Member Info for TerryM1

Huge volume today on NYSE, 842,863, lots of small deals also large after hour trade of 84,490 at $13.46, looks like something is afoot.

This was a very strange day, large price drop on LSE, large Premarket volume on NYSE then recovered on NYSE with 2% gain on very high volume. This share looked like it has been played, priced seems to have been dropped to enable large amount to be bought. Of course we will never know but does look suspicious.

NYSE pre Market volume 14,854, this is huge compared to normal pre market, looks like some people know what is going on while us PI shareholders kept in the dark.

Oiled-up

He won't resign unless forced, he will never do the right thing, you would think sooner or later the IIs should take some action to protect their investors money but I would not hold my breath.

Probably a another Trusty Rusty deal otherwise why add another $200m fixed at 9.75% of debt to an already well and truly over debited company and add stopping the BBs at around the same time. How can this company need another $200 for general corporate purposes when HH is this high, more Trusty Rusty lies.

One thing that is certain (deal or no deal) is that this fall along with the other falls, trashing of the dividends and the SP being stuck in the gutter for years is firmly at Trusty Rusty's door and there is no signs this will ever stop while he is in charge unless the IIs take some action. He will keep the SP low for years to come and at some point the democrats will get back in power and then have all the ARO issues (lot more now after the these deals) to drag the SP even lower. DEC had a golden opportunity after Trump elected squander but Trusty Rusty thirst to buy as mush as you can at any price. The SP should/probably would have been 2 to 3 times higher (perhaps more) if Rusty did nothing as can be seen from other companies.

He does not care about shareholders or SP one bit, try getting any questions answered or explanations out of IR, you lucky if you get some sort of corporate spin not addressing the issue or more likely total ignored.

The elephant in the room is why is this company performing many times worse than similar companies in the same area, how can Rusty keep using the phrase "accretive deals" when all they do is trash the SP and dividends and up to now FCF after one offs. Everyone including Rusty must see this and yet he keeps doing the same thing time and time again with the same result, the only plausible explanation he is doing this for himself (to become the new JR) or he is total incompetent at running a company, either way he should hang is head in in shame and resign before doing even more damage.

Https://oilprice.com/Energy/Energy-General/US-Natural-Gas-Prices-Slide-on-Warmer-Weather-Forecasts.html

Worya

Agreed, would be better if the rise was not BBs but due to other factors and as you say perhaps to run up to some good results, we can hope.

However looking at the graph for Friday looks more like BBs support, see Monday.

Looking at the SP in NY there is a possibility the BB are back, find out Monday.

Received my B Share payment in HL late on 2 Feb, a few days late. Before it arrived been asking them why it was not there on 2 Feb, no sensible answer was given and told I would hear by the end of the week.

When I checked the payment it was lower that it should have been using the exchange rate of 1.1459 given in the RNS, from checking this is was obvious that the amount per a share was rounded down to 1 decimal place (GBP p) i.e. 7.8p per A share which gives and exchange rate of 1.15385, just rounded (as amount per A share is 7.8541p) should have been 7.9p. Rounding should have been applied on the total amount of payment to nearest p. When I contacted HL about this it took them a time to come back and gave me the information I already worked out myself, i.e. it was rounded down to 7.8p, I was told that the people in this department were very smart and I replied not that smart as then got this wrong, told again they will come back to me and still waiting. In HL's defence this is probably AERS or who ever made to payments on AERS's behalf who made this mistake. For me it is a school boy error and once HL were made aware they should have stated the payment was incorrect and got on AERS immediately as all shareholders at HL will not doubt be affected (same error in my partners account with HL) not tried to pull the wool over my eyes with this incorrect rounding explanation.

Anyone else affected? Is it just HL or all brokers as I suspect?

Snappa

As I have been saying for a very long time the BOD regard this company as a life style choice financed through shareholder fund raises, they have no one with any financial nous in a position of power. While the shareholders are prepared to give them more cash at regular intervals they can carry on doing what they enjoy on large salaries (considering they have never made a penny for shareholders). They are great at spending cash on themselves and the company but seem to not know or care how to make a profit, they may be very bight in their own fields but fail to grasp this situation cannot go on indefinably.

"Diversified Energy Company (NYSE: DEC, LSE: DEC) ("Diversified" or the "Company") announces that its wholly-owned subsidiary Diversified Gas & Oil Corporation has successfully placed a USD 200 million tap issue of the outstanding senior secured bonds due April 2029 (ISIN NO0013513606) (the "2029 Secured Bonds"). The total bond amount outstanding under the 2029 Secured Bonds will increase to USD 500 million.

The Company intends to use the net proceeds from the tap issue for general corporate purposes.

The bonds issued in the tap issue will be issued under a separate ISIN until a prospectus for the tap issue has been approved, at which time the tap issue bonds will be merged with the existing secured bonds under the 2029 Secured Bonds."

Still saying "general corporate purposes" but what do DEC need $200 for this, if so called "general corporate purposes" DEC cash flow is in serious trouble especially with HH as these levels and also Oil but we all know Rusty has issues with the truth and loves to keep shareholders in the dark. This looks like another Trusty Rusty deal, if so most likely another JV. One thing I do know is DEC has even more high priced debt and as expected the market does not approve.

Https://oilprice.com/Energy/Natural-Gas/Eastern-Mediterranean-Gas-Balance-Shifts-as-Israel-Ramps-Up-Production.html

No mention of ENOG but does show region expanding.

Https://oilprice.com/Energy/Energy-General/Winter-Cold-Catches-Gas-Traders-Flat-Footed.html

Https://oilprice.com/Energy/Energy-General/Winter-Cold-Catches-Gas-Traders-Flat-Footed.html

Https://oilprice.com/Energy/Energy-General/The-Growing-Gap-Between-Fossil-Fuel-Use-and-Finds.html

Oil and gas discoveries have fallen sharply over the past decade while global consumption remains near record highs.

Https://www.investing.com/news/company-news/blackrock-increases-voting-rights-stake-in-diversified-energy-93CH-4465687

NEW YORK - BlackRock, Inc. has increased its voting rights stake in Diversified Energy Company to 5.21%, according to a regulatory filing disclosed Monday.

The investment management firm now holds a total of 5.74% interest in the energy company when financial instruments are included, representing approximately 4.62 million voting rights. The threshold was crossed on January 23, as reported in the TR-1 form filed today.

The new position consists of 4.19 million direct voting rights attached to shares, accounting for 5.21% of the company. Additionally, BlackRock holds 0.53% through financial instruments, including securities lending arrangements representing 0.45% and contracts for difference (CFDs) accounting for 0.08%.

This represents an increase in direct voting rights from BlackRock’s previous notification, which disclosed a 4.84% stake in shares and 0.91% through financial instruments, though the total combined percentage remains relatively stable at approximately 5.75%.

DEC sells about 15% of gas in the market (or at least it used to) so higher HH prices will help and any new hedges put in place now will be at a higher amount. However the hedges on it's books will show a negative value as it you would need to pay more for the gas than the hedged selling price, of course DEC will not be buying this gas but using it's own but for accounting due to IFRS it will need to show these hedges as losses on the books. This will not affect FCF so in the report FCF without one offs per share will be a a good measure of how DEC is performing.

Savage must be using the same AI as Craig Guildford (the Chief Constable of West Midlands Police) did when his evidence came from a fabricated football match.

JC01

The Maverick share dump will no doubt continue for a time as they have up to 7.8m shares, which I think they would like to get shot of ASAP. I say up to 7.8m but probably just below as going below 10% triggered the removal of Randall Wade and at present it is a slow drip feed into the market. Or to put it another way around 10% of DEC shares to dumped on the market by EIG alone when the maximum BBs are set at 10%pa. As we have been saying for a time these share dumps will hang over the SP for a long time assuming Rusty does not issue any more shares for deals which then just extends this period. Anyone still expecting £15 SP, a forlorn hope at best.

The question is why EIG are so desperate to get out of DEC, perhaps having Randall Wade on the board convinced them this company is very poorly run and wanted out before more acquisitions trashed the SP even more, or they just factored in a huge loss on the shares as the deal was so good for them and they wanted out of these assets at any cost. So perhaps they know the assets they sold to DEC were not worth the price paid and these make up a significant proportion of DEC assets. One thing is certain EIG are not impressed with the way DEC is run or they would not be rushing for the door at any cost. The last director to leave also dumped all of their shares as soon as they left. Some on here have said they have better use of the money while also saying DEC is a great investment and all these acquisitions will at some point feed through to the SP, 3+ years of these and the SP still stuck in the gutter.

Interesting wording in the RNS

“Randall Wade, Co-Founder of EIG, has today resigned from the Company’s Board of Directors”

“We are grateful for Randy’s leadership and guidance during a pivotal period for Diversified Energy,”

So he resigned not removed automatically when shareholding went below 10% and if he was doing such a job why not keep him on or did he want out of DEC BOD at any cost like the shares.

"Pre-market in the US Dec is up 3.7%"

This is on 11 shares at 10:44 UK time.

MrG123

First thing to look at after any deal once the dust settles is the total return for shareholders, after all that is all that count, is SP up, down, dividends up, down.

For fundamentals the FCF per share without one offs is the best measure, perhaps taking into account O&G prices, i.e. has the deal added to FCF per share or reduced it.

Share dilution is very important as this effect the shareholders total return, FCF per share, places too many shares on a market that does not want them.

Also there is future risk, large amounts of debt and high priced debt always adds risks, we also have AROs to consider.

Then there is market confidence which plays out in the SP, cost of debt, market does not like companies with large debt.

What is long run, since the deal fest started over 3 years ago DEC shares have plummeted and dividends down by 2/3s. In 3 years time we could have the democrats in with all the ESG, AROs issues back on the table. If DEC did nothing or a few deals to offset depletion and small growth there is a very good chance we would be like other US gas companies up 3 to 5 times in 5 years not down 50% and dividends 1/3 of what they were.

It is up to each of us the decide if it is brave or stupid, but for me I look what has been achieved by these deals so far and given the number of these deals it has been tested to destruction. It is a simple based on the history of many many deals, if you like making loses on your shares it is great, if you are looking for profit you are severely disappointed, if dealing you have great opportunities to make a lot of money.