Member Info for greygeorge

Mmmmm.

No thanks.

So clueless, lol.

No notrex, it's just that you have so little.

You have nothing notrex, lol. I actually feel sorry for you, you have no thoughts, no insight, nothing. 😘

Yeah, you're the terrier that caught the tyre, lol.

'...Maybe they decided that a 17% discount factor was the correct one to use given the circumstances?...'

Go on, I'm listening.

I don't know, that's why I'm asking you.

Notrex, seriously, why didn't DEC use the industry standard, investor accepted formula of PV10 ?

'...Greygeorge, if you google a little bit, not too much mind, you'll find that the PV xx can be any discount factor deemed reasonable for the scenario. PV20 is mentioned as well as the range PDP PV10 to PV20. PV17 gives a lower Reserves NPV than PV10 so more prudent...'

And THIS is why you'll never see the con you're invested, lol.

LMAO, clued - '... greygeorge, from recent fin stats "highly synergistic and accretive acquisition of oaktree interest...'

The 'oaktree interest' is the same deposits in the same wells in the same fields running through the same pipes as DEC existing assets. The only 'synergies' to be realised are that they only have to fill in one sheet of paper for daily production instead of two sheets of paper. 🤣

I mean, clued, this IS WHAT PV10 is. It's why it's used, and why it's an industry standard. Yet you think DEC is somehow special, that it has a magic formula to help it calculate reserves ?

'...PV10 is a method of estimating an energy company's potential future earnings based on its proven reserves of oil and gas, using a 10% discount rate.

It is based on engineers' reports of the estimated costs and revenues that each oil deposit or reserve may produce.

PV10 is widely used by stock analysts and investors as a measure of an energy company's market value...'

'...Greygeorge, Yes, why not make it PV19 or PV27 thereby increasing the Reserves ?!! PDP PV17 uses a 17% discount rate rather than a 10% for PV10...'

Under what accounting principle did they do this ? I mean, surely they wouldn't just make up that number, right ? Right ?

'...You agree then? Lower gas prices and lower DEC are not unrelated...'

I agree that DEC has many, many problems.

Stifel is the house broker, it's paid by DEC to recommend their stock. Aw come on guys, you're not really this stupid, surely. You're just winding me up now. 🤣🤣🤣

'...Greygeorge, Rolls Royce was"worth" c 75p per share a few years ago... look at it now !!..'

Clued, BATS was worth £45 a couple of years ago....look at it now. WTF, Clued ???

Clued - PV17 DOES NOT exist ! Why not make it PV19, or PV27 ? What criteria did they use to base their valuation on a PV value of 17 ? It IS NOT REAL !!!

'...I cannot believe the spot price dropping 80% has had no impact on valuation anyway...'

Yeah, DEC has held up remarkably well this last twelve months. 🙄

Clued - So, what is PV17 ? Why are they using a fictitious formula, based on nothing that any other business in this industry uses ? Don't copy and paste, explain this magical mythical number to me, please.

But Blacksteel almost all of DEC output was forward sold, so they were actually losing money on those contracts at that time, for accounting purposes. So, what's the data point you're referring to ?