Member Info for greygeorge

'...I came here to have a dialogue on DEC and the reasons for the precipitous collapse in the share price...'

How can you have any sort of meaningful dialogue when it's not even know what assets and reserves this dog actually has ?

Has ANYONE come across a competent persons' report for DEC in the past four years ?

ENOG, GKP, even a company called UJO, to name just a few, have issued a 'CPR' for this year. DEC - nothing. Not sure you can estimate anything without an independent evaluation of reserves.

Rrb1, have you come across a 'competent persons report' for the reserves DEC claim to have ? The last one I can find is for 2020.

Fill yer boots, trek baloney ! 🤣

'..Still no sign of the pocket money you got scammed out of then? Gormless or what! LoL..'

That would be a 'no' then.

Ahhh, noterx, just the man ! Did you ever notice the amount of shares blackrock have loan to shorters ? It's been in their TR-1s for a while, but I only just noticed it. You being the resident self-appointed expert on shorts, did you know about that ? Maybe you've commented on it on the past, and I missed it ?

Winners generally get on with what they do well, not run around from board to board like an excited puppy leaving little puddles of pollution, trek baloney. 🤷🤣

Section 8B1 of todays' TR-1 refers, if anyone is interested.

I se from the latest filing they're lending 2.5% of the total issued shares to shorters. Maybe you should all follow their example ?

Yesterday was such a pleasant day on this board, actually had some decent posts apart from the usual qanon adherents. Today, the morons - and the rest of qanon - are back. Oh well. 🤷

Ah, I see trek baloney has raised his head again, reaching into his bottomless pit of cash yet again to top up. 🤣

I guess he was busy winning the latest club championship at the local course this past few days, and signing autographs of his adoring fans. 🙄

'...well let’s hope dec can utilise the newly acquired 170,000 acres of which they can sell non-assets for a few 100 million to 300 million quid to shave off the debt...'

dazzle - how much of this land o they actually 'own', do you suppose ?

'...Either Rusty should go for all our sakes or should give us a plan which includes BBs, asset sales, debt reduction and perhaps AROs, we already know he has frozen the dividends for years ahead, at present it looks like the BBs are just fire fighting the latest carnage he caused. However given Trusty Rust's track record I am not certain anyone would believe a word he says except I want more wells...'

Terry, why should rusty do anything for all your sakes ? His background is oil and gas, and finance. He's out to make money for himself, he's really not into philanthropy. You all served your purpose, now you're nothing to him. 🤷

'...As the name suggest short are that short term, eventually they need to close and they will have to buy back I actually surprised they chose not to in the last round of drops...'

Wow tazed, thanks for that insightful description of what a short is ! I'm sure we all feel so much smarter now for reading your wisdom !

And you're right, what a bunch of amateurs, losers, clueless fools those shorters are !!! They'd do well to learn from a smarty pants like you, I'm sure !!! 🤣🤣🤣

Pickedpeck, no, no bets on the buyback size. the only reason I commented on well shut-ins was because you brought it up, so ending that line of thought suits me. The share price had dropped over 30% in the past 30 days - it had to take a little break on it's slide to zero, lol. But yeah, could have been worse.

'...I'm looking forward to receiving my dividends from the shorters lol...'

So, MalcolmJ, you've been 'lending' your shares to shorters ? Naughty !

'...GGG - the master of saying in quotes what somebody said previously. Seems a CSE in 'cut-and-paste' is his core qualification? Shame he was stupid enough to lose his pocket money - such an enduring distress to him. LoL..'

No doubt.

Wellll...it had already dropped by more than 30% from £12.85 on 31st July to £9.34 yesterday, but yeah...could have been worse. 🤣

Don't shoot the messenger, pickedpeck, I'm just quoting from that link.

'...Shutting in wells is one of the more drastic approaches to take in response to adverse market conditions. For higher performing wells, shutting-in may be a strategic decision to temporarily keep reserves in the ground until sale prices rebound. For lower performing wells, shutting-in is more likely to be an operational necessity, especially if the operating costs for maintaining production outpace the value of hydrocarbons produced. In either scenario, there are risks to the productivity of the shut-in well. The results of this analysis indicate an average 22% increase in water rate, a 25% decrease in oil rate, and a 31% decrease in gas rate. There are many possible explanations for well performance degradation, from skin build-up to reservoir fluid and pressure equilibration. Still, the goal of this study is to focus on the measurable outcomes to economically viable well production after a shut-in...'

'...The reason to buy now would be because DEC has the capital to operate them, or even just shut them in for that matter, until gas prices recover at which point they could create new hedge contracts at preferable prices...'

These are all pretty bad reasons to buy now, pickedpeck. Apart from shutting in being potentially disastrous, and definitely damaging (see link below), they're paying dividends if they're not buying those shares back, and interest on the borrowings. All in the hope of jam tomorrow.

https://www.tgs.com/well-intel/how-do-shut-ins-impact-well-performance#:~:text=For%20higher%20performing%20wells%2C%20shutting-in%20may%20be%20a,maintaining%20production%20outpace%20the%20value%20of%20hydrocarbons%20produced.