Member Info for JC01

Wise aren’t delisting just going primary in the US . As I mentioned b4 DEC have to go US primary listing this year due to the significantly higher shareholding now in the US.

If DEC delist entirely we go on the US market. They may just go softly softly with the primary listing in the US but you can see where it’s heading and it will be a natural turn of events to eventually delist from the Uzk entirely imo

Online payments Wise moving its main share listing to the US. Another blow to this dreadful UK market. Only a matter of time b4 DEC goes. No value here any more and all BB’s now in US. It’s all heading that way .

Terry,

The saying “When the facts change I change my mind” very much apply. Caused by everything we have talked about. Like you I bought into DEC a long time back based on a strategy that made healthy returns for shareholders. I was a very positive voice at one time and complimentary about Hutson. Those promises failed to materialise due to Hutson’s lies, utter mismanagement and appalling arrogance in his poor comms.

I have written constantly to IR and never had a reply. I have phoned HQ and been stonewalled. I have phoned and emailed house brokers and analysts holding them to account. I even attended an AGM. All to no avail. I have done more than any small investor to hold Hutson to account. And all I hear is I moan and am negative. Frankly my dear I don’t give a damn 😂. The appalling SP performance speaks volumes on my behalf.

MrG,

This is going nowhere until 12th August Q2 2025 Earnings Release (Projected). The market can then better appraise the Maverick integration and what Hutson has done to release Shareholder Value in the business.There is absolutely nothing else going on to regain momentum here apart from BB’s just to keep it going sideways. IMO even the approved BB programme for this year isn’t going to repair the damaging dilution and botched fundraise.

Hutson needs to sweat the assets, make strategic land sales , generate organic growth , pay down more debt and make it very clear to the market no more dilution until shareholder value fully restored.

Worya,

Volumes have been consistently dropping.

The last time I checked the timeframe is in the 3rd Qtr every likelihood the US will become the primary listing.

The UK market adds nothing to DEC any more as circa 70% of shares held in the US and growing , all financing raised in the US plus Operations and Headquarted in the US. They may not even go Primary listing route and just de-list and save the cost and hassle. IMHO

Terry,

They can’t handle the truth 😂

Terry,

How we need an Activist Investor.

You’re wasting your time and energy trying to educate the sycophantic excuse makers . They have no idea how to run a business or understand shareholder value. It’s an anathema to them. Bored listening to their reasons for failure 😣

Terry,

Classic OB 😂

The sycophants can’t handle the truth. I doubt they’ve ever had to run a business. The CEO is responsible for the SP performance. They are accountable to their shareholders . Can you imagine the outcry if a FTSE 100 Company crashed the SP like Hutson has. They wouldn’t last 5 minutes and would have been fired ages ago !!! The Institutional Investors wouldn’t be interested in listening to snivelling excuses or reasons why the CEO has failed.

Jim,

You’ve never had any credibility.

My conversations are with Terry.

You just happen to stick your nose into mine with your endless pitiful excuses for a dreadful SP performance.

You are the last person I wish to have any kind of debate with so best you filter me as I have you as I intend to hold Hutson to account until we the long suffering shareholders reduce our sizeable losses.

Terry,

I think we will get steady as she goes for the next couple of months as we are hovering around the 200 mma.

The market wants to see the 2nd Qtr numbers and the impact on FCF etc of the Maverick deal integration. We’ll then have a good feel about BB sustainability etc etc Hutson spoke about to improve and unlock the shareholder value .

Let’s hope he’s serious about it.

Pftse,

Hutson stated 3 years .

Terry,

You’ve made it .

You’ve got a mention in OB’s article “ DEC-ension in the ranks “ 😂

All the Hutson sycophants , including Jim , will be out rejoicing hoping for another accretive deal now to dilute the Shareholder value at our expense. Surely it make sense as the SP is on an uptrend. Only another 23% to go to get back to where we started the year 🤪🎉

Terry,

I’ll be generous.

Same % returned but over 7 months hence 32.27 pa 🙈

Terry,

Yep the old boy’s corrupt network keeps on working.

I wonder if we get OB’s thoughts on this one 😂

Terry,

This business is too small fry for an activist investor . Sadly .The man is untouchable all the time they are getting their large fees and high returns on money lent. So back to the East Texas deal for example. So far on that 850k shares issued DEC have paid a 6 month coupon rate of 18.8% ( 13.95 - 11.74 as a %) which is 37.6% pa plus 2 dividends. EIG must be delighted with the Non Exec Randy Wade for pulling that one off.

Imagine if they do the whole lot over time and the cost impact on the accretive East Texas deal. That will be for some more maths analysis 🧐

Terry,

I’m confident my numbers are correct as I spent a lot of time reading the RNS’s treble checking the numbers as I was so incensed at the dilution and the fund raising giveaway 😂. I can’t be bothered to add in the dividend which is a bonus for the sellers and makes the deals even less accretive.

We’ve spoken about this snake oil salesman at length. He has no loyalty to shareholders as he has destroyed the SP in his pursuit of assets to make up for the depletion in reserves and paper over the cracks in his strategy. He has been happy to pay the price at our expense.

Thankfully the money I have been pulling out at a loss is getting recouped quickly at Helix Exploration but still a chunk in this dog.

Terry,

I don’t feel your assumptions are correct and would be interested in how you come to the shares being issued were at a higher price than what they’ve bought back at.

With all the dilution going on I worked out the numbers earlier this year to monitor to determine your exact point from the RNS’s. Will these Companies make or lose money on the shares.

East Texas deal $27m for 2,342,445 shares equates to a price circa $11.74. They bought back 850,000 at $13.95 so it has cost them more to buy back the shares they were issued at. The East Texas deal closed late October 24 so with the 6 month lock in they have only just been able to realise some money and I doubt have been selling on the open market. I’d be surprised if they would sell at a loss but that have sold circa a third so far at a profit. If the lock in is like the Maverick deal , which I doubt, the lock in is a third after 6 months , a third after 9 months and a third after 12 months.

Whilst I am as untrustworthy of Rusty as you are I feel this bulk buy back is better for DEC not to have them flood the market albeit the East Texas deal is not as accretive as he’d have you believe if these bulk purchases become the norm.

FYI

Fund raise $135,575,000 … 9,350,000 … $14.50

Citi option 850,000 same price on top

Maverick $348,316,000 …. 21,200,000 … €16.43

Https://ir.div.energy/news-events/us-press-releases/detail/195/board-of-director-updates

It’s a big chunk out of the approved BB programme !!

Noteworthy is the related-party nature of this transaction, which required additional governance measures. The board confirmed that it considers the transaction fair and reasonable to shareholders, with independent verification from Stifel Nicolaus Europe Limited acting as sponsor. This oversight is crucial given the potential conflict of interest.

The shares being repurchased were originally issued as partial consideration for the East Texas acquisition last year essentially reversing part of that share dilution.

Also of interest it notes that shares issued to EIG affiliates from the more recent Maverick Natural Resources acquisition remain locked up, preventing immediate sales from that transaction.

They issued shares for the East Texas purchase which are no longer under lock in restrictions. Bought back directly under the BB programme for $13.95 from the Company and not on the open market.