Member Info for Jim800

I hold EQT, VLS and Getech as 3 long term green plays - hopefully one will succeed (with VLS least likely I’d guess). These have been bought with dividends from more mainstream FTSE companies so I’m gambling with dividends.

Over on Getech forum a 10% shareholder has called an EGM to replace long term CEO with someone more suited to project completion, attracting partners and getting things finished and profitable.
Anyone out there fancy the same for EQT??

Yep, it’s a good move for directors as it makes financial ratios look better and gets them performance bonuses. Little or no benefit to shareholders. Can anyone prove buybacks enhance share price rather than just set a sell floor under the price?
DEC based their buybacks on dollar strength so iis stopped. SP still down 20^% from recent highs even with buybacks. Haven’t seen any difference with Aviva buybacks either.
She’ll has spent a fortune and SP still off recent highs at 2450 ish.

Not job done to the benefit of shareholders. A big dividend increase along with a press campaign emphasising they’re just getting back to 2019 levels would restore confidence in the SP. Anything else (including buybacks) is going to maintain the drift around 2200/2400 area.

Interesting that in the Trading Summary first page, there was more space / bullets on ESG than there were on operations and finance. Once again DEC seem to know what the public want to hear and what updates will be useful in supporting share price. Their PR / IR team is streets ahead of most other companies.
Trek - I'm not too bothered about increase in production costs, in an environment where inflation is 10% I think that's inevitable. They do speak about increased vertical integration and economies of scale and vertical integration was always their strategy for making non-profitable wells profitable after acquisition.
As always, DEC profits / cash is slow and steady rather than a roller coaster.

Think potential buyers (me included) are wondering whether to top up now or wait and see what tomorrow's Trading Update brings. Guess if there had been anything concrete to adversely impact profits then we'd have heard about it already.
Looking good at this price though.

To be fair, XPB has always been negative over VLS’ ability to bring either a scaled production facility to commission or to attract financial backing. He has been right about both of these for the years I’ve been reading.
He’s also right that current agreement doesn’t merit much excitement until Bechtel commit some significant finding, set up a JV or otherwise get their tits in the mangle.
Hopefully, after years of being pessimistic, this relationship might actually work and he might have to change his mind.
He gives his views, he gives his reasons. Just cos they differ from yours there’s no need to be abusive.

Some pretty sensationalist and subjective reporting. Surely the start point should be whomever drilled the wells should plug them. On the basis DEC are buying these wells and planning to plug them when exhausted that’s a better outcome than DEC not buying them!
As regards the cost of plugging non DEC wells being 6 times that for plugging DEC wells - Doh, a company making a profit on other people’s wells vice a company plugging its own at cost. Pretty basic economics.
If the author is so concerned about DEC going bust and not meeting it’s obligations then does a negative report make that more likely or less likely?
Irresponsible, sensationalist journalism.

I’d say that given hedging policy, free cashflow that covers a great dividend and continued demand for gas in US and Europe I don’t see why it can’t get back to previous recent highs of 140 ish.
But history would tend to indicate it will move about in a range. Ranges have varied from 100-120, 110-130 and 120-140 depending on wider macro sentiments. If it got to 140 again I’d sell and hope to buy back in lower later.
DYOR

Boyo, seems we concur!
Where we differ is that I’m still in Genel - they now realise that M&A into different geographical areas is the way forward and they have a big cash pot (arrears and override payments) to facilitate this. Big divi well covered by FCF and prospect of BB PSC arbitration early next year makes me think it’s worth hanging on. One day Rodney……..,,

Video now available on Investor Meet for those who missed the meeting.
I’ve watched again this morning - headlines:
- production set to decline to 27-29k bopd.
- 10 potential acquisitions under review.
- they don’t know why last 2 payments have been missed.
- talking to potential partners about Somaliland

If they can deliver on strategic intent then it all looks good. But…… M&A and exploration both slow and filled with obstacles.

Have watched Boyo’s charts with interest for years. I concur that you (or he) can track SP vs oil price but I’d suggest this only works in a certain range.
Think the plain fact here is that no prospective buyers can see any reason why SP will break previous high area of £24.50 ish. Given that, why buy at these levels (certainly isn’t worth it for the dividend) so you’re going to get sellers over £24 ish dropping the price again.
Need some dynamic news to get a break out and I can’t see any so watching but not back in til 2150 ish.

Think it’s more like throwing a dice. The next payment is totally independent from the previous one.
If you try and make a pattern you’ll be wrong and you’ll get a sore head. KRG have all the control, we just have to smile and wait patiently - hence the share price!

Getech (another of my green AIM speculative holdings) released a 2022 Trading Update on Friday.
In para one one was a clear and unambiguous statement that the Board did not intend to raise capital from shareholders!
SP up 16% today - a coincidence or confidence???

Obviously they’re not so smart!
As per all these conversations; why do you stay with an incompetent broker?

In simple terms:
- production continues to fall slightly (masked by oil price rises).
- profits ok but impossible to compare Year on year as KRG payments late / overdue / irregular.
- exploration continues to fail to deliver profit making wells.
- golden egg of arbitration now due Feb 24
- no acquisitions or divergence into other areas despite cash pot.

Ops normal.

Is £5,600 really a big sell?

2 million shares from the number EQT have in issue is pretty trivial.

Barrie, find the sell button now so you’re ready when it goes over £24. I reckon that’s about your 12th post wishing you’d sold! :-)

Think the DEC PR team and BoD reactions were so good on last one that the facts don’t support (or can easily refute) any hit stories.
They have:
- exceeded all local and federal capping targets.
- included all capping costs in financials.
- bought in detection and capping resource / expertise so they have sufficient capacity to do their own capping and outsource.

Someone’s got to cap all those old wells. DEC stepping up to the plate - don’t see anyone else doing as much.

HSBC announce new green investment arm. Cam someone point DP towards the application forms? Pros doing the money and programming with EQT doing the tech is a match made in heaven! The market likes the idea, HSBC up neatly 5% today

DEC were making plenty of money, paying great dividends and funding acquisitions when gas prices were at these levels at start of 2022.
Oil and gas prices were never going to remain at peak levels forever. If recent high prices have bumped our hedging prices up for next 2 years then great - else it’s business as normal. Guess only question now is should they pause hedging for a bit to see what happens to prices?