Updates

Diversified Gas & Oil

January 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Diversified continues to deliver strong results despite a challenging commodity price environment with Q3 production ended September averaging 91,00 barrels oil equivalent per day (boepd), a 10% increase on Q2 and 67% rise over Q3 ’18.The company exited the quarter hitting a new record of 94,400 boepd, boosted by a first contribution from the 12 wells acquired from EdgeMarc Energy for a net US$38m. Production has also been boosted by Diversified’s Smarter Well Management (SWM) program to stimulate increased production from older legacy wells, which offset an expected 7% production decline. It will also extract US$8.9m cost savings, which could increase to between US$11.9m-US$13.9m in FY’20 with new projects includ ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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