Member Info for VistaMan

adv11, if you look back the DGOC SP seems highly correlated to Henry Hub gas price. I hold these primarily for the dividend but the gas price might provide some trading opportunities as well. If you want ZERO tax then buy them in an HL SIPP. (with a W8BEN)

Let me start off by saying I am a LTH and will over-subscribe to the open offer.
However the burn rate was £200k per month before the funding was announced and now its £260k. I would like to know how this £260k per month is being spent. I don't know how many employees they have but it sounds a lot.

Anyone have any ideas when the GM might be and when we can expect to hear details / timing of Open Offer?
Need to know in advance to have funds available.

Do you mean the August Corporate Update? I can't find any June presentation.

adv11, what I have quoted is how Hargreaves Lansdown treat the trading / dividends of DGOC, can't make any comment regarding other brokers. I am still expecting the dividend per share to continue rising with continued acquisitions and buybacks as long as the 40% FCF policy stays in place.
Good Luck!

Commando, you need to have a W8-BEN form completed to trade DGOC. It takes 5 minutes to complete online and trading can usually commence within 24 hours. With a completed W8-BEN you will lose 15% in an ISA and Zero in a SIPP. You will lose 30% if you don't have a W8-BEN in an ISA. Even with a 15% reduction in an ISA its still yielding ~9.5% and likely to rise with accretive purchases and share buybacks.
I believe the company are looking at the tax position of dividends in the UK to see if the position can be simplified.

Larus, Not sure how you read the RNS that way. RNS states that they reduced from 5.83% to 4.64% on Aug 1 with a holding of 607,971.
The previous TR1 from Macquarie on Feb 20 stated 5.93% with 747,588 shares.
I don't see it as a negative that they have reduced their holding, rather as progress as the IIs work to de-risk their large holdings in RRE to meet their fund / portfolio rules.

Have a look at the link, supplied courtesy of denziiil on twitter.
Analysis has EV / EBITDA of 0.3X for RRE. Nearest "similar" has ratio of 2.0X.
Articles goes on to say they would not expect a re-rate for RRE beyond 3X to 4X due to the current market sentiment felt towards the O&G sector !
Imagine what even half the re-rate would do to the SP!
Wait until Cavendish has sold to the level their fund management rules dictate. In the meantime there can be some bargains here thanks to them.
http://blog.journal.investments/rockrose-energy-valuation-analysis/

£150m profit pa is way overstated. Remember Arran is mostly gas with some condensate. Think you are using way too high a multiple for those BOEPD, no need to ramp this share!

Surfi,
Do you honestly believe that with the cash RRE has available they are simply going to stand still and not add reserves / production? Look at the growth trajectory of the company, from its initial raise of £4.4MM in 2016. With a track record like that and lots of available cash I can only see reserves / production going one way and its not down!
Vista

Anyone with and modicum of sense knew that another raise would be required. I knew this when I contributed to the Open Offer, 10 months was never going to be long enough to get to revenue generation. Depending upon the nature of the fundraising its good news that this is now hopefully proceeding in order to enable QFI the time and resources required to get contracts signed!

tigger, I wish it was $225MM but $22.5MM is the correct number.

chimers, you will find nearly all the LTHers post on ADVFN. I read ADVFN board but find it very wasteful in terms of time required versus knowledge gained but still do so on a daily basis!

Everyone is expecting a corporate event (VC taking up a share at a higher than current valuation) for FVR, but then this has been widely anticipated now for ~2 months and its getting rather boring waiting as there has been an absolute drought in terms of official news (RNs) this past 4 months. Offsetting that has been presentations by FVR and DA at the Capital Markets day which were quite positive without giving any figures.

Vista

See link to tweet of Malcy referncing Jamie Nimmo of the Mail on Sunday.

https://twitter.com/mgrahamwood

Vista

People should always do their own due diligence! Just because something appears on the internet doesn't make if factual. Articles often have motives beyond what appears to be so. See interesting article on manipulation / bullying on financial bulletin boards.

https://www.reuters.com/article/us-online-stocks/special-report-the-stock-the-web-the-ceo-and-his-lawyers-idUSTRE6AL1S520101122

Vista

romaron,
Their production is 90,000 boepd post latest acquisition completing. See updated presentation link. Next quarter the regular quarterly dividend will be increased to 10% pa. Dividend policy of 40% of FCF. Good for a retiree like me!

https://d1io3yog0oux5.cloudfront.net/_16424a45b7d06b8b8eb7b884645e1dad/dgoc/db/557/4307/pdf/DGOC+-+IR+-+Huckleberry+-+Acquisition+vF.pdf

Yip, I did leave off the "/share" by mistake BUT its clearly what I was referring to from the earlier acquisition RNS. I can't believe there is so little apparent interest from PIs in this share. (judging by the activity of this board)
For me its a great dividend share which will be earning 9.8% (at the current SP and exchange rate) which is highly defensible given the low well depletion rates. Only downside risk I see is local US Natural Gas prices.
The acquisition track record and now a share buyback should help support modest capital appreciation as well.
I continue to buy.

Wahlberg, I appreciate its net income that's used for the P/E multiple but we don't even know the tax position for 2018 yet never mind post Marathon acquisition for 2019. EBITDA is what is available, the NIAT for 2019 will not be known until April 2020.

I believe AA said in an interview an EDITDA of $200MM post Marathon acquisition but that of course depends of oil and gas price.
With 12.59MM shares in issue this would give EPS of = 200/ (12.59 * 1.31) = £12.12 per share. You can work out what the SP would be depending upon the P/E.

Yellowsnow, more bull s**t as usual. DA had a total loan (not just from Tern) of $532k in mid January. In mid April they just received a total loan of $419k. If you look back the loans have been once a quarter. So for 2 quarters the total loan has been $951k. This is a monthly burn rate of $158.5k, nowhere near "$400k minimum" you quote but when have you been interested in the truth anyway!
As Sweepie states there have been a lot of staff additions and new office accommodation and the burn rate is reducing and hence clearly revenue is increasing. Maybe not at the rate we hoped for but it is demonstrably increasing.