Member Info for TerryM1

Dartron

"I think peel are independent (and not the most outlandish, I respect their views):

GB Group's corporate brokers are Barclays Bank plc and, in a joint capacity with the nominated advisor role, Deutsche Numis (formerly Numis Securities)."

I did not say Peel Hunt are currently in the pay of GBG but Peel Hunt have connections with GBG being involved in a number of share raises so have made money out of GBG and no doubt would like to do so in the future whether that is a future fund raise of becoming the Broker. Always a good idea to follow the money and for me this is not independent.

Savage_KeyboardR gets everything wrong as you will see on the CPI board he has a reputation for that (a lot of people have filtered him), he called EZJ, CPI, PNN, VOD wrong, perhaps he may get GBG right, a stop clock is right twice a day, for PNN he said the SP would drop to below £2.64 when is was £3.90 and posted

"by all means crack on with buying - PNN will continue to drop for a long while net nonetheless"

It just went up and is now £5.10 with some nice dividends since then.

For CPI where he was telling everyone it was going to fall from £1.80 (taking into account share restructure), it is now £2.96.

Jim800

See you can't stop with you obsession with me, why not spend your time reading the RNS instead. It states

"Other oil and gas operators may establish similar funds to address the plugging of other non-producing or existing orphan wells"

This implies/means this fund is just for DEC, show me where it states other companies can join this fund, it does not.

Let me help you with other areas of English you do not understand like the word Stop where you think it means terminate from your posts attaching me.

Two explanations from different sources

"In general usage, "stop" implies a temporary pause or interruption, suggesting the possibility of resuming the action later."

"Let’s define these two words. Stop means to cease an action or come to a halt. Terminate means to bring something to an end or conclude it."

Good examples are Bus Stop, the train will stop at the next station, so you think the journey ends there, it does not. Have you been looking for Bus Pause when trying to catch a bus?

NOW GIVE IT A REST.

Looks like OB is telling us "by this time next year we will be millionaires" again, pity he has not told the markets.

JC01

Can't agree more all born out by the dropping SP.

Maverick is not only the largest deal ever for DEC but the most damaging for shareholders and most badly managed. SP before deal was around £14.22 and rising, down to £13, then the fiasco where Rusty forgot to put the finances in place so had to have a fire sale of shares, SP dropped to £8.00. Propped up by BBs it rose until Maverick decided to dump 1/3 of its shares on the market via secondary offering, SP held up for a time by BBs but then DEC threw in the towel and now going down to who know where. I did think it was bottoming out but still on the way down. There is possible another 2 of these secondary issues coming but probably only when/if SP recovers to some extent to start this off all over again. At the very least will hang over the SP like the Sword of Damocles for a time to come.

"So none of those worked so let’s try an ARO gimmick and stump up $70m that actually could have been used to throw at BB’s to shore up the SP that is 30% down this year and heading downwards."

Not sure if this is a gimmick or not, it may well have been forced onto DEC as they have only been doing the bare minimum for their ARO obligations and West Virginia may have got concerned about being stuck with these and there are a lot of them. The real question is where is the $650 million going to come from, not West Virginia so can only be DEC, as usual missing a lot of info about what is happening.

Reading it again I see

“Diversified is proud to deepen our commitment to and investment in West Virginia through this historic partnership,” said Diversified Energy CEO Rusty Hutson, Jr.”

This looks like more BS from Trusty Rusty, is not investment but more cash for AROs without the guarantee Next LVL will get all the work, why can’t he just say this. West Virginia wants some of this money upfront in case DEC cease to exist and don’t want to be stuck with all the costs, smart move by them.

One thing we can see judging by the SP is either the market don’t like this or at the very least don’t care as nothing in it for DEC.

MrG123

The latest announcement means nothing good for DECs bottom line, they are just transferring a some of the ARO liabilities from DECs books to the new fund by transferring money from DECs books to the fund. The only think that seems to have changed is DEC has less control over the plugging and there is the possibility that not all the plugging will be carried out by Next LVL Energy so cash can go outside of DEC. There is also the $650 million figure to account for, it looks like DEC are on the hook for this but not for a long time. Perhaps we will see an entry in the books due to IFRS.

For now DEC SP is in the $12.50 - $13.00 range, BBs could push this up or another Trusty Rusty deal or more fall out from one of the previous deals could push this down.

Move to NYSE will add more US tracker funds and lose UK tracker funds but given the way SP has been moving on LSE and NYSE I would say NYSE have less confidence in DEC that LSE.

Interesting the news of the fund was announced over an hour earlier in US than the UK RNS and the UK RNS was half way through the trading day, IMO it is better these announcements are made outside of all trading times.

Dartron

"Its not my fault if GBG was over valued back in 2021"

Who said it was your fault.

"Peel Hunt Limited Add 300.00 300.00 Reiteration."

To get to that we will need better reports than the one just released, I can find many companies where brokers including Peel Hunt give these type of rating but does not come to fruition. They gave many over these over the years, all fail and been replaced by a lower rating, Peel Hunts previous rating was £3.50 in 2023, did not go well. Also Peel Hunt have connections with GBG being involved in a number of share raise including the one at £7.25 where the only people who made money out of this was Peel Hunt. I leaned a long time ago to take these with a pinch of salt, especially those with connection to the company, there is a saying/joke in the city that the brokers rating are 10% above the current SP.

Let’s hope it will go up 25% but I think we will need more than just hope.

Dartron

" its difficult to judge the wider points you make Terry"

The point I am making is clear, this company is going nowhere except jam tomorrow promises and neither is the SP/total returns which dose not put food on the table.

"I also think its stupid to hark on about the past!"

Those who do not learn from history are doomed to repeat it!

"I see it as a steady compounder, and to say Jam tomorrow when they have spent £20m on buying back and cancelling shares is ridiculous"

I deal in reality, this TU has nothing in it that is good except Jam tomorrow statements, expect 1.8% growth against 3.8% inflation, a real world decline of 2% with dividends well below bank interest rates, with all the BBs the SP has not gone nowhere in over 2 years after collapsing from £10. These are facts and facts are not ridiculous or show little understanding of the situation. The only ones making money out of this company (except for a few short term traders) are the BOD, fact.

Savage_KeyboardR

So how is 1.8% growth good when inflation is 3.8%, looks like a real teams contraction to me, seems you have a different view of the effects of inflation for GBG than money invested in CPI.

This company have been in this situation for years going nowhere in a market place that is expanding and is not a direct comparison to IT companies in general.

"When the wider economy becomes less turbulent and growth picks up this stock should do nicely, and current investors can have faith the BOD's will look after them through this turbulence too."

The US will no doubt grow but UK is very unlikely to see any real growth but just high inflation, more taxes, higher energy cost due to ESG stifling any prospects of growth, Europe not much better.

SP was going down for many years and now stuck in the same range for over 2 years with a few blips up when there was the threat of a takeover or some BBs.

This is a jam tomorrow company with no growth (-ve if inflation taken into account) and a dividend below inflation as well as interest from banks/building society. I bought a small amount here some years back as a bit of a gamble but turned out to be a mistake.

Reading through this again

"$70 million investment from Diversified across the initial 20-year period, which is expected to grow over time to $650 million of financial protection to West Virginia."

I would guess the growth from $70m to expected $650M will take place after the initial 20-year period by more contributions from DEC.

The RNS with more info now out

https://www.londonstockexchange.com/news-article/DEC/west-virginia-and-diversified-energy-launch-first-of-its-kind-well-plugging-fund/17282409

It is a little confuting, It states

"$70 million investment from Diversified across the initial 20-year period, which is expected to grow over time to $650 million of financial protection to West Virginia."

How is "$70 million investment from Diversified across the initial 20-year period” “expected to grow over time to $650 million of financial protection”, can't see how this can work unless DEC is on the hook for a lot more cash which is not stated in the RNS.

"The fund is held by OneNexus for Diversified’s well retirement obligations in West Virginia, with the state designated as a third-party beneficiary, ensuring all Diversified wells in the state are safely plugged and retired."

"Other oil and gas operators may establish similar funds to address the plugging of other non-producing or existing orphan wells"

This seems to be a fund set up to pay for just the plugging of DEC wells paid for by DEC but as it is not part of DEC then the fund will be unaffected if DEC cesses to exist. This on the face of it is just up front payment for plugging.

Also

“In conjunction with this agreement, Diversified will bolster its investment in its wholly owned subsidiary, Next LVL Energy”

So DEC will be putting more cash into Next LVL Energy to plug it's own wells which I guess would needed anyway.

“Next LVL Energy will lead asset retirement operations for the Diversified wells under the fund”

So most if not all of the plugging is expected to be undertaken by Next LVL Energy but does not state all so DEC could be paying someone else to plug it’s wells as the fund is not controlled but DEC so they will be able to chose who they like.

So from my understanding this is just cash up front from DEC being placed in a fund to retire DECs wells in West Virginia but without the guarantee Next LVL Energy will get cash back (in effect) for the plugging.

Not saying it is a bad move but also cannot see any advantage for DEC unless the fund makes a decent amount of cash which has to be above 9% pa above it’s running costs as this is the latest debt cost to DEC.

Https://www.wsj.com/business/what-happens-when-oil-and-gas-wells-die-west-virginia-has-a-new-plan-for-that-8beb4856?siteid=yhoof2

West Virginia is expected to unveil on Thursday a potentially first-of-its-kind fund aimed at one of the thorniest environmental issues plaguing America’s oil-and-gas-producing regions. Diversified Energy one of America’s largest owners of natural-gas wells, said it would plow $70 million into the fund over the next 20 years in the hope that those holdings grow to as much as $650 million through compounding interest and returns. The goal is to continue capping and plugging old oil and gas wells even if Diversified goes out of business.

Not very impressive, 1.8% growth on a constant currency basis and underlying revenue growth was approximately 4% so just barely above inflation on a constant currency basis and well below in GBP in an expanding industry.

Looks like no BBs and market looking to test recent lows, NYSE volume not that high now so BBs should lift the SP easily if restarted..

MrG123

You could well be right but who knows been a long and consistent drop for a time and it looks like the bottom, perhaps the BBs have been started again, has that look to it. US volume has been going down for a time now so will requires less shares to change price.

Https://www.investing.com/news/stock-market-news/top-european-airlines-set-to-soar-bernstein-ranks-4-buyrated-eu-airline-stocks-with-big-upside-into-winter-93CH-4281767

International Consolidated Airlines Group (IAG.LN) tops Bernstein’s list as their "top pick for medium-term compounding."

More share dilution to pay for the very nice salaries of the BOD without any profits in sight, this company is still just a lifestyle choice for the BOD. It is about time they stopped concentrating on expanding which so far has just lead to expanded loses and concentrated on making at least some profit, at present it is just a money pit with no signs of changing. Expect radio silence once they have all the cash.

Worya

Tend to agree, they BB shares up to $14.00, then $14.50, $14.35 and back to $14.00 before giving up, at least for now. I guess it should not come as a surprise as I have said many times the BBs are anaemic and sporadic. This time anaemic compared to the amount of shares brought to the market in one go and as before have been proved to be sporadic.

SP has now gone just below $13, logic tells you if it was worth it at up to $14.50 it is even more worthwhile at $13 or to put it another way why buy in the $14s if you were not prepared to keep it up so you could have got the same shares in the $13s or lower saving a lot of cash for DEC shareholders. Some will say they would not have known SP would go this low but for me (and others) it was obvious the only thing supporting the SP was the BB as I have said in the past. There is also the possibility of another Trusty Rusty deal behind all of this.

Yield on shares now 9% so no cost to using the 9% loan money to BB shares, if SP goes down any more will be accretive.

Lets hope BBs kick in again to stop this rut even if it was just up to $13 it at least would be something, we have probably got another 2 of these offering to come and I hope DEC can deal with those better than this one and do not put the company it in this situation again chasing so called accretive deals.

Unfortunately this situation was predictable and predicted by some of us.

NYSE short interest on 15/09/25, the latest I can find

2,220,000 shares

4.6%

As far as I can tell this has not changed.

Short positions above 0.5%

Arrowstreet Capital, Limited Partnership 2.01% Up 0.11% Changed 7 Oct 2025

JPMorgan Asset Management (UK) Ltd 0.95% Up 0.13% Changed 24 Jul 2025

Millennium Capital (DIFC) Limited 0.53% Up 0.13% Changed 7 Oct 2025

Total 3.49%

Jim

"Terry - less than hour for your response. Wonder who has the obsession 😀."

I always go through financial news, SP at the start of the day and then share chats to see what is going on, you were last on the list. I am just checking things off now before lunch and like to be around when NY opens so check in on chat, this will save you coming back with a timeline on my activities.

"There is no time limit on a pause, it’s still different from a stop 😀"

Really, picky picky, picky, must try harder.

"If you read my post I told you that they had bought shares direct, that was never in question. However, the seller obviously thought there was a need for a secondary offering. I very much doubt DEC wanted to blow over $100mn in one go."

Splitting hairs I see, I stated DEC could have bought almost all the secondary offering shares under the current BB program without the need for a secondary offering, it is obvious also from the fact I said they would have got these below $13.75 as no costs, in particular underwriting costs. It is you who seems to think I was referring to the offering or just chooses to. It makes no sense for DEC to buy in the offering as any shares purchased outside of the offering would be cheaper for the reason given above.

"It’s very narcissistic to assume all posters who disagree with your opinions are obsessed with you. Help required perhaps???"

Again you are making it up, I have only said you and GG in the past (at least I hope so and he has got over that now), again you are showing it, JUST GIVE IT A REST. As I said keep away from me and I will keep away from you as this is pointless but I will not allow you to attack, insult and misquote me without reply. There is very little chance of this as I am living in your head rent free.