Member Info for greygeorge

'...Hey George. I have to ask, are you invested in DEC? How much of a loss are you sitting on?...'

I suggest you check out my previous posts. I know reading isn't a big 'thing' on this board, but give it a try. Make your mother proud.

'...Georgi, you appear only able to criticise the thoughts of others and offer absolutely nothing of your own either positive or negative. That's either because you don't have any of your own thoughts, or those that you do have are not credible enough to share...'

I suggest you check out my previous posts, I have PLENTY to say about DEC.

Rusty's expecting this share to hit $4, that's the point at which DEC would be delisted in the US. Hence having to consolidate at 20 to 1, he knows this is headed down, and out. If he were convinced of the long-term value of this company the consolidation would have been 5 to 1, or even 10 to 1. 20 to 1 though ? Opening in the US at about $16, he's sure the company is going to be valued at a 1/4 of that value, when US investors start looking seriously at this basket case. Meantime, he's just milking the British mugs for whatever small change you've all got left. He's got you mugs convinced he's a genius....Maybe he is. *Giggle* .

Yes. 😊

Someone should write a play 'Waiting For Rusty'

This board always cheers me up. Between the 'used to be' futures traders here, the 'DEC can make money stuffing carbon in their empty holes' oracles, the 'things will be much better next week when...' misguided optimists. Or the 'well, in 5..6..7..8..9 years time I'll get my money back through the dividends' Newtonian mathematicians. Who have I missed ? Oh yeah, the 'well DEC follows / DEC doesn't follow the prises and falls in spot NG prices' analysts, the 'the market doesn't understand DEC like we do' closet Warren Buffets. I know there's a few I left out, my apologies if I overlooked your particular pet theory.

LOL !!! Yeah, go figure. A company considered a disaster in one country is a company considered a disaster in another country. How on earth could that happen ? LOL !!!

The only upside in this share is the mindless comments here. El Nino will save us...carbon capture will save us...the solar panels they're gonna install on the land the wells are based on will save us...the dual listing will save us...Mercury entering Venus in the house of the upturned turtle next February will save us. We'll cap a million orphan wells with the DEC team of ten umpalumpas working for sugar lumps will save us. Ad infinitum. Lol.

DEC states '...Due to NYSE requirements, prior to the US Listing taking place, the Company will effect a consolidation of the Company's existing ordinary share capital at a ratio of one new ordinary share of nominal value of £0.20 each for every twenty existing ordinary shares of nominal value of £0.01 each (the "Consolidation")...'

So, 20 x 70p would give a value per share pf £14 ($18). BUT NYSE rules state that shares must have been trading at least $4 (£3.07) prior to listing, so why make it a 20-1 consolidation unless DEC is expecting the share price to drop by a massive amount on the UK market when it lists in the US ?

For the sake of argument, if the company is valued at £1 billion, it's still only worth 1 billion wherever it lists, so if it chooses to sell and receives £0.5 billion on the US market, the either 1) the 'new' company is valued at £1.5 billion by the market in total, or the UK listed part of the 'new' company is devalued by £0.5 billion. Looks like DEC is expecting the latter, hence a 20-1 consolidation instead of say a 10-1 consolidation which would still leave plenty of room for a fluctuation in UK share price while the US listing goes ahead.

I'll be happy to be shown what I'm missing here.

The end of the world is near ? What a simple fool you are, MrG123. Believe me, the world will carry on for billions of years yet. I mean, I'm not even sure what would constitute the end of the world. I suppose there's a point at which scientists would consider the world to have come to an 'end', but what that has to with any particular company being discussed here or anywhere else, I just don't know.

Honestly, this latest bit of shenanigans is quite the wrinkle. I've got nothing, but will be interested to see where and when and how, exactly, the shafting comes.

GavsterNBC - '...Do US Residents pay tax on their dividends currently ?...

It depends. Are you asking about Fed, or State ? If State, depends on the State. Here's a link for you, for FED treaement of dividends. Pretty self-explanatory, really.

https://www.investopedia.com/articles/taxes/090116/how-are-qualified-and-nonqualified-dividends-taxed.asp

TerryM1 - '...I can understand the move as the UK is not a good place to be listed any more....'

Ah yes, the wifebeaters' excuse. - We deserve it, because...

Come on guys, you're supposed to trust the plan ! Lol.

Decreasing debt ? Lol. You do realise they've converted short term revolving credit into long term debt all the way through this past year, don't you ? Decreasing debt...lol.

'...We keep looking, and we're all none the wiser...'

Yes, it's such a mystery, isn't it ? Lol.

Really Metalhead, you should use a little bit of intelligence when reading my posts, rather than indulging in ignorant idiotic literalism. I see a few others are stooping to this level too. Maybe there's comfort for you to find taking that path though. I thought you were smarter than that. I was wrong.

'...When the Nov23 Trading Update is very good, do you promise to leave this bb ?...'

You mean '...when analysis of the Trading Update is that the update is very good..', right ? After all, of course the company is going to tell you all everything is excellent, and you're going to believe whatever they tell you to believe.

But yes, if all is good, and everything becomes clear, and they state that the dividend as a result is at least maintained, or raised, then yes I will leave.

There's also evidence in the share buybacks, they have to be paused as DEC tries to manage its' cashflow. On days where NG spot hits 3.2, DEC can't afford to buy spot contracts for delivery as well as allocating cash to buyback. There's always a slight delay of course in suspensions, as there are in cash inflow, cash outflow. But it's all there, if you open your eyes to it.

The Trotsky, the numbers are the evidence. The past couple of weeks' continued falls, as NG spot prices rose, todays' rally as NG spot prices level off and signals a drop. Maybe when the November update comes out, even those who refuse to see what's right before their eyes will have to come to terms with the massive 'hedge modifications' that are going to be revealed. And this quarter, the figures can't be hidden by acquisition murkiness. But by all means, carry on buying and holding oh faithful DEC fans, I might still be able to get out before the inevitable collapse.