Member Info for greygeorge

Yep. This board, like DEC itself, attracts all the nutcases. 🙄

Tell you what pikcedpeck, why don't you point me to the SEC requirement that AROs be provided in a companys' accounts ?

Then point me to the exact formula they insist a company uses.

Let's see which of us is actually full of BS.

I mean, they use one formula for reporting emissions for pubic consumption, but an entirely different, much more stringent formula when reporting to the EPA. They're happy to provide two wildly differing sets of data, they could do the same for ARO reporting to the public. But...no...it doesn't suit their purposes, and it seems you're fine with that, lol.

'...They are literally not allowed to use NPV in their company reports no that have to be submitted to the SEC no matter what your opinion is.

You also plainly don't understand what NPV is and what it is used for either...'

They could literally use the industry-preferred and much more accurate NPV formula, if they wanted to be transparent. As I'm sure you know. Or maybe you don't.

Pickedpeck, you ALWAYS do this, you post something misleading or dishonest, you get called out on it, then you resort to personal insults and a declaration that you're not going to waste any more time on the subject, lol.

Nope, I stand by my misleading / fraudulent description. I stand by my assertion that NPV would be the most accurate forecast of the true cost ARO, but if DEC used this NPV as the formula, even the mugs on this board would have to take notice.

Anyway, you brought the subject up, I called out your misleading assertion that DEC were being open and honest in their reporting.

'...That's either because you didn't know and quickly turned to Google or want to try and create some sort of negative perception using BS as your tool...'

Not at all. I've commented previously about how DEC play fast and loose with PV10, PV17 valuations.

Lol pickedpeck you're going to be here for years waiting for break-even....if it ever happens at all. But you carry on defending this dog to the death. No matter what the facts show. 🤣🤣🤣

No, pickedpeck, see, PV10 is the most advantageous estimate for DEC in this instance, so they ignore the more accurate NPV estimate. they also use PV17 when it suits their purposes. An honest company doesn't pick and choose the formula that suits their narrative. It's - what's the word - misleading ? Fraudulent ?

'...When evaluating oil assets, it is important to consider both PV10 and NPV. PV10 provides a snapshot of the estimated future net revenues of oil and gas reserves, while NPV takes into account the time value of money and cash flows over a period of time. Therefore, a combination of both metrics can provide a more accurate evaluation of the profitability of an oil asset. However, if forced to choose between the two, NPV is the better option as it provides a more comprehensive analysis of the profitability of the asset.

PV10 and NPV are two important concepts used to evaluate the profitability of oil assets. While PV10 provides a snapshot of the estimated future net revenues of oil and gas reserves, NPV takes into account the time value of money and cash flows over a period of time. Therefore, a combination of both metrics can provide a more accurate evaluation of the profitability of an oil asset. However, if forced to choose between the two, NPV is the better option...'

I like the Quindell story, it's especially relevant for those here who think if the likes of MNG are invested, it must be a gold standard company, lol.

'...Quindell shares fell another 13.5 per cent on the news to close 11.25p down at 72p. The Fidelity sale shunts M&G, owned by Prudential, into the position of being Quindell’s second largest shareholder after Terry...'

https://www.thisismoney.co.uk/money/markets/article-2833505/The-Quindell-quagmire-Saga-firm-centre-share-sell-goes-on.html

In the case of Carillion, shorters spent five years waiting for what they knew was inevitable.

https://www.bbc.co.uk/news/business-42744949

Actually pickedpeck, if you read the article, the mention of Gamestop serves to prove how much more careful hedge funds and shorters are in the positions they take since the short-term hammering they took in that meme stock.

Globo is another example of the value of shorters in revealing fraud.

Here you go, a little article on the virtues of 'short attacks'

https://www.cnbc.com/2021/02/23/short-sellers-help-stocks-find-their-true-values-and-expose-fraud.html?msockid=0abc2c85969761a105a63fc997b060f6

'...That’s because, despite the negative sentiments toward it, short selling plays a pivotal role in the market. For instance, short selling allows for more accurate price discovery, a key function of stock markets.

“If it wasn’t for the short sellers, there’d be a lot of long shareholders buying and bidding up stock that really had no value,” Dusaniwsky warned.

Exposing fraud

Short selling has also allowed for early detection of fraud.

“There are companies that are potentially not doing the right thing, engaging in fraudulent practices, and shorting a stock oftentimes brings some of those things to life,” according to Jason Snipe, founder and chief investment officer at Odyssey Capital Advisors.

“People don’t get upset when they’re making money on the upside. They look the other way on bad corporate behavior,” argued Jim Chanos, a prolific short seller in the U.S. market. “But when people start losing money, boy do they get upset.”

However, in light of recent events, experts warn that social media and “meme stocks” could bring about changes to the practice. And recent data shows hedge funds have dramatically curtailed the activity because of the threat of getting caught on the wrong side of the trade from a retail mania...'

'...First test point for me continuing to hold is March...'

I notice you declare a month, but not a year. 🤣

Oh, almost forgot pickedpeck. I 'm sure Blackrock, MNG, et al, are collectively patting themselves on the back having bought in, and added, at £25, £24, £23, £22, £21, £20,£19, £18, £17, £16, £15, £14, £13, £12, £11, £10, £9 and £8 over this past couple of years.

Pickedpeck, what is the share price today ? What price was it at when you started defending it ? 🤣🤣🤣

'...Oh an whilst you are at it the HH spot price at the time... Might also be useful...'

Pickedpeck, I don't need to do anything, I don't need to justify my belief of where this company is heading. I've been right for almost two years. you might feel the need to justify clinging on here, I'm more than happy to enjoy your misery.

'...George, when they reduced the dividend the yield was over 30%. The share price fell well before they cut the dividend...'

And seriously pickedpeck ??? this is what happens to every legit company, am I right ??? Totally normal, everyday stuff. 🤔

'...Oversized because I am sure any US institution would rather (for tax treatment reasons) they retained more of the cash and and directed it to either buy backs or growth, but preferably both...'

And which of the above has DEC achieved, pickedppeck ? It had to borrow and had to dilute its' shares in issue by a further 5% for its' last 'accretive acquisition', as for the buybacks - 🤣

And what's the betting in the next update, another chink of 'revolving credit' will have been swallowed up and converted into some form of long-term loan. Another rinse and repeat.

Now, if profits are being overstated, THAT could result in an oversized dividend, for sure.