Member Info for Jim800

Telling all parties that opening the ITP is mutually beneficial is merely stating the bleedin’ obvious.

Since when did mutual benefit outweigh political interest? Especially in the Middle East where looking after your region, tribe, religion or family is deemed far more important.

If we’re relying on common sense it might be a long wait - some backhanders or Baghdad political gain over KRG will be much more important.

I'd agree that the BBC is a waste of license payers' money and that it often gets things wrong due to a Political bias or just lazy journalism - but the definition of gaslighting below is a little more sinister than the BBC's incompetence!

"Gaslighting is the psychological manipulation of a person usually over an extended period of time that causes the victim to question the validity of their own thoughts, perception of reality, or memories and typically leads to confusion, loss of confidence and self-esteem, uncertainty of one's emotional or mental stability, and a dependency on the perpetrator."

I know I shouldn’t but:

GG you never proved any of your opinions!

You didn’t prove they overstated reserves.

You didn’t prove they overstated production.

You didn’t prove they had to contract at spot to fill hedges.

You based it all on a distant relative who once told you something about an oil field in the US. Hardly proof!

They’ve been saying the same on M&A for years - move slowly towards the right deal at the right price.

So:

- no update on M&A

- no update on arbitration other than should be complete by end of 24.

- Somalialand paused - no update on a restart.

- 107 million owed might be repaid in lump sums or might be an over ride arrangement.

- they only have the same news as everyone else on ITP reopening.

- continue to extract limited reserves and sell locally at $32-34.

Not much to move the share price there!

It’s 1000 today - access via investor meet.

Register and you’ll get an invitation email with a link.

I’m off for some Pilates to get in the mood!

Terry, I guess the new 10% ish dividend makes BBs less attractive than they were at 30% ish.

If they were going to go heavy on BBs then results day was the day to do it - and they’d surely have known the SP was going to drop on news of a dividend cut.

Think a pause to see what happens and review cashflow probably DEC strategy now.

New strategy and div cut not discouraging the shorters then. Guess it’s much cheaper for them to hold shorts now. Ooops!

Agree holding might have been a good strategy prior to 2020 but that doesn’t seem to be the case now.

FTSE hasn’t increased in 5 years, income shares have prices not much different to 5 years ago.

Lots of reasons: obsession with tech for growth, higher interest rates, funds selling off shares to fund withdrawals etc etc.

Think evidence is that well timed sells and buys and averaging down (with or without dividends) is the route to maximum profit. Though of course timing is everything (as my wife says).

Some good news from the Directors' Talk website interview.

Dividend hasn't been reduced, slashed or cut - according to the CEO it has been recalibrated.

But ....... it's still meaningful!

It'll be interesting to see what happens when dividends land in accounts later this month - at 10% ish at this SP I guess some will reinvest.

Wander what happens now 10% is recalibrated dividend (rather than 40% of FCF) if SP should double over next few months it'll only be 5% - what'll they do then?

For those who wonder why we question integrity. Take a look at 2021 Capital Markets presentation (on DEC IR website).

They highlight reliable, meaningful dividends over and over again.

Lots of graphs / bar charts insinuating dividends forecast to increase into the future.

A figure of $2.5 billion in total dividends by year 20 (so 2041).

Long term dividend sustainability....

Moderate responsible dividend growth...

Protects investor returns with prudent hedge strategy

PRIORITIZES STAKEHOLDER RETURNS (DEC's use of capitals in summary, not mine).

Now perhaps changing market conditions have forced a prudent change of policy but lots of investors (I guess the older ones) were hoping for a decent return and preservation of capital (it was an income share after all) rather than slashed dividends and potential SP growth at some point in the future.

An explanation of the need to change track, a proposal for the AGM and a vote might have been a better way of proceeding - latest acquisition was only wells they were already operating from a current partner so doubt there was much competition at play.

Second time Notrex and I have agreed in a month!

Perhaps it’s just the longer term holders who have seen Rusty act in a different way to what he repeatedly promised (or at worst very strongly hinted at).

Slightly uncomfortable to carry on holding when you no longer believe what you’re told in investor presentations.

Yesterday may well be a brilliant new strategy and good long term but it is a major change of direction.

Malcy is not a clever analyst.

He’s a fat muppet who cuts and pastes RNS words to give the impression he thinks.

He recommended Genel at £14 and DEC at £1.20 plus pre consolidation.

He s just after a free lunch with any company who are paying.

He’s about in the same class as Motley Fool

Having scrubbed the tender offer they presumably have the additional 5% over and above planned 42million dividend payments to spend on buybacks today whilst SP has dropped.

Have to agree with sentiments already expressed that change to divi policy and bungled tender offer due to not understanding the rules in the US both reflect badly on management. Not sure Rusty's credibility has ever recovered from his last equity raise after hinting strongly he wouldn't so one again.

As per other comments he needs to stick to promulgated plan for 3 years now - not much credibility left....

788 was the number of signatures on the petition.

Nothing to do with DEC.

Nothing to do with Share Price.

Nothing to do with number of shorters.

I was liking the £50k buy til I saw the £161k sell!!!

Some whacking great big after hours trades today.

Something afoot - going to be interesting tomorrow.

Finger hovered over sell button early this morning - glad I didn’t press it 😀😀

Spelling Bee - No, my fact was the details quoted by the company making the offer. Chances are the RNS is more factually accurate than your random interpretation.

Of course you made a 7% profit - join the club of market geniuses gloating about how clever they are in hindsight - never posting live trade details 😀😀😀😀

Spelling bee - indeed the forum should be about opinions and discussions. But it should be based on facts.

I’m afraid facts are more important than your opinions based on your failure to understand the facts.

Facts trump opinions every time.

Can we please stop the village idiot contest now? It’s clear Gavster has won, narrowly pipping Spelling Bee. I do worry that some of you are allowed to buy shares when you clearly can’t read.

If you don’t understand don’t tender.

If you do tender you may get some tax breaks and avoid dealing costs.

How about the numpties try to explain how DEC’s hedging is treated in the accounts - that should be a laugh!

Investor Meet set for 26 March.

That will be full year results and hopefully an update on everything else.