Member Info for greygeorge

Sorry, said 475 million of new debt, should have said 525 million of new debt in a year.

Meconopsis, interesting to read your thinking on what the SP should be, I've always thought of a range of 100p - 130p more realistic, if this were a fully transparent company.

But another day, another puzzle pops up. Back last November the Trading Update stated that the revolving credit facility had been converted into a sustainability linked loan, in the amount 100 million dollars. So, having gone from a rejigged rcf from 100 million to 0 in November last year, this year it's gone from a new base of 375 million in Feb to 425 million in the last update. which, if lumped with the rcf it 'converted' to that ssl last November, adds up to 475 million of debt accrued in less than 12 months. Trying to figure out what DEC is up to, it's like a constant shell game.

Sorry, came to say good luck with your re-investment, Meconopsis.

I'm frozen in indecision. I've seen so much that screams to get the hell out, but there's always that slim chance I'm wrong, that everything I've been led to believe is wrong, and this might just be a deeply misunderstood company. I'm hoping that it can crawl up to 98p, I'll happily sell the majority if this happens, and sit back and see where it goes. God, I hate this company.

I mean, you sound similar, joined within a few months of each other, and only post about DEC. Hmmmm.

Pikeman - '...As I have said before this is a "publicly traded private equity fund" beyond the comprehension of most ...'

JDCBC - '...then cash flows are debt free, like a private equity investment, that is literally what they do ..'

Pikeman - '...As I have said before this is a "publicly traded private equity fund" beyond the comprehension of most ...'

JDCBC - '...then cash flows are debt free, like a private equity investment, that is literally what they do ..'

Are you two the same person ? 🫢

JDCBC. Let's set aside whether DEC will still be around in 5 - 7 years. Let's say everything is tickety-boo. You state '...so you have high debt repayments over 5 to 7 years and then cash flows are debt free...' At the 7 year mark, there'll be a lot of wells beginning to need to be retired, so it's hardly the land of milk of honey as far as cash flows go now, is it ? Debt free, maybe, but liability free ? I think you over-simplify the business model to suit your own hopes and dreams.

Saga999, AS I ALREADY SAID :

'...So, basically, it's just a bunch of wishful thinking on your part, then - the carbon capture I mean. There's no way DEC could make a penny off it, not in the next decade at least.

As for solar, yeah possible...'

So, basically, it's just a bunch of wishful thinking on your part, then - the carbon capture I mean. There's no way DEC could make a penny off it, not in the next decade at least.

As for solar, yeah possible. But if you're looking at additional income sources for DEC, why not get Dusty and the directors to get a side-gig, like uber or something, and put their earnings into the pot. You'll see returns from those (uber) efforts far in excess of the schemes you've dreamed up so far.

Saga999, I think you post on the ADVFN board under another name, as there's someone on there bangs on about Carbon Capture too. Ok, one question for you : How do you get the carbon from the point of creation to the point of long term storage ?

JDCBC - Fair enough.

Lol, NO ! ~ means approximately !

Lukee -

'...Cash Dividend Example

Consider a company with two million common shares that declares a cash dividend of $0.25 per share. At the time of the dividend declaration, the company records a $500,000 debit to its retained earnings account and a credit to the dividends payable account for the same amount.

After the company pays the dividend to shareholders, the dividends payable account is reversed and debited for $500,000. The cash and cash equivalent account is also reduced for the same amount through a credit entry of $500,000.

After cash dividends are paid, the company's balance sheet does not have any accounts associated with dividends. However, the company's balance sheet size is reduced, as its assets and equity are reduced by $500,000...'

You're wrong. If this were the case, the RNS would have stated it as such.

No, you're wrong, the dividend has not been drawn on the account yet, the RNS clearly states - '...resulting in current liquidity of approximately $120 million...'

18th May 2023 - '...The Company received 100% approval from its 14-bank lending syndicate of the facility's $375 million borrowing base, which is structured as a Sustainability-Linked Loan ("SLL") and aligned with the Company's commitment to continuous ESG improvement. As previously announced in its first quarter trading statement, the Company ended the quarter with ~$110 million of liquidity. ..'

26th September 2023 - '...The borrowing base under the facility was increased to $425 million from $375 million with 100% approval from Diversified's 14-bank lending syndicate, resulting in current liquidity of approximately $120 million...'

So, an INCREASED borrowing base in six months of 50 million dollars, resulting in an increased liquidity position of ONLY 10 million dollars. Any ideas, anyone ?

Https://www.washingtonpost.com/climate-solutions/2023/04/11/plugging-abandoned-oil-wells/

I think The Trotsky, has me blocked, Could someone ask him from his quote '...Also, it should be noted that in FY22 DEC paid $134m in hedge modifications (about $124m more than FY21) "... primarily assocated with elevating the Group’s weighted average hedge floor to take advantage of the high price environment experienced in 2022 over a longer term ..." (Note 14). I.e. DEC paid to modify existing future hedge contracts to take advantage of the higher spot price in FY22 and thus secure higher prospective revenues in future years (the cost, but not the revenues, being recognised in FY22)...'

If DEC has paid 124million dollars on modifying its' hedging contracts in one single year, then WHY has it done so ? the whole ethos of the company, I thought, was certainty in future revenue and profits by securing the future sale of gas that would give the lenders as well as the shareholders certainty that a profit would be generated in future years sufficient to finance the existing debt as well as paying dividends.

Also, 124 million dollars to 'modify' hedge contracts ? Remind me. How much revenue (forget about expenses and outgoings, just what DEC brings in each year). 970 million ? You don't think, TheTrotsky, that spending over 14% of a company's REVENUE on hedging 'modifications' isn't worthy of questioning?

You're right, Lukee, I'm sure. Although it has been the case in the past, certainly with ii and a couple of other companies, that the dividend payments have been late by a day or two in getting credited to our accounts. ii has stated they receive a cheque from the company.

Alessandro, you're right, of course. I still have the smallest glimmer of hope though that everything I've been told, and what I've seen, is wrong. I suppose I've resigned myself to losing big on this one, and just hope it will come good, despite all the evidence to the contrary.

MrG123, maybe you're right. Maybe they've increased the borrowing facility for a very good reason. Any ideas ?