Member Info for Metalhead25

Looking good to me on multiple time frames:

https://x.com/metalhead2525/status/1720011594594128332?s=46&t=Jne_cUYLxmaxpafySDDQ2A

Some interesting charts:

https://x.com/metalhead2525/status/1720013980331057441?s=46&t=Jne_cUYLxmaxpafySDDQ2A

Great news about FQ exercising option. Seems like the next update will be a big one in terms of exploration results

Thanks, both

Gameangler, where do you get 24 October?

Oh look SynGold, there is an automatic right of appeal…

That’s true in England and Wales but I’m not sure it’s correct for JR in NI. This isn’t a productive debate in this forum - hit me up on twitter??

Aaargh typo. Supposed to read: “an appeal does NOT operate to stay the High Court decision”

You said no automatic right of appeal. I think you may be wrong about that

I’m not sure it’s correct that there is no right of appeal. However, one thing that is important to bear in mind is that, unless the appeal court specifically so directs, an appeal does operate to stay the High Court decision, which is therefore valid unless and until the appeal court decides otherwise. So IM is not in the position of having to await the outcome of the appeal before it can do anything else. On the contrary, it is able to continue to progress the project while the appeal is pending

GG, since I demonstrated conclusively to you that this theory is nonsense (primarily because DEC’s hedges are in the form of derivatives which settle in cash), one can only infer from your re-emergence peddling the exact same theory that your actions are not in good faith

Good progress. Permitting timescale towards the better end of expectations also

Sorry, version without double paste:

“This is interesting timing, yesterday I had noticed a number of inbound messages regarding DEC and all asking if I knew any reason for the fall in the share price. I answered all of them to the tune of that I not only didn’t understand it but that in every metric I think that the company is in very good shape.

There have been questions about the recent departure of the CFO but they are really nothing, this is just the evolution of a company growing like DEC is and it was an amicable parting. Also the recent announcement of the increase in the borrowing base was nothing to worry about, indeed showed that the company is in good financial order.

As for production the company have updated the current numbers with a range of 134 Mboepd-138 Mboepd which is ex the 3 Mboepd following the sale of non-operated assets recently. Finally the company has said that it is no longer planning a US listing which whilst small beer does take away any feint worries of a raise over there.

So where does that leave us, and I can’t really add to the comments I have been making in the last 24 hours on social media in that nothing has changed, DEC is run by an exceptionally good management team, the model they work from is immaculate and without exploration risk. They also have excellent control over costs and are amongst the best operators in the hedging market.

The company is trading well, operationally and financially sound and has an excellent distribution policy for shareholders. This includes a progressive dividend payment and gives the company a yield of around 20%, in anybodies book that has to be of significant worth and of course don’t forget the buy-back programme which adds value through increased NAV and lesser dividend payments. My Target Price of 175p doesn’t change and with income and capital growth on offer makes DEC a must have investment in the market.”

Https://www.malcysblog.com/2023/10/oil-price-dec-predator-and-finally/

“This is interesting timing, yesterday I had noticed a number of inbound messages regarding DEC and all asking if I knew any reason for the fall in the share price. I answered all of them to the tune of that I not only didn’t understand it but that in every metric I think that the company is in very good shape.

There have been questions about the recent departure of the CFO but they are really nothing, this is just the evolution of a company growing like DEC is and it was an amicable parting. Also the recent announcement of the increase in the borrowing base was nothing to worry about, indeed showed that the company is in good financial order.

As for production the company have updated the current numbers with a range of 134 Mboepd-138 Mboepd which is ex the 3 Mboepd following the sale of non-operated assets recently. Finally the company has said that it is no longer planning a US listing which whilst small beer does take away any feint worries of a raise over there.

So where does that leave us, and I can’t really add to the comments I have been making in the last 24 hours on social media in that nothing has changed, DEC is run by an exceptionally good management team, the model they work from is immaculate and without exploration risk. They also have excellent control over costs and are amongst the best operators in the hedging market.

The company is trading well, operationally and financially sound and has an excellent distribution policy for shareholders. This includes a progressive dividend payment and gives the company a yield of around 20%, in anybodies book that has to be of significant worth and of course don’t forget the buy-back programme which adds value through increased NAV and lesser dividend payments. My Target Price of 175p doesn’t change and with income and capital growth on offer makes DEC a must have investment in the market. This is interesting timing, yesterday I had noticed a number of inbound messages regarding DEC and all asking if I knew any reason for the fall in the share price. I answered all of them to the tune of that I not only didn’t understand it but that in every metric I think that the company is in very good shape.

There have been questions about the recent departure of the CFO but they are really nothing, this is just the evolution of a company growing like DEC is and it was an amicable parting. Also the recent announcement of the increase in the borrowing base was nothing to worry about, indeed showed that the company is in good financial order.

As for production the company have updated the current numbers with a range of 134 Mboepd-138 Mboepd which is ex the 3 Mboepd following the sale of non-operated assets recently. Finally the company has said that it is no longer planning a US listing which whilst small beer does take away any feint worries of a raise over there.

So where does that leave us, and

Excellent acquisition nearby. As we move towards production we should be able to increase efficiency/ save cost by having one processing hub for the two mining areas

Well, there’s the “no known reason” RNS. In my view a (possibly undisclosed) shorting campaign now looks to be the most likely reason for the drop. If so, let’s hope they get squeezed

Haha fair comment

Another way of looking at it is that if they knew something “that would result in a drop in share price far worse than we've seen up to now” it would be unlawful not to have disclosed it to the market already. Therefore, to the non-conspiratorially minded, the absence of an RNS is actually confirmation that they don’t know such a thing.

In any case, there are many possibilities beyond the two you present. There is no obligation to issue a “no known reason” RNS and many companies do not. In my experience they are more common when prices spike up for no reason. And if I had to estimate the proportion of companies on my watchlist who have produced such an RNS in response to a notable share price fall, it would certainly be less than 10%

Yep - thus toned down, I have no issue with that comment, GG

Jim and GG, I think we’ve established that there is no basis for using the word “fraud” whatsoever. It is not a valid assumption based on nothing more than a falling share price. It is not necessary for a director or directors to go on record to say that they haven’t committed a fraud. That statement is implicit at all times. The idea that whenever a share price goes down without known reason the board of the company concerned needs to declare to the market that it hasn’t committed a fraud is absolutely risible