Member Info for greygeorge

Aceofclubs, tell me, who said this, back in October 2023 ?

'...In 2024 the cash demands of the ABS Notes amortisation will decrease. But will it decrease more, or less, than the free cash flow decrease brought about by lower hedging prices and falling output? If it's less then they borrow on the RCF to pay off the ABS. I can't remember clearly but I think their might be some wriggle room on the repayment schedules for the ABS Notes.

The ABS Notes are non-recourse to the company on default but I am sure the bondholders will be more than pleased to seize the assets and offload at a nice margin; Chapter 11 if you like by the back door.

From the published information at 30 June this is my interpretation of the numbers. I have seen nothing subsequently to change my opinion. DEC is in a tight cash position - it requires recognition and action - cut or halt the dividend. It doesn't matter short term if the share price is 75p or 35p. The risk is the ABS holders snatch the assets - I do hope they are not friends of Rusty...'

'...AceOfClubs Opinion: Weak Hold - A comany not in control of its own destiny...'

Greygeorge Opinion : Get over yourself. 🤣🤡

You'll love this one pickedpeck, me again, from 3rd Jan 2023. I was very much PRO DEC back then. BUT shortly after, I found the fraud.

'...1knocker, I have to admit, I've always been sceptical of oil and gas companies. I remember a few years ago, laughing at 'Afren' fanboys and girls who were rabid about the prospects for that company. Allegedly, Afren had some magic oil wells that could produce oil at a price far lower than any of their competitors. Of course, they tore into anyone who pointed out to them that there was no 'magic oil' production. It wasn't just Afren I've seen come and go, but that was the most fun to see mugs lose their money.

About 18 months or so ago, I came across this board, and one of the first posts I read was from lab305, bemoaning the hedging strategy, and DEC management in general. Hello, I thought to myself, we have another company fleecing investors, and this poster obviously has seen the fraud they're perpetrating on these poor investors who just can't see it. Let's go take a look. I have to say, I can't find the scam. Just a poster, maybe a couple of posters, who are disappointed that the conservative management of this company hasn't fed their desire for a quick profit at the cost of a medium term liquidation of a company with a 'magic gas' formula.

So, yes, I'd be in for a few more at sub 110p...'

Pickedpeck, you are indeed correct, when you state '...for those in any doubt, george first posted in 2021 about dec. 2 posts about the dividend. then one more in 2022. also about getting paid the dividend slowly. like it was dec's fault rather than the broker sitting on it for a couple of days. three posts in 7 years? must have actually had a job then.

then in september 2023 our resident fear monger kicks off the almighty campaign against dec with every possible scam possible being alleged at some point, but always coming back to the chapter 11 theme...'

But I moved here only after getting thrown out of the ADVFN DEC chat forum, here's one of mine (same name - greygeorge - on that board too) for going against the cult, dating back to 6th March 2023 when it was becoming evident that the con was beginning to play out. up to that point, I was quite a faithful follower of DEC, as earlier posts on there bear out.

'...bothdavis, maybe I'm just offering a realistic view of how things work. If something seems too good to be true, it's often because it is too good to be true.

For example why did Rusty list in a foreign country when his own country's stock market is such an excellent tool of capitalism. Why doesn't anyone who actually understands the oil and gas industry pile into this company, scooping up a 14%+ yield ? Those who are in the know are treating this company like the next Enron rather then the next Exxon ?

This Tanos II deal stinks, the accounting methods of DEC stinks, their numbers are laughed at in Houston, as are the mugs who've piled into this mythical unicorn.

A lot of people here see Rusty as some great philanthropic ex-financier-turned oil and gas genius who's looking out for us little guys, paying big dividends while giving us all the opportunity to snap up issues at great discounted prices - but gotta be quick, 8 hours to sign up or you'll lose out, don't be the sad shmuck who misses out.

Really, how many Texans does anybody here know who are generous and would rather spread the wealth with a foreign investing pool than with his own people ?...'

'...yada yada yada george. don' you get tired of repeating the same bs endlessly?...'

September 2023 - £17.50

March 2024 - £9.50

September 2024 - £8.50

No, I don't get tired of having facts proving me to have been correct, pickedpeck.

I mean, it can take at least five years, and that's after the company collapses.

https://www.bbc.co.uk/news/business-41414413#:~:text=It%20is%20being%20claimed%20that%20the%20alleged%20fraud,position%2C%20and%20two%20separate%20counts%20of%20money%20laundering.

'...If those who believe that the management of DEc are being somewhat limited with the truth and are presiding over a scam company, surely would this mean the directors would be looking at a considerable jail time...'

The only potential complainants would have been Oaktree Capital who were offered - and accepted a sweetened exit package. The bondholders are getting paid, the only potential victims group - the shareholders - as you can see from this board, as far as they are concerned ignorance is bliss. So, no harm, no foul.

Looking up today - 6 filtered posts since 1200 - share price bound to rise this PM.

Jim, yes, fascinating how much posting my 2 filtered do !! I've been so tempted somtimes to have a peek, even a teeney weeney one !!, at the contents, but no no no..... !!

Do not bother it all the same junk lol

Living rent-free in their heads, even when filtered, lol.

'...The dividend cut is great for DEC and investors. 2/3 cash back into the business rather than being removed...'

Now you're just being silly, MrG 🤣🤣🤣

English certainly isn't tazeds' first language. His past posts show a propensity to invest in Russian companies.

'...The fallacy here is that you are blaming DEC's problems on shorts and hoping for a short squeeze, somehow thinking that will solve all of DEC's problems...'

I mean, a short squeeze could happen...BP, or Shell, or some Middle Eastern sovereign wealth fund could, even as we type, be considering swooping in and grabbing this goose with all them golden eggs...🤣🤣🤣

'...Greygeorge...Remember when several of the board posters smugly said "I'm with Howard Marks..."...'

Honestly, Rrb, I thought they were referring to the legendary Welsh drugs dealer. And I still think it's that Howard Marks that they refer to, given the detachment from reality almost everyone posting here exhibits. 🤷

'...I just thinking imagine is stock over 10% shorted imagine the amount that need to be bught back, or short really need to start praying this go to 0, as can see short squeeze coming...'

to zero

Tazed. why would the shorts need this to go to zero ? I explained less than a week ago how one of them would have already made a nice little profit in just the past two months. Look, I know kit's complicated, but please try to understand how things work.

'...Rrb1981...The only person who agrees with you is GG, says it all...'

Oh, Terry, you sad deluded little man, look at the FACTS. I think you'll find it's not just me that agrees (in most aspects) with Rrb.

September 2022 - £26.00

9th February 2023 - Tanos II Deal Announced. The fix is in, and is exposed by me on this board.

March 2023 - £19.00

September 2023 - £17.50

March 2024 - £9.50

September 2024 - £8.50

Just to reiterate :

September 2022 - £26.00

9th February 2023 - Tanos II Deal Announced. The fix is in, and is exposed by me on this board.

March 2023 - £19.00

September 2023 - £17.50

March 2024 - £9.50

September 2024 - £8.50

'...LutherL33, "What is your real reason for being here....." Many of us have filtered the two subjective derampers on here - greygeorge and Rrb1981 - as they rarely provide any backup for their arguments and continue regardless, wasting everyones time...'

Now, of course clued can filter whoever he chooses to. But that doesn't change the facts.

September 2019 - £22.00

March 2020 - £16.50

September 2020 - £21.00

March 2021 - £23.50

September 2021 - £23.00

March 2022 - £23.00

September 2022 - £26.00

March 2023 - £19.00

September 2023 - £17.50

March 2024 - £9.50

September 2024 - £8.50

Jim's pretty much nailed it with this statement :

'...There are a mix of opinions, facts and nonsense on here.

If posting facts, most contributors will add a link or quote a reference. Eg Directors nuts, results, buybacks etc.

Most people posting opinions will say as much and try to explain how they extrapolate a fact to form an opinion. Eg HH futures up so should be good for SP...'

I think the SP sums up the nonsense posted by rampers of this company. Let's take a look at how it's performed over the last 5 years :

September 2019 - £22.00

March 2020 - £16.50

September 2020 - £21.00

March 2021 - £23.50

September 2021 - £23.00

March 2022 - £23.00

September 2022 - £26.00

March 2023 - £19.00

September 2023 - £17.50

March 2024 - £9.50

September 2024 - £8.50

'...This is the only stock I watch religiously...'

No pun intended 🤣

Luther, this company has attracted a cultish following. Even for a backwater place like this, it has attracted a bunch of zealots who are going to blame everyone for their misfortunes when this dog gets put down.

'...As I have mentioned before, the second shoe has yet to drop. And it is coming. Rusty knows he's been caught, and his only chance of long-term survival is to keep acquiring assets outside of Appalachia...'

I hate to disagree with you Rrb, but I still maintain Chapter 11 is a real possibility within the next twelve months. DEC has already ringfenced a group of wells to protect them against bankruptcy to ensure the board are able to pay themselves a very nice salary during their time in Chapter 11. then DEC will emerge, without the burden of dividends to pay shareholders...well, pretty much without shareholders to worry about at all, lol.