Member Info for TerryM1

JC01

Could be the case and recycle the same cash back in again, I buy in if UK price is significantly enough below US price closing price to make a profit but also take into account O&G prices as well as other O&G companies SP changes that have happened since NY close so today waited for lager difference before buying in.

The danger is of course a Rusty cunning plan get announced while holding but tend to hold for 2/3s UK trading day but miss any RNS announcements before opening and any after LSE close so a relatively small window. Anyone else think of doing this good luck but DYOR as it could easily in in tears.

JC01

Yes bought in today at £10.04 and just sold for £10.27 but as I say only a small amount against my losses but worth it in absolute terms as a decent amount of cash when all trades added together and only risking the same cash.

JC01

Can't disagree with you but this is DEC and Trusty Rusty is known for lying, he is up to something but the last people to know will be the shareholders. The only thing I can do at present is to trade DEC and try to take advantage of the SP volatility to get back some losses but this will be a tiny amount compared to my overall losses. I could trade with larger amounts but don't want to be caught out too much if Rusty comes up with another one of his cunning plans which will trash the SP and at present just recycling the same same cash, today looks like another day for this but will see by LSE close.

Worya

Seems to be $13 for BBs for now as Jim800 predicated.

LSE SP testing £10 support level so got back in with a few less shares than the ones I sold out at £10.30, hoping that NY will pull this up today but O&G in general not doing well today.

Https://finance.yahoo.com/news/aviva-posts-9-rise-general-090439896.html

Also contains some other figures.

Zilonis

Not a tax expert but this is how I see it as I have been involved in these before and need to make the calculations.

Take the price you paid and the price at takeover, i.e. cash + value of LMP shares on the day, calculate gain or loss. Apportion to the cash side and the share side. Cash side goes on to make up your capital gains/losses for the year, the share side sets the base price for you LMP shares where you sell.

In HMRC example 25% is cash, 75% shares, value at takeover £320,000 - purchase price £60,000 gains £260,000. Of this £260,000 25% is cash gain £65,000 for CGT, new shares base price is 75% of £60,000, £45,000.

In this case for each SHED shares 0.5612 LMP shares and £0.428 cash

So if LMP share price is £2.00 on day of take over value of SHED shares is £2.00*0.5612 + £0.428= £1.5504. Cash side £0.428/£1.5504=27.61%, share side £2.00*0.5612/£1.5504=72.39%.

If you paid £1.20 for SHED gain £1.5504-£1.20=£0.3504, CG £0.3504*27.61%=£0.09673.

Base price for LMP £1.20*72.39%/0.5612=£1.54799.

Hope this helps but as always do not rely on this so check it out for yourself.

JC01

I think you are right and unfortunately there is not much to push the SP up, seems it gets to around the fund raise price and goes down again, perhaps a number of the people that bought at this price just trying to get out without losses or small losses. I sold all my trading pot this morning (doubled when got out of my £10.30 trade) when LSE SP reached NY closing price a tiny profit but better than hanging on for a potential loss. It looks like both sided of the Atlantic fed up with DEC and Rusty's games.

Lets hope we are wrong and SP gets some life back in it.

Worya

As I said on the previous BBs they are anaemic and sporadic, this time not anaemic but sporadic, as I said many times before most O&G companies have permanent BBs to offset the ESG selling off but at present probably more to do with oils price.

More action in the Uranium market at present than with DEC which is where I am concentrating my trading mostly using my DEC dividends paid in $s from II.

Https://www.kitco.com/opinion/2025-05-15/uranium-regains-momentum

Https://finance.yahoo.com/news/duke-capital-insiders-placed-bullish-080343948.html

Good vote of confidence from those in the know.

Worya

Yes, bought in just before NY opened at £10.31 would have been better to get in eariler at cheaper price but held out too long. Sold just before LSE close at £10.59 also sold an old buy at £10.30 from months ago (GG must have spent hourts tracking it dowm) at same time. A little more help to agaist my losses. If dips tomorrow will hopefully repeat.

Broomtree

I have been playing the hand I was dealt as best I can and I have traded this quite a lot but reluctant to put too much cash in the trades as at any time could be burnt by another one of Rusty's cunning plans so just recycle the same cash. Got my average down from around £14.50 to £13.76 but it does not alter the fact OB has been ramping this for a time and in that time the shareholders have lost vast amounts of cash. I agree DEC back in the day was a good investment but this came to an end when Rusty went on a binge buying spree with our money and OB seems to be oblivious to the harm this has caused. There is a saying in investing "it does not matter what you think it is what they think that counts" and OB only takes into account his own opinion living in his own bubble with no regard why the market disagrees with him. At best we got lucky (some would say otherwise) with Trump, without him we would be stuck with restricted NG exports, AROs, other ESG issues and higher taxes and yet still the SP is in the gutter, you don't have to have been burnt to see this. OB also pushes another one of my disasters SQZ in the same way as DEC with the same results, not exactly the Wolf of Wall Street, follow his advice at your peril.

JIM800

The thing I find is that companies in trouble seem to have a lot of one of costs and when I see these I avoid like the plague and almost always was a good move.

However I am certain that in DECs case this is not true but the clear as mud reports with statements like paying back debt while greatly increasing it do not help along with the outright lies that have been told. DEC need to stop this and have a period of calm and hopefully we will get back some of our losses.

So more funding and no sign of profits, as I have said a number of times looks like a lifestyle choice for the BOD, this company needs someone in charge who understands finance and the need to make a profit not just soak up more cash to pay the BOD to indulge in there hobby and dreams.

Broomtree

“Terry, with respect that’s harsh! fair enough like Malcy, he tends to be positive but I’ve never thought he’s suggesting anything like that regarding being millionaires”

The millionaire’s statement is not meant to be taken literally but a satirical statement on his analysis in that like Del boy he keeps predicting a bright future and like Del boy the opposite happens.

The best way to describe this is that most long term shareholders would consider breaking even (without taking into account inflation) to be a great result and that is a very long way off. So in a sense as Del boy seems to go nowhere and DEC goes heavily backwards DEL boy is doing a better job than the DEC BOD for shareholders but of course great for themselves. Has OB asked how is it right Rusty can give himself more shares while tanking the dividend and the SP all against rising HH market. Any analysis on the fire sale fund raise and the damage it caused, I think there was some mention.

IMO his constant ramping against a tanking SP with no credible explanation why no way is this statement harsh just a fact.

“I find his work with the (difficult) presentation of the figures very helpful and understandable”

This is true but looking at almost everything with rose tinted spectacles is not good analysis just ramping, he stated a long time ago DEC SP was undervalued and it tanked since then, we all know the reasons but he does not even mention this.

“If I’ve read him right he wanted to ask a question on the tax/loss issue but wasn’t picked”

And that says it all, he should have stated this is more proof that DEC are not interested in shareholders but just want a stage managed presentation so Rusty could pat himself on the back for the great job he has done and work out how he can give himself more shares, after all his salary is in question from the last lot of voting.

OB now joins the list of shareholders like JC01, myself and I am sure many others who are totally ignored by DEC, let see him pick up and run on this one, if he did I would give him more credibility in my eyes.

Another poor update with the usual excuse of

"challenging market conditions"

Just adds to the disappointment in this company.

My take on some things in the accounts

Rusty’s statement

“Diversified is off to a great start in 2025 “

Really SP down 26.96% in that period or perhaps he means his salary and free shares.

“Thus far this year, Diversified has returned over $59 million to our shareholders through dividends and share repurchases”

I have not seen any of this and in fact lost a hell of a lot more in tanking SP and share dilution.

“while we continue to deleverage naturally from principal paydowns of our debt”

No mention of overall large increases in debt some of which is used to pay down debt.

“we will continue to take advantage of the current cycle and market dislocation to opportunistically repurchase shares”

So why have BBs stopped or at the very least been pause.

“Diversified has a proven track record of managing through challenging markets”

So HH up and SP tanked must be quite challenging to achieve this.

Figures

Comparing 1Q25 to 1Q24

Finance costs 42,820 27,416

Huge increase

1Q25 1Q24

$/Mcfe $/Boe $/Mcfe $/Boe %

Average Realized Price(1) $3.78 $ 22.68 $3.25 $19.50 16%

Adjusted EBITDA Margin(a) 47 % 49 %

Down against an increase of Average Realized Price

Net debt-to-pro forma TTM adjusted EBITDA 2.7x 2.4x

Up against an increase of Average Realized Price

Free Cash Flow(d) $61,934 $73,206

Down against an increase of Average Realized Price

I take from this that all these acquisitions have not been accretive but in fact the opposite, message to Rusty, if it ain't broke don't fix it.

Anyway good news is SP going back up today, lets hope NY does not bring it down again.

As I have said before you can sum up OB's DEC articles as "this time next year we'll be millionaires"

As already said contains a lot of if, buts and maybes one thing to take from this article is about the loss, even after his detailed analysis he cannot explain this just some guesses which is a reflection on the clear as mud reporting strategy from DEC specially prepared for the mushroom shareholders.

I have been thinking again about the poor SP performance in NY yesterday, is this partly due to profit taking and perhaps mostly due to no BBs which have been propping up the SP, I guess the good news is the SP still rose without the BBs, next few days should be interesting and give a better indication on the SP trend.

JC01

Agreed, as I am sure you know I have been banging on for a long time, so far these so called accretive acquisitions have achieved a 2/3s reduction in the dividend, a huge high price debt pile, share dilution, share overhand, a lot of burnt shareholders with long memories, most shorted share for months, lack of confidence in DEC management all of which caused the SP to tank. As I have said many times 8 out of the last 8 acquisitions have caused a serious SP collapse, DEC is a great trading share but a very poor investment.

We can only hope Rusty has learned his lesion which I doubt or the IIs have put a stop to his shenanigans and we are entering a period of stability which will lead to recovery, only time will tell but hoping for some trading opportunity's along the way.

Disappointing day in NY, must admit I was expecting better but I guess this is due to the large overhang of shares in the US and a lot of people got burnt recently so selling out on any rise and no BBs to help out either. As JC01 says recovery will be long but going in the right direction.

Give it time, I would expect some profit taking and then going up but what do I know.