Member Info for TerryM1

If they start drilling it is much more risky and watch the price crash if there is a duster.

Taken a bit of a risk and used up my last amount of free cash (without selling my MM funds) to buy a small around the £10.00, this was because DEC LSE price is below NY close and pre market, not planning to hold these long if all goes well.

Asp1

Good analysis, looks like you are after Oakbloke's job.

I tend to believe there is massive potential with DEC if HH stays above $3 which is why I still hold and happy to trade but the elephant in the room as we all know is Rusty's insatiable urge to keep buying, DEC does need to keep some buying to offset decline and perhaps grow a bit but not to the point of a fire sale of shares or always trashing the SP. What I am hoping for is Rusty to have leant a lesion and pauses for a time which IMO will allow the SP to recover to some extent.

DEC talks a good game with BBs putting through resolutions for 10% and only going through with a few and they end up being sporadic and anaemic and best described as comic, Rusty wants the cash for more wells and is only interested in creating more shares for this purpose so any BBs are swamped by the new shares.

If we see a significant BBs then this is a good sign not planning more deals, don't hold your breath.

Asp1

Should have added I love your polite responses with people who have different views unlike a few/very few others here who turn to insults, especially as emotions are running high due to large losses of LTHs. I may not agree with other peoples views but good to see an alternative otherwise this becomes an echo chamber.

However I would like to rid of the gruesome twosome who have nothing to add except conspiracy theories.

Asp1

I love your optimism, £28 a share I will take that.

I do agree the fundamentals of DEC are nowhere near reflected in the SP but the incompetence of the BOD is. The question is will the fundamentals overcome the incompetence, IMO will meet in the middle once the current share overhang has gone and providing no more shenanigans from Rusty, I live in hope.

Just got my voting from II, voted against all but the essential items i.e. auditors etc.

Looks like SP now trending up so well done to all those that bought at a low level and glad I joined you, will have to wait for NY to open to see tell LSE what to do, good luck to all, we need it.

Jim800

"I’d say Rusty is focussed on profitability at the expense of SP temporarily, hoping that time will prove him and his numbers right and close the gap between share price and NAV"

The question is there greater value with BBs as DEC is trading well below NAV or new acquisitions which are a little below NAV which dilute DECs NAV with the shares allotted, the issue is Rusty is desperate to be in charge of as large as company as he can at all costs and to hell with the shareholders. I just hope we do not get the comedy BBs again, $21m last year, pathetic, however I believe any free cash should be allocated to greatest cost, i.e. BBs if yield above debt otherwise debt repayment but defiantly no more acquisitions or increase in Rust’s salary and no more cheap/free shares to Rusty and the gang. BBs should have been taking place when SP in the £8s and £9s but DEC in panic mode so missed the best opportunity to add shareholder value and cut cost of dividends, I guess no cash and they raided every pig bank/Christmas saving plan they could find to help get them out the mess they created. However some BOD buying would have helped confidence but BOD don't care.

"You can see the emotional market response over at ENOG today. SP dropped previously on notification of an asset disposal and has now dropped again when it looks like disposal won’t conclude! Both of those can’t be correct."

It dropped not because it looks like disposal won’t conclude but because ENOG committed the cash from the disposal to more assets and developments and is now stuck on how it is going to finance these. Same situation DEC got itself in except DEC could not raise the cash by more debts, ENOG because of potential unexpected problems with regulation. May well be a good trading opportunity with ENOG now, either way poor management spending money you do not have.

Poor results on all metrics, lots of excuses including their favourite

"continued challenging macro conditions"

This company is a big disappointment every since the fund raise when I bought some shares, it has done nothing good and now blames everyone else except itself, just wish they put as much effort into making money than coming up with excuses.

"One frequent poster is notably AWOL today...."

YIPPEE, the gruesome twosome will crawl back into the woodwork now.

JC01

As I see this there are 3 things holding the SP back, the large number of shares in the hands of the underwriters and companies who got these as part of the deals who either have to or want to get out, the lack of trust in this company to do the right thing for shareholders including lying and the huge debt pile. There is a lot to overcome but hopefully we are seeing the start of a recover if no more deals we may one day get to £14s again but the £28 it was before is nothing but a dream even with HH going up.

JC01

"I’m ever hopeful to get a re-rate and get out."

Like me and that where a lot if not most of the long term holders are, says it all about how this company is now being run, best I can hope for is to trade a bit to mitigate loses and hopefully not to be holding these trading shares when Rusty announces another deal.

The results look OK but what strikes is is the huge debt pile, 202 wells capped so just 2 over the bear minimum, we already knew about both of these.

I notice

"Retired over $200 million in debt principal through amortizing debt payments"

was in the last report along with the 202 well retirements, for debt $200m has been repaid but no mention on what has been added, and this before latest lot of debts. Using these figures debt is 3 times market cap without new debt, dread to think what it is now.

Also no not sure what is include in these figures from recent acquisitions, the Maverick deal will obviously not be included. It would be very use to have some proper forward guidance broken down to know how the deals have changed the figures.

At least the SP is recovering a bit, hopefully NY will add to this.

Asp1

"The initial market reaction to the Maverick deal was positive but turned pear shape quite naturally when extra equity was raised."

Who told you that then, before Maverick deal announced shares traded up to a high of £14.22, after deal around £13, after equity raised announced dropped into the £8s.

JC01

Shareholder no more than a nuisance to Hutson, sent 4 messages in last month to IR and one to PeelHunt no a single reply, says it all.

For recent history DEC do not pay down debt, as soon as cash available buy more wells and increase debt at high rates. If no more buys it will take a long time to pay down debt, not sure how it stands now but before last buy debt around 3 times market cap now much more perhaps 6 times perhaps more and debt at high rates so a lot of cash going in interest, will know more Monday.

Https://www.proactiveinvestors.co.uk/companies/news/1067934/supermarket-income-reit-earnings-leases-strategy-icymi-1067934.html

Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF) managing director, Robert Abraham, and finance director, Michael Perkins, talked with Proactive about the company’s interim results for the six months to December 2024.

Thronegames

These shares were effectively swapped for assets i.e. more wells so more shares, more assets more production, this should mean no change to dividends, more money coming more dividends to pay.

Worya

I had to make a number of smaller buys otherwise the price was more and taking into account dealing costs and PTM levi was better off, also could not get a quote for larger buys yesterday. Got told off from II once for doing this as it trigged some sort of check and when I asked what the problem was they said a lot of small buys in quick succession can be used to influence the price, I guess some FCA box ticking thing.

With all the activity at DEC suspect Mondays figures will be a gordian knot, will take at least 6 months to make sense once the deals are properly in the figures, that is of course if not more deals appear before the next report. One thing I will predict is the Oakbloke will think them great.

Jim800

Trek and a few others called it better than me but trying to call the bottom is near impossible and was waiting for it to trend up a bit, hopefully we will all do well out of this dip but will take big rise for me to break even, average now £13.85 if take into account dividends down from around £14.50 before the last set of trades so a long way to go.