfway down.

Non-other than Bloomberg Finance L.P

What is going on ? It's for us mortals to think about only.. But at the end of the day, I get the feeling that the hoohaa around this committee will die down.

Bit of a drop today. Probably this :

https://www.heraldlive.co.za/news/2024-01-03-eskom-hit-by-severe-plant-breakdowns/

IMO this will be more than compensated for in the upcoming trading update.

There seems to be nothing about "DP Lion Equity Holdco LLC" anywhere on the internet except, and a bit ironically, a Bloomberg link about a possibly related company called "Lion Equity Holdings LLC". Surely we as DEC shareholders want to know about this company as we own 20%. Was DEC's $40m worth involved in this transaction from new cash we just gave to them or cash already in the company ?

Got to be honest, this sounds like a way around getting rid of problem wells so now the committee need to chase this SPV as well as DEC or even better, instead of, which would be a bit of a master stroke by Rusty on behalf of the company. So yes, your comment @Trek, essentially "The underlying tone of the DEC narrative is total return to shareholders!" is absolutely correct.

Hi Selpec

I've looked at that for a years, and occasionally there is correlation, then the SP moves and there is none.

I've looked at both GBP and USD relative to ZAR, gold price in ZAR, GBP, US$ and it's the same. Basically I came to the conclusion that the market is just fickle, it's pretty much the US$ gold price that has the most effect, even when it moves up and the GBP/ZAR exchanges show no real benefit to PAF.

The main drivers are the basics IMO, gold price, production and earnings.

Production has been very much affected by the power problems

Right now, we're heading back up to 2022 production levels which is amazing considering load shedding.

Eskom problems are back again already after their holiday, as said below, the whole country is moving towards private power and renewables fast, if it's household panels or wind/solar farms or that massive power station ship.

Would we be able to find out if any of the Wells sold were those investigated by the people that informed Bloomberg leading to that video/news ?

Very annoyingly, my SIPP still takes 15% of the DEC dividend. EQi. The loss is significant enough for me to shop around.

Can anyone confirm they get 100% in their SIPP, and which company it's with?

It would be much appreciated to decide which company to move to.

Cheers all.

Another point to make about the asset sale is that some of the problem wells causing the Bloomberg and committee hoohaa may have just been pushed out the door.

Hi mcssupt

Ahh OK, around $70m. They'll get that paid pretty quickly, that will not, and has not smacked the SP to the low levels Elikhulu did. Loot's idea to keep up dividends is a good one. TBH, at that level they could both increase Divs and pay the debt down. I know they're looking into wind farming, Striking a deal with a wind farm power company would be better than owning it perhaps, as without battery storage, power at night can't be obtained with solar, which is when most of the load shedding has been. Anyway..., I don't see this kind of debt level any sort of problem.

Hi damofarl

I admit that I've been favouring TORO in my regular investing and use of dividend income since the gap increased between NAV and SP.

The standout highlight for me was of course the the €26m income (over 8 cents per share) compared to the previous years loss.

On page 52, I found it refreshing that all the expenses except Audit fees were lower than last years. It says much about the directors attitude with respect to responsibility to us holders IMO.

It's impressive to see the income driven from Taurus, page 13.

An increase in the directors holdings wouldn't go a miss here but overall I'm happy to hold through, and collect these attractive dividends.