I shared your cheesed-off-ed-ness Meta and I'm over it.
I think we are almost at a bottom, based on my assumptions and rational that:
+ IGAS and DTE sp movements would have a close correlation regardless of merger based on UK position of each;
+ DTE had resistance / support / bargain buying (up to) ~ 9/10c = ~ 70p;
+ oil and gas is in a seasonal low and will rise like it always does if the world holds together etc...;
+ the facts wrt coal gas safety, environmental benefits etc... are on our side; and
+ coal gas is in a better position to go in UK now than it has been previously.
For all it's potential DTE never really produced anything. At least IGAS is producing. There are several worries about IGAS still: greens et al.; commercial viability of extraction; etc... One early assumption I made was that the guys at the top of IGAS were good operators and had skin in the game. It is hard to get past what directors want you to see. Is there anything published or on the net on the directors that confirms that they are in the class of FMG entrepreneurs rather ABS entrepreneurs? Are they IGAS one hit wonders? I met people who had lost a LOT of money in DTE and other coal gas plays that DTE had acquired. There were a few like me who are ahead but we may all end up the same way still. Before DTE delisted, my goals were to shuffle shares into one account so that I didn't have to open multiple trading accounts overseas and to reduce overall exposure. I didn't achieve either goal and am sitting in limbo atm like other ex DTE shareholders.
DTE Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
