Member Info for VistaMan

Nobody said it was an accounting standard, it's a metric and perfectly valid as such, waste of time conversing with you any further, you are the type that argues black is white and I don't have time for a "30 minute argument" .

You can believe whatever you want. Try googling it and arguing somewhere else.

Gregeorge, really surprised you don't know what PV 17 is! It's the current value of future profits discounted at 17% to arrive at the purchase price of the asset. The higher the number the better the deal / lower the risk.

Chinch, there were no difficult questions put to Brian in my opinion, he just blathered for the hour without providing really any additional information. Promised to do a better job of keeping shareholders informed and tried to make

"piston core sampling" and a little "seismic reprocessing" sound like really impotant future newsflow! All tailored IMO to try and make sure shareholders approve the recent raise at next weeks GM. Even tried to suggest the 4:15pm RNS announcing the bookbuild was to enable PIs to participate in the raise!

Camkite, would happily vote my shares to get rid of Sisto, wouldn't mind if Richie was collateral damage.

I have criticized the Board before for lack of communication previously but it looks like they just did a copy and paste from the February 13, 2023 Project Update.

Could have been much more concise and just said no progress!

What are these people doing to earn their salary?

Alavib, I am sure you realise that 56% of those BOE are gas. At current gas price of 71p / therm the BOE price for the gas is $52.3 giving an operating margin of $33.3 per BOE for the gas.

Then of course SG&A, CAPEX, interest, dividends, tax, DECOM, etc have to be paid. The number you quoted is certainly not net income.

Ameen, if you were on the call today would you like to summarise what you heard? Did Larkin allay any of your legitimate concerns?

Do you know if Larkin plans to communicate with his wider shareholder base via the normal "Investor Meets Company" platform or similar?

Regards.

GH, Who says the asset is worth $3.8MM? Larkin was prepared to sell it for $2.05MM effective November 1.

Don't be surprised if we see an injunction on EGPC to block any further payments of the $0.8MM owed.

This whole episode, how would like play out in farm-out discussions? It makes UOG look an even more an unreliable partner.

GH, did you get this direct from BL? If I was the operator I would be looking for UOGs share of the revenue since they stopped paying their share of the costs. I would be surprised if there is not a legal case after the 30 day period has passed.

Its seems to me that UOG have shafted the operator here and have not been paying their share of costs for quite some time.

Now that there is no revenue or money, who will pay BLs salary as god forbid we couldn't leave the poor man's efforts unrewarded! I think he needs to take a haircut the size that we shareholders have taken!

I am shocked that Jamaica would extend a license with a company that hasn't delivered (a farm-out)and has no funds to deliver anything in the future. A placing at this current price wouldn't be supported.

Fair play to GingerHippo for at least showing up today given how many of his predictions have turned out to be worthless.

GG, I showed my workings and my source of data, I didn't boost it as you imply. My reserve life index was based on PDP reserves. (Proved, Developed, Producing)

You know but may not choose to acknowledge that DEC could drill on many, many locations on their acreage if that was their choice to increase production and PDP reserves.

I haven't recommended anyone invest in DEC. That is for individuals to decide and hopefully based upon their own research. What I have posted today was merely in response to a question from simplyme. My other post was to highlight an error on the annual interest charges that was posted by Lampedusa from an article in IC that was quoting an analyst from Investec. I am following up with IC / Investec.

I am quite happy to retract any post / apologise if you can demonstrate anything that wasn't factual.

GG, you see that is the difference, I don't resort to name calling or insults. I try to argue my POV with facts from named sources. The fact I can't get you to accept what I am stating doesn't mean I am wrong and you are correct.

I don't take everything a company states as gospel or believe that DEC is disclosing everything BUT you don't accept ANYTHING that DEC reports at all, you obviously know better, or so you think.

GG, We are talking entirely across purpose. You state "they claim the average remaining production life of the wells are 50 years". Having a reserve life index of 17 years is in no way contradictory to this average remaining well life. One is measuring how long it would take to deplete the reserves at a constant production rate, the other is how long the wells can produce economically. Those can be entirely different numbers quite legitimately.

GG, I don't know everything about DEC wells but the vast majority of their wells in Apalachia are beyond the exponential decline phase and will continue to produce for many years at lower and lower rates.

I accept their daily production rates and their PDP mumbers as they require independent audit / assessment.

I don't understand how you conclude that "but you think they're being very dishonest about their declared remaining average well production life"

GG, If thats a question you are asking me then frankly I don't know what you are asking.

My original post was replying to "Simplyme" who was asking "how many years of reserves do others get?" You have to assume constant production to get that number.

GG, you aren't that stupid, those are PDP reserves. To work out a reserve life index you have to assume a constant production rate. Reality would be a declining production rate over a much longer timeframe. ( if no acquisitions are made)

Simplyme, I haven't delved deeply to get you an answer as there were a lot of reserve additions and sales in 2023 BUT taking the Dec 31 2022 year end report, DEC reported 830 MM boe of PDP reserves. Taking the latest Q3 daily production rate of 134 M boe and ASSUMING CONSTANT going forward production rate I get 17 years.

Blackrocktrader, the 95 is the $95 MM I calculated as the annual interest rate based upon the outstanding debt as of June 30 2023 interims. I then attempted to work out the interest based upon repayments of the outstanding debt in H2 2023 and a futher reduction in debt due to the SPV Asset Sale.