Member Info for Jim800

terry,

so you accept lng is a viable asset for investing in but prefer a company based in a very dangerous geo-political location, with huge extraction and transportation costs over one in a secure location with simple extraction and transportation costs? enog ****ed up their last planned disposal so surprised you haven't got management questions there as well?

i like them both and agree enog dividend is currently better but still think dec has more chance of significant sp appreciation and definitely less risk.

Terry,

Think your obsession with the past is blinding you to any possible alternative view and even causing you an inability to read anything contrary to your views.

I didn’t say it was your fault it dropped I said it was your fault you didn’t sell at £28. (I didn’t either but accept personal responsibility for that - greedy!)

You see the same “fault” for 8 repetitions and don’t agree with the strategy but remain invested - your fault. How many times could you have got out?

I said I’m not continually looking backwards, you most obviously are!

Selling all my alternative shares to invest in DEC would be plain stupid - have you not heard of diversification? But I do now have about 30% of SIPP and ISA in DEC and nope, haven’t lost any money until I sell. Dividends will keep me happy whilst we hopefully get to fairer value.

Don’t expect you to agree as I see things to be cheerful about whilst you see things to fear. I’ve moved from an uncomfortable hold to a much more comfortable one - guess you haven’t.

Let’s discuss post Q2 results and market reaction.

GKP’s operational update RNS confirms local sales continuing at $27-29.

Assume Genel sales running at same levels so Brent price not really impacting cashflow.

Terry,

DEC took you up to £1.40 old money (£28 now) and you chose not to sell. Not Rusty’ fault, yours.

According to your own daily repetition he’s crashed the SP 8 times and you’re still here - Shame on Rusty or shame on you?

I’ve bought more recently at 940s and at 1020s on the way up. To date I’m holding, looking to the future and seeing value, not continually looking backwards at trades I could / should have made.

Second time recently we’ve had a 7% jump and gkp hasn’t budged.

Yawn 🥱

Terry,

Quite a sensible response until your last paragraph which was pathetic.

I’m not supporting it like a local football team, I’m offering an alternative to your point of view.

There have been things that could have been done better / cheaper but overall we now have lots of producing assets that will hopefully prove to be worth the expenditure and associated debt. If you’re blind to the positives over the last few months and refuse to accept the possibility that business looks longer term than individual shareholders then there’s no point in the debate.

Surely you agree DEC had to acquire assets? If so, then all you’re complaining about is size / cost of acquisitions. Time will tell whether they were as good as I think or as bad as you do!

I’m not saying don’t do any more deals I’m saying prove the ones you have done are as profitable as you claim.

£8 was in the gutter, £11 is 40% above the gutter!

Terry,

I’ll try a simple example.

Every time I’ve bought a new house I’ve pushed our finances. Debt has gone up hugely and our cashflow was stretched.

But, the resulting assets were worth it in the longer run. Buying a large house in the 90s when prices were falling, mortgage rates were higher and negative equity was rife was a particular gamble - that eventually paid off handsomely.

Rusty may have over paid for borrowing but perhaps the assets were at a price he thought was good and unlikely to be repeated. If you can get cheaper assets by paying a few percentage points more on your debt then that may well work out.

We’ve chosen to invest in a company run by someone with a non standard strategy - we either accept that or not; he’s not changing his mind or getting sacked. If individuals don’t believe in the strategy and choose not to sell up then I don’t understand what their investment case is? Blind hope?

Terry,

That’s what I said!

We might be a long way off your average buy in price, but I think we’re moving in the right direction and have been since early April lows of sub 800p.

There is a chance that Rusty had the correct strategy (but executed tactical details poorly in some cases) and the market hasn’t realised yet.

JC bleating on about past errors whilst failing to recognise recent improvements is pointless and childish. Either accept the strategy or sell - it’s not going to change as the result of a view random voices on here.

I bought another £15ks worth on Monday - though not as brave or well timed as PP waiting until they passed back up through 790.

Tempted to sell yesterday and tempted again today as can't see any immediate positives and a worry over production declines whilst FPSO ordered off station. Think lack of production for a period is a bigger worry than direct infrastructure damage.

Oh for a crystal ball.

Think the question is how do they get the SP to better reflect the fair value of the company?

They tried a fairly aggressive round of II engagement but little to show for it. As many have oft repeated it's now just plod along achieving promised synergies and economies of scale, produce at forecast rates, plug wells. sell gas / liquids at best prices, uplift hedges where possible, pay down debt and maintain dividend - ie all the normal "boring" running a company stuff. Hands off the dilution or borrowing buttons!

Q2 results should be out mid August which will give an indication as to whether deals have been as accretive as promised.

Patience required and hopefully a steady drift up on improving HH prices and increased gas requirements until Q2 results as 1st evidence towards proof of aggressive acquisition strategy being correct.

JC and GG might even cheer up then :-)

Imagine what’ll happen once it’s announced the FSPO is going back on station!

DEC bought them in an off book deal - see RNS dated 28 May.

Vista, just filter him. As you say he’s only repeating the same old stuff over and over. He’s an Eeyore like donkey, followed by a grey cloud of doom.

Add in the fact he’s continually wrong and you’re just wasting your time reading anything he posts.

Up 4% today, over £11, HH up, big BBs now looking consistent at the correct price, shares in treasury being cancelled and I assume he’s still moaning!

Time to rotate some money out of DEC into ENOG?

DEC joined R2000 1st July 2024.

No record I can see that it has ever been relegated and if changes are annual it will just remain in so no change.

But not in a good way!

Below is what I said to the now filtered JC towards end of May. (Though it still didn’t cheer him up).

“Share price still rising, trend improving and less shares in circulation - you must like one of those 😀”

All still true as of today - hopefully smiles all round. A few doubted we’d ever get back to £11.

Amor - if there is something brewing it’s Genel specific. GKP only up 2% today so don’t think it’s anything political.

Terry / Mr G / splitters! 😀

Tvh - are you still convinced that broker is buying on “average share price over x days?” Or are you now prepared to concede that it is statistically unlikely that multiple RNS BBs have all been $14 exactly or less time after time?

Looks like direct buying direction from DEC despite the rules - as was previously suggested.