Diversified Gas & Oil Share Discussion Threads

[lord gnome] 19/10/2018 15:49

Six weeks? You'll be lucky. Barclays failed to transfer one of my holdings and 'lost' it. It was several months before they finally got round to finding it and transferring the shares, even though they were still listed in my 'closed' Barclays stockbrokers a/c. I had two lots of compensation off Barclays for their incompetence. They still send me letters demanding money for account fees, months after the account was closed. I have been keeping them all just in case they ever threaten legal action for non-payment.

[plootocrat] 19/10/2018 14:31

LG - I totally agree and opened an II account last year. I am gradually migrating funds and stocks across from Barclays to II. I don't want to move the whole account in one lump as I will be out of this volatile market for around 6 weeks whilst the transfer takes place. I am also looking at moving some to HL, partly for spread of risk, who are currently offering a worthwhile financial incentive to transfer accounts from other brokers.

[jimbowen30] 19/10/2018 06:38

Does anyone use Selftrade? Looks like they paid the dividend net of 15% withholding tax in ISA’s.

[blueeyes13] 19/10/2018 05:19

I'm with AJ Bell and yes you need to complete the form. With this only 15% withheld in non Sipp and 100% of divi paid into Sipp. Problem with AJ Bell is they take about 2 to 3 months to pay USD divis where they allegedly receive it by US Cheque. Other platforms seem to pay very quickly so AJ Bell do appear to have a much slower system in place for some reason. I've complained to AJ Bell several times about this re DGOC and SPSY divi payments previously and still have a formal complaint in process.

[plootocrat] 18/10/2018 23:27

Barclays told me in March that as DGOC is listed in London that there would be no witholding tax, then paid the recent dividend net of 30% witholding tax. They have acknowledged their mistake and compensated me but the lesson is you do need to complete a W8BEN (though not with Barclays who do not offer that service).

[rhubarbcrumble] 18/10/2018 21:48

According to AJ Bell the answer is NO, as they are registered in UK.

According to Hargreaves Lansdown, the answer is YES.

[alter ego] 18/10/2018 18:55

Yes is the short answer. You will pay some witholding tax but a lower rate.

[cornishpasty777] 18/10/2018 17:25

Hi guys, new investor here and first post on thread. Question to anyone, as a uk investor do I have to fill in the W-8Ben tax form for the dividend payments? Thanks in advance.

[blueeyes13] 18/10/2018 10:08

Following on from our messages just yesterday, its good to see the VP of Finance wholeheartedly agrees with us!! :-) Always good when an inside senior person finance or otherwise buys a decent amount in open market over and above their potential share options. All positive. :-)

[nimbo1] 18/10/2018 09:54

Yes its always nice to see a reasonable purchase on the open market. I suppose it should also do ok into the next ex dividend date as tends to be the case.

[lord gnome] 18/10/2018 09:41

Yes indeed. Not to be sniffed at. Seems to have encouraged the share price this morning.

[alter ego] 18/10/2018 09:22

vote of confidence.

"Bryan K. Berry, the Company's Vice President of Finance, on 16 October 2018 purchased 67,000 ordinary shares"

[nimbo1] 17/10/2018 14:51

hxxps://oilprice.com/Energy/Natural-Gas

natural gas price up again.

[lord gnome] 17/10/2018 14:10

LoL thegreatgeraldo. That's what I thought when I read it. The Times obviously doesn't pay its journalists enough.

[thegreatgeraldo] 17/10/2018 10:19

jonboy9
17 Oct '18 - 05:37 - 494 of 499
0 1 0
From today's times:
Diversified Gas & Oil

Diversified Gas & Oil has about 50,000 wells, some producing as little as 3,000 to 4,000 barrels of gas a day but with a guaranteed lifetime that can be as long as 50 years.


...this journo knows his/her stuff. Presumably he/she meant 3/4,000 boe per year

[basem1] 17/10/2018 10:16

Mr Seller seems to have finished ?

[lab305] 17/10/2018 10:02

In a recent interview Hutson stated that the latest acquisition will immediately save 6 to 7 million per year in cost synergies alone. If we take a figure of 33,000 to plug a well ( which is much higher than DGO's estimate) then there is enough to plug at least 180 wells per year just from that.
Since the DEP of Pennsylvania was demanding around 1000 wells be plugged over 5 years there is enough here from savings to almost cover the plugging cost. Why therefore is the price so low and why has the decommissioning issue been magnified ?

[basem1] 17/10/2018 09:19

Well that says everything $250m Ebitda against $773m mkt cap. Just too cheap.

[nimbo1] 17/10/2018 09:05

The problem dgoc have is their acquisitions have been too fast for the market to get its head around, I suspect this current half's results will have an impact. As rusty said in most recent results this half will be transformational. Not a problem for us though if we are still buying accumulating. My 18 month target is a 15% dividend from todays price and a share price starting with a 2.

[blueeyes13] 17/10/2018 08:58

Stockopedia has current PE of 13.8, 8.33 on 12m forecast rolling and F/e2019 of 7.55 which I think is too high given how EPS should grow. Stocko also has rolling forecast yield of 7.9% again based on current price which I believe should be more like 10% after latest acquistion. Interesting Rusty in the Recent Directors talk interview states they're now a usd250m EBITDA co!! Current mcap USD773 according to Stockopedia. I believe seriously undervalued and value should out over next 12 to 18 months. I welcome other's comments and forecasts after recent Core acquisition.Regards

[basem1] 17/10/2018 08:10

I don't think that PE Ratio figure is correct either. I was thinking single figures, not 19.

[jonboy9] 17/10/2018 05:37

From today's times:Diversified Gas & Oil The judicious ordering of words in its name means that Diversified Gas & Oil can avoid the rather unfortunate acronym of "Dog". As an investment proposition, this company is nothing of the sort - and, in fairness, about 95 per cent of its business is in gas rather than the black stuff.It was created in 2001 as an oil and gas production company in West Virginia and has been a spectacular growth story since it listed on Aim in February 2017 via a 65p-a-share placing that raised $50 million. It set the tone only 21 days after its float with the first of numerous acquisitions.Diversified Gas & Oil has made no fewer than eight purchases, most notably in June buying assets from EQT Corporation, of the United States, for $575 million, its biggest deal yet.Its proposition is intriguing. All of its assets are in America's Appalachian basin, stretching across states including Kentucky, Ohio and Pennsylvania. Rather than exploring, it buys wells that are producing from the big US shale operators that are keen to get out of conventional drilling to concentrate on fracking. It manages the production process, often more cost-effectively than the previous owners, which retain the right to drill on the field more deeply using their preferred technique.Diversified Gas & Oil has about 50,000 wells, some producing as little as 3,000 to 4,000 barrels of gas a day but with a guaranteed lifetime that can be as long as 50 years. It has been financing its deals through a combination of credit facilities and follow-on share offerings, including for $250 million at 97p a share in June.The shares have suffered several recent hits amid press reports in Pennsylvania that it was facing closure and clean-up costs on finished wells of $100,000 apiece. The reality is more like $25,000 and the company is close to a firm annual arrangement with the Pennsylvania state department for environmental protection that will provide some certainty.The shares, up ½p at 106p yesterday, trade at a multiple of 19.7 times earnings but have a forecast yield next year of more than 9 per cent. Compelling. ADVICE Speculative buyWHY Well-run, high-growth at low-risk end of the market

[nimbo1] 16/10/2018 14:41

just purchased some more. my divi here will be chunky at this rate.