Member Info for VistaMan

Lampedusa,

That's a very "careless" statement by Alex Smith of Investec. The sum he mentions of $174 MM is not the interest payment but is probably the amount of the Amortizing Loan repayment for the year. There is quite a difference between the two!

As of June 30, 2023 Diversified had $1,555 MM outstanding debt across its various ABS loans, Term Loan and Credit Facility. Using the blended interest rate the annualised interest as of June 30 would be $95 MM pa. Debt would have been reduced by $135 MM in the second half of 23 and then by a further ~$200 MM through the SPV Asset Sale. So interest payment for 2024 should be of the order of [(1555 - 135 - 200) / 1555] * 95 = ~ $74 MM.

GP, yes that is correct. Share held in an ISA with HL with a W8BEN on file also.

GP,

1.347p with HL.

Ameen, I thought Larkin was an accountant himself?

Vista.

Ameen, I don't know if Jono lost money in the past or not. What I do know is that everyone that is holding this share now has lost money including myself.

There has been nothing but negative news this past 6-12 months:

High rate of decline at Abu Sennan

Loss of Maria disposal/license

Departure of COO

Departure of COO

And now loss of interested farm-in partner in Jamaica

And yet through all of this the various rampers on this board have continued to listen to Larkin's BLather and turn it into positive posts which have failed time after time to materialise. If you look back over this period you will find Jono's posts have been a lot closer to reality than theirs.

GH, again, you didn't point out what basis he would be looked at favourably based on UOG.

I suspect its his various previous roles in other companies which have stood him in good stead for the role at DAA plc, after all he was only at UOG for 18 months.

GH you stated: "Clearly he is looked at very favourably with the job he's done at United."

Peter joined the board on May 5, 2022 when the SP was 1.65p and the production was 1,567 boepd.

His departure has been announced with the SP ~ 1p and production ~ 1,000 boepd.

I don't hold Peter responsible for this decline but on what basis could he have been looked on favourably based upon his UOG tenure? (Remember the failure of Maria disposal also)

I found Peter Dunne to be the most straightforward (no BLather) of any of the directors I have heard on various investor calls. It must have been a "no brainer" for him to move to CFO of DAA, who made profits of > E50MM in the first half.

Even with that, it's hard to spin anything remotely positive out of losing both a CFO and COO in a short space of time.

GH, only time will tell, I hope the SP massively exceeds 3p but economic realities will determine the outcome. Show me some recent farmouts where investors pay cash as well as drilling costs for a frontier basin.

GH, my guess for the SP on a successful farm-out is 2p - 3p, depending upon the terms they achieve. Remember this is an unproven frontier, exploratory drill they are farming out with a 17% COS.

If they achieve 3p I will be gone.

Louis10, you clearly don't own any I3 Energy shares and only post here to disrupt the board. The vast majority of I3 Energy shareholders that post here just want you to go away as you post nothing relevant or of value to us. Please grow up and I can assure you the vast majority also have no interest in OMJ or his subscription newsletters.

Hms687, yes I do know how to calculate the monthly income. I was trying in a gentle way to get burnemc to realise he had made an error which he has now acknowledged and apologised for. (Not many on LSE do that!) FYI, I am a chemical engineer and have worked in this industry.

Burnemc, from the interims RNS:

"the well has the potential to deliver in the region of 900 bopd net production to Beacon. At those flow rates, the Company would expect to deliver operating cash flows in excess of US$1.5 million per month (assuming $80/bbl Brent)."

Burnemc, could you show your workings how you get 1.5 million per month from 250 bpd please?

Chinch, how exactly is Maria a game changer? Its a very modest amount of funds spread over multiple years IF it actually happens. Its maybe enough to keep UOG afloat for a while. Remember its just last year that Larkin was telling us that UOG was going to retain and develop Maria.

Meconopsis, that would make no sense. 15% withholding tax in IS A versus 0% withholding tax in a SIPP.

Greygeorge, that being the case then perhaps you should sell now and give us all a rest here.

Sweepie, remember that 180 days after the drawdown of each tranche of the loan that Tern have to begin paying back that tranche of the loan and complete the payback within 12 months! So they have to start paying back in mid December. As they don't have any income stream the payback of each of these tranches will come from where?

1. Issue of Shares?

2. Sale of WYLD shares?

3. Sale of an investee company?

They haven't shown any ability so far regarding the 3rd choice.

Gavster-NBC, I am certainly no fan of Simply Wall Street but I agree their articles could be off-putting for potential new investors. Serious investors however certainly won't be deciding on investments based on Simply Wall Street. I have written to their editorial team on a number of occasions. (I could attach a message I sent in response to an article on January of this year(2023) but for brevity I won't). This was in regards to Hurricane Energy. Simply Wall Street were referring to debt (it had been fully paid in July 2022) and a 10 year cash flow estimate when the sole producing field, the Lancaster field was due to shut-in in mid 2025. Their response "The article was based upon June 2022 interims".

Just one example of the misleading / inaccurate material they publish.

Banburyboy, apologies, read the presentation which did not contain the statement "The gain on acquisition is a non-taxable accounting entry" which the report does have.