Member Info for Jim800

Damof - try not to worry too much. A long diet of sour grapes and humble pie is bound to lead to temporary stomach upsets and periods of nausea.
They'll be back moaning and spreading negativity here or somewhere else sooner than we'd all like.

Good to see G can still drift up despite seemingly late outstanding payment. Should be even better when we get an RNS or two with some income coming in. C'mon KRG pass it over - you know it makes sense.

Been out all day - just checked in hoping price had held at 118.
Very pleasant surprise - wasn't expecting above 120 til updated news - is there a leak at Kier HQ? Any other conspiracy theories out there?

Just making sure they aren't pirates!
No parrots or eye patches to be seen - get it closed.
Although the equity issuance funded both Indigo and hopefully Blackbeard acquisitions, I think the bigger benefit is the drop in EBITDA ratio to 1.8X, which in turn, allows even bigger acquisitions to follow. Think DEC strategy is to mop up even more assets in this new area, duplicating their "economies of scale" approach in Appalachia region.

Nothing official further to 28th May US press release below:
The Company will complete its ongoing diligence work prior to confirming the final terms (including purchase price) such that it can give no certainty that the Blackbeard Acquisition will proceed. At present, the Company expects to close the Blackbeard Acquisition during June using cash on hand and a draw on its revolving credit facility.

ADV - have you tried posting on Crap Brokers R Us.com? You may find more people in your situation there.
That or #I can't understand why no one fixes my stupidity for me.
You're in the wrong place.

How do you feel about all us holders who are at an average of less than 100 and are getting a 10% divi? No sympathy needed here thanks.
But please continue with your insightful research - almost as helpful as adv11 who doesn't seem to understand his broker is the problem not DEC. Surely you've both got better things to do than continue to display your stupidity in public.

RedTom - I think there are a few elements at play.
Some funds / investors see DEC as a dirty, non-green company (I guess that is partly why DGOC became DEC and presentations labour on green closure of exhausted assets). But we're never going to be popular dragging carbon producing fuels out of the ground.
The share issue surprised me and as per comments below I felt a bit annoyed that new shares were on the market at a price lower then the market price and I wasn't invited to buy them (other cash raises IAG, Kier etc have given priority to existing share holders via a rights issue).
I guess you could misunderstand the business model as merely buying up wells with rapidly declining assets and miss all the better management / efficiency savings etc.
Next divi hitting accounts will allow existing holders to top up at these levels, maintaining the bottom if not increasing the share price. Might be a step up tomorrow as a result.

Hydrogen, You're quire correct that we're all willing participants in this investment / drama / reality show. We all have various strategies and I'm happy to take a gamble waiting patiently for fundamentals of cheap oil production in KRG to be reflected once more in Genel's share price. Most of these realistic comments below sprung from an attempt to explain to you why the share price isn't the £2.50 odd you thought it should be a few weeks ago.
It's in everyone's interests (shareholders and KRG locals) that oil extraction and sales continue so fingers crossed they can sort it all out but payments will need to be regular for 6 months plus before bigger holders pile in and drive the price up. No major moves in next 6 months expected by me - but I like the divi.

No need for fireworks - they just cause people to be greedy or stupid or both.
Look at Share price from Monday open (when most PIs could realistically start to sell new holdings) a gentle drift upwards from 112 to today's 118 ish. That's in a period when price was widely expected to drop as PIs took short term gains on their 85p shares. As PP says, bigger buyers think it's a good deal at this price.
I'm happy if we drift around here until selling PIs are all out and then we can move upwards on any good news - hopefully 13th July.

SP looking very stable at 103 ish level so hopefully we've reached a temporary bottom ready for a move upwards on next bit of good news (or a general market move up).
Blackstone upped its share holding to over 5% yesterday (though reduced overall voting rights a little). No shorters evident so time for another little top up to get more of that 10% divi whilst we see what happens.

Surely they people to buy as well :-)

I guess if we try to look at events from a KRG perspective it all makes a bit more sense.
In an area with many calls on limited funds and a very delicate political situation, paying IOCs is recognised as necessary for the long term but doesn't achieve anything for local population or politicians in the short term.
So, they pay what they can, based on local priorities, exacerbated by difficulties in getting federal money from the Iraqi govt (whom in turn don't get much credit from voters for passing money to an oil rich KRG).
The recent announcement that KRG will get 6 months of backdated Iraqi federal payments will helpfully assist KRG cashflow and allow local short term commitments to be balanced with longer term needs (such as paying IOCs).
Am sure Genel and GKP get all this verbally, but are encouraged not to publicise any comments that might impact the delicate balance of local / national politics.
Out and out confrontation with KRG won't work, so softly, softly is only viable approach.
Guess the uptick in Brent takes 3 or 4 months to result in more money in KRG's coffers and hence flexibility to pay IOC's anything other than the bare minimum.
Fingers crossed that resumption of federal payments to KRG allow compliance with previous payment agreements with IOCs.

PSW - yep that sounds reasonable. Thanks very much all you HL Kier holders who didn't want any extra :-)

I've got basic entitlement plus 100% in both SIPP and ISA. Very surprised given that RNS figures seemed to indicate about 62% and a few other posters have got about that. Perhaps smaller PIs (think my basic amount for each holding was about 3500 plus 100% so 7000 ish for each holding) got a higher percentage.
I was expecting a drop to mid 90s so very happy with a close at 112 ish.

Surely the share price should fall at the XD date, not the actual dividend payment date. If share price is falling on both XD date and payment date then something else is going on.

At least if he gets his fingers burnt he'll have an opportunity to work out how to use a grammar checker before he's allowed back to a keyboard.

Boyo - any thoughts on the periods (Jun- Aug 18, Oct-Nov 19, Aug 20) where the divergence was in Genel's favour?
Positive trading updates?
Payment changes?
Updated reserve estimates?
New sites announced?

That's nearly all due to Pokerchips' new job as GSK Invertor relations manager.
Keep the info coming Pokerchips - much appreciated (by me anyway).

So the KRG are getting 6 months of backdated federal budget payments - shall we have a sweepstake about the probability of them giving Genel 6 months backdated payments? I'll go for no chance whatsoever.
Assume H2 with his very rose tinted glasses will go for 100% :-)