Member Info for Jim800

Looks like one of my wrinkles might be sorted. Below is from a post on GKP forum:

He added, "The agreement includes Baghdad assuming the debts of foreign oil companies from October 2022 until the date oil exports cease, amounting to $1.2 billion, in exchange for the regional government delivering 300,000 barrels of oil per day to Baghdad."

Guess for APIKUR the devil is on the detail, how many days of 300,000 barrels before debt is paid back? Doubt Iraq will pay up front as a gesture of trust and honesty 😀

I was emailed a Molten Newsletter this morning - which appears to have led to a 5% price drop!

Only bad day last week was then they issues their Sustainability Report.

Perhaps they should just shut up as best means of supporting the share price.

Prophet - everything you have ever posted here has been incorrect, whilst all my posts have proven correct.

Why don't you set up your own BB then you can talk rubbish to yourself everyday to your heart's content.

This is a public BB so there is the danger that occasionally facts may spoil your delusions.

Thought you were out til the 30s anyway! How is the Buy High Sell Low strategy working for you?

Still a few wrinkles.

No comment on who will actually repay the $1bn debt. KRG have no official money (it’s all in Swiss bank accounts) and Iraq adamant it’s not their debt.

Nothing from APIKUR to agree to any export contracts.

Why would IOCs continue local sales once pipe open and How will KRG cope with no cheap oil / black market?

Long way to go yet 😀

I’d be hoping for a better source than Zoom News!

Hope they’re right though.

Did they forget to invite APIKUR or individual IOCs?

Although ending the article with the following KRG quote kind of shows the outcome better!

“Iraqi political parties have done nothing for their constituents and regions, and instead, for political purposes, they repeat the same old rhetoric to the people and other areas of Iraq, saying, ‘The Kurdistan Regional Government is not committed.’”

Back in Feb you wouldn’t accept the possibility that Wood’s FCF forecasts might be overstated and continued to insist there would be no takeover at less than £1.40.

You were wrong! No amount of emojis can cover up you were wrong! You’re unable to admit the possibility of being wrong so thought I’d provide some evidence for those with shorter memories.

You were wrong and should accept the possibility you might be wrong again! Go on, try to admit you might be wrong again - you might feel better!

Just catching up after a few months away.

Interesting to see ice still talking rubbish.

Back in late Feb he couldn’t accept that WG finances might be overstated and insisted £1.40 was minimum TO price. see my reply to him below from Feb! I gave up on his myopia then 😀.

Belated reply for Vanilla Ice:

You’re losing it! I never mentioned EBITDA I said that positive FCF was a forecast not a fact. When it comes from a company with previous for it and a non qualified CFO there must be an element of doubt.

Ditto one off exceptional items - just stuff you hadn’t anticipated and planned for (Covid and Ukraine for example). Differing one offs do crop up in successive years as per my examples. WG have shown some pretty poor planning last few months!

I’m not saying WG is going bust, I’m not saying they can’t manage their debt and I’m not saying the takeover won’t go ahead.

But, afraid facts trump your opinions - you must be really arrogant and conceited if you can’t even acknowledge the possibility of an incorrect forecast or more one off costs.

So that’s a No then!

Permission to not be excited.

Not sure how reduced risk and restart of operations lead to consecutive days of share price falls.

Mav - any actual evidence?

Deemon - can you find anymore negatives? Share Price seems determined to prove them wrong today 😀

Thought we were safe from your stupidity until share price was back in the 30s?

APIKUR ready to export oil once contracts sorted is hardly breaking news!

Worya - there is absolutely no clarification of how the partnership will work.

You have been offered a few opinions on how individuals think / hope / expect it to work. None of these are likely to be 100% correct.

As you say, once some assets are acquired things will become more clear - or at least as clear as DEC ever let their finances get.

AROs were one of my thoughts as well - even if responsibility lies with the “owner” of the asset rather than the “operator” - DEC as operator will pick up a whole load of negative press / blame if AROs for wells they are operating are not funded / completed.

My bigger fear would be Carlyle’s lawyers / financiers being better at planning and drafting contracts than DEC’s! So Carlyle get more of the profit and less of the risk.

is the 6% rise purely due to the fact that 97% of molten ventures employees have now completed bullying and harassment training as reported in today’s rns?

imagine the impact on share price when the remaining 3% get off their ****s and complete the training!

Don't think there is enough info in the RNS to determine how advantageous the partnership will be to DEC overall and Share Price specifically. I guess it will result in a number of deals with differing levels of DEC capital expenditure - but if Rusty gets his sums correct and doesn't get ripped off by Carlyle there is a whole load of production / service profit from Carlyle or their investors, on top of any accretive asset buying. Carlyle obviously think there's a profit to be made here - wonder if they'll load up on DEC shares as well - that would be a telling indicator.

AoC's points are all fair but isn't it inevitable in a period of acquisition that FCF (or FCF / share) will fall?

Q1 results tell us that comparing Q1 24 with Q1 25:

Net cash from operating activities increased from $106.2Mn to $131.5Mn - following acquisitions so you'd hope so!

But FCF falls from $73Mn to $61.9Mn (haven't done FCF/ share as only trying to make a point)

Because, cap expenditure and interest increased from $31Mn to $69Mn - hopefully for a fixed size DEC the capex and interest will both be falling Q on Q more than the production declines and hence net cash. So FCF should improve as assets are brought into core, economies are achieved and debt costs reduce.

Again, time will tell.

Market doesn't seem to have reacted to RNS at all, though DEC SP fall is less than other O&G companies so reaction doesn't seem adverse. Devil in the detail of individual deals.

Anyone want to guess why?

I get it’s more buyers than sellers 😀

Terry,

Only bought more enog this week as they looked significantly oversold, not for longer term prospects. I can’t see any reason to take the SP over £10 in near future so will sell that tranche just sub £10 and keep the remainder.

Will hold recent DEC tranches until Q2 results and see how we’re doing.

If we didn’t have different views there’d be no one to buy when you wanted to sell and vice versa 😀