Member Info for TerryM1

It is the hope that kills you.

Especially with this share and when all seems fine Rusty comes up with another one of his cunning plans.

Contacted IWEB yesterday and was told it was delayed because it is a Capital Repayment and is processed differently, will be credited in the next few days but no date given. However HMRC state it is an ordinary dividend for tax purpose. No doubt Halifax will have same issues.

Very poor show as in my II and HL accounts on the 5th, looks like IWEB a week behind.

It does not operate in the UK so no but of course subject to other taxes. i.e. dividend and capital gains which could be changed/go up.

I got the same message, bit strange as I hold this in II as well but no message from II. Looks like some jobsworthy, tick box FCA generated rule as paper work out of date. Had issues with other brokers on other shares with KIDDs not be available, some need KIDD to buy other did not, sometimes this due to how the broker interprets the FCA rules which can be confusing.

"Diversified Energy Company’s acquisition of c.20Mboe/d net production from Oaktree marks another important step in the group’s growth trajectory says Peel Hunt."

Is this the same Pell Hunt that DEC is employing, well who would have thought they would have given DEC such a good wright up, must be just coincidence.

Mr Market not so sure is a bit of an understatement, Rusty really knowns how to P**ss of the market and is the gift that just keeps giving for the shorters.

Hi richred_uk

There are 4 types of dividends a company can pay

Normal dividend, taxed at 8.75% for basic rate tax payers with £500 tax free

Capital repayment, taxed as capital gain, first £3000 tax free

Interest dividend taxed as interest like bank or building society interest, 20% basic rate tax payer, first £1000 tax free

PID taxed at 20% for basic rate tax payers

Each is in a separate pot for tax return but all except capital gains below £3000 are added to income to determine top tax band. CGT taxed after fist £3000 pa at 10% for standard rate tax payers, 20% higher rate.

Bit more complicated for foreign dividends same groups but can offset any tax already paid but can still take you up to the next tax band including tax paid. Also things like offshore reportable income.

Expect this to change/go up under new Labour government.

All these tax free in ISA or SIPP

Phippsy

If you bought in recently the SP is doing fine but if like me and a lot on here we are well down, if I look at my portfolio over the last few years (including dividends) I am barely breaking even, without DEC I would be doing very well. As I have DEC in my SIPP it has had a bad effect on my pension and as I am over retirement age do not want to wait years just to break even.

IMO SP would be around £12 now if not for Rusty latest shenanigans and far better if the dividend was still 40% of FCF as Rusty said it would be (no changes RNSs) just a few months ago.

However we all want the SP to go back up and in the process burn the shorts just need Rusty to get onboard.

Phippsy

Sorry to disapoint you but almost all here are long term share holders, so I interested in more than few days, I may trade at bit but here for the long run so not interested in day trades. You will find a lot here have a good knowlege of this company and sector and are here for investment not trading. Although I also invest Cameroon I find it more predictable than DEC and if I buy too high it is only a matter of time before the market catches me up.

TIISETSO MOTSOENENG: Copper’s new kingpin? Glencore’s moment to shine after BHP-Anglo drama

https://www.businesslive.co.za/bd/opinion/columnists/2024-06-04-tiisetso-motsoeneng-coppers-new-kingpin-glencores-moment-to-shine-after-bhp-anglo-drama/

Not sure I want to see GLEN bid for AA

Phippsy

" I think you post should read that oil and gas prices SHOULD BE RELEVANT rather than IS RELEVANT, like it or not our SP moves with the market/sector not only HH."

Really, have you been following DEC SP for the last year and compare it against O&G companies the FTSE250 or HH, you will find similar graph with small NS O&G companies hit by the EPL but against virtually all others it is a total disaster. There are some US gas companies in trouble but these are not like DEC in that DEC does not drill and also these do not have the hedging that DEC has.

" bad day today for sp but 7 companies in the ftse 100 did worse. are bp and anglo american going to **** as well"

I don't believe DEC is doomed like GG but Rusty has shoot us in the foot again, we have been DECed. In the case of DEC you need to look over 2 days since the new loan notes were announced, BP, AA and the 7 other have probably done a lot better than DEC in this period, also look at how DEC is been going up the most shorted table. In BP case it is linked to falling oil price and AA to a failed bid, no excuses for DEC only Trusty Rusty at it again.

"The drop over the last two days must in part due to oil, gas, metal prices dropping, check out other companies in the drilling and digging sector they're having a miserable time as well, 8 of the 20 biggest fallers are drillers or diggers."

World prices oil, gas, metal are not relevant to DEC, the only price that is relevant is HH and really only the futures although they do have a small amount of Oil, DEC are not in the drilling and digging sector.

If anything Oil going down is good for DEC as less Oil will get produced in USA and so less Gas which is a bye product of Oil wells.

Property Income Dividend, no corporation tax but taxed at 20% for basic rate tax payers if not held in ISA or SIPP.

Trusty Rusty or not

Well he has been lying quite a lot recently, BBs, cut dividend to reduce debt, 2 messages saying nothing has changed while planning dividend cut.

Take a guess! Markets not impressed, look what his latest shenanigans have done to the SP in the last few days let alone year. Can't blame HH now.

But he did not lie on giving himself free shares for great performance (well perhaps the performance bit that was a lie) while SP tanks.

Some people are asking why are the shorts increasing not closing or why so many shorts, look not further than Rusty statements against the what he actually doing.

"Baldrick the architect of this cunning plan?"

Baldrick seems to be architect of most of Rusty's cunning plans to increase the SP, think Rusty has confused the increasing the SP with increasing the shorts and trying his best to get us to No 1 on the short list and unfortunately is succeeding, just 2 more places to go.

"Note that there's no stamp duty on YCA either as it is on AIM."

This is true but and I have been thinking about trading a small amount of YCA but I am having trouble predicting/guessing the discount, however the spot price trend seems to easier to predict/guess but discount make a large amount of the short term movement in the SP.

In my previous post I said

"so far today $54.62 - $56.24 which not usual."

Should have said not unusual.

"Another smart financing move here from DEC who have completed securitising a tranche of assets with the issue of ABS VIII of $610m gross, net $592 at a blended fixed coupon of 7.28%.

This is particularly impressive given the cautious state of some financing markets at the moment."

So smart and impressive it trashed the SP at a point where DEC was trending up and not so smart to take out a 9 year loan given the cautious state of some financing markets, if you have to do this why not wait until interest rate drops and the markets improve or did the Oaktree purchase put DEC in a bad position.

"Many potential investors won’t get the subtlety of using a lower cost loan to pay off a higher cost one and freeing up their debt reserve."

But the debt is going to be paid off by by the reduction in dividends, that was Trusty Rusty told us. What is the proof this is a lower cost loan as this this fixed, high rate and long term when interest rates are set to fall, also only the first 3 years are coved by the Gas hedging so add more risk.

IMO this is not about cheaper debt nor is the reduction in dividends, it is all about Rusty's hubris wanting to be the JR of gas and he just can't wait to to buy more wells.

"7% interest is easily covered by the latest divi reduction"

First it is 7.28%, does not seem that much different but compounded until 2033 will make a significant difference.

Second did not Rusty say that the dividend cut would be used to reduce debt and for BBs, seems not much is being used for BBs and long term debt is now increased. The worrying point is that the current debt was mostly covered by the hedging but with this new debt it is not the case given it ends way past the hedging so significantly increases risk for shareholders.

Looks like the markets do not like this as on LSE and NY SP is dropping, just as things were trending upwards Trusty Rusty seems so determined to get DEC at the top of the most shorted companies. That's OK as Rusty will used this cash to for more gas wells justifying more remuneration for himself along with some more free shares.

If interest rates drop and DEC wanted to pay off ABS note early would they not have to buy these back in the market at a premium to the issue price due to interest reduction so reduction in the balance sheet.