Diversified Gas & Oil Share Discussion Threads

[sogoesit] 13/3/2019 15:36

Once each per reporting entity. Renewed submission every 3 years approx.

[croasdalelfc] 12/3/2019 17:20

Question about Tax on Divi: does the Form W-8BEN only have to be done once : my employer is US and I get shares in SIPP and divis - so I have already filled in form for that

[sogoesit] 11/3/2019 15:17

Yes, it’s adjusted periodically in the accounts with new liabilities written off to the P&L.
See Notes 2 and 10 to the accounts.

[shanklin] 11/3/2019 14:59

Presumably almost all of that is under long-term liabilities?

[sogoesit] 11/3/2019 14:55

The ARO Liability stands at $140,190,000 at 31 Dec 2018 on the balance sheet.

[carcosa] 11/3/2019 11:44

Bonds are:
$7.0m Pennsylvania
$1.5m Kentucky
$3.0m West Virginia,

[podgyted] 11/3/2019 09:48

I think I'm right in saying all/most states have required a bond to be posted - but in total they are only a few million.

[lord gnome] 10/3/2019 16:05

I think the current agreements are instead of that Croasdalefc. Pay as you go, decommissioning a set number each year. Not the same sort of money required as in the North Sea.

[croasdalelfc] 10/3/2019 11:24

Does DGOC have to resist cash for Decommissioning Security arrangements like RRE?

[lab305] 09/3/2019 14:32

podgyted you are right. Stupid analysis when it says there is little cash on the balance sheet and completely fails to mention that they have paid off $70million of debt over the last 4 months.

[podgyted] 09/3/2019 13:31

FYI

Investors Chronicle still has as a hold.

"The broker also applies an even more bullish valuation to DGO’s assets, and believes "the gap to our 160p NAV will close as the market gains comfort in the business model". We’re a bit more tepid on a fast-moving strategy which left just $1.4m of cash on the balance sheet at the end of 2018. Hold.

Last IC View: Hold, 119p, 20 Feb 2019"

I keep on meaning to stop my subscription this could be the nudge to do it - NEVER seen such cr*p superficial analysis (and I'm not just saying that 'cos it's one of the shares I hold).

[bountyhunter] 09/3/2019 07:55

clearly a typo as the whole article is about the agreement just announced

[lab305] 09/3/2019 07:48

Yes. Looks like a typo! I just copied it .

[alter ego] 09/3/2019 07:06

now that there is no agreement

This paragraph makes no sense to me.

Should the word “no” really be “an”?

[lab305] 08/3/2019 23:45

Significant relief to investors
In afternoon trading, shares in DGOC were 6.7% higher at 112p.

In a note to clients, analysts at SPAngel commented: “The second long-term decommissioning agreement with the state in which the Company operates, this time Pennsylvania, should be a significant relief to investors as the overwhelming majority of the DGO's wells are within the state.”

They added: “As we have highlighted previously, these agreements are important as it allows the Company both time and space to address its abandonment liabilities, the vast majority of which can be considered "current" under state law.

“Furthermore, and as we have highlighted previously, now that there is no agreement for its entire well stock within the state, there can be no retrospective application of the planning and abandonment law for wells that are currently liable for abandonment.”

The analysts concluded: “We believe that the Company's owners should be pleased with the agreement, and one of the more significant headwinds preventing the price from strengthening has eased

[bountyhunter] 08/3/2019 19:59

looking forward to those with one onboard already :)

[lord gnome] 08/3/2019 18:09

Welcome aboard HD. This has been banging its head against 120 for some time now. It will break through sooner or later. In the meantime, enjoy the quarterly dividends.

[hiddendepths] 08/3/2019 09:19

Well, that seems to have broken the ennui! Thanks to LG for this one. Picked up 10k for the pension at 110. Maybe I should have spoken to him yesterday!

[bountyhunter] 08/3/2019 07:34

"We now have formal, multi-year agreements covering virtually all of the wells we operate, which provides us with clear asset retirement parameters within which we can budget comfortably from the stable operating cash flows we generate from approximately 70,000 barrels of daily oil equivalency production."

[nimbo1] 08/3/2019 07:30

Fingers crossed then :)

[lab305] 08/3/2019 07:28

With this announcement and last week's results this share should be around £1.30-40. I believe once again that yesterday's price will look very cheap indeed.

[cfro] 08/3/2019 07:27

DGOC - Agreement with Pennsylvania State. (We knew this was coming at it was flagged in the results). Always good to be on the right side of State environmental laws. That means they have agreements now with all four States from which they operate.

[alotto] 08/3/2019 07:20

It's not the first time I see this sort of news for dgoc. It simply means that they will plug the wells at the end of their productive period. Simple and square

[podgyted] 08/3/2019 07:18

Pretty damn sure they'll only plug 20 wells a year.

[podgyted] 08/3/2019 07:16

One hopes so! Don't know what else there is.