Investors' Room :: New Global Marine Energy - a rising star? - MoneyAM - Free Share Prices, Stock Quotes, Charts, News, Level2

The Owl - 19 Nov 2005 18:29

THREAD NOW CLOSED 3 May 2007

LATEST NEWS...(Check RNS service for details)

10/4/2007 - GME removes its minority interest in Patriot so shareholders enjoy 100% of all growth at Patriot
20/3/2007 - GME announces it will no longer support as NIM as non-core but instead focus on Patriot's US$123 order book
4/1/2007 - Cantor Fitgerald report 6.90% Holding
Decemebr - $31m orders reported
w/b 27/11 - Cantor buy >3%, Further order of $11m for rig packages
w/e 24/11 - Orders of $20m announced, but not profitable as expected
w/e 13/10 - Further $8m orders
w/e 27/09 - Further additions by Schroders to 12%
w/e 22/9 - Further orders of c $18m plus Gartmore stake increases to 20%.

Global Marine Energy plc is an Oil services company primarily bringing together and delivering rig component/equipment packages to international markets. GME is the holding company for two subsidiaries, Patriot Mechanical Handling and NIM engineering. Patriot provides the bulk of GME's sales.

GME is a niche player, there being only 1 or 2 alternatives for packaged equipment.
Patriot is a member of Source One drilling - a marketing alliance created by Le Tourneau Ellis Williams (LEWCO). www.source1drilling.com

Thread re-opened post results. Feel free to post away. News summary under picture.

Disclaimer: As always, Do Your Own research as no comments or foward looking statements posted here can be guaranteed.

This is an AIM listed company so high risk - only for investments you & your family can afford and are prepared to loose.

***Latest*** (also see estimated Share position analysis below @ 20 April 2006)
19 Sept - $9m from Brazil & America
14 Aug - GME announces $9m of orders including $1.2m NIM orders for Baker marine
These funded in part from recent raised capital.
11 Aug - GME delivers 11.2m stg (2005 4.76m). NIM issues notified in July addressed.
June - Cobra Ltd take large stake, a few previous buyers add
June - Placings at 15p
25 May - Paul Findlay promoted to Group CEO. S Wild (NIM subsid) off board.
10 May - PMHH signs up to http://www.source1drilling.com alliance
8 May - PMHH huge $8.6M china order+announces multiple chinese deals
5 May - PMH signs exclusive deal with winch company EMCE/Stokvis
4 May - Shroders increase to 11.16%
19 Apr - Shroders buy 10.10% 4,525,000
4 Apr - Gartmore adds stock now 17%, CAML buys 3.52%

The Owl - 19 Nov 2005 20:40 - 2 of 418

*** New Thread ***
Comments gratefully received.

Andy - 19 Nov 2005 22:02 - 3 of 418

Can we have a chart in the header please?

The Owl - 19 Nov 2005 22:29 - 4 of 418

Andy
There you go - ok?

queen1 - 19 Nov 2005 23:49 - 5 of 418

Great initial summary Owl, for those new to the company.

Andy - 20 Nov 2005 13:20 - 6 of 418

The owl,

Thanks.

moneyplus - 20 Nov 2005 16:45 - 7 of 418

Thanks Owl let's hope higher profile, new name the only way is up!!

chrissie - 21 Nov 2005 00:24 - 8 of 418

Owl

Absolutely fantastic - You are my hero!!!!!!!

The Owl - 21 Nov 2005 08:58 - 9 of 418

Cheers all.
PMH up 34% Friday on 15k volume.
Sterling down - estimates down to 1.60 by spring.
If so, recent $3.6m PMH orders (announced at /$ 1.90) may be worth 360k more @1.60! when consolidated into GME by Mch 06.

canary9 - 21 Nov 2005 09:09 - 10 of 418

Global Marine Energy PLC
21 November 2005

Global Marine Energy plc
(formerly MOS International plc)

PMH wins US$600,000 Brazilian Order

Global Marine Energy plc, ('GME'), the oilfield services business, announces
that its US-based subsidiary, Patriot Mechanical Handling Inc, ('PMH') has been
awarded a contract to supply a Test Stump Deployment System, Guideline Winches
and a Fingerboard to Star International, for delivery to Queiroz Galvao
Perfuracoes S.A. ('QGP'). The equipment is to be installed on the upgraded QGP
Offshore Semi-submersibles Atlantic Star and Alaskan Star.

The value of the order is in excess of US$600,000 with delivery scheduled over
two months during the 1st quarter of 2006.

Paul Findlay, President and CEO of PMH, commented:

'We are confident of continuing to secure orders from Brazil and throughout
Latin America, so have therefore increased our presence in the region with the
appointment of a regional manager, Mr. Robert Shinfield, who will head up our
operations in South America. His first task has been to open a regional office
in Macae, Brazil, which is nearing completion.

'The appointment shows our commitment to developing a significant presence in a
growth market.'

Philip Wood, Chairman, Global Marine Energy stated:

'The success we are achieving in South America following the Board's decision to
expand MOS's sales offices into new territories, previously served from the UK,
will hopefully be replicated in the other regions. As a result of increasing the
number of personnel on the ground, we now are seeing a steady increase in
business from these areas.'

The Owl - 21 Nov 2005 09:11 - 11 of 418

There ya go - good things already...lots more to come.
As a bonus, order will get into 2006 accounts.

New staff in Brazil, so must be confident.
Perhaps he could hunt down an IDC jv type project?

The Owl - 21 Nov 2005 11:32 - 12 of 418

We're in the top 15 risers despite people generally unable to buy online today!!

The Owl - 21 Nov 2005 12:30 - 13 of 418

3 things needed to get above 1p (IMO) by Christmas:

1. Financing secured
2. Interim results PROOF t/over clearly on track for "...in excess of 10M...", plus what it is now (actual since Mch05), and likelihood of profit in 06.
3. LGB reinstated & funds proved available to reignite IDC jv potential.

After these, further orders a bonus...

The Owl - 21 Nov 2005 19:32 - 14 of 418

Would be good to see a little pre-Christmas rise like we saw in September

The Owl - 22 Nov 2005 12:22 - 15 of 418

Next GME accounts are to 31/10 (Not 30/9) so probably see them end Jan (as of yesterday had not set a date).

Great news as will then have 7months t/over+profit!! to report, plus projections to end Apr 06.

The Owl - 22 Nov 2005 16:43 - 16 of 418

One day the market will wake up to GME & PMH!! (see below)

Note bit about meeting expectations AFTER order has been delivered, and programme features companies with "limitless potential" shown to 69 Million viewers in January 2006.

http://www.otcbb.com/asp/quote_module.asp?qm_symbol=PMHH&symbol=PMHH

partridge - 24 Nov 2005 09:13 - 17 of 418

It's all about cash and IMO now might be the time to do some "bottom fishing"

Spectrum7 - 24 Nov 2005 09:35 - 18 of 418

Whoops !!

The Owl - 24 Nov 2005 09:45 - 19 of 418

Agree Partridge - just 'bottom fished' 550k @ 0.22.

A few facts on this dire day:

1)The placing was heavily oversubscribed but institutions were playing hardball hence the ridiculous price.

2) Major well known institutions have taken part in the placing - note not just one, not just MD barnard. You'll see details of these in next few days. It means they must know they'll be able to sell in the future.

3) Though PW is now cost averaged at 0.25p or so - assuming loan conversion is approved (annoyingly substantially below most of us!), he could still have kept loan in place. Clearly he see's above 0.28p within a year or will loose 1/2M!

4) The meeting will be before Jan 1st

5) PMH/GME split was 50/50 at results - it's changed substantially in Patriot's favour BUT NIM are still winning lots of work. Read in that what you will.

6) The additional funding sources (i.e beyond LGB) are to be available should LGB not come back (there are 2 other offers). This is important because it means there was substance to the IDC RNS after all, and could be news.

Crumbs of comfort I know...but it will be a different story in a few months time - maybe even as soon as the interims.

ps I wanted 2M, but couldn't get 3,500 through on my card for some reason!

nkirkup - 24 Nov 2005 10:39 - 20 of 418

Buyers falling over themselves, looking good

mcmahons - 24 Nov 2005 10:49 - 21 of 418

LONDON (AFX) - Global Marine Energy PLC, formerly MOS International PLC, is raising 4.75 mln stg in a placing of 2.795 mln new shares at 0.17p each.

The oilfield services company is also converting chairman Philip Wood's 300,000 stg loan, plus accrued interest, into 177,268,332 new shares at the placing price of 0.17p per share.

The capital raised will provide additional funds to help service existing contracts, meet certain existing liabilities and placing expenses and provide working capital, Global Marine said.

The Owl - 24 Nov 2005 10:49 - 22 of 418

Nk -looks fantastic.
Wish I had cleared funds to take part. Managed only 550k at 0.22. Wanted 1-2M.

IN LAST HALF HOUR (AND IN SEQUENCE) THIS HAS HAPPENED

5.9M B trade (10:41am)
5M T trade (10:25am)
7.5M X trade
8M B trade
5M x trade
8M x trade
30M B trade
2M T trade (10:18am)

This is not a joke. 4/5 MM's blue, price rising (what a surprise!).
Just wish I could take part, but no cleared funds and don't use CC for AIM stocks

The Owl - 24 Nov 2005 16:01 - 23 of 418

0.04 down. Not too bad.

The Owl - 25 Nov 2005 13:43 - 24 of 418

Bin a very quiet BB these last few days must be getting near Christmas!

moneyplus - 25 Nov 2005 15:27 - 25 of 418

getting a bit bored with lack of rising/movement--change of name but no reaction!!

stockdog - 25 Nov 2005 18:10 - 26 of 418

Well there won't be any funds forthcoming from LGB for the foreseeable future - seems like the enormous cash deposits claimed to be in Amsterdam were fraudulent figments of some nefarious imaginations. Hope P Wood is not implicated in that debacle by virtue od his being a director of the company (I think, isn't he?).

Since he accompanied his good friend Stuart Pearson to Brazil to "ascertain" that the cash deposits were real, does he any longer remain a reliable chap in the eyes of fellow posters?

sd

The Owl - 26 Nov 2005 08:38 - 27 of 418

At last - some good News for Monday.
I guess Mr Padley's been too busy on LGB to release this here.

November 25, 2005 - 1:05 PM EST
Patriot Mechanical Handling Receives New Equipment Orders Valued at $1.48 Million USD for Delivery to Brazilian and Singapore Based Oilfield Contractors
Demand for Oil Services Equipment Expected to Continue to Be Strong Throughout South America and Asia
Patriot Mechanical Handling Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and services to the oil and gas industry, announced today that it has been awarded two new contracts valued at $1.48 million USD.

Paul Findlay, CEO of Patriot stated, "We are confident of continuing to secure orders from Brazil and throughout Latin America, so have therefore increased our presence in the region with the appointment of a regional manager, Mr. Robert Shinfield, who will head up our operations in South America. His initial task was to open a regional office in Macae, Brazil, which is nearing completion." He added, "The Singapore order is our first for the company since registering the company in that country. We expect to continue securing orders from Singapore and throughout Asia and have therefore appointed a regional manager, Mr. Craig Clarke, to head up our operations in Asia. "This order strengthens an already solid relationship with one of the largest rig builders in the World. We predict a strong order flow from this region overall."

The order from Brazilian drilling contractor Star International will be delivered to Queiroz Galvao Perfuracoes S.A. The order calls for Patriot to supply a Test Stump Deployment System, Guideline Winches and a Fingerboard, which is to be installed on the upgrade projects to the QGP Offshore Semi-submersibles, Atlantic Star and Alaskan Star. Delivery of the order is scheduled over two months during the 1st quarter of 2006.

The order from Keppel Fels Ltd., Singapore, calls for the Singapore regional office, 'Patriot Mechanical Handling Pte,' to supply three BOP Handling Systems. The systems are to be installed on the new build projects B269, B277 & B285 Awlico Drilling and SeaDrill Jack Ups.

"Our commitment to adding new offices in geographically strategic areas throughout the world demonstrates our commitment to building Patriot into a global company, operating in the markets critical to creating and maintaining growth."

About Patriot Mechanical Handling

Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose.

More information is available by contacting investor relations at: Capital Group Communications Inc Devin J. Bosch, President, (415) 843-0200 office. Information is available on the web at: http://www.patriotmh.com.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

Source: Market Wire (November 25, 2005 - 1:05 PM EST)

News by QuoteMedia
www.quotemedia.com

katcenka - 28 Nov 2005 08:56 - 28 of 418

not much buying thou

The Owl - 28 Nov 2005 09:11 - 29 of 418

Kat,

we should hear which institutions bought in the heavily oversubscribed placing this week.

There is one particularly large stake taken, I hear. Also last week, several institutions were buying in the market when prices dipped. PI's have capitulated after recent drop so up to institutions now...but orders are coming, and interims should show sales of >3M this half year. (That's significant because if we can get 6M by full year, even if last years excessive costs were tol be repeated, we should be profitable for first time in 6 years).

The Owl - 28 Nov 2005 12:53 - 30 of 418

*** New +$800k order

The Owl - 28 Nov 2005 18:31 - 31 of 418

roll up, roll up. 16% higher today on good volume.
I guess we're packing up for Christmas.

moneyplus - 28 Nov 2005 18:34 - 32 of 418

I added a few today-hoping the wake up continues!

The Owl - 28 Nov 2005 21:37 - 33 of 418

Only 3 trades, but GME's 82% of PMH's gone up 11.8% today!

The Owl - 29 Nov 2005 19:06 - 34 of 418

Don't forget - you're entitled to your GME circular letter 30 Nov!

The Owl - 30 Nov 2005 12:32 - 35 of 418

You'll like this - note reference to Keppel

------

Singapore's O&M May Still See Growth in Coming Years - JP Morgan
Xinhua Financial News Tuesday, November 29, 2005

JP Morgan said Singapore's offshore and marine sector has not yet peaked contrary to what most investors believe after selected oil-related stocks surged in the first half amid rising oil prices.

In a client note, the brokerage firm said the sector may see further growth over he next three years and gave overweight recommendations to Keppel Corp and SembCorp Marine.

"We believe a confluence of the following factors will likely point to a
stronger offshore market in the next three to five years, and that the offshore sector is currently in the early stages of an upturn," JP Morgan said.

"US drillers currently only have 10 rigs on order now and only one of them is an ultradeepwater semi-submersible. With the increased global backlog in both jack-up and semi-submersible availability, especially in the US Gulf, it would seem only logical that we see US drillers placing more orders to meet this clear and sustained demand amid strong day rates and shortening payback periods."

JP Morgan said Keppel Corp is poised to take advantage of this demand and gave the stock an overweight call.

"The offshore oil and gas market continues to look more robust with rig building interest now extending quickly to deeper water structures like semi-submersibles, despite expectations of weaker oil prices," it said.

"With an already proven proprietary design, KepCorps O&M is in a position to take advantage of this emerging demand. Its strong order book visibility also means that KepCorp can now be more selective by focusing mainly on proven design with a reliable track record where risk exposure is significantly lower."

JP Morgan also gave the same rating to SembCorp Marine and set a target price of 2.84.

"However, this target price has not factored in the potential margin expansion or the possibility of the company clinching more semi-submersible orders. Along with assuming that SembCorp Marine can deliver up to seven jack-ups in 2009 from six in 2008 and four in 2007, we have only factored in another two semi-subs over the next five years, although the company has already secured three semi-subs this year alone," it said.

The Owl - 30 Nov 2005 12:34 - 36 of 418

This is good too...
----
North Sea Renaissance Pushes Oil & Gas Spend to Gbp 11bn This Year
by Frank Urquhart The Scotsman Tuesday, November 29, 2005

A major revival in the fortunes of the North Sea oil and gas industry, fuelled by record prices, has resulted in the industry's total spend soaring to a near-record GBP 11 billion this year, it was revealed yesterday.

And an estimated 25,000 additional jobs across Britain - 60 per cent in Scotland - have been created in the last 11 months as a direct result of a new wave of optimism sweeping the industry,
according to a report by the UK Offshore Operators' Association.

Michael Tholen, UKOOA's economics and commercial director, told a press conference in Aberdeen yesterday that a survey had shown that UKOOA companies had revised their capital expenditure for the year from GBP 3.8bn to GBP 4.5bn - the highest level of investment since 1998. Total spend by the industry is likely to reach GBP 11bn by the end of the year.

The increased level of expenditure, he said, had seen the total workforce in the industry increase from 250,000 to an estimated 275,000, with 5,000 new jobs being created as a result of a major increase in drilling activity, with 82 exploration and appraisal wells being drilled in the British sector of the UK Continental Shelf, compared with less than 45 in 2002.

"This year, for the first time in four years, we have seen the number of development wells increasing. We expect to see 230 wells drilled by the end of this year - up from 160 in 2004," he said. "Companies are accelerating existing opportunities and seeking to develop projects which, two or three years ago, just wouldn't have been attractive. There is very much a future for the North Sea for us all."

Malcolm Webb, UKOOA's chief executive, welcomed the findings. He said: "This year's upswing in exploration and development promises a healthier outlook than we have seen for many years and brings with it expectations of securing a rich source of primary energy supply, jobs and revenues for many years to come."

But he warned that a stable fiscal regime was vital to the continued success of the North Sea. Webb said: "It is critical that we maintain the attractiveness of the UKCS. The shock of a punitive change to the North Sea fiscal regime will not only destroy the current investment climate but will irreparably damage the massive contribution that this industry can continue to make for generations to come."

The Owl - 30 Nov 2005 14:29 - 37 of 418

One way conversation today!

Here's a tip I coincidentally received earlier. Not suggesting anyone buy on back of this, and not sure of original source. For info only - see bottom re Ursula!
You might recognise the company :)

+++++++++++++++++++++++++++++++++++++++++++++++
Investor Alert Newsletter - November issue Issue 2005 PMHH IS SET TO SOAR IN NEXT 3 DAYS!
+++++++++++++++++++++++++++++++++++++++++++++++

In this issue we are going to profile a stock that is very much
undervalued and has just started trading. Ground Floor opportunity for
everybody.

PMHH PMHH PMHH PMHH

Just announced $1.5M contract!!!

This small treasure is: PMHH (Patriot Mechanical Handling Inc.)

GroundBreaking NEWS: Patriot Mechanical Handling Contracts for $1.48 Million USD
in New Equipment Orders for Brazilian and Singapore Based Oilfield Contractors

The stock is trading at only 90 cents and we expect it will hit $2.5 in next 2 weeks

HUGE PR campaign expected this week so grab as much as you can up to $1.5

_________________________________
Stock Symbol: PMHH
Current Price: $0.92
We expect the price to go to $2 in next 2-3 days
We expect the price to go to $2.45 in next 2 weeks.
_________________________________

GroundBreaking NEWS: Patriot Mechanical Handling Contracts for $1.48 Million USD
in New Equipment Orders for Brazilian and Singapore Based Oilfield Contractors

===========================================================================?========================
About the company:

Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose.

===========================================================================?========================

_________________________________
Stock Symbol: PMHH
Current Price: $0.92
We expect the price to go to $2 in next 2-3 days
We expect the price to go to $2.45 in next 2 weeks.
_________________________________

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The Owl - 30 Nov 2005 16:05 - 38 of 418

Chrissie - you still around?
We're missing your comment & opitimism.
ps don't go the LGB competitor thread - relentless posting & very addictive!

The Owl - 30 Nov 2005 16:05 - 39 of 418

dumpty, dumpty dum...up we go.

The Owl - 30 Nov 2005 18:52 - 40 of 418

Someone likes PMH!
20x normal vol & 141 trades (usually 3). Up 13%.

john50 - 30 Nov 2005 19:01 - 41 of 418

Hi Owl, where was the last rig picture taken was it the Cromarty firth

The Owl - 30 Nov 2005 19:14 - 42 of 418

john50.
Not sure It's a copy of a pic from Pride International's website.

The Owl - 01 Dec 2005 09:30 - 43 of 418

Well it's official. Check today's RNS's
1/100 consolidation from Jan20th

moneyplus - 01 Dec 2005 11:37 - 44 of 418

is this good news do you think? any share I've held which has done this always falls afterwards.

queen1 - 01 Dec 2005 11:59 - 45 of 418

Well it can't do much worse than it has over the previous 6 months.

moneyplus - 01 Dec 2005 12:20 - 46 of 418

That's true-the announcement is very encouraging maybe next year it will all come together and our patience will be rewarded!

sjtee - 01 Dec 2005 12:49 - 47 of 418

The share needs to be out of the less than a penny range to be taken seriously. This should do it. I would like to see a better news flow from the company other than we are obtaining working capital which has been their message for the last six months, then it might progress. Anyway Chrissie should be right that it will be 1p not sure its worth a party yet though!!

The Owl - 01 Dec 2005 15:01 - 48 of 418

I think consolidation is a good thing:

The no. of shares after consolidation will be 44M @ consol. price (27p I think)
So if a typical trade were 20k@27p, that's 5,400 (not too onerous for institutions, and new investors)

We'd need 2,200 trades of 20k to eat up the share capital leaving a nil float.
I.e. 183 trades a month, 9 trades a day.

Question: With a good tail wind, is this a valid scenaro?

The Owl - 01 Dec 2005 23:36 - 49 of 418

We have a new website:
www.gmeplc.com.

chrissie - 02 Dec 2005 02:57 - 50 of 418

Very relieved to see the new website up and running and it looks pretty decent too.

Just got back from hols and sorry to see the sp where it is. However I am in this for the long term (have no choice anyway) Let's face it, it could still be a great recovery stock. Will definitely be in this another 18 months at least.

I see that interim results (Sept30th) will be published on day of EGM 28thDecember. Am I right in thinking that the company is expecting to show a profit by year end March 06. If that is still the case then PW should confirm this in hs interim statement.

If GME keep winning orders as I believe they will then the sp will rise. What we really need is one big gigantic order to get our teeth into, then the placing, at a dismal price, may have been worthwhile.

Doing a great job Owl! See you at the 2 party!!! :-)

The Owl - 02 Dec 2005 09:14 - 51 of 418

Cheers Chrissie & Welcome back. We've missed you. No doubt you've seen the LGB story. It's an epic.

Don't worry about GME! Profit is touch & go for 06. I'd be surprised if they do it, but might just. However, we have 1m investment by chairman, some 6-8M funds available now (so also can easily get overdraft), an oversubscribed placing so institutions on board, a new website, PMH orders coming through, Paul Findlay's going on national television to 69M viewers (www.quotemedia.com), a 1/100 consolidation from Jan 5th, and a new website.

There are lots of orders. Email me- I'll send you something!

chrissie - 03 Dec 2005 02:41 - 52 of 418

Owl

Agree, we should now get behind PW. Onwards and upwards!

I don't have your email address ....here's mine w8ing4blue@yahoo.co.uk

bosley - 04 Dec 2005 10:39 - 53 of 418

owl, still watching, waiting to see how the new story developes. do you think the scandal surrounding lgb and pw's invovlement is adversely or will adversely affect gme?

The Owl - 05 Dec 2005 10:14 - 54 of 418

Findlay & Wild are directors generating the contacts sales etc. There are 3 other directors, and a no. of Non-Execs - all with good industry experience.

Wood has completed the restructure work+assisted sales.

If PW had to leave, the others could manage albeit they'd probably need a driving force IMO.

The Owl - 07 Dec 2005 15:21 - 55 of 418

Global Marine Energy PLC
07 December 2005

7 December 2005

Global Marine Energy plc ('the Company')

Notifiable Interest

The Company announces that it received notification on 6 December 2005 that on 1
December 2005 The Goldman Sachs Group, Inc. ('GS Inc'), including its direct and
indirect subsidiaries, had an interest, by attribution only, in 118,500,000
ordinary shares of 0.025p each in the Company, representing 4.01% of the issued
share capital of the Company. The shares will be registered in the name of
Goldman Sachs Securities (Nominees) Limited.

This represents the entire holding of The Goldman Sachs Group, Inc. in the
issued share capital of the Company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Derrick Lee, Noble & Company Limited 0131 225 9677

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS
The company news service from the London Stock Exchange

katcenka - 07 Dec 2005 15:32 - 56 of 418

interesting owl, but it didnt lift the price up

katcenka - 07 Dec 2005 15:43 - 57 of 418

ok standard corrected, its on the up

katcenka - 07 Dec 2005 15:49 - 58 of 418

MM just bought 500k... could be a winner

Diablo666 - 07 Dec 2005 16:28 - 59 of 418

Looks very interesting... Certainly won't be shorted... lol

666

katcenka - 07 Dec 2005 16:33 - 60 of 418

hope they go to a pound, if they dont, I will blame the owner of this thread ;-)

The Owl - 07 Dec 2005 17:47 - 61 of 418

Director 1m
UBS
Gartmore
Goldmans
Only 4M free float post consolidation

GME have done everything we asked for except show a profit.

The Owl - 08 Dec 2005 10:49 - 62 of 418

Now 7 MM's on GME. Welcome JEFF.
Quite a party!

sjtee - 08 Dec 2005 10:59 - 63 of 418

Agree all looks positive just need positive comments on income. Started to tick up slowly though

katcenka - 11 Dec 2005 21:43 - 64 of 418

getting ready for blast off... lets hope before 25/12

katcenka - 12 Dec 2005 23:00 - 65 of 418

4mil buy... institutions filling there boots... looking good

frogfund - 13 Dec 2005 15:05 - 66 of 418

so who thinks selling now and buy back at 0.17p would be better

katcenka - 13 Dec 2005 23:48 - 67 of 418

got to admit I sold today... looks like it is actually a pile of shit

Kivver - 14 Dec 2005 00:11 - 68 of 418

thats unusual for you kat to pick a loser and admit it, might be the start of a new beginning.

The Owl - 14 Dec 2005 07:38 - 69 of 418

Good luck K.

For the two investors who remain!, we have interims, consolidation (probably backed up with new orders), a projected profit for 2007 (see Hardman research - Times Online & possibly close to profit in 2006), Gartmore, UBS & Goldman clients on board, and of course PW's 1m.

Sure, of course it's still a big risk (AIM stocks are), but even if things were to go pear-shaped for GME, there are few AIM companies with those credentials, and few in a market with such huge demand. For these reasons, I'm not expecting to start unloading till at least April of next year.

moneyplus - 14 Dec 2005 13:56 - 70 of 418

I'm still in- waiting patiently!

The Owl - 14 Dec 2005 14:12 - 71 of 418

MP - 3 of us then ;)

canary9 - 14 Dec 2005 14:25 - 72 of 418

I am also still in these on the basis that they should have sufficient cash now to grow the business, but patience will be needed. The SP upside is restricted by the massive dilution caused by the recent placing at .17p. Sellers will be out on any strength in the share price imo, and the SP could still drift towards the placing price, as those that took part in the placing for a quick profit sell and move on.

The Owl - 14 Dec 2005 15:22 - 73 of 418

C9. Could do however see 9/12/05 Corp synergy. Couple of big orders & could be very different. If GME get a pre-paid or govt work might transform GME. Still can't get over Wood's large investment end Sept. Why not wait till Jan 1 like last year?

http://timesonline.hemscott.com/servlet/HsPublic?context=timesonline&path=be&service=getForecasts&type=brokerforecast&cid=4278

2 skools of thought - which will it be?

cellby - 14 Dec 2005 20:27 - 74 of 418

im still in bought .8 down to .25 haVe managed to turn 10k into 3k ,seem to haVe a talant for that ,be a Very pleased holder if we get any recoVery.

The Owl - 14 Dec 2005 20:55 - 75 of 418

Be very surprised if we don't see a recovery after consolidation. 2003 saw 0.25p-1.40 in less than 4 months!! AIM stocks though do normally take 2-5 years to come good, so my horizon's Sept 2007 despite currently nursing much heavier losses.

Post consolidation, with institutions buying and cash in bank, GME are much better placed IMO. If Patriot can turn $4.15m in last 60 days, what might they have done before that? Whether this lifts shares of course remains to be seen, but with staff options expiring in Sept 2007, there's lots of incentives IMO.

stockdog - 14 Dec 2005 23:02 - 76 of 418

Hence the expression, "past its Cellby date"! lol

sd

The Owl - 19 Dec 2005 14:19 - 77 of 418

Not unexpected.

Global Marine Energy PLC
19 December 2005

Global Marine Energy plc

IDC joint-venture

The Boards of Global Marine Energy plc, ('GME') and Langbar International
Limited announce that they have decided not to proceed with the proposed
joint-venture vehicle, International Drilling Corporation ('IDC').

The Companies announced on 22nd June 2005 that Heads of Agreement had been
signed.

Mr Wood has resigned from the Board of Langbar International Limited, with
effect from 19th December 2005.

19th December 2005

ENQUIRIES:

Global Marine Energy plc Tel: 01274 531 862

Philip Wood, Chairman

Noble & Company Limited Tel: 0131 225 9677

Adam Westcott

Bankside Consultants Tel: 0207 367 8888

Michael Padley/Susan Scott

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 19 Dec 2005 17:25 - 78 of 418

View this as good IMO.

1) More focus on GME not LGB - gets rid of 'the noise'
2) Less time chasing big (too ambitious IMO) rig build contracts. GME's not there yet. Would rather they get more $1-2m work with CNOOC, Kepel, Baker etc.
3) T/over comes quicker from smaller deals - rig would take 3-4 years plus take up lots of staff, and probably cause loads of design issues whereas recent $600m Star Int. deal could give revenue in 2 months.
4) Fewer worries about cash raised recently being put into overly large projects & then needing yet more listings!

When GME gets profits of 30M plus, then may be the time for more ambitious stuff. Can always partner others in a 3 way jv if another competitor (say) needed staff/technical input.

All IMO

The Owl - 19 Dec 2005 23:06 - 79 of 418

December 19, 2005 - 4:05 PM EST
Patriot Mechanical Handling Receives $3.28 Million Order From China-Based Dalian New Shipbuilding
Company Signs Memorandum of Understanding for Future Orders With Dalian and Expects Significant Growth in China Operations
Patriot Mechanical Handling Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has received an order from Dalian New Shipbuilding, based in Dalian, China. This is an expansion of an existing relationship with Dalian, which the company expects to continue to grow.

"This is a huge boost of confidence from an important customer in a very large, growing market," stated Paul Findlay, CEO of Patriot. "We expect to continue receiving orders from local and International customers doing business in China." He added, "This region is home to the fastest growing economies in the world. Patriot has now established itself as a player in Asia and we will continue to expand our network and dedicate resources to support growth."

The Dalian order calls for Patriot to deliver 4 CTUs (Conductor Tensioning Systems) on the new builds being purchased by Noble drilling, Seatankers, and COSL respectively. The order is valued at $3,286,000. Additional options are being considered by Dalian, which would increase the order amount accordingly. Patriot also obtained a Memorandum of Understanding (MOU) to supply Dalian with additional Subsea handling equipment over the next 12 months as needed.

About Patriot Mechanical Handling

Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customers' satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose. More information is available by contacting the company directly. Information is available on the web at: http://www.patriotmh.com.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

Source: Market Wire (December 19, 2005 - 4:05 PM EST)

News by QuoteMedia
www.quotemedia.com

The Owl - 20 Dec 2005 12:58 - 80 of 418

Looking much better ...

katcenka - 20 Dec 2005 23:58 - 81 of 418

looking crap you mean

The Owl - 21 Dec 2005 08:30 - 82 of 418

K,
Yep - until 28th Dec. Be on launch pad by Jan 7th 2006.

pookieb - 21 Dec 2005 10:21 - 83 of 418

A little bit of profit on the 28th and things will be looking good

The Owl - 21 Dec 2005 11:54 - 84 of 418

Pook

If GME can hit 3m for half year, should translate into 6m full year - a 30% sales improvement on 2005. If costs also up by 30%, cost of sales would be bout 4m Leaving gross profit of 2m. Take off operating expenses equivalent to last year of 3.6m would give 1.6m loss. However, if this is out by just 25% on the 6m sales, 4m cost of sales, or operating costs figure, we'd be just short of profit - ala Corp Synergy forecast.

IMO Very much depends how they work the figures, but if one was UBS, Gartmore, Goldman or PW one wouldn't buy GME if presented on the above prospect! - whatever outlook seems after a further 1.5 years, would one? - hence think it may be bit better. 3m would be ok though.

Re cash position, on 31 Dec 1998, MOI reported 9.5M sales, gross profit 2.1M, net prof 0.5M. Their cash at bank was 3M then. Next results ( 31 Mar 2000) jumped to ~22M sales, ~7m gross, 1.4M net profit with cash down to 833k - so shows what can be done in right climate & this time GME seem to have raised some 5.2m - not all available for investment though.

The Owl - 21 Dec 2005 13:59 - 85 of 418

Me done for 2005.Final 730k long term for SIPP.

The Owl - 22 Dec 2005 14:25 - 86 of 418

Happy Christmas all - Back 2006

chrissie - 27 Dec 2005 18:27 - 87 of 418

Hope everyone had a good Christmas. It's the EGM tomorrow isn't it? Good luck to us all! Wouldn't it be lovely if we got loads of good news, anyone going?

The Owl - 28 Dec 2005 10:21 - 88 of 418

Hi Chrissie et al. Morning & Happy Christmas.
Can't attend AGM as due to relatives, but it will be a formality anyway.

Am happy with interims.

Expected 2-3m t/over (would have given 30% lift on last year) - we got >4m - same as for full year.
Expected loss of 1m+, but only 500k. Means fye costs should be lot less than last year.
Gross profit full year 2005 was 1.42m. This has been exceeded at half-year (1.52m)

GME trading profitably since September- great.
Fully financed + new banking facilities with RBS - great also.

Having expected a loss for 2006 to turn into a profit in 2007, IMO now expect profit for fye 2006. Jury's still out on the sales targets, but would rather have less sales & more profit than great sales, and a loss. If they get the pace right, should be great news when full year arrives imo.

moneyplus - 28 Dec 2005 12:48 - 89 of 418

happy to hold and wait on these--a nice little acorn for 2006.

The Owl - 30 Dec 2005 08:39 - 90 of 418

Jan 6th/7th - not long to wait for a sensible share price.
Good weekend all, and happy new year!

stockdog - 30 Dec 2005 11:33 - 91 of 418

Beleated season's greetings, one and Owl!

Guessing TO of 6m at 37.5% gross margin, admin costs of 2m and interest of 50k, gives a H2 profit of 200k which reduced H1 losses by 40%, but does not quite hit breakeven for the full year.

2007 looks good for profits in both halves.

Any more accurate figures/estimates from you guys?

sd

The Owl - 30 Dec 2005 11:57 - 92 of 418

Stockdog
IMO we could see a bit more. We already have 4.15m in the bag. The PMH STAR Int deal must be delivered by year-end, so that adds 348k. Then there's anything they can deliver Oct - Mar. On your figures that would be 1.5M = 250k pm. The run rate averaged over 18 months on 'delivered' turnover is currently at 500k pm.

My own target is 8M - well short of Corp Synergy & Hardman targets of some 13m.
Also if what Wood said re '..now trading profitably...' is true, we could see a profit of 1.5M in 2006 (like you, I'd expected a 2006 small loss).

Also noticed there hasn't yet been an entry for sale of assets/cash from release of Midland's & Scottish facilities.

sjtee - 30 Dec 2005 13:23 - 93 of 418

There really is no excuse now with this statement. With a sensible price shortly perhaps it will be taken more seriously. Certainly should be IMHO.

The Owl - 30 Dec 2005 16:22 - 94 of 418

Well there goes 2005! Thanks to you all for your fun & serious contributions to GME.

Looking forward to 2006, GME seems to have a great future ahead. Few AIM companies have a director investing 1m, an order book of 11m, 3 top class banks with >3%, international markets & growing demand for their products, a management team in place for several years, at last a sensible stock price on consolidation, a new name and what's more they've said trading is now profitable since first half of 2005/06

Whatever the future holds for GME, the setup on this stock is about as good as it gets. Hopefully we've seen the bottom, and can at last look forward to seeing GME become a GEM.

Happy new Year.

chrissie - 30 Dec 2005 16:42 - 95 of 418

Happy New Year Owl!

All GME have to do is win a couple of 3mil plus contracts and we'll be up up and away. As you say they are now set fair to cope with those contracts and to have attracted the institutions they have and sorted out banking facilities with RBS they MUST be expecting to win such contracts. Otherwise why the need to have the working capital available.

I think 2006 will be a good year for us all. And who knows we may even end it off with a 2.00 party.....now that would be nice!!!!!

Happy New Year to all GME holders!

stockdog - 30 Dec 2005 18:41 - 96 of 418

Just to clarify, I meant TO of 6m for H2, making 10+m for the full year. I estimate we need 5.50m TO in H2 to break even in H2 alone and 6.85m TO in H2 to break even for full year to March 2006. Somewhere in the middle would be consistent with "the Company is now trading profitably", however short of saying that the company would break even or better for the full year. So I'm sticking with my 6m H2 TO as the correct order of magnitude - makes about 10m for the year (which I seem to remember being mentioned previously??) with a small loss for the full year of about 300k .

Taking the 11m order boook into account and a generally boyant mood (I detect), lets say we turn over 15m for 2007 at 37.5% gross margin and 5m overhead (assuming it grows 20% to cope with 50% increased sales) with zero interest charge (now we are in funds and trading profitably) - makes a profit before/after tax of 625k for 2007 = 0.0212p EPS and a PE of 12.

Wish I'd had a 300k loan to convert into common stock!

sd

blinger - 30 Dec 2005 21:13 - 97 of 418

LOL
We shall see, years of B.S. from this lot have made me a cynic, I recall talking to the CEO some 5 years back, telling me things were wonderful- well he would, well they all do, well they all will, hah, its our $$$ not theirs!!

g`luck

The Owl - 03 Jan 2006 13:35 - 98 of 418

Happy New Year all!

Fundamentals
8.76M 'delivered' sales in 18 months to 30 Sept 05. Run rate ~500k pm and now profitable. Order book of >11M (7m 1 year ago). Probably no more dilution.
c5m from placings+Cornell+RBS funds available. Balance sheet good. Chairman 1m invested, Big holdings in co. by UBS et al...and no one yet knows or cares about GME. Perfect setup.

treikiman - 04 Jan 2006 16:50 - 99 of 418

From Todays Evening Standard
GOOD on you, Philip Wood. You may have quit as a non-executive director of scandal-struck Lang bar International on 19 December when turnaround specialist David Buchler moved in (shortly after the Serious Fraud Office began probing the "missing" 365 million). But that didn't stop you, two days later, accepting 25 million share options in oil and gas services company Global Marine Energy, where you remain chairman and a major shareholder. This is the same Global Marine Energy that was forced to abandon its International Drilling Corporation rig-building division following the furore surrounding its joint venture partner: Langbar International. Since Langbar's shares were suspended in October, Global Marine's stock has collapsed from O.39p to O.25p. OK, the crash is mainly due to a discounted issue of new shares, but IDC'sfate hardly helped. In the light of the publicity surrounding Wood's resignation from Langbar the following month, would Global Marine havefound investors so ready
to part with 4. 7 million in November's share placing?

chrissie - 04 Jan 2006 20:02 - 100 of 418

Owl what do you think of the above artical and more importantly I wonder what Wood makes of it.

I still want to buy more shares but think I will wait until after consolidation.

The Owl - 04 Jan 2006 22:45 - 101 of 418

Chrissie - where have you been? Behaved yourself over the new year I hope ;)

IMO good news is Wood has done what was needed - restructured company, put it on fully financed footing+restored overdraft. I think he'll stay - certainly purchases, options etc mean he intends to. Visit to Brazil was (I think) to confirm the assets were there before going ahead with jv deal. It was a form of DD but not for Langbar.

If (worst case) he were to leave, Findlay, Wild, G.Nicholas & Fitzpatrick could easily carry on. They just need to complete 3m sales this year, 8m next. Most work comes from Patriot not NIM, and Wood has been doing the restructure work not sales - though of course alledged connections may have helped.

ps checked loan conversion with LSE. They are 'reasonably comfortable' with the arrangement! Amazing.

chrissie - 05 Jan 2006 00:18 - 102 of 418

Apparently, I behaved very well indeed!

I can't help thinking/wishing that something good is afoot at GME. Big institutions on board, banking facilities in place with RBS and PWs personal investment of 1mil. (This is what I keep repeating to myself when feeling upset about the sp and my average). But it's true isn't it? How can 2006 possibly be a bad year for GME with everything now in place and order books full etc.

I will buy more just after consolidation.

The Owl - 05 Jan 2006 10:17 - 103 of 418

Well, last day as a penny share.
Tomorrow s/be a sensible looking price for first time ever. Final piece of jigsaw that sees GME as a real company. Seem to be few sold-outs waiting to buy back.

So new dramatic pic in header for launch :)

The Owl - 05 Jan 2006 14:33 - 104 of 418

I'm told they'll be a video clip put on PMH & GME sites soon.

Released today On OTBB re rearranged programme.

Patriot Mechanical Handling to Be Featured on the 'Sunday On the Money' Show
Over 69 Million Viewers Receiving Super Station WGN Cable Channel Can View the Program Sunday January 8th at 9:30 AM EDT
Patriot Mechanical Handling Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that its CEO, Paul Findlay, will be a featured guest on the 'Sunday On the Money' show. The segment will air on Sunday, January 8th at 9:30 AM Eastern time on Super Station WGN cable channel. Check your local listings for the WGN channel in your area.

"The 'Sunday On the Money' show is an excellent opportunity for us to provide the investing public with an overview of Patriot and the market we address," stated Paul Findlay, CEO of Patriot. "We are excited about the growth we are experiencing and look forward to continuing to tell our story to new audiences."

chrissie - 06 Jan 2006 00:31 - 105 of 418

Sounds good to me! Big day today, consolidation has been hanging over us for weeks now. I expect we'll see a dip but soon after the dust has settled it will be a case of up up and away!!!!

The Owl - 06 Jan 2006 07:51 - 106 of 418

Up 10500%!! ;)
Excellent news - Their advisers have taken an enormous stake. Everyone who counts is getting aboard, and GME is still just a whisper.

Global Marine Energy PLC
06 January 2006

6 January 2006

Global Marine Energy plc ('the Company')

Notifiable Interest

The Company announces that it received notification on 5 January 2006
that Gartmore Investment Management plc ('Gartmore') acquired
332,500,000 ordinary shares of 0.025p in the Company as part of the
placing of ordinary shares admitted to AIM on 5 January 2006.
Following the acquisition Gartmore, through its business group and
legal entities, had an interest in 758,250,000 ordinary shares of
0.025p each in the Company, representing 17.08% of the issued share
capital of the Company. The Company had previously received notification on
2 December 2005 that Gartmore had a notifiable interest in 418,250,000 ordinary
shares, representing 14.17% of the issued share capital of the company.

The Company announces that it received notification on 5 January
2006 that following the placing of shares admitted to AIM on 5
January 2006 Noble VCT plc holds 200,000,000 ordinary shares of
0.025p in the Company, representing 4.51% of the issued share capital
of the Company.

The Company also announces that it received notification on 5 January
2006 that following the placing of shares admitted to AIM on 5
January 2006 UBS AG, acting through its business group and legal
entities, holds 275,855,876 ordinary shares of 0.025p in the Company,
representing 6.22% of the issued share capital of the Company. The
Company had received notification on 2 December 2005 that on 1
December 2005 UBS AG had a notifiable interest in 148,802,938
ordinary shares, representing 5.04% of the issued share capital of
the company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Adam Westcott, Noble & Company Limited 0131 225 9677

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 06 Jan 2006 16:15 - 107 of 418

Chrissiemail...

pma68 - 06 Jan 2006 20:33 - 108 of 418

Well, bugger me!
I held these shares from 0.90 down to 0.42 before finally bailing out. Oh well, c'est la vie!
Congratulations to The Owl and Chrissie for having the courage of their convictions and sticking with this share. Enjoy your profits and if you uncover any more little treasures like this please feel free to let me know, Mr. Owl.
Once again, congratulations to the both of you.

The Owl - 06 Jan 2006 21:01 - 109 of 418

pma68 - not quite as good as it looks - YET!
There's been a 100/1 consolidation, which is great as it takes us away from penny share status, but we have 100x less shares.

Fundamentally, looks very strong with all the buyers & Gartmore with 7.58M (17%), and I think something's coming next week.

blinger - 06 Jan 2006 21:01 - 110 of 418

erm profits?

100X reduction in numbers= 10000% - a real "increase " in share price of 9483% looks remarkably like a "real" decrease of -5%- in cash, call me old fashioned for the maths.

The Owl - 06 Jan 2006 21:06 - 111 of 418

Fewer shares, 4 big buyers, and trading profitably.
Bound to dip back to 17-19p level to check support from Goldman, UBS, Noble et al - consolidations always do. After dust settles - should bounce as 'trading profitably' if Wood's last RNS is to be believed. T/over 8.76M in last 18months (better than 2001-2004 combined) aint bad, and if they win no orders, still an 11.3M book to eat through.

The Owl - 06 Jan 2006 23:23 - 112 of 418

Patriot up 31%.

chrissie - 07 Jan 2006 02:56 - 113 of 418

pma68

Thanks for your kind words but as Owl said 100/1 consolidation, so no profits yet. However, if you want a little gem why not buy back in? Don't think you can lose from todays price ....as always do your own research.

squidd - 09 Jan 2006 13:57 - 114 of 418

JH: I forgot to mention yesterday that I've also added GME to my recovery watchlist and suggest you do likewise. It's early days, as I think it's still in downtrend but worth watching.
Please acknowledge this message.
sd.

The Owl - 09 Jan 2006 14:07 - 115 of 418

whispers' getting louder! ..lol

Also on (>3%) UBS, Gartmore, Goldman & adviser Noble watchlists at 17p ;-)

jameel06 - 09 Jan 2006 16:55 - 116 of 418

Owl, do you think its a bit too early to buyin - watchlist until it flattens out?

The Owl - 09 Jan 2006 17:14 - 117 of 418

Jameel06 - I don't know...depends also on your horizon.

Risk of not being in, is missing order RNS's, and reasons for institutional interest etc.
On the other hand, as you say it could drop to maybe 17-18p.

The Owl - 10 Jan 2006 07:12 - 118 of 418

Update -- "Sunday On the Money" Show
Patriot Mechanical Handling, Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and services to the oil and gas industry, reported today that the "Sunday On the Money" show, which was scheduled to air on Sunday, January 8, 2006, has been postponed. Due to unforeseen circumstances affecting the producer of the show, unrelated to Patriot, the show did not air at the scheduled time. It is anticipated that the show will air in its regularly scheduled time slot on January 15, 2006, however Patriot is awaiting written confirmation of the new air date prior to an announcement.

"We have been told by the show's executive producer that the program will air," stated Paul Findlay, CEO of Patriot. "We apologize to our shareholders and others who rose early on a Sunday morning to watch the program, which did not run as scheduled. We regret any inconvenience that this may have caused. Once we receive confirmation in writing from the producer, we will make another announcement regarding the scheduling." He added, "We are also working with the producer to provide a link to the web-ready version, which has already been encoded in Windows Media format, which could then be downloaded from our website."

The Owl - 10 Jan 2006 14:33 - 119 of 418

Global Marine Energy PLC
10 January 2006

Global Marine Energy plc

PMH issues year end update

Global Marine Energy plc, ('GME'), the oilfield services business, announces
that its US-based subsidiary, Patriot Mechanical Handling Inc, ('PMH') has
today issued a trading update, on the USA OTC market.

It stated that order intake since taking control of the UK and SE Asia assets of
GME on Sept. 19th has exceeded US$7.4 million.

Paul Findlay, President and CEO of PMH, stated:

'We are very pleased with the orders won and are confident that our order
pipeline will continue to grow. The repeat orders from China, Mexico and
Brazil represent votes of confidence in PMH's products and engineering.
We remain confident that we will meet our sales objectives for our fiscal year,
which ends in March 2006.'

10th January 2006
ENQUIRIES:

Global Marine Energy plc Tel: 01274 531 862
Philip Wood, Chairman

Noble & Company Limited Tel: 0131 225 9677
Adam Westcott

Bankside Consultants Tel: 0207 367 8888
Michael Padley/Susan Scott

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 10 Jan 2006 14:34 - 120 of 418

Announced 'delivered' run rate ~486k pm
Announced Sales run rate ~1.06m pm
(Patriot only.)

The Owl - 10 Jan 2006 16:58 - 121 of 418

Global Marine Energy PLC
10 January 2006

10 January 2006

Global Marine Energy plc ('the Company')

Notifiable Interest

The Company announces that it received notification on 10 January 2006 that on
6 January 2006 Invesco Perpetual AIM VCT plc ('AMVESCAP') had an interest
in 1,660,000 ordinary shares of 2.5p each in the Company, representing 3.74 per.
cent. of the issued share capital of the Company.

This represents the entire holding of AMVESCAP in the issued share capital of
the Company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Adam Westcott, Noble & Company Limited 0131 225 9677

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS
The company news service from the London Stock Exchange

chrissie - 11 Jan 2006 04:41 - 122 of 418

Here we go!

The Owl - 12 Jan 2006 09:36 - 123 of 418

Next week, see action Northwards.

chrissie - 13 Jan 2006 05:52 - 124 of 418

God I hope so Owl. I know this will rise eventually and have no worries about losing in the long term but I would dearly love sp to reach 1 before the end of 2006 which seems a big ask but I believe the company can and should achieve this. It's only January after all.

Guess this is drifting down because institutions got in so cheaply. We need some good publicityand a statement from PW confirming no more dilution will be necessary to raise further working capital.

The Owl - 13 Jan 2006 12:25 - 125 of 418

Small para in Investors Chronicle pg55:
GME 'speculative buy'.
Mentions Hardman 13m sales for 2006/loss 330k.
It's a start...

chrissie - 17 Jan 2006 10:41 - 126 of 418

Morning Owl

Have you been in touch with Bankside recently or spoken to PW ? Any news ?

The Owl - 17 Jan 2006 12:20 - 127 of 418

'bout 10mins ago :)

Think something's coming soon - presumably you saw the $7.4m in 4 months PMH orders RNS posted on OTCBB?

The Owl - 17 Jan 2006 21:04 - 128 of 418

Patriot Mechanical Handling Appoints Mr. Kirk J Baer to Position of Chief Financial Officer
Tuesday January 17, 9:51 am ET

HOUSTON, TX--(MARKET WIRE)--Jan 17, 2006 -- Patriot Mechanical Handling Inc. (Other OTC:PMHH.PK - News), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has appointed Mr. Kirk J Baer as the company's Chief Financial Officer. Baer's immediate responsibility is to prepare the company for an outside audit, in anticipation of retaining a firm to assist the company with meeting voluntary reporting requirements.
ADVERTISEMENT

Paul Findlay, CEO of Patriot, commented, "We are glad to have Kirk on board to assist with getting our financials organized and prepared for an outside auditing firm. Patriot intends to have its financials audited and to voluntarily report, so as to provide our shareholders, vendors and customers a high level of confidence in our company and its future growth."

chrissie - 18 Jan 2006 08:34 - 129 of 418

Thanks Owl,

I'll be away for the next couple of weeks, see you on my return. I think once we have a sustained move north in the sp then this will become a very lively informative thread thanks to you.

stockdog - 18 Jan 2006 11:31 - 130 of 418

Looks like a public audit of Patriot is to hellp its good news get past the GME barrier into the public domain - should help the SP.

Have a nice one Chrissie.

sd

sjtee - 19 Jan 2006 10:51 - 131 of 418

GME a glimmer of blue again, just like yesterday. Wonder if it will stay today?

The Owl - 19 Jan 2006 12:43 - 132 of 418

Next week should be interesting...

The Owl - 19 Jan 2006 14:21 - 133 of 418

Repeat order - great !

Global Marine Energy PLC
19 January 2006

Global Marine Energy plc

PMH wins $3.2 million China order

Global Marine Energy plc, ('GME'), the oilfield services business, announces
that its US-based subsidiary, Patriot Mechanical Handling Inc, ('PMH') has
received an order valued at US$3.2 million from China Oilfield Services Ltd.
(COSL).

The order is for 5 Marine Deck Cranes; four PC4500 50 ton units, and a PC3000
40 ton unit, spare parts, training and commissioning of the equipment. Training
will occur at the PMH facilities in Houston, with the cranes being delivered to
Xingang Seaport, China, upon completion. Delivery is scheduled for Q3 2006.

Paul Findlay, President and CEO of PMH, stated:

'We are pleased to have the opportunity to work with China Oilfield Services
again. COSL is a leading player in the Chinese market and this order speaks
volumes for PMH's ability to compete and successfully win business in this
region.'

Philip Wood, Executive Chairman, Global Marine Energy added:

'Late last year we announced two multi-million dollar orders from Dalian, which
increased our footprint in China, a country whose demand for fossil fuels will
continue to increase as its population becomes more affluent. This new order
from China Oilfield Services reinforces our strategy of targeting new markets
in growth territories.'

19th January 2006
ENQUIRIES:

Global Marine Energy plc Tel: 01274 531 862
Philip Wood, Chairman

Noble & Company Limited Tel: 0131 225 9677
Adam Westcott

Bankside Consultants Tel: 0207 367 8888
Michael Padley / Susan Scott

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 19 Jan 2006 16:54 - 134 of 418

There we go - bit late on OTCBB (at least same day)!
Nice couple of late 75,000 T's (=14M old money).

jameel06 - 19 Jan 2006 17:18 - 135 of 418

Owl, I might think of getting back into this boy, especially after it took a big tumble pre/post sahre consolidation

mbugger - 19 Jan 2006 17:47 - 136 of 418

Was there a100/1 consolidation recently,what are future prospects, any views.

The Owl - 19 Jan 2006 18:21 - 137 of 418

mbugger/jameel06 - you're in the right place & right time (unlike most of us!)

future prospects look very good now company is restructured & 5 big institutions bought in last month, plus new bank facilities by RBS.

For estimates of sales, earnings etc see Digitallook or TimesOnline for research. None of the research allows for jv type work as was announced last year, so this prospect is not built into the price. You'll know there is a huge lack of rigs. One deal along lines announced last year would transform the company.

Could give lots of figures, but best DYOR.

Still rated a speculative buy (see Investors Chronicle last week) until GME demonstrate they are profitable. However, the chairman said they were at the interims, so if can maintain that - great. I understand it's likely they'll break pattern of reporting end of year results as late as possible i.e in September, and possibly try to deliver early this year (results likely to be very good with 4.15m already bagged & 6 months still to report from end Sept).

Suggest don't buy too many though you'd be in at the bottom as share should be supported at recent placing price of 17p.

sjtee - 20 Jan 2006 11:01 - 138 of 418

Blimey another blue start!

The Owl - 20 Jan 2006 19:33 - 139 of 418

Fantastic week.
2 late trades of 260k & 200k (=40M old money).
At this rate the free float will soon vanish.

The Owl - 20 Jan 2006 22:05 - 140 of 418

Just read today's independent. Big Oil article.
Goldman Sachs says $2.4trillion is needed to be spent on oild investment projects in next 10 years - more than triple what was spent in the 90's !!
If not spent, backlog in capital expenditure means more energy crises.
GME have their work cut out.

The Owl - 21 Jan 2006 15:20 - 141 of 418

I've raised own target to 1.80 from 1.40 end (Dec) 2006.
Nothing there to hold back GME. None of reasearch includes transforming jv type work for which GME just need free yard space (have 2 cash offers+contract options).

They'll be no more dilutions as plenty of cash, instis pressure, chairman's holding, & option expiry 2007. Also cash flow from high margin 2004/2005 work finances new projects. If successful they could buy back shares.

'Dark secret' supplement (Independent Friday) re Goldmans 3x1990's (=$2.4T) Essential/Critical for this decade.

DEMAND & shortage of oil engineer staff remain - GME's t/over will expand continuously... with now +13.2M orders on books (Market cap of 11m, market value 9.5M excl PMH), they can deliver half this year, half next to show 11M sales 2006, 6M 2007 without any new wins!! However, PMH are delivering 500k pm (avgd over 18 months) & want to get to 2m pm.There's plenty of work around, and they have 3 yards. NB this figure can be met without lots of staff due to rig rates soaring & govt pressure for investment. We haven't seen rising 2005 rig rates reflected in 2006 figures - yet.

I think 3/4 by 2008 not unreasonable (even given last dilutions) if they can move from 17M 2007 forecasts to nearer 25M/30M. A 10M 2yr project alone would do it.

The Owl - 21 Jan 2006 17:20 - 142 of 418

I've raised own target to 1.80 from 1.40 end (Dec) 2006. (This is only a few % above Jan 2005 price). Nothing there now to hold back GME. None of reasearch includes transforming jv type work for which GME just need free yard space (have 2 cash offers+contract options) - need 3 parts to come together simultaneously.

They'll be no more dilutions as plenty of cash, instis pressure, chairman's holding, & option expiry 2007. Also cash flow from high margin 2004/2005 work finances new projects. If successful they could buy back shares - hopefully not too soon though!

'Dark secret' supplement (Independent Friday) re Goldmans 3x1990's (=$2.4T) Essential/Critical for this decade.

DEMAND & shortage of oil engineer staff remain - GME's t/over will expand continuously... with now +13.2M orders on books (Market cap of 11m, market value 9.5M excl PMH), they can deliver half this year, half next to show 11M sales 2006, 6M 2007 without any new wins!! However, PMH are delivering/receiving 500k pm (avgd over 18 months) & want to get to 2m pm.There's plenty of work around, and they have 3 yards. NB this figure can be met WITHOUT lots of additional staff due to rig rates soaring & govt pressure for investment, also pace of delivery of order book can be stepped up. We haven't seen rising 2005 rig rates reflected in 2006 figures - yet.

I think 3/4 by 2008 not unreasonable (even given last years dilution) if they can move from 17M 2007 forecasts to nearer 25M/30M. A 10M 2yr project alone would do it - so would 4 more like the COS deal Thursday.

moneyplus - 21 Jan 2006 17:54 - 143 of 418

hope they move up quickly as I'm 3000 down at the moment and no spare to top up unfortunately. all my tiddlers still red!

The Owl - 21 Jan 2006 18:01 - 144 of 418

No. of trades & their size on Thursday & Friday in both GME & Patriot suggests the Americans are here (choosing instead of PMH to invest in parent Co. - safe with Directors & international Instis).

Without media coverage, where else are so many new (and clearly they are new) PI buyers appearing from? There were some 1,000 US brokers watching for PMH to hit $3 on OTCBB ($3 is when stock can list on main boards - until then most brokers not able/interested).

I think we'll see more soon, and should be back above 50p by end Feb. Seems crazy that this time last year we were nudging up towards 1. With restructure complete, now trading profitably, orders of >13m, Iran situation & oil investment generally, is GME really worth about 1/4 of its value a year ago? Placing well overdone IMHO.

Everyone I speak to is still very bullish on GME - one or two on the dance floor, but party's not begun yet. Give it 3 months.

blinger - 21 Jan 2006 18:19 - 145 of 418

Just looked at my shares bgt. for 450, years back , now worth 25, what a co.
Must be mad.

The Owl - 21 Jan 2006 19:51 - 146 of 418

Stick with it blinger. The post consolidation period is now over (witness price action last few weeks & particularly Friday). Maybe a few sellers about but nothing significant & they'll loose out. There is no resistance now. GME is about to soar, and with PI's holding only <25% of the stock there's nothing you and I can do about it!

You picked a good co. - just very difficult to time with AIM. Now is GME's turn. Look on bright side - I'm 20k down (would have been even without November placings) but absolutely fine with it! Nice to see a 5K move up Friday. 5 more days like that & will be profitable again - however above 60p and I have tax problems :)... so in till Sept 07 price should by then be around 1. The best is yet to be as $3.2m is only about 1.8M. - and not the reason 5 institutions + chairman & including Advisers splashed out. There's probably a jv type project on way soon.

Everything now seems to be going in GME's favour - orders flooding in (most of which we don't hear). Bankside suggested in an email last week they soon won't be reporting a $3m order! That wasn't exaggeration as PMH have about 100 oil engineers, NIM about 10, and they have some 3 yards & port facilities. Patriot have delivered (ie received payment for) 500k pm avgd over 18 months and want to get to about 2m - that's 24M from Patriot alone!. Can they do it ? Sure they can! Rig rates & pacing their delivery (not loads more staff), will ensure they get there within 2 years or so. They are at 700k delivered in last 6 months (4.15M interims /6) so 1/3 of the way there.

In another email, offshore wind farms might be a possibility but not yet. Requires same skills - just margins are much lower than oil & demand on oil projects is enormous (still not built in as price only reflects placings, not any forecasts as these are not in public domain). GME have to tender with their other 2 competitors because 3 companies must always be evaluated, and their competitors are very stretched.

A new gear is about to be engaged - yet no one knows about GME. Investors Chronicle remain embarrassed by their bad timing a 'Top Ten' buy in Dec 04 @ 1.40p so won't cover for a while (until it does soar, then they'll say it was recommended at 1.40p and claim the credit!) So be confident - GME remains in the right sector, oil is scarce, powerful forces at work will ensure massive investment in rigs/upgrades etc soon, and should be back at your price within 2 years - probably sooner.

No way is GME 1/4 of its value this time last year just because of placings! with all the orders on the books (10x what they had 2 years ago!!). It takes time (always does), but the market will eventually wake up to what GME is worth now, and more importantly it's future value/potential - which is limitless as all the company's together could not deliver the 2.4T Goldman Sachs says is essential in oil investment programmes this next decade. GME have some total 6M+ funding available, major institutional support, 13M on books, an expanding order book, winning repeat orders with several top names (much better than new clients as keeps costs down), are profitable & at last have a sensible share price. What more could we ask?

First bought GME at 1.20p, unfortunately had to sell initial stake against another co as GME was not delivering sales, but got in again quick May last year. If they were offered at that 1.20 price now, I'd buy. 2.50 is I think too expensive right now, however (daft as it seems) 3 is possible by April 2008 if they exceed 30M sales (approx 11M profit compared with 1998). This is only a few orders from the 17M paid analysts are forecasting for 2007, and does not take account of big jv - completely uncovered in any research note (would be about 10M).

The Owl - 21 Jan 2006 20:59 - 147 of 418

Don' t trust technicals on AIM but worth a look none the less:
http://www.britishbulls.com/StockPage.asp?CompanyTicker=GME&MarketTicker=INDUSTRIALS&Typ=S

The Owl - 23 Jan 2006 09:31 - 148 of 418

Morning!

https://www.research.reuters.co.uk/microsite/documentsynopsis.asp?docid=36317757
(Don't need to pay for anything - just read the header!)
also new research 18 Jan (if you do want to pay 10) on Reuters' site.

By the way, I must apologise.

As you know, I've disagreed with the analysts on their estimates for 2006/2007 - their 13m & 17m sales figures. Mine were much more conservative at 8m, & 12m (as mentioned on BB previously). So what's changed the view? Can you see what it is yet?

My error is to take the orders on face value & extrapolate using average figures over 18months. Unfortunately, this looks too much into the past & too little into the future! It fails to recognise the new company - its pattern & reporting trends.

Looking back over the last year's announcements, a new pattern has emerged in reporting orders - completely different to before, yet it's the small print.
We get carried away with the actual order, not with what the extra lines mean!!

It's this:
An order for x....and a memorandum of understanding to supply further .....
We have won a new order for y ....which will be scheduled to meet the clients needs...
GME have signed an x year agreement with...

I had my roof done recently. The roofers were paid twice the original estimate! Why because a) they're a scarce bunch (I'd already waited 6 months to get them on site) b) My requirements changed - I wanted the guttering doing as well as the roof c) I could afford it (even though scaffolding cost a fortune) - they could do it. Once I had the relationship worked out and happy with their work etc I wanted them to stick around.

The same is happening with GME. Their clients want to provide repeat & ad-hoc work to their clients. There's huge demand. GME don't want to report every single new order - but do want the option for significant ones. I received an email recently suggesting the $3.2m COS deal is unlikely to be announced in the future! It will be relatively insignificant.

...so if GME keep up this trend, the analysts estimates may after all be correct for this year & next. They could even have slightly understated if PMH's '$7.15m won orders in 4 months' is repeated or upped during 2006. We could be heading for 4.15m (already bagged)+further cfwd orders delayed from Mch eoy results+anything actually delivered since Sept 05. Given o/s orders stand at the +13m mark, these last two could easily hit the 8m-10m mark - giving 12m-15m for 2006. Any 2005/6 orders will of course use the even higher rig rates.

ps those 2 huge post close orders on Friday for GME were bizarre. Usually Friday is a quiet trading day. I mean why bother - why not wait till Monday/Tuesday - specially when the main markets are obviously tanking?

We're nearly one month after the 28/12 EGM. Are GME about to announce something significant?

The Owl - 23 Jan 2006 12:44 - 149 of 418

That's your lot folks - spreads gone 24p/26p to 25p/28p (one MM). Most MM's on 29 - one 30p.

If you bought in last 7 days, well done. Bow to your superior timing.
If not, still possible but you'll need to pay up a bit from now on.

potatohead - 23 Jan 2006 13:50 - 150 of 418

check out TFC and watch ITV2 with trevor mcdonald at 8pm ;-), you know it makes sense

The Owl - 23 Jan 2006 14:12 - 151 of 418

Nice tip PH, but IMHO GME will rise further faster!

The Owl - 23 Jan 2006 16:59 - 152 of 418

Good volume these last 2 days. 1.25M out of available 40M have been bought on little to no news. A few T trades too & close at high of 26.25p.

The Owl - 24 Jan 2006 11:26 - 153 of 418

Global Marine Energy PLC
24 January 2006

24 January 2006

Global Marine Energy plc ('the Company')

Notifiable Interest

The Company announces that it received notification on 20 January 2006 that on
18 January 2006 The Goldman Sachs Group, Inc. ('GS Inc'), including its direct
and indirect subsidiaries, had an interest, by attribution only, in 2,365,000
ordinary shares of 2.5p each in the Company, representing 5.33% of the issued
share capital of the Company. The shares will be registered in the name of
Goldman Sachs Securities (Nominees) Limited.

This represents the entire holding of GS Inc, including its direct and indirect
subsidiaries, in the share capital of the Company.

On 7 December 2005 the Company announced that GS Inc, including its direct and
indirect subsidiaries, had an interest, by attribution only, in 118,500,000
ordinary shares of 0.025p each in the Company (prior to a 1 for 100 share
consolidation), representing 4.01% of the issued share capital of the Company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Adam Westcott, Noble & Company Limited 0131 225 9677

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 24 Jan 2006 22:28 - 154 of 418

Now why would GS Inc add 1.32% so soon after taking initial stake?
Only if sure of something IMHO!

The Owl - 26 Jan 2006 11:37 - 155 of 418

Hope we're all strapped in :-)

stockdog - 26 Jan 2006 11:58 - 156 of 418

Sitting back, relaxed, securely fastened - experiencing a mild g-force in the small of the back!

sd

stockdog - 26 Jan 2006 11:59 - 157 of 418

Sitting back, relaxed, securely fastened - experiencing a mild g-force in the small of the back!

sd

The Owl - 26 Jan 2006 12:07 - 158 of 418

SD
G-force. Definitely not G-string?

stockdog - 26 Jan 2006 12:41 - 159 of 418

that's not in the small of my back!

The Owl - 26 Jan 2006 12:52 - 160 of 418

Chrissie, hope you're still on board?
I'm thinking within a week, but judging by what's goin' on in Leeds today, could be sooner.

The Owl - 27 Jan 2006 14:10 - 161 of 418

Global Marine Energy PLC
27 January 2006

27 January 2006

Global Marine Energy plc

Issue of Equity

Global Marine Energy plc ('GME'), the oilfield services business, announces that
it has issued a total of 407,298 new ordinary shares of 2.5p, at 27.9p per
share, to certain employees of Patriot Mechanical Handling, Inc. These shares
have been issued to the employees as part of the employees' lock up agreements
following the acquisition of Patriot Cranes Inc by Patriot Mechanical Handling,
Inc in 2004. The issue was detailed in the Annual Report and Accounts of MOS
International plc (a previous name of GME) for the year ended 31 March 2005.

Application has been made for the admission of the new ordinary shares to
trading on AIM and dealings are expected to commence in the new ordinary shares
on 30 January 2006.

For further enquiries contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Adam Westcott, Noble & Company Limited 0131 225 9677

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 27 Jan 2006 14:11 - 162 of 418

Not the news I was thinking of!
Will come Mon or Tuesday IMO.

Price as at yesterday so not discounted - great.
Also mandatory placement.
They're getting ducks lined up, and don't want anyone to miss out.

The Owl - 27 Jan 2006 14:11 - 163 of 418

Not the news I was thinking of!
Will come Mon or Tuesday IMO.

Price as at yesterday so not discounted - great.
Also mandatory placement. Pg 29 Para12 - payable on first/second anniversary.

They're getting ducks lined up, and don't want anyone to miss out.

The Owl - 28 Jan 2006 00:06 - 164 of 418

January 27, 2006 - 4:05 PM EST

Patriot Mechanical Handling Announces $12.4 Million Mechanical Handling Equipment Package Order From Keppel FELS

Singapore Bound Order Creates New Potential Market Opportunities for Company's First Packaged Solution

Patriot Mechanical Handling Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has received an order valued at $12.4 million USD from Keppel FELS in Singapore. The order is for 2 rig sets, comprising a complete mechanical handling package, for new build semi-submersibles currently on order to Keppel FELS from ENSCO International, Inc.

Paul Findlay, CEO of Patriot stated, "This order is extremely significant in that we will provide a complete package for all handling operations on and around the rigs. We are very pleased to have the opportunity to work with Keppel FELS again, and to meet their mechanical handling equipment needs." Findlay added, "This order exemplifies and reinforces our strategy of pushing the complete packaging of our equipment for mechanical handling solutions to the offshore drilling industry. We are now aligned with the offerings of other companies in our industry. Combined with our streamlined operational structure, this product offering gives us the ability to be a strong competitor."

The order calls for Patriot to deliver a Riser Gantry crane, marine deck cranes, BOP Handling, and tree handling systems, and to provide training, spare parts and commissioning services. Delivery of the first rig set is scheduled for second quarter 2007, with the second rig scheduled for approximately third quarter 2008.

Keppel FELS is a wholly owned subsidiary of Keppel Corporation, through Keppel Offshore & Marine, a leader in offshore rigs, ship repair and conversion and specialized shipbuilding. Keppel O&M's near market, near customer strategy is bolstered by a global network of 17 yards in the Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East and North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry.

The Owl - 28 Jan 2006 00:09 - 165 of 418

This is the 'wow' factor order we've been waiting for.
It adds >7M to current estimates

IMO More significant though is the huge vote of confidence it generates. Similar orders like this from Keppel & others will be here soon. It is therefore a 'transforming' order which should take
GME into 30-40M territory in 2007 - well beyond current estimates.

Keppel Fels are huge & have already passed GME loads of work.

A very happy weekend...

The Owl - 28 Jan 2006 07:29 - 166 of 418

4x best yet. Others can calc earnings, PE etc.

PMH: $7.15m+$12.4m=$19.55m in 4 mnths=$4.89m pm av =$59m pa = 34M@1.7600 rate (37M@1.6000). Last year (Mch05) 1.42M profit on 4.61M sales = 31%.

If 17m 2007 consensus correct, takes sales to 30M (~10M profit) on OLD rig rates.
Exceeds 21M/7M profit of 1998 when shares were 4. $/oil rises even better...

7MM's only 40M free & instis should drive price Monday.
Backers + RBS mean limitless finance for limitless orders.
Mr Wood: 'Can I have money?' RBS 'Yes'

Birthday so.. off to Bolton/Arsenal

ps Observing past 60p. In GME May05 so not giving govt 40%!!

Happens to be birthday weekend... off to Bolton/Arsenal

ps I'm an observer past 60p. In GME May05 & not giving govt 40% !!

stockdog - 28 Jan 2006 21:04 - 167 of 418

Happy Birthday The Owl!

Here's my take on the figures - differing slightly from yours, but with the same general result.

Adding Reuters reported $7.4m orders of last 6 months to the above $12.4m makes $19.8m over 7 months (say) which, at an exchange rate of 1.76, = 19.3m p.a sales for Jul 05 to Jun 06. Extrapolating a bit on the assumption similar orders continue to grow at 50% of the Reuters estimated 2006 to 2007 increase from 13m to 17m - i.e. 15% - suggests turnover for year to Mar 07 of, say, 22.269m.

Gross profit of 37.5% less 5.35m overheads less 150k depreciation and goodwill (all a tad more conservatively than estimated by Reuters to allow for a slightly higher turnover), leaves net profit before tax of 2.85m less tax at say 20%, makes net profit after tax of 2.28m - with approx 44,800,000 shares in issue including the 407k issued on Friday, this is an EPS of 5.09p and a 12 month forward PE on yesterday's closing mid price of 27.38p of 5.38. This is twice what Reuters suggested earlier this month when the SP was nearer 17p - even so it's a low number for a company that has put itself in order, is well solvent and is growing as rapidly as GME.

Here's the leap of judgement (to mix at least a couple of metaphors) - assuming the PE could be expected to be at least the FTSE average of 14.6 for a growth company in a sector desperately needing to grow to service the rising oil demand after years of under-investment - this would suggest an SP about 2.7 times present value of nearer 74p.

One hidden assumption in the above of some significance is that GME can turn orders into revenue within a 12 month period. Even if not, I can't see the SP being worth less than double its current value in short order.

Happy I topped up last week.

Interested in any contrary views.

sd

stockdog - 30 Jan 2006 07:56 - 168 of 418

I see from this morning's more detailed RNS that the first rig will be delivered in year ending March 2008 and the second one in the year ending March 2009. The revenues will probably be booked 50% each in those two years, so no immediate impact on year to March 2007, but still good news for the long-term order book. The figures in my preceding post are thus not an accurate reflection of the impact of this order. However, there should still be a substantial positive effect on the SP.

sd

The Owl - 30 Jan 2006 11:31 - 169 of 418

Just checked Digital look.
They have 20M sales est. for 2008 - this prior to COSL/Keppel announcement, and 17.29M for 2007 - again prior to COSL/Keppel.

Interesting to see if Corporate Synergy go back to their Autumn 'buy 53p' stance after they changed to 'Hold' post annual results.

stockdog - 30 Jan 2006 13:00 - 170 of 418

Do you reckon they book any revenue for this contract in 2007 on a part-complete/part-paid for basis, or do they have to deliver fully complete before they get any payment?

I use Digital Look too and which ever way you look at it the forward PE's versus the forward growth in EPS show a PEG of less than 0.1 - so as long as we keep the forward order book growing from here and maintina sufficient w/capital to service them, this is a great mid to long-term hold.

Copr Syn's "buy 53p' accords with my expectation that the SP could double over the next few months.

sd

The Owl - 30 Jan 2006 13:46 - 171 of 418

Thanks for your good wishes - SD.

If they receive funds, they can book as turnover. So in theory, yes - if they started today and completed 250k work (say) next 2 months and received payment, this could hit the 2006 figures. However, it's unlikely to be significant for '06 and seems to be a great order ro show there's some 7M on top of their 13.2M o/s orders before.

The Owl - 30 Jan 2006 18:23 - 172 of 418

http://www.leedstoday.net/ViewArticle2.aspx?SectionID=40&ArticleID=1332190

stockdog - 30 Jan 2006 19:18 - 173 of 418

Owl
Are you concerned by the number of largish sells towards the end of the day? I interpret these as institutions taking an opportunity to rebalance and providing the MMs with some stock to sell to willing buyers - but I would not want to see too much of this overhang impeding a graceful upward sweep of the chart.

sd

The Owl - 30 Jan 2006 22:23 - 174 of 418

Are you sure they're sells, SD?
I did a test sell on 15k & 20k and was offered 27.50 for 20k & 28 for 15k.

This was around the same time the big orders went through at 29.50. I cannot believe 500,000 worth of Broker or protected trades managed to sell at 29.50.

Despite showing as 27.50-32 for most of the day, most people picked stock up for either 30.85 or 30.70.

I think they were buys not sells. The next couple of days should tell if institutions have increased or reduced their holdings. I'd be surprised if they'd take this opportunity to sell - it would be a very poor return for their risk IMO.

The Owl - 31 Jan 2006 21:19 - 175 of 418

Quiet and steady day with a few more T trades.

The Owl - 01 Feb 2006 13:48 - 176 of 418

Lots of sells today, but holding solid.
S/be another RNS soon.

ps Mr Findlay will be on Sunday on the Money. The production company keep moving the date. Later the better IMO as now $20m since September to talk about :)

stockdog - 01 Feb 2006 17:56 - 177 of 418

As reminded on yesterday's RNS we only have an 82.76% interest in Patriot sales - however, still very encouraging.

The Owl - 01 Feb 2006 19:41 - 178 of 418

BTW Stockdog, Patriot's share price isn't doing too well. Reason is once US investors discover PMH is part of GME, they do the sensible thing & invest alongside Directors (i.e. in GME) also AIM (despite it's flaws) leaves OTCBB standing - both in terms of international exposure & regulation. You'll no doubt be aware American firms are even choosing AIM over Nasdaq (due to Sarbannes Oxley regs). Capital Group in promoting PMH were desperate for investors not to discover GME as there was a big disparity in value.

Now if you were a Director of GME knowing there were $20m of orders won & dollar likely to increase in value, what would you do with the remaining 18% of shares now PMH is so cheap?

IMO the listing was a good idea at the time but no point to it now. I think they'll either launch PMH on AIM or consolidate PMH's value fully into GME by a share swap-in - thereby massively inflating GME's price & Net Asset Value. Just my view - nothing more.

cellby - 01 Feb 2006 19:58 - 179 of 418

that sound good owl my 10k is now worth 4k keep it coming, better than 3k it was worth at newyear.

blinger - 01 Feb 2006 20:51 - 180 of 418

LOL

stockdog - 03 Feb 2006 10:36 - 181 of 418

a little tree-shake or something we don't yet know causing the SP to drop 5% this morning?

The Owl - 06 Feb 2006 08:20 - 182 of 418

GME expect to bring results forward if pro's can be lined up. Makes big change to usual Sept publishing & is very positive sign...

Also GME were upgraded on 10 Jan 06 by Altium Capital - new price target 75p. Old price target 65p. (Share price at time was 22p). - source Investors Chronicle.

The Owl - 08 Feb 2006 10:37 - 183 of 418

News soon.

The Owl - 10 Feb 2006 11:50 - 184 of 418

Global Marine Energy PLC
10 February 2006

Global Marine Energy Plc ('GME' or 'the Company')

Appointment of Financial Director

The Board of GME is pleased to announce that Andrew Gibson has been appointed
Financial Director of the Company effective from 13 February 2006. He has also
been appointed to the Board of GME, effective from the same date. Andrew will be
responsible for all aspects of the Company's accounting and finance functions.

Andrew (aged 40), is ACA qualified, and has extensive experience within the
financial sector of the engineering industry, having worked as International
Financial Controller at Cape plc since 2001 and was a director of Cape plc's
international holding companies Cape Overseas Ltd and Cape East Ltd, and also
held Financial Director positions at MG Telecommunications Limited (now Skanska
Networks); Paralloy Limited & Paralloy Fabrications Limited; and John Gibson
Group Ltd.

Commenting on the announcement Philip Wood, Chairman of GME said: 'We are
delighted to have secured Andrew's appointment. He is a highly experienced
industry executive and his arrival strengthens our team. We are keen to continue
the current growth of GME and increase the number of orders we have received in
recent months. Andrew's appointment gives us greater experience in managing the
funding and working capital requirements of this growth.'

Andrew currently has no interest in the share capital of the Company. It is the
intention of the Board to issue him with options following his start date.

chrissie - 11 Feb 2006 19:23 - 185 of 418

Hi Owl,

Well lets hope the new FD does well for us. Can't believe the sp, I really thought we had started our climb to infinity and beyond. Maybe next time!

By the way Owl, thanks for keeping us all up to date with info.

blinger - 11 Feb 2006 20:05 - 186 of 418

I would love to see this thing soar, but I have to admit that as a long term hold (and goodness knows I have waited "long term"), by the time they get their oil-related stuff together, oil will be the fuel of the past.
As Lenny Bruce said about girls who `didn`t go all the way`, by the time they are ready to- that `won`t be the way`,
sad but true.

The Owl - 12 Feb 2006 22:24 - 187 of 418

http://www.smallcap.tv/

Big 256MB file. Patriot 3rd item on Program.

Try to keep your eyes on Paul, Guys! (specially you, Stockdog ;-).

chrissie - 14 Feb 2006 09:32 - 188 of 418

Happy Valentines Day!

Good news expected then...

blinger - 14 Feb 2006 09:40 - 189 of 418

Happy Saint Valentines day please.

The Owl - 14 Feb 2006 15:44 - 190 of 418

Global Marine Energy PLC
14 February 2006

14 February 2006

Global Marine Energy plc ('the Company')

Notifiable Interest

The Company announces that it received notification on 14 February 2006 that on
9 February 2006 The Goldman Sachs Group, Inc ('GS Inc'), including its direct
and indirect subsidiaries, had an interest, by attribution only, in 4,725,000
ordinary shares of 2.5p each in the Company, representing 10.55% of the issued
share capital of the Company. The shares will be registered in the name of
Goldman Sachs Securities (Nominees), Limited.

This represents the entire holding of GS Inc, including its direct and indirect
subsidiaries, in the share capital of the Company.

On 24 January 2006 the Company announced that GS Inc, including its direct and
indirect subsidiaries, had an interest, by attribution only, in 2,365,000
ordinary shares of 2.5p each in the Company representing 5.33% of the issued
share capital of the Company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862
Adam Westcott, Noble & Company Limited 0131 225 9677
Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS

The Owl - 14 Feb 2006 15:45 - 191 of 418

4 pieces of news still expected! This not one of them.
2 imminent.

The Owl - 15 Feb 2006 05:31 - 192 of 418

State of Play after Goldman increase:

GME Share Total 44,786,730 (A) (*excludes options, 'special' shares, & PMH)

Goldman 10.55% 4,725,000
Gartmore 16.93% 7,582,498
MDB 3.68% 1,650,500
Amvescap 3.74% 1,660,000
P Wood 7.90% 3,537,683
UBS 4.47% 2,758,559
Noble 4.46% 2,000,000
Staff (Ex Wood) 0.5% 218,800
--------------------
TOTAL 'FIXED' 52.23% 24,133,040 (B)

Est 10 PI's 25k Invested (100,000 shares) 1,000,000
PI's 100 PI's 10k Invested (40,000 shares) 4,000,000
-------------------
TOTAL LONG TERM 'OPEN INTEREST' PI ~11% 5,000,000 (C)

Net 'FREE TRADEABLE' A-(B+C) = 15,653,390
(Does not include those institutions with less than 3% who have not declared)

Average Per MM=15,653,390/7 = 2,236,197
Max Daily Vol since split 1,658,775 (20th Jan)
Avg vol since split 18 days 297,099 (6-13 Feb - Yahoo Finance)
At current 40c, Patriot/GME price ratio= 1:1

So GME 'could' sell 15,000,000 Patriot = 20% of 82% holding to buy back GME shares & eliminate the free float,yet still retain 62%...

The more GME rises, the more this will cost as it becomes expensive relative to Patriot. Practically unfeasible if doubled to 50p (unless PMH rises proportionately) as risk is GME's PMH holding could reduce to less than 50% so GME no longer single majority holder.

As usual, just my opinion - DYOR

stockdog - 15 Feb 2006 07:40 - 193 of 418

Very interesting figures, Owl, but not sure what it tells us, other than good institutional suppport sitting there like us waiting for the day when it comes good. Why would buying in the free float be a proposition they would consider? It would diminish the market for the institutions' holdings - they will want to sell to someone else sooner or later, including PI's. Equally, they might want to buy in the 18% minority in Patriot before it got too expensive - needing to raise a little extra capital to do so, or possibly debt financed once clearly profitable with good cashflow.

sd

The Owl - 15 Feb 2006 08:14 - 194 of 418

SD
the thinking is GME could sell 20M Patriot shares @40c to raise 4.6M, yet still retain 62,000,000 Patriot shares. With the money raised they could use 2m to buy back shares in GME (thereby doing what they always said in RNS 11 May 2005), reduce no of shares by 8M and so increase value of them.

stockdog - 15 Feb 2006 08:39 - 195 of 418

I agree that may intensify the short-term market value of GME shares, but at the cost of having sold part of the future revenue stream i.e. long-term real value, since PMH are the main earner. Perhaps it depends on your time scale which way you vote on this one.

The Owl - 15 Feb 2006 09:05 - 196 of 418

Yep, fair point.

The alternative (I guess) is for Patriot to get back to $2 which we'd all love to see. However, with only 18% stock available, no Director or institutional interest (until PMH get's over $3), it's hard to see how it would climb with all the pump/dump ops on the OTCBB. So maybe with the shares trading at 30c, GME should increase its holding.

stockdog - 15 Feb 2006 10:57 - 197 of 418

That would have the merit of forcing at least some PMH holders into the parent which would then create a little upward pressure on GME SP?? I like that idea. Besides, it does not make sense to have 18% hanging out, unless it is a structured route to more capital which I believe is not the case here.

BTW what is the market cap of PHM currently - not found a site to tell me this info? Thanks in advance.

sd

The Owl - 16 Feb 2006 17:31 - 198 of 418

Today has been absolutely fantastic.

We needed the share to start testing the placement, and 20p level to confirm institutions and others are there. Painful for us holders I know, but it had to happen.

GME behaved perfectly with 800,000 more trades than the best day this year (that includes after Keppel & COSL announcements). Volume was 4x daily average, and (I think) better than the best day in 2005 (share for share). Lots of T trades and M trades as MM's only have average of about 2.5M each (see analysis 2 days ago).

Lots of new buyers it seems too. All this on a day with no announcement, no media coverage, no orders etc - perfect.

capetown - 16 Feb 2006 17:48 - 199 of 418

Mr OWL,
I have been watching this for a while now,and i jumped in @23,
Great thread with constructive info.
Will be watching even harder now.
THX

chrissie - 20 Feb 2006 00:20 - 200 of 418

capetown

Very envioous of your entry point of 23p! Welcome aboard.

Owl

Hope you have a good time on the piste!

The Owl - 27 Feb 2006 18:11 - 201 of 418

Chrissie

wonderful time, thanks.

New IT work starting (my other job!) in a couple of days so back just occasionally.

The Owl - 28 Feb 2006 14:09 - 202 of 418

Analyst estimates/forecasts now available for 2008 - (Source: IC)
Personally still don't believe GME can achieve 13M for 2006.

I think 7-8M is more realistic - but what do I know?! I guess we should just use last year as a guide till told otherwise.

IMO 13M only possible if they've done some clever things with delayed turnover from last year - i.e. booked most of it in 2nd half. Even then it's pushing it.

Forecasts
Year Ending Revenue (m) Pre-tax (m) EPS P/E PEG EPS Grth. Div Yield
31-Mar-06 13.02 (0.37) (1.13)p n/a n/a n/a n/a 0.0%
31-Mar-07 18.29 1.67 2.63p 9.2 n/a n/a n/a 0.0%
31-Mar-08 21.54 2.97 5.26p 4.6 0.0 +100% 0.10p 0.4%

Forecast Ratios
Year Ending Revenue/Share Price/Revenue per Share
31-Mar-06 0.29 0.83
31-Mar-07 0.41 0.59
31-Mar-08 0.49 0.50

sjtee - 01 Mar 2006 16:00 - 203 of 418

Owl you mentioned 4 bits of news 2 imminent (post 119). Have not seen much in the way of news since then are you still expecting these and any idea when?

The Owl - 01 Mar 2006 23:25 - 204 of 418

Like watching paint dry with this lot!
Yep, 2 pieces of news before end Feb - but it's now March!!
1) What they'll do with OTCbb shares
2) Is there to be early announcement of results

3), 4) are speculative for March/April.

In with 15k PMH@16c today. V.risky as they may cancel OTCbb shares, and totally against the market, but think Mr Baer will come up with something good in next 2 months.

PMH are exhibiting in April.
http://www.iadc.org/conferences/OL6_Program.html
http://www.energyinternat.com/pdf/412-pdf/412-citn.pdf

chrissie - 02 Mar 2006 19:15 - 205 of 418

Owl

You're right, it is like watching paint dry. I really thought the sp would have come good by now. I am 40 in August and was hoping to treat friends and family to a wild weekend. So what do you think, shall I book something up or what? Surely the sp will have reached 1 by August after some cracking reslts and decent contract wins. Is it possible or am I dreaming?

stockdog - 02 Mar 2006 19:21 - 206 of 418

Softly, softly catchee monkey - but yes it's pretty dull stuff. Perhaps there'll be a Trading update end of March. Hope for everything, expect nothing.

sd

The Owl - 02 Mar 2006 21:10 - 207 of 418

Don't think you're dreaming, Chrissie.
Why not have a wild time anyway - only 40 once :-)

Wise words SD!

Small confession guys 'n gals - bought 40k PMHH avg 16c.
I know, I know - Pinksheets n all that.

Just don't see a $2 share being worth 1/13th of its value in 10 months with $20m orders announced in 5 months. They may have wrongly valued PMH at $2, but not so wrongly it's below original purchase price!

If they cancel/swap PMH for GME, possible loss on PMH should be offset by rise in GME. On other hand if any danger of GME not delivering good results, I think they'd look to sell PMH. Could be very wrong here though & extremely risky strategy!

stockdog - 02 Mar 2006 22:18 - 208 of 418

Too clever for me Mr Owl. It should goive you an intersting perspective on GME at least. Good luck.

Here's to 40p for Chrissie's 40th!

sd

The Owl - 03 Mar 2006 21:15 - 209 of 418

Patriot up another 38.9% @25c - up 67% on the week from 15c low.
Wonder why?

stockdog - 04 Mar 2006 11:21 - 210 of 418

Owl
If GME hold 82m Patriot shares @ 25c = 11.7m and there are 44.38m (Dig Look) GME shares in existence, then Patriot is worth 26p per GME share.

Did I get the number of patriot shares held by GME correct?

As I've suggested before, it would be great if GME bought in the 18% o/s Patriot stock - they could probably do it on a share swap at no material cost (except prof advisors) to anyone. At $/1.75, they would issue about 4 GME shares for each 7 Patriot shares at today's respective SP's. There would be no dilution, because the additional shares of GME issued would bring with them real value of the same amount into the company.

sd

The Owl - 04 Mar 2006 21:54 - 211 of 418

Agreed SD. Sounds a great idea too.
Problem is May 2005 RNS which said GME would reduce holding as funds allow.
Not sure where their current OTCbb share discussions will lead.

Would be good to hear the outcome sooner rather than later as the OTCbb listing celarly not gone as intended.

chrissie - 05 Mar 2006 16:52 - 212 of 418

Owl
Well here's the thing, I want to treat my friends to the wild weekend. Can't do that if GME don't reach 1 or thereabouts by August. Refuse to sell at huge loss!

moneyplus - 06 Mar 2006 12:10 - 213 of 418

I'm sitting on a large loss and wondering whether to move on as you say a trading update would help!

chrissie - 06 Mar 2006 14:10 - 214 of 418

The next 6 months should be very telling. Maybe a trading update at year end and then results. As far as we know order books are full and still plenty of work around to keep us busy for years to come.

The Owl - 06 Mar 2006 21:23 - 215 of 418

PMH books are certainly full. Also lots of UK staff now have PMH addresses.
If they needed to, the NIM yards could probably take some work.

Last I heard re NIM (Oct AGM) was they'd built 4 cranes for Baker Marine who now wanted 4 more (2 per rig). They didn't have the funds at that time, but have now so I guess if the order is still there, they must be building away. Anyone's guess on additional work. The orders are not huge so don't need to announce, also issues of confidentiality. IMO Mr Wood is ambitious with the parent so if NIM (which he only bought recently) doesn't perform (i.e. show signs of regular 300-500k orders, he'll sell it off in favour of PMH - thereby raising GME sp.

Let's just hope the whole co. is still 'trading profitably' as per Dec RNS as this is not what the market expects at all.

I keep reminding myself only started this investment in May! AIM's really meant for Medium- long term (i.e. 2-5years) otherwise there's no reason to hold AIM stocks, plus you don't get the 10% CGT advantage until 2 years have passed.
We've been extremely unlucky with the turnover disappointment & placement. The stock is oversold and should be about 45p at the mo IMO. It's 23p because of the appalling PR - i.e. no reason other than speculation why it should be higher.

I'd love to see 2, but have tax issues if we go over 60p soon! ..hence ok if they take another 9 months -1 year (just so long as there's progress) to get to this then hit 1 by May- Sept 2007.

stockdog - 06 Mar 2006 23:57 - 216 of 418

We do need a trading update around the end of the year Mar/Apr to cheer us up (or otherwise). I share moneyplus' predicament - big loss, bored, looking for some progress, BUT I have a number of other stocks firing up very well to keep me happy and as Owl says, 1 in a year's time will be a very nice result whilst my current fiery steeds are either taking a breather or have been put out to grass and replaced by other watch, wait and hope mustangs.

The relative stability over February since the last whiplash at least gives confidence that there is no bad news out there. The reports of orders placed and trading profitably make waiting for full year results worthwhile IMHO before jumping ship.

Also we seem mercifully uncluttered by rampers and bashers, so we can reflect upon Owl's very welcome snippets in tranquility and optimism (tinged with the watchful eye of fear, of course!).

sd

The Owl - 07 Mar 2006 21:14 - 217 of 418

In another place, I've heard there'll be a trading update in April.

When in April, or what it will be is anyone's guess.
As you say SD, a healthy fear :-)

Patriot up 54% today. Not much volume though.

stockdog - 07 Mar 2006 21:31 - 218 of 418

Never mind the volume, feel the quality my dear!

The Owl - 07 Mar 2006 23:57 - 219 of 418

You seem like a good candidate for Chrissie's wild weekend, Stockdog ;-)

stockdog - 08 Mar 2006 09:43 - 220 of 418

Love to be there! Chrissie, please invite me. (Well, if you don't ask, you don't get and I'm too long in the tooth to beat about the bush!)

Does the reduction of Goldman Sachs below the reportable level remove the recent selling pressure and allow us to move forward now, or is that a signal for a greater exodus to come, do you think?

sd

chrissie - 08 Mar 2006 10:48 - 221 of 418

Apparently Goldman Sachs shares have gone to thier clients, so no mass exodus.

Will be sending out my invitations after the trading update in April. Depends on sp where this wild weekend is to take place. Could be Barcalona, Paris, Rome, Madrid or Bognor Regis.........Will let you all know.

stockdog - 08 Mar 2006 10:50 - 222 of 418

Bugger Barcelona - who was it said that?

The Owl - 08 Mar 2006 20:03 - 223 of 418

Goldman's purchase was as a 'nominee' - they bought a bunch of shares and sold them to clients - hence the notification.

There are no fewer shares, and it's postive really as they've managed to sell on all they had - so now have a 'reputational risk' with clients. I'd like to know if anyone big bought them via Goldman (e.g. RBS). I'll also be looking to see if Goldman start buying GME on own account to defend or actively move the price.

This by the way is why the share price hasn't changed. The same thing happens with instis like City Equities. Difference being CE generally sell to likes of you and me who usually quickly sell. Goldman clients are probably v. wealthy individuals mostly who'll stick around a bit.

stockdog - 08 Mar 2006 20:07 - 224 of 418

Chrissie, Owl - interesting thoughts on GS, thanks. I agree that now they've disposed of the shares it is more likely positive than negative on the SP.

sd

The Owl - 08 Mar 2006 23:04 - 225 of 418

This is interesting - I have often wondered about these people before, but only mentioned once in posts before. When I've a bit of time tomorrow, may do a bit of a study and see if (laymans terms only of course) there may synergies here...

http://portal.woodgroup.com/portal/page?_pageid=0,17510&_dad=portal30&_schema=PORTAL30

Look at the paragraph beginning ...Trading Natural Gas and size of acquisitions they're talking about. There are not many O&G companies around in UK like GME, Wood, Abbott etc...um I wonder.

Someone provide the other side please...cmon BritishBear, - right up your street here ...lol. I woodn't put it past Wood.

More importantly, what does 'eponymous' mean?

----

(By the way no relation to Philip Wood!)...

Wood Group Draws Up Shortlist of Acquisitions
by Mark Williamson The Herald Tuesday, March 07, 2006

Wood Group, the oil services giant, has lined up a series of multi-million-dollar acquisitions after a profits growth of 27-per cent last year helped by surging energy prices.

Sir Ian Wood, eponymous chairman and chief executive, said the Aberdeen-based firm was eyeing "two or three" targets across the world and could clinch a deal with one within the next two weeks.

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With oil and gas firms increasing global activity in response to strong demand for energy, the company wants to widen the range of services it offers and the geographic spread of its operations. All the potential acquisitions are in what Wood describes as the classic company range of dollars-10m to dollars-20m (GBP5.7m to GBP11.4m). However, the firm has not ruled out another deal on the scale of the GBP80m acquisition of Mustang, the American deepwater specialist it bought in 2000, and could comfortably fund another such deal.

Wood said the firm was positioned for strong growth in 2006 and faced an "opportunity-rich" environment, as oil and gas firms cashed in on record prices.

With the economies of leading oil-producing nations like Saudi Arabia dependent on oil prices remaining at around the dollars-60- plus a barrel level recorded in recent months, pricing conditions were unlikely to change significantly in a hurry.

This should be good news for the North Sea, where strong activity levels helped the company grow underlying profits from GBP67m to GBP85m in the year ended December 31.

The controversial increase in tax rates from April will have an unquantifiable impact on the province in the longer term. However, Wood expects the market to remain active into next year as producers try to squeeze every drop out of the ground, supporting demand for its expertise in areas such as the maximisation of output from existing fields.

Wood also expects an upturn in the US power market to continue to help the company's under-performing gas turbines operation.

Problems at the unit had prompted him in 2004 to put on hold plans to hand over the top job to his deputy, Allister Langlands. However, 39-per cent growth in profits, to GBP19m, indicated it made progress in the latest year.

Although there remained room for improvement in gas turbine margins, Wood said he expected the board to make an announcement on succession issues "towards the middle of this year". Meanwhile, Langlands was "extremely busy doing some really key things" for Wood, including looking at opportunities to grow through acquisition and geographic expansion.

Wood is keen to increase its presence in areas like the Middle East, where, historically, it has been under-represented.

Iraq involved "too many security issues and problems", reckoned Wood, but there were numerous opportunities in countries like Saudi Arabia and Qatar. Wood said that acquisitions in the UK were unlikely. Nonetheless, results for the year ended December 31 show that the North Sea remains a key area of the Wood business.

Sales in Europe, the bulk of which were in UK waters, rose 22- per cent to GBP506m. This represented 32-per cent of the group total of GBP1578m, the same proportion as in 2004, when group sales totalled GBP1307m.

Wood shares rose 4.5p to 259p.

The Owl - 08 Mar 2006 23:06 - 226 of 418

Just see the headlines now.

'Would Wood Group buy Wood's Group?'

Herschel1276 - 09 Mar 2006 07:49 - 227 of 418

Owl,

Just imagine if they were headed by Edward Woodward!

'Would Edward Woodward's Wood Group buy Wood's Group?'

:-)

stockdog - 09 Mar 2006 08:10 - 228 of 418

Eponymous from the Greek means literally "named about" so Mr Wood is the eponymous head of Wood Group. Robinson Crusoe was the eponymous hero of the book of that name. Just thought you should know.

The Owl - 09 Mar 2006 21:19 - 229 of 418

Same old news:

http://www.btimes.com.my/Current_News/BT/Thursday/Corporate/BT555636.txt/Article/

Well I don't know about you, but with orders like these coming from GME's best client, either GME will get a chunk more work, or they have so much already they can't take anymore!!

If that's the case, but they have the skills, wouldn't be surprised to see 'prefunded' orders coming in this industry soon. The clients can easily afford it.

There must come a 'tipping point' where economies of scale mean more companies will do what Wood Group are already doing, and start merging & buying up facilities. Just imagine, with a 20M-30M offer, another company would probably be better placed than GME's management to drive sales towards the 13M, 18M, 21M the analysts have projected, make economies of scale and even raise sales further to say 40M by better use of their own existing facilities. Pay back wouldd be 1-2 years. Integration costs (for the right company) could be minimal.

The institutions would be in favour too, & I'm sure and it would be a great accolade for GME management.

I wonder if this is now the only way GME can take on new work, and expand at the
rate they'd like? Yes, maybe Keppel was an indication of things to come, but we all know the co. can't take many of those due to length of contracts, and usual need for advance capital.

If anyone can see the merits/argument for GME 'staying single'
then fire away...in this game, surely bigger must be better.

stockdog - 10 Mar 2006 09:51 - 230 of 418

Owl - you forgpt to mention the final stage of the process, when the Oil Production Co sees the top of the cycle coming and then demerges a profit-enhanced Oil Service Co to book a nice gain at the expense of the PI's who have not yet spotted the final stages of the oil production reinvestment boom cycle!

I for one would be delighted with an offer for GME - can't wait around for ever. If progress is as good as the RNS's have suggested over the last year, this one should be a case of hold on rumour and buy after careful consideration of the accounts, creating some nice momentum when the prelims are publised (see DGT as a great example of this over this last week). If this does not prove to be the case, at least a little bit, I may well move on then to something a little faster rewarding.

Oh God, make me patient, but not yet - St Augustine might have said, had the stock market existed in the early part of the first millenium.

sd

The Owl - 10 Mar 2006 21:30 - 231 of 418

You only need to be as patient as the >3% holders, Stockdog ;-)

Presumably Gartmore didn't buy >10% to wait 3 years for some payback, nor will Mr Wood expect to be sitting on a 107,500 loss (actually larger than that as he can't sell at the offer!!) less 5,000 per month he's losing in interest (@6%) ...for long.
He's racked up 122,500 loss in 3 months!!

The Owl - 13 Mar 2006 19:13 - 232 of 418

Patriot up 40% @ 38c

chrissie - 14 Mar 2006 13:34 - 233 of 418

Owl

Please tell me some good news.

Getting a bit depressed about the sp. It's bad enough when it doesn't rise but when it goes lower ......I just cannot understand why?

chrissie - 14 Mar 2006 14:49 - 234 of 418

Got in touch with Bankside and spoke to Micheal Padley.

All si well!

1. NIM have plenty of work but have had a problem because of shortage of welders, they are presently recruiting more welders so problem will soon be rectified.

2. They will probably issue a trading statement in early April.

3. Results for year end 31stMarch will hopefully be published in June this year. (we had to wait until Sept last year).

4. Patriot going from strength to strength (his phrase not mine).

So all in all things seem to be going okay and we will have to be patient. MP said things looking very good indeed, from April onwards.

I know a lot of ths has been posted before but I'm thinking of newish investors etc.

The Owl - 14 Mar 2006 18:37 - 235 of 418

Can give you more excellent news re Korea, Chrissie.

I've forwarded to your email.
Though unfortunately the sp can only respond if people buy.

The Owl - 17 Mar 2006 00:46 - 236 of 418

Keep eyes peeled on two co.s.
One begins in H and makes cars!..also rigs/drill ships
The other S stereos & TV's ...also rigs/drillships
DYOR

The Owl - 18 Mar 2006 10:20 - 237 of 418

Hyundai & Samsung - Korean Heavy Industries.

The Owl - 21 Mar 2006 22:10 - 238 of 418

By my calculations, Mr Wood has now been paying the company over 8k to come to work each day if averaged over 28 months - a grand total of 234k!!

That's a huge incentive to sort the situation out as this increases at c4.5k per month, or average 148 for each of the 28 months.

How long this situation is sustainable is anyones guess. Even if I had 25m, I'd not want to be loosing an increasing close on 10k per month and effectively paying the company I work for to work for them!

The Owl - 27 Mar 2006 19:21 - 239 of 418

Someone loves GME, big rise & volume around lunchtime from 18.25 to 19.50.

This will be an interesting week.
But IMO we need to wait till after April 5th to see the real picture.

chrissie - 27 Mar 2006 23:32 - 240 of 418

Owl

As you say a nice rise today I was told by Padley that they hope to get a trading statement out in early April so fingers crossed.

The Owl - 29 Mar 2006 18:17 - 241 of 418

Chrissie, did he say when?
I got the impression they're waiting till after April 5th (so people can take capital losses). Those left after will be longer termers, so should be supportive of the price.

Topped up with 10k today.

chrissie - 29 Mar 2006 19:13 - 242 of 418

I think you are a very wise Owl for topping up. Padley didn't say exactly when but you're probably right about 5thApril.

chrissie - 30 Mar 2006 16:17 - 243 of 418

Owl

You got mail!

The Owl - 30 Mar 2006 19:35 - 244 of 418

Chrissie
So have you :)

stockdog - 31 Mar 2006 08:05 - 245 of 418

Well, not sure how bad is bad for 2005/06, but it does seem now to be behind us. As I wondered, a full order book does not necessarily translate into bookable revenues in the year in question.

Looking at next year's t'over of 20m on a gross margin of about 37.5% gives gross profit of 7.5m, less 5m oveheads and tax at 20%(?) leaves 1.6m net profit after tax. With approx 44,800,000 shares in issue at 19p, gives a forward PE of 5.32. If this should be nearer 10, rising to nearer 14 when the interim trading results prove the prospect, then the SP should nearly double over the next 6 months and then rise to somewhere approaching 50p by beginning of calendar 2007.

Assuming everything else remains equal . . .

sd

The Owl - 31 Mar 2006 22:52 - 246 of 418

Stockdog/Chrissie & anyone else who look in here,
you must read the whole research note - it's excellent.

'Bad' means 12m not 13m rveneues. 12m's not bad - it's nearly 3x last year. But it gets better. 2007 is not 17m, it's 20m (previously we'd have to wait till 2008 for that!!), it gets even better (and this is my favorite line in the note.

'potential current multi year orders could rise sharply to 50m'.

This is not ramping, this is objective analysts who met Wood earlier this week and who live or die by the quality of their analysis.

All in all it's great news. They've been transparent by issuing early guidance (never before), they've announced early issue of results (never before) etc

Here's the link (you may need to sugn of free account):

http://www.edisoninvestmentresearch.co.uk/

Technotamed - 02 Apr 2006 08:44 - 247 of 418

This may have been posted already but here is the link anyway:-

http://www.oil-barrel.com/advisers/hardman/GME_March06.pdf

stockdog - 02 Apr 2006 11:12 - 248 of 418

Thanks Technotamed - great note. Reminds me of that song:-
Catch a falling knife
And put it in your pocket
Save it for a rainy day

Well it's raining and the ducks are loving it!

Looking ahead to 2008, somewhat prospectively rather than P2 as you might say.

Turnover 30m ??
Margin 40%
Gross profit after D&A 12m
Overhead/Net Interest, say 8m ??
Net profit 4m
Tax @ 30%
Profit after tax 2.8m
EPS 6.25p
EPS Growth 41%
PE 2 years forward 3.12
PEG 0.08

If reasonable PE 1 year forward is 14, then at EPS 4.41p for 2007, suggests an SP of 61p

If reasonable PE 2 years forward is 12, then at EPS 6.25p for 2008, suggests an SP of 75p

From 19.5p to 75p over two years is 96% p.a. compound growth. On a share that we now know so well, with a proven management that have turned it round into a profitable business selling into a ravenously growth market - that's good enough for me.

With my average buy price at 48p over the last year, I can't think of a better place for my money, or coincidentally where the emotions will be so satisfied.

Time to top up, if I can get in quick on Monday morning.

sd

chrissie - 03 Apr 2006 19:08 - 249 of 418

All I need is another 60 days like today! Definitely feel as though bad days are behind us.

Pommy - 04 Apr 2006 11:29 - 250 of 418

full price being paid now after more institutional buyin recently!

The Owl - 05 Apr 2006 22:45 - 251 of 418

Long may it continue.
By my reckoning, there should be about 37m shares left.
Sounds a lot but free float on sector leader Abbot is 19M, and they're 16x the price, and 8x the p.e.

If GME gets to 60p, then on current order estimates ending Mch 06 it's PE is only 4.5!!
Goodness knows what it is now - about 0.9 I think - now that is cheap!

The Owl - 06 Apr 2006 22:11 - 252 of 418

Well, I'm gonna take a break for the Spring. Nothing more to say really. Will pop back occasionally during late Spring. Managed to get average down to 36p - just 2.9p more than Woods 33.10p. 2005 is past, and (except for GME), I think it's been a 2nd profitable year.

Re GME, looks like upward momentum should ensue with so many insti's on board & now so few of us PI's - I can only see Barnard & possibly some Goldman clients selling under the 50p-60p mark, and Barnard is not really significant anymore - given Gartmore's huge 17%. We could see Noble also adding again soon, and even maybe UBS :-) . The chart looks like it could trend fast if we get past 30p - not many PI's to sell, and instis will hold long and far IMO..be surprised if less than 5x will do for them.

There's little chance of further placings given GME seem to have a rolling 'as needed' credit facility with RBS, and can use some of profit to finance new orders. The industry is extremely tight - absolutely no slack at all.

With 19m in orders & carry through of delayed sales+rising rig rates yet to be reflected, we will see profits at the interims (pretty definite), and for the following 2 years - no reason to doubt analysts, and Wood will want to see Sept 2007 75p options expire profitably.

Profitable co, PE of 4.5 at 61p - so I think very very cheap right now, and none of the potential reflected in the price!! Of course, lots of clever stuff could be done to raise the price too - e.g. with PMH OTC stock, further consolidations etc.

To me now at last GME/PMH really is a very worthwhile investment. I've even tipped it to a friend- only the second stock to have done that with in 4 years after SEO ...so I'm probably about 9 on the 0-10 scale of being bullish. Few other places I'd want to have a similar position right now...and I think I'd pay 1.10-1.20 to reflect 2007/2008 50m potential orders for this if offered. I think 2.50 would be too expensive though.

Good luck to all holders...we have all the odds on our side finally.

All IMO & DYOR

stockdog - 06 Apr 2006 23:16 - 253 of 418

Owl

Thanks for all your posts and enjoy the nesting season - see you when they've hatched.

If you are a SEO and a GME man, you should also look at DGT - I'm sure you'd appreciate the fundamentals I have been posting on that thread recently.

sd

The Owl - 17 Apr 2006 23:16 - 254 of 418

Oil sticking above $70 - should be good for GME/PMHH.
I'm hoping to build my SIPP soon as funds get in account.
Unfortunately takes days as trustees have to clear them first!

The Owl - 18 Apr 2006 21:24 - 255 of 418

Oil now over $71 !

The Owl - 19 Apr 2006 19:16 - 256 of 418

Schroders have bought 10.10%.

The situation is now about as follows:

GME Share Total 44,786,730 - A

Goldman (Noms) 5.28% 2,365,000 - Clients buy @ 22p-27p (still holding? - probably)
Gartmore 17% 7,612,498
Shroders 10.10% 4,525,000
MDB 3.68% 1,650,368
Amvescap 3.74% 1,660,000
P Wood 7.90% 3,537,683
UBS 4.47% 2,758,559
Noble 4.46% 2,000,000
CHI 3.72% 1.665,000
CAML 3.52% 1,575,000
Staff (Ex Wood) 0.5% 218,800

At 19 April, Total 'Fixed' = 64.37% = 29,567,908 - B

Est 10 PI's 25k Invested (100,000 shares) 1,000,000
PI's 100 PI's 10k Invested (40,000 shares) 4,000,000
-------------------
ASSUMED 'OPEN INTEREST' BY PI ~11% 5,000,000 - C

So A-(B+C) = 10,218,822 shares left !! - Only 23% of the company

Now there are 7MM's - leaves 1,459,832 per MM

(NB these figures DO NOT include Companies holding)

Guy's (& dolls), we're currently in a fabulous position after Schroders

Spectrum7 - 19 Apr 2006 21:29 - 257 of 418

Tomorrow will be interesting, think the news was after the bell today was it not ?.......nice thread owl :-)

The Owl - 19 Apr 2006 23:02 - 258 of 418

Cheers, Spec - wondered where I was for a moment there ;)

The Owl - 20 Apr 2006 01:02 - 259 of 418

http://www.growthcompany.co.uk/market-research/people/25269/new-goals-for-wood.thtml

Spectrum7 - 21 Apr 2006 16:33 - 260 of 418

broker buy , 225k at full offer price :-)

The Owl - 21 Apr 2006 18:20 - 261 of 418

Beat me to it Spec - 2 huge end of day buys.

L2 after hours trades - most not appearing on usual software.

These are trades & times after 4pm (as listed on L2- descending i.e. latest is first):

16:11 10,000 23.75 O
16:03 320,000 23.92 O
16:03 37,500 23.92 O
16:02 25,000 23.00 O
16:02 257,500 24.00 O
16:53 50,000 23.00 T
16:34 257,500 24.00 X
16:20 225,000 23.96 B
13:37 9279 22.65 O

Excellent! - something big has to be coming with 10 insti's in 3 months with no recent orders, and statement & analysts saying loss will be wider & sales a bit worse than expected. E.g Schroders - you just don't put 10% (over 1m) into an AIM company under those circumstances. Thats 10 insti's at least buying in 3 months - many well over 3% i.e. not even scaling in! Certainty or madness - if certainty, they won't want to wait till 2007/2008 results to see a reward IMO.

The Owl - 24 Apr 2006 19:06 - 262 of 418

Good spread moves today - even a 25p trade.

The Owl - 25 Apr 2006 19:03 - 263 of 418

Another 5% rise - touched 26.50.
Probably hover here for a bit, but not far short of the 30p mark, after which we should see a breakout.

Coupla big buys or some news would do it.

The Owl - 26 Apr 2006 21:41 - 264 of 418

'Nother good close & big trades going through.

GME have 10 instis holding 60% with a free float of c23M

By comparison Abbot (best in sector) have 4 instis holding 70.3% with free float c18M

The Owl - 27 Apr 2006 20:30 - 265 of 418

1-4th May

http://www.otcnet.org/2006/

Huge exhibition - all clients are there.

http://www.marinelink.com/Story/ShowStory.aspx?StoryID=202880

The Owl - 29 Apr 2006 20:33 - 266 of 418

Hang in there for news.
Expect something this week.

The Owl - 01 May 2006 10:09 - 267 of 418

http://www.otcnet.org/2006/

Starts today - 1 May!

Expect deals soon.

Pommy - 04 May 2006 15:25 - 268 of 418

Shrouders upped by another 475k.

Owl
Looks like you and me will be the only non institutional holders left soon!!

capetown - 04 May 2006 15:50 - 269 of 418

AND me

sidtrix - 04 May 2006 16:08 - 270 of 418

and me... small lil holding thou...

The Owl - 04 May 2006 20:12 - 271 of 418

I'm still adding Pommy.

If there's what I hope coming, there's probably 8-10 weeks to see it happen.
After that, GME & PMHH will rise to their true value - i.e. no longer at this huge discount on forward 4.6 PE

The Owl - 06 May 2006 09:09 - 272 of 418

Patriot Mechanical Handling Signs Exclusive Marketing Agreement With EMCE
Friday May 5, 10:49 am ET

Patriot to Represent EMCE Winch/Hoisting Equipment Throughout the Americas

HOUSTON, TX--(MARKET WIRE)--May 5, 2006 -- Patriot Mechanical Handling, Inc. (Other OTC:PMHH.PK - News), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that the company has signed an exclusive agreement during this year's Oil Conference in Houston, Texas, with EMCE a Netherlands-based manufacturer of winches and hoisting equipment. The agreement provides Patriot exclusive marketing rights to EMCE's product line in North and South America for a two-year period.
Paul Findlay, CEO of Patriot, stated, "We are very pleased to represent EMCE's line and believe their entire range of quality products are not only complementary to our offering, but they also support our strategy of providing complete packaging of equipment for mechanical handling solutions to the offshore drilling industry." He added, "We are now aligned with a number of companies, including EMCE that will allow us the ability to compete in a broader market while addressing our clients who require a total package."

EMCE has over 40 years experience in design, engineering and manufacture of winches for numerous markets. EMCE product advantages include optimal simplicity, efficiency, compact size, quality, performance, customization, durability and safety.

About Patriot Mechanical Handling

Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose.

More information is available by contacting the company directly. Information is available on the web at: http://www.patriotmh.com.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

The Owl - 06 May 2006 09:10 - 273 of 418

So why do we need NIM (the reason for losses etc) now?

NIM is profitable. Could it be sold (e.g. to EMCE) to remove big fixed cost, staff, buildings etc.

The Owl - 06 May 2006 12:29 - 274 of 418

Oilfields firm set fair with 20m in orders
By Mark Casci
A Shipley oilfield services company which does business all over the world has announced nearly 20 million worth of orders this year.

Global Marine Energy has contracts worth 19.4 million on its order book for the next 12 months.

The firm has acquired 10 million worth of new business since November alone and expects to announce a series of contracts in the coming weeks.

The firm has its headquarters in Shipley, where most of the design and engineering planning is done. The manufacturing is then done at its bases in Houston, Texas; Brazil and Singapore.

Finance director Andrew Gibson said: "95 per cent of our design work is done in Shipley.

"The majority of our business is done in the offshore oil and gas industries.

"Some of our business also involves producing access equipment such as doors etc for nuclear submarines and the Ark Royal.

"We turned over 12 million last year and are hoping to turn over 20 million this year."

The current contracts that the firm is working on are based in Brazil and Malaysia.

The firm was founded in 1988 and now employs 250 worldwide, 45 of whom are based at its Shipley headquarters.

The company was listed on the Alternative Investment Market (AIM) in 2001 and was restructured into two separate divisions in 2003, following the appointment of new chairman Philip Wood.

Patriot provides handling equipment to the offshore oil and gas industries while NIM Engineering ltd provides marine access to the gas and oil industries.

The firm, based on Wharf Street, changed its name from MOS International last year.

The company made the announcement of its new business contracts following a downturn in profits last year.

The losses, caused by extensive restructuring at the company, were overcome in the final quarter of the year up to March 2006 as the firm looks towards a brighter financial year.

Mr Wood said: "The year to March 2006 has still been one of substantial growth and, most importantly, the company has returned to profit in the final quarter."

e-mail:mark.casci@bradford.newsquest.co.uk

4:17pm Tuesday 4th April 2006

The Owl - 07 May 2006 14:26 - 275 of 418

Checked with Management.

NIM are full, so they've had to get EMCI in to help supply new 'drilling packages'

The Owl - 08 May 2006 18:31 - 276 of 418

Here we go...

Patriot Mechanical Handling Announces $8.6 Million Marine Deck Crane Order From China National Petroleum Offshore Engineering Co, LTD
Monday May 8, 11:11 am ET

Order Represents the Fifth Contract Signed With Chinese Energy Producers Over the Past 12 Months

HOUSTON, TX--(MARKET WIRE)--May 8, 2006 -- Patriot Mechanical Handling Inc. (Other OTC:PMHH.PK - News), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has received an order valued at $8.6 million USD from China National Petroleum Offshore Engineering Co, LTD. The order is for 8 marine deck cranes, spare parts, training and commissioning of the equipment. Training will occur in the Patriot facilities in Houston, with the cranes being delivered to Xingang Seaport, China, upon completion.
"We are making tremendous inroads in China, having secured multiple orders over the last 12 months, including this latest order for China National Petroleum Offshore Engineering," stated Paul Findlay, CEO of Patriot. "The growing demand for fossil fuels in China makes this country an important market for Patriot. We will continue to develop our relationships and expand our efforts not only in China but throughout the Far East."

About Patriot Mechanical Handling

Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose.

More information is available by contacting the company directly. Information is available on the web at: http://www.patriotmh.com.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

Contact:
Contact:

Patriot Mechanical Handling, Inc.
Tel: 281-445-4745
Fax: 281-445-9839
E-Mail: Email Contact

Global Marine Energy plc
Philip Wood, Chairman
Tel: 01274 531 862

Capital Group Communications Inc
(415) 843-0200 office
(415) 843-0214 Fax

jatin207 - 09 May 2006 15:12 - 277 of 418

Dear Owl,

I cannot see the $8.6M contract won by PMH. I looked at LSE and Digital Look. Where did you see this posting?

The Owl - 09 May 2006 20:09 - 278 of 418

Jatin,
it's under
http://www.patriotmh.com

or on yahoo

http://finance.yahoo.com/q?s=PMHH.PK&d=t

Hope this helps.

I contacted the PR & Advisers today. they should have released the news but didn't and it's caused a lot of trouble. Hopefully they'll fix soon.
818,000 shares today, so clear news is getting out.

Spectrum7 - 09 May 2006 22:27 - 279 of 418

Owl
I have had to abandon the other thread. Will join you on this one if thats OK and hope that AM do a better job of running their threads than ADVFN. I am afraid i simply cant be bothered with the idiot over there anymore. Do you think we could get the others to join us over here ?

Pommy - 10 May 2006 06:08 - 280 of 418

been here for ever Spec!!

Pommy - 10 May 2006 07:22 - 281 of 418

Still no UK announcement for the PMHH deal.

Its an absolute fucking disgrace.

Time after time there is price sensitive information for the this company that is not announced on AIM.

I wouldnt be suprised to suddenly find Wood and his mates take all the stock from the instis for about 35p and make an ofer for the company as a MBO at 35-40p!!

It would give him a nice little profit on his own investement and control of GME on the cheap.

And just like with the masive dillution he has created the PIs would have no say at all!

What a scam. Issue loads of stock to the Instis with an agreement to buy it back and give them a guaranteed profit, Hide as much news as you can for as long as you can so the instis can gather up all the loose stock as PIs get bored and sell coz the SP aint going anywhere. Eventually there is over 90% held by the instis and the offer is made THAT YOU CANNOT refuse, not coz its good, but coz if you dont accept they will take you shares at THEIR price anyway!

Theres a long game going on here and its not in the PI's best interests!!

Pommy - 10 May 2006 07:24 - 282 of 418

OWL, can you email me Padleys email address i dont have it here!

Spectrum7 - 10 May 2006 07:26 - 283 of 418

Hi Pom......
In the place to be :-)

Spectrum7 - 10 May 2006 07:30 - 284 of 418

michael.padley@bankside.com

stockdog - 10 May 2006 09:24 - 285 of 418

Pommy - have you looked under the bed lately? It's even scarier!

Pommy - 10 May 2006 09:40 - 286 of 418

instead of making stupid sarcastic remarks why dont you address my post like an adult.
there is something not right with what is going on.
Most Companies would be over the moon to RNS news like they have had here.
Why do they continually refuse to RNS stuff?
Why despite continual insti buying is the price not considerably higher?

IMHO the directors are talking the stock down! And theres a good reason for this!!

sjtee - 10 May 2006 10:39 - 287 of 418

Sounds like a job for shares magazine! If you are right the publicity will do it no harm. Cannot see institutions standing for an MBO though, given how many are now on board.

Pommy - 10 May 2006 11:23 - 288 of 418

given they got in at 17p an MBO at 35p would not be too much of a worry

100% return in 6 months!!

no wonder it was so heavily oversubscribed

Michael Barnard himself told me they only took the stock at 17p to sell into the after market at a profit to make up for the losses they had incurred on an earlier investement they had made in GME!

Spectrum7 - 10 May 2006 18:05 - 289 of 418

Pom
You could well be right......but then so could any of us......the bloody crime is that we are left to second guess. It could be the best thing since sliced bread or...um...not...Fact is, we haven't a bloody clue......thats the AIM for you :-)

Pommy - 10 May 2006 19:36 - 290 of 418

i see more news out in the USA hat won be announced in the UK

its a fuckin joke!!

Spectrum7 - 10 May 2006 23:10 - 291 of 418

Owl

I think, for what its worth, GME/PMH keep the institutions updated and thats why they are keen, they are in the know. As for the PI's, I think GME/pmh see us as a necessary evil and an rns cost money to issue.
The PI's at best, just cause instability in the SP. They add an unwelcome volatility to the markets and we just cause them hassle with out BB's, E-mails and guesswork !
We will get to find out in the end, one way or another, thats the gamble. I have been caught like this before, last time i stuck it out and lost the lot as they declared themselves bankrupt......despite a full order book and a load of rosy RNS issues......
Incidentally, the management brought the company back off the receivers for a pittance and were trading again within 6 weeks , minus the PI's and the debts.....(CRT)

I will stick this one out as well but am now wondering if i will see my 38p break even point ?.......

The Owl - 11 May 2006 22:00 - 292 of 418

michael.padley@bankside.com
susan.scott@bankside.com
adam.westcott@noblegp.com
or try Derrick Lee.

Pommy - 12 May 2006 07:13 - 293 of 418

Another day goes by and they continue to ignore the rules

The Owl - 12 May 2006 07:36 - 294 of 418

Spec,
Did CRT have lots of institutions & a major staff holder?
Let's imagine GME did take on too much debt, I think UBS, Gartmore etc would simply form a consortia to buy out the company, sell the debt in the financial markets and sell the company on for it's contracts, yards, staff & assets.

Could they realistically do this ? I think so as the industry is booming and GME equipment & skills can also be used in other industries, nuclear, ofshore wind etc

I was wondering with just 20m-25m shares tradeable, whether they'd attempt another consolidation?
It would leave just 200,000 shares left in the hands of 5MM's! - only 40,000 each. Now if they want to get rid of us PI's, that may be a way to do it.

Pommy - 12 May 2006 07:54 - 295 of 418

why would it get rid of us?

holders of odd amounts would lose a few shares, but anymore with multiples of thousands wouldnt be affected

100,000 shares at 27p

would become 1000 shares at 2700p!!

Spectrum7 - 13 May 2006 12:32 - 296 of 418

Another consolidation would leave these virtually untradeable in my opinion.

The PI is the guy that stumps up the cash to take a company to the point where an institution might take notice, after that the PI is a pain. A pain to keep informed, with events and results, and actually cost the company money. The SP can double overnight on a rumour on a BB ! this kind of volatility does a company no good at all. Maybe if the investors here sat back and let the company do their thing over the next couple of years, the company might see us as a form of institution in our selfs but if we e-mail/text/phone them on a daily basis I can see why they would want shot of us. This was always going to be a medium term recovery gamble and i think we maybe look to hard , on a daily basis for the changes that are more likely on a quarterly basis....The important SP will be at your exit point in 2007/08 not next week or at results ;-)

The Owl - 13 May 2006 12:47 - 297 of 418

:

The Owl - 14 May 2006 15:02 - 298 of 418

:

The Owl - 17 May 2006 01:36 - 299 of 418

2006-2008 orders = 52m (75m potential)
2006-2008 Patriot W/cap needed (assume 40% margin)=60/100 x 75/3=15m py

Profit est. (Edison) 7m-10m total 2006-2008 = Avg 3m py.
Net funding required = 12m py

Assuming 20% tolerance - How will they fund?
(E.g v.sucessful share placing at deep discount raised 4.75m cash plus RBS??)

Would RBS give them more than 5m pyr = 15m to be repaid by 7-10M profits less interest? Nope.
Can current management take on the risks of these order sizes? IMO Nope

IMO Take-over/merger is ONLY way. It will need to be very soon too
as without it, no more significant orders as they'd need to have a plan to fund them, yet obviously Patriot are still expanding.

The sooner, the better. Rowan is best choice yet IMO.
2 FD's will reach same conclusion soon enough (if not already).

Just my opinion - DYOR

The Owl - 18 May 2006 07:30 - 300 of 418

Morning all

Normal Hours:
Mon 70,127 sells
Tue 107,507 sells
Wed 463,210 sells

Total Vol 640,844

Wed After Hours - 4x 200,000=800,000 Buys

Someone disagrees with GME fall & what market will do next.

The Owl - 18 May 2006 19:17 - 301 of 418

Bought a few more PMHH.
May be back later or end of tomorrow to pick up another 10k.

Quotes - it's a very good entry now (if you can fix a mental stop at 10-15c), as buyers have now all sold.

The Owl - 19 May 2006 22:32 - 302 of 418

The Return of Owl's Saturday Missive! :-)

By the way, no answer yet re who funds SourceOne.

See link below - very interesting Chinese links, also last year SourceOne was (may still be) very close to signing up a full rig!

You want page 12

http://www.rowancompanies.com/pdf-files/404Grapevine.pdf

I know it's not been mentioned in the UK, however I think SourceOne may turn out to be THE IDC REPLACEMENT IN A MUCH BETTER FORM. It's been very understated so far. No one apart form me I think has shown interest in SourceOne - only that US news generally hasn't made it to UK.

This is all my DYOR & not from any other source, so be tolerant if I have some details wrong here. Lots of others know the engineering industry much better than I do.

There are very few rig package suppliers. Although Patriot can put together most of it, a company wouldn't/couldn't just go to Patriot due to demands of clients, and demand for the bits. I'll try to explain...

Clients are getting more demanding, yet timescales go way out, and clients don't want to go to lots of suppliers. They want choice but one supplier. In the rig world they want an IKEA rather then visiting DFS + CarpetWorld+Curtainworld+Cabinet world+++ with all the contract issues etc that would present.

We all know the problems of building a house extension, and co-ordinating plumbing, electrics, plasterers etc - many choose an architect instead, and offload the hassle.
In the rig world, there the oil majors are loaded so an 'architect' extra costs are irrelevant - its' all about who can deliver fastest & highest quality.

Few suppliers provide packages, Patriot is one of the top 3. Even they though cannot do some parts of the package as they could e.g. before they could go to NIM for winches - not any more. This is why they now have EMCE as an exclusive provider of rigs - offsetting NIM non-delivery risk.

By the time they've found a supplier, they find that supplier cannot deliver for 2 years! Also, they may have found a lower quality supplier than they'd like.

Their client, wants a rig-set in a few months to a year. It doesn't want good quality maintenance free cranes, but have safety issues, or break downs in the winch department! . Enter SourceOne - an alliance of companies who already have all the bits needed, and can conform not just to an industry standard, but to their own.

In the Car world a SEAT may have a VW engine, but it doesn't have VW standards etc for the body, safety aspects, dealer show-rooms, finance deals/terms etc.

This means a client can just ask for SourceOne Alliance to provide a rig-set. SourceOne knows it's members, demand, supply etc bit like a 'virtual company', so can make a commitment to a contract & delivery plan in a way Patriot & others simply cannot.

This is very important strategically, because if Patriot currently tries to put together packages in a 'high demand' market, then it will struggle to commit to timescales for the client these days. There are loads of rigs being built - Rowan themselves have orders for 12 yet no contractor to deliver (see Rig Status), and we all know Keppel's issues. It's the same across the industry, so skeleton rigs eventually get built, but then the equipment they need cannot be delivered - so the rig is pretty useless!

E.g. PMHH can get the cranes, BOP handling gear together in a few months, however the winches will not arrive for a year+.

Hence, they can either buy BOP etc now (using valuable capital), wait for two years then get the winches, then sell the whole lot to the client,

OR they can wait till the winches arrive, then buy the BOP handling etc by which time the BOP supplier has grown frustrated at the wait, is using up valuable yard storage, and has sold to a client who can pay now. Patriot can have the next BOP that''s delivered etc. Hardly a good solution.

OR they can (via SourceOne), get all the bits in six months or so from alliance members. This avoids tying up capital for members, risks of non-delivery, and potential payment/creditor problems, and saves time, yard space etc as there's just one contract - with SourceOne.

So the advantages of SourceOne are:

- Faster delivery of rig set,
- releases yard storage
- One contract
- Quicker payment from client, and from SourceOne to supplier
- Lower financial/working capital risk
- Reduced risk of non-delivery e.g. on big contracts (risk is shared where before Patriot would have stood in SourceOne's position)
- Consistent standard of equipment
- Greater choice of equipment & options on that equipment
- For the client, reduces risk one of the members may suffer cashflow issues. SourceOne can either substitute another member or provide more cash, or get two alliance members (similar standards, values remember) working together.

But I still do not know for sure who funds the package.

I think such a contract would have to be with SourceOne directly. Either Le Tourneau or Rowan might provide a float if needed, or alternatively flexible supply terms would be agreed to meet the package delivery aims.

It's crucial IMO we understand SourceOne and it's potential. It resolves many of the funding issues etc we've discussed on Specs BB, and until told otherwise I believe this may be the IDC replacement we've been waiting for.

If it's not, can anyone make the argument why they'd now need an IDC if they have funding from RBS bank facilities+cash+SourceOne funding+ profits?

There was one DIRECT reason why GME fell last Feb 2005 from 1.20. That was funding. It was funding that caused the placements, funding that caused turnover to be missed, funding that meant no contingency when restructure costs were more than expected. IF (and accept it's a big IF) SourceOne solves the funding problem (in the way IDC was meant to have done), then we own a company which has tremendous & unconstrained prospects.

Pommy - 24 May 2006 07:07 - 303 of 418

So Wise one

what do we make of this?

CEO based in the US? Or is he moving back? Or are we moving towards cancelling the UK listing in favour of a US listing?

Global Marine Energy PLC
24 May 2006

24 May 2006

Global Marine Energy plc

Appointment of Chief Executive

Global Marine Energy plc, ('GME' or 'the Company'), the oilfield services
company, announces that Paul Findlay, the current Chief Executive of Patriot
Mechanical Handling, GME's US subsidiary, will take over as Group Chief
Executive with immediate effect.

Philip Wood becomes Executive Chairman and Stewart Wild steps down from the
Board with immediate effect.

Philip Wood commented:

'The appointment of Paul as CEO of the Group will help us to continue to drive
the business forward. Paul has a proven pedigree and the Board believes he is
the correct individual to lead the business, especially during this period of
high growth.'

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Adam Westcott, Noble & Company Limited 020 7763 2200

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

The Owl - 09 Jun 2006 00:35 - 304 of 418

Not much happenin ...yet...

Here'ss your clue how Global will do...
http://www.source1drilling.com/links.htm

Pommy - 12 Jun 2006 12:45 - 305 of 418

OWL, another placing!!!!

FFS!! How much money do they need!!!!!?

Spectrum7 - 12 Jun 2006 17:26 - 306 of 418

This placing comes as no suprise.....why should it ?? weve had enough of them !!

But....why now at 15p and not last month at 20p-25p ?
Why the total lack of PR with the news ?
What were the facilities set up with the bank for ?

This management need to do some serious explaining or lose the confidence of the PI completly..IMO

Seems to me we have been pissed on from a great hight.....again :-(

The Owl - 12 Jun 2006 23:25 - 307 of 418

Think we just have to hope Paul Findlay can take the reigns and make the three important phone calls.

Pommy - 13 Jun 2006 07:49 - 308 of 418

Is one of them to GOD?

The Owl - 16 Jun 2006 22:38 - 309 of 418

Think they're striking while the iron's hot.

If their 3 year business plan was financed, this will be extra cash.
They have 4.75m from Jan placing+4.0 (June placing)+RBS facilities (2m??)+ profits from completed work - total of between 10m-12m.

I guess the price could have been raised (e.g. back to 27p) then do a placing, Spec. however, it would just fall back again once placing announced.

Better to get it out of the way, knowing there are several institutions now with Open Interest at the 15-17p level. Cannot imagine they'd have a need for any more till the share price goes well over 50p. Even if they did, would the instis now let them dilute the big guys - be very surprised if they did!

Will probably go to the EGM to see what the questions are. Would be good to catch up as I'm working in Leeds currently so 12pm is no problem.

If orders are to be c20m for 2007, and they can deliver 40% margins, there should be a return within a year on the placings. Let's see.

Small buy today of 5000 shares. I'm hoping to add 15k more over next few weeks before July placing. Need to move a few monies first though. Wondering if any PI's are left in this thing!! Blimey - need a sense of humour ...

Have a good weekend.

jatin207 - 29 Jun 2006 20:33 - 310 of 418

Is the end of year results out tomorrow? Anyone?

Spectrum7 - 29 Jun 2006 22:43 - 311 of 418

Should be !

The Owl - 29 Jun 2006 22:52 - 312 of 418

July 5th - EGM day, 7am I reckon.

Later is better as just 10-12 weeks to 2007 half-year profits.

The Owl - 07 Jul 2006 18:36 - 313 of 418

THREAD CLOSED - PLEASE FEEL FREE TO START ANOTHER

The Owl - 13 Aug 2006 19:14 - 314 of 418

11 Aug - Audited results show sales 4.76m rose to 11.2m (7m since interims) under Mr Findlay, CFO Mr Baer (Patriot), Mr Gibson (New Finance Director appointed in Jan)

Previous RNS gives order book at 24m in July with 'in excess of 3m' delivered in first 2 months of 2007 Financial year. Net cash 4m following placing.

canary9 - 13 Aug 2006 19:27 - 315 of 418

I believe one can only sit and wait with this company as they have not shown they can be trusted. Great prospects though and if they pull it off, the share price will rise significantly, but promises have not been fulfilled so far. Good growth area but financial management has been a problem imo. Perhaps new FD can get to grips with that.

The Owl - 14 Aug 2006 07:47 - 316 of 418

Global Marine Energy PLC
14 August 2006

14 August 2006

Global Marine Energy PLC
Orders secured totalling over US$9 million

Global Marine Energy plc, ('GME' or 'the Group'; stock code: GME), the oilfield
services business, announces that it has won orders totalling in excess of US$9
million from two companies in Singapore.

NIM Engineering Limited has secured a US$2.7 million order from Baker Marine for
anchor winches, whilst the US subsidiary, Patriot Mechanical Handling Inc, has
received orders totalling in excess of US$7.2 million from PPL Shipyard Private
Ltd ('PPL'), for pipe handling & drill floor equipment, and Neptune Marine Oil &
Gas Limited ('Neptune'), for handling and drilling products. Delivery of all
these orders is scheduled for 2007.

PPL is one of the world's leading rig manufacturers, with a number of
subsidiaries offering a range of services to the international offshore oil
industry, including Baker Marine, a specialist in jackup rig technology. PPL's
rig building activities are centred at its Singapore yard; to date these
facilities have fabricated over thirty rigs of various types and sizes.

Neptune is an emerging drilling contractor with an experienced management team.
It is aiming to become a major, quality offshore drilling contractor, focusing
on drill-ships and other mobile offshore assets within the Mediterranean, the
Black Sea, the Middle East, India and South East Asia markets.

Paul Findlay, Group CEO of Global Marine Energy PLC, commented:

'We are continuing to make progress in expanding our client base and in
developing relationships with the world's leading rig manufacturers. The orders
from Singapore are the culmination of several months' work and I am confident
that our team can build upon this and that we can continue to expand and grow
the Group worldwide.

'As an independent niche supplier to the oil industry, we have the opportunity
to increase turnover rapidly and to grow our market share in an expanding
marketplace.'

'The recent placing has put the company in a much stronger position to win
orders in the future, as has been shown with this set of orders. The stronger
balance sheet and additional cash have enabled us to fund the working capital
and performance bonds required to secure such orders. This fundraising has
enhanced GME's position in our market and we would like to express our thanks
for our shareholders support.'

For further information please contact:

Paul Findlay, Group Chief Executive, Global Marine Energy plc 01274 531 862

Mark Froggatt, Noble & Company Limited 020 7763 2200

Michael Padley / Susan Scott, Bankside Consultants 020 7367 8888

This information is provided by RNS
The company news service from the London Stock Exchange

kaysmart - 14 Aug 2006 08:40 - 317 of 418

A promising announcement.
Looks as though fortunes are on the turn.
If the Company problems are indeed in the past then this is an exceedingly attractive level to buy in at.

mcmahons - 14 Aug 2006 09:08 - 318 of 418

9 million contracts in Singapore for Global Marine Energy

Global Marine Energy PLC oilfield services provider has won 2 contracts worth over 9 million. i.e Shipyard Pte Ltd and Neptune Marine Oil & Gas Ltd.

News of 14/08/2006

kaysmart - 14 Aug 2006 19:18 - 319 of 418

For the bulls among you:

http://www.britishbulls.com/StockPage.asp?CompanyTicker=GME&MarketTicker=Oil%20and%20Gas&Typ=S

Might have to top up tomorrow morning !!!!

The Owl - 14 Aug 2006 19:28 - 320 of 418

http://www.edisoninvestmentresearch.co.uk/

Released today. A really fair piece of analysis, and shows what GME can do. Some very relevant bits of info in there too. Apparently, on pe of 3.0 for 2007!! - a must read.

Can they do a profit in H1 2007? - now that is an interesting question.

lanayel - 15 Aug 2006 07:19 - 321 of 418

From the market report in today's Independent:

Global Marine Engineering, the AIM-listed oil services group, has attracted the attention of small cap traders in recent weeks after the stock fell to below 13p, valuing the company at less than four times 2007 earnings. Yesterday's confirmation that the group has won two orders worth $9.9m from Singapore helped the shares to bounce another 2.25p to close at 20.25p, and the rumour among traders is that there could be more good news in the pipeline.

lanayel - 15 Aug 2006 07:36 - 322 of 418

and also in The Times:

http://www.timesonline.co.uk/article/0,,748-2312997.html

Global Marine Energy, the oilfield services group, rose 2p to 20p on securing orders worth $9 million (4.8 million) from companies in Singapore. Its NIM Engineering division has won a $2.7 million order for anchor winches. Patriot Mechanical Handling, its American operation, has picked up a $7.2 million contract for handling and drilling equipment.

queen1 - 15 Aug 2006 12:42 - 323 of 418

"....rumour among traders is that there could be more good news in the pipeline." That'd be nice!

The Owl - 19 Aug 2006 16:07 - 324 of 418

It would :-)

Spectrum7 - 19 Aug 2006 17:49 - 325 of 418

conflicts with another thread that says GME would like to stay out of the spotlight now !!!..dificult if you have more news to announce as well ;-)

Personally i am all but speechless that a company like GME would want to be out of the spotlight.......excuse me while i go and pull my hair out !!!!

The Owl - 10 Sep 2006 22:23 - 326 of 418

Anyone going to AGM 11am 21 September, Baker Tilley offices, Whitehall Keys, next to station Leeds?

stockdog - 11 Sep 2006 11:06 - 327 of 418

Owl

Thanks for the new thread. Digital Look reports shares in issue as 71.38m compared to your 44.79. The difference appears to be the 27m issued in June @ 15p. Do you have any info on who the placees were and what the table of shareholdings now looks like?

Thanks

sd

The Owl - 11 Sep 2006 20:45 - 328 of 418

SD - good to hear from you again :-) I've edited the header down a bit.
Very quiet on this board these days. Don't even hear from Chrissie :-(

Here's the figures I have, however they differ from what's in the Annual report issued last month - a matter of timing I guess as Annual report has them 63% taken, and had ignored the large Cobra holding from August. Whereas these figures say 59% and include Cobra!! What's 50-60% between friend though..eh? Doesn't seem to be making much difference to the price which is what everyone cares about ultimately.

Shares in issue: 71,786,730 from 11/07/06.
Shroders. 11.06%. 7,940,000
Gartmore. 10.60%..7,612,498
Cobra Cap. 6.83%. 4,900,000
CHI........5.56%. 3,995,000
P Wood.....4.92%. 3,537,683
UBS........4.61%. 3,372,765
Moore CF...4.60%. 3,303,000
Amvescap.. 3.46%. 2,485,000
Noble......2.78%. 2,000,000
MDB........2.29%. 1,650,368
CAML.......2.19%. 1,575,000
Staff......0.30%... 218,800
------------------------------------------
Totals....59.65% 42,490,824

Are you still buying?

stockdog - 12 Sep 2006 10:26 - 329 of 418

Thanks Owl. Not buying more - already overweight at 12% of my portfolio, one of my big 4 holdings, although still in loss territory - av. price 32p :(. Although any break above the 200 dma should indicate a nice short term momentum opportunity to avenge previous losses.

The upside is to be in a company that has turned around, is now trading profitably with zero debt and positive cashflow (see below), has a large order book and is third (did I read somewhere ?) biggest in a sector that is definitely in a major cyclical upturn. From my oil explorer holdings, I know how short the world is of equipment to bring the stuff to the surface.

Can't see any downside, other than management telling the truth and delivering. Are they a trustworthy and competent team? Can they convert orders into booked revenue fast enough to grow profitability as expected? One discrepancy I cannot resolve in the final acocunts is the 5,683k negative cashflow from operations versus the 2,099 loss before tax - it's never healthy and usually a sign of accounting sleight of hand to have cashflow so much less than reported profit (loss). There is unfortunately no reconciliation between operating result and cashflow. Are you any the wiser?

sd

The Owl - 12 Sep 2006 19:14 - 330 of 418

My 'theory' (and it is just that) is NIM could have reported positive cashflow in the wrong year when they shouldn't have done, so GME had to take the hit in 2006.

This could be the accounting error they referred to, and may have a positive flip side if the cashflow is instead reported (correctly) in the following year i.e. 2007.

Andrew Gibson is used to dealing with a much bigger ship than GME being previously International Finance Controller of Cape. I'm sure he's well capable of optimising things with input from Kirk Baer of Patriot on hand.

Although it looks odd, they did report it in good time, and analysts seem to agree there's no impact on future deliveries.

I was also pleased to see Margin's are better than the 30% we'd been working on (now averaging 35 - 38%).

The Owl - 15 Sep 2006 18:37 - 331 of 418

Something seems to be happening. Yesterday 3,300,000 shares changes hands, and price subsequently rose despite overhang. Today another 3,000,000 at close & off market. AGM on Thursday 21st Sept. One to watch next week probably.

lanayel - 18 Sep 2006 10:06 - 332 of 418

the share price is motoring along today.

the AGM should be interesting !!!

Ian

The Owl - 18 Sep 2006 19:46 - 333 of 418

Over 7,000,000 shares changing hands in 3 days after very low volumes, seems to say so doesn't it?

lanayel - 19 Sep 2006 08:12 - 334 of 418

Good news today:

Global Marine Energy Plc, ('GME' or 'the Group'; stock code: GME), the oilfield
services business, announces that its US subsidiary, Patriot Mechanical
Handling, Inc. ('PMH') has won orders totalling in excess of US$9 million from
two Schahin Engenharia S.A. ('Schahin') subsidiaries in Brazil and Diamond
Offshore Drilling, Inc ('Diamond Offshore'), USA.

The US$7.2 million order from Baerfield Drilling LLC and Soratura LLC, the two
Schahin subsidiaries, is for 2 rig sets, comprising pipehandling systems and
drill floor equipment for new build semi-submersibles. The US$2.4 million order
from Diamond Offshore is for a pipe racking system and a BOP crane. These are
the first orders secured from either company by PMH.

Schahin is a major Brazilian corporation with operations in the country's chief
sectors of development: engineering, real estate development,
telecommunications, power lines concessions, oil and gas, finance and fleet
monitoring. Schahin Group's oil and gas division was created in 1982 to provide
specialized oil and gas well drilling and workover services.

Diamond Offshore, a leading deepwater drilling contractor, owns and operates one
of the largest fleets of offshore drilling units in the world. The company's
diverse fleet consists of 30 semi-submersibles, 13 jack-ups and one dynamically
positioned drillship. Diamond Offshore provides contract drilling services to
the energy industry around the globe and is a leader in deepwater drilling.

Paul Findlay, Group CEO of Global Marine Energy Plc, commented:

'We continue to expand our client base and to develop relationships with some of
the largest companies in the market. Further orders are under negotiation and
we expect to be in a position to announce these shortly.

'In order to manage the growth within PMH we have recently appointed additional
senior management.

'GME continues to go from strength to strength, with both divisions performing
well, and the Board is confident of increasing the Group's market penetration'.

Ian

The Owl - 19 Sep 2006 18:53 - 335 of 418

Thanks Ian. Great news.

If Hardman are right re GME o/s book of 27m start of Sept we should be up to 32m.
Edison say can fund up to 40m or so using the bonds.

stockdog - 19 Sep 2006 19:17 - 336 of 418

Owl

Good news indeed!

How long do you reckon it takes (on average) to turn an order into bookable revenue - if there is an answer to that question?

If less than a year, one can then take the orders o/s at end of last year, add new orders received during the year and subtract an estimated end of year balance to c/f to next year to arrive at an estiamte of revenues for this year. If longer than a year, the maths becomes a lot more complex, especially if some < and some > a year.

A good order book is one thing, turning it into cash in my life time is another.

However, have to say this company does look good at the moment. On fundamentals (PE and PEG, Margin and ROCE) we must be looking pretty good value. Only risk I can see, is management - turning orders into cash, quality of work to secure future orders and no hair-brained schemes to diversify or steal the funds. Can they be trusted?

When are interims due to be published - do we know yet? I hope well before 28th December as last year.

sd

The Owl - 19 Sep 2006 22:15 - 337 of 418

sd
Answer is 'Andrew Gibson' - International Finance guy at Cape.
They also now have a Marketing contact from Global Sante Fe ($47 NYSE share price) - he's still there under Sales, Sales Locations on GSF site (not yet updated).

Here's a Cape (CIU) 5 yr which might provide an encouragement. See Edison's note too re bonds. We wouldn't have these top management guys on board, nor would they have hired 45 staff to get to 220 on Rigzone from 175 in March, if they couldn't sustain the orders. They'll know the answers - just we don't - yet :-). The bonds allow 40m if Edison are believed, plus profits plus unused Cornell...Their competitors started small just like this. It's a tough road, but they should be ok now. They've shown they can do 11m in one year - whether on one, two or several is probably not too relevant as they live off stage payments if you get my drift...

big.chart?symb=uk%3Aciu&compidx=aaaaa%3A

big.chart?symb=uk%3Aciu&compidx=aaaaa%3A

The Owl - 19 Sep 2006 22:42 - 338 of 418

http://www.edisoninvestmentresearch.co.uk/research/category/Global%20Marine%20Energy

One other bit of encouragement...GME noted on Wall Street reporter.
http://www.wallstreetreporter.com/not_logged_in.php?error=2...search for GME.
There's also an 'event' on 5th December which may feature GME

The Owl - 20 Sep 2006 20:00 - 339 of 418

Nother 2.4M shares today including 2 x 900,000 buys. Volume getting very steep on this now as over 10,000,000 or 14% of GME traded in just a few days.

stockdog - 20 Sep 2006 22:43 - 340 of 418

Who are they buying them from, do you think?

stockdog - 21 Sep 2006 16:29 - 341 of 418

Terrific AGM report. 34m of orders onthe books fits with Broker forecast revenues of 21.78m for year to March 2007 and 36,10m for the following year.

Plus overhang of stock from Cobra and Moore Credit Fund now removed.

Nice 1p rise today breaking above the 20p resistance and just touching the 200dma. ROll on the golden cross if we can sustain this momentum for a week or so.

sd

RNS Number:2830J
Global Marine Energy PLC
21 September 2006

For Immediate Release 21 September 2006
Global Marine Energy PLC

AGM Statement

A year of progress
Further new orders secured totalling $10 million

At today's Annual General Meeting of Global Marine Energy Plc ("GME" or "the
Group"), the oilfield services company, the Chairman, Philip Wood made the
following comments:

"The last year was one of solid progress and achievement and that has been
carried into the new financial year.

"I have pleasure in announcing that Patriot, our US division, has secured
additional orders, to the value of US$10 million, including options exercised by
the client. These further orders from Dalian New Shipbuilding (DSIC), China are
for the supply of marine deck cranes to new build rigs they are undertaking.

"The order book overall continues to grow and that Patriot has seen exceptional
growth over the past few weeks. Last Tuesday morning we announced new orders to
the value of US$9.6 million from two new clients, Schahin Engenharia S.A.
("Schahin") in Brazil and Diamond Offshore Drilling, Inc ("Diamond Offshore") in
USA and the management team is confident of attracting further new business.

"To enable Patriot to effectively manage this rapid growth we have made several
senior appointments. All are highly regarded, experienced industry
professionals. The team will lead the company through this period of rapid
expansion as well as the imminent move into the rig packages market. The
appointments are:

"Kal Karmous has joined Patriot as VP Operations. He is responsible for building
the company's production capacity and leads the operational management team. Kal
has held various positions including Rig Manager, Operations Manager and
Training Manager with Sedco Forex and GlobalSantaFe. His last position before
joining Patriot was VP Engineering & Marketing for a jacking systems company.
Kal holds a BS Mechanical Engineering degree with a minor in International
Economics from North Carolina State University.

"Charles Patrick as VP of Products and Rig Packages. He will oversee equipment
specifications, engineering and all facets of project management for the
products and drilling packages. Pat brings over 30 years of equipment experience
to the role. Prior to joining Patriot, Pat worked for Transocean Offshore
Deepwater Drilling, Inc. Pat also served as chairman of the IADC Maintenance
Committee from 1999 until June 2006.

"Tim Myers has joined Patriot as their VP Marketing & Sales and will lead the
global sales force. He was previously with GlobalSantaFe where he held various
positions of increasing responsibility in engineering, operations support, and
marketing groups. Tim Myers is a 1995 graduate of Auburn University with a
Bachelor's degree in Mechanical Engineering and a 1997 MBA graduate from the
University of South Alabama in Mobile, AL.

"George Taggart has joined Patriot as VP Business Development and will direct
all aspects of the Global Aftersales Group, including Parts, Service, Training,
Overhaul & Repair and Installation & Commissioning. He has over 20 years
experience in the rig equipment market, having worked for National Oilwell and
most recently Maritime Hydraulics where he was Regional Manager of the Caspian
Sea Region.

"We are very pleased to have attracted such high level experienced management to
our team. The wealth of knowledge this adds to our company will prove to be very
influential in our driving GME and Patriot forwards and into new markets. These
appointments will also free-up Paul Findlay's time to allow him to focus
entirely on his role as Chief Executive Officer of GME.

"Turning to NIM: we now believe that the problems within the division have been
resolved once and for all. Although it is not attracting orders of the magnitude
of Patriot NIM is winning new business and the new management team have improved
the efficiency levels, reduced the cost base and implemented a number of changes
that we believe will allow NIM to make a positive contribution to the Group this
year.

"The current order book for GME stands at 34.9 million: Patriot is 31.9
million with NIM standing at 3.0 million.

"As I said at the time of the results announcement in August: the outlook is
very positive; we have won significant orders this month and the team is
confident that further orders will be secured in the near future. We have
strengthened the operational management team, appointed a high calibre Finance
Director and we have successfully expanded the business into new markets.
Overall, the year has been one of steady progress which is now accelerating. We
remain confident that we can significantly enhance GME's position within the
industry and the recent orders go some way towards this".

All resolutions proposed at today's AGM were duly passed.

The Owl - 21 Sep 2006 19:41 - 342 of 418

sd - it was an excellent AGM. Best GME meeting I've been to. The new team is the thing to watch (as well as more orders still to come).

The Owl - 22 Sep 2006 21:26 - 343 of 418

Even more news!! What a week. Icing on cake is their top holder (Gartmore) has increased stake (in the market) to 20% after hours - 4:35pm.
Gartmore + Shroders now have 31%

Enjoy, and have a good weekend all

Global Marine Energy PLC
22 September 2006

22 September 2006

Global Marine Energy plc ('the Company')

Notifiable Interest

The Company announces that it received notification on 18 September 2006 that on
14 September 2006 Gartmore Investment Limited, Gartmore Fund Managers Limited
and Gartmore Global Partners (together 'Gartmore') had an interest in 12,262,498
ordinary shares of 2.5p each in the Company, representing 17.08% of the issued
share capital of the Company, and that on 15 September 2006 Gartmore had an
interest in 14,362,498 ordinary shares of 2.5p each in the Company, representing
20.01% of the issued share capital of the Company

Of Gartmore's interest in 14,362,498 ordinary shares of 2.5p each in the
Company, 2,400,000 shares are held on behalf of Nortrust Nominees Limited
('Nortrust'), representing 3.34% of the issued share capital of the Company.

This represents the entire holding of Gartmore and Nortrust in the issued share
capital of the Company.

On 4 April 2006 the Company announced that on 27 March 2006 Gartmore Investment
Management plc, through its business group and legal entities, had an interest
in 7,612,498 ordinary shares of 2.5p each in the Company, representing 17.00% of
the issued share capital of the Company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Mark Froggatt, Noble & Company Limited 020 7763 2200

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 22 Sep 2006 21:27 - 344 of 418

Don't miss BOTH bits of news above...last is very significant.

stockdog - 23 Sep 2006 11:17 - 345 of 418

I guess being in a stock that has finally turned round is like being in a growth stock from the start. Just a pity we all got their BEFORE the start :)) However, we look set fair for getting some of our money if not all of it and more back over the next year or so.

I guess we might just be in danger of being taken out before we can get there. How long do they hold and what kind of profit do Gartmore usually look for before putting their holding back in play?

Why wouldn't a major client (Chinese?) want to buy these out and take the profit on it?

Just random thoughts. Whatever happens I beleive we are in the right place at the right time now.

sd

The Owl - 23 Sep 2006 13:17 - 346 of 418

SD.
My own thoughts (and just an opinion) is Gartmore would not tolerate a further placing. Incidently, it would be unlikely to raise sufficient cash anyway, or be fully taken.

If I was Gartmore, I'd be looking to reverse Patriot into GME on a 1-1 share basis.
This would maintain GME's value, and eliminate all outstanding GME shares. The listing in the US is pointless these days anyway, as the 60-70% major insti holdings are in GME, and no one trades Patriot as GME have 82% already.

This move would have the effect of totally reversing all last year's placements in one hit. However, GME may wish to keep the two distinct as it allows easier sell-off etc as you say to the Chinese, a larger American player, or someone else denominated in dollars.

An interesting question now though as Gartmore plus Schroders have a controlling stake at c31%, and a couple of the others could easily take this above 50%.

stockdog - 23 Sep 2006 21:46 - 347 of 418

Owl
Confused by the reverse takeover concept - surrely that applies to reversing GME into Patriot, leaving just a single US listing for Patriot with all o/s GME shares eliminated.

I think what you may mean is simply for the 82% majority to enforce the purchase of the remaining Patriot shares (does the SEC allow this as it would be in UK?), so all of Patriot is owned by GME and its US listing is de facto extinguished.

Or am I talking rubbish? I remember suggesting some time ago my preference for this latter course of action. Besides why run the expense of a US listing for such a minority and why expose to Oxley Sarbanes (spelling?) needlessly. Anyway much better to have GME listed in both places if so desired to raise market and fund-raising profile of the group in N. Am.

On reflection why would Gartmore and/or Schroders agree to sell whilst they can grow the company independently - so I don't think they would act against PI's interests. Intersting if a private equity firm tried to take GME off the market - they'd have to pay a pretty premium, I would hope.

BTW - interested to see on another BB your contemplation of a toe in the troubled waters of SEO which I continue to hold at some considerable loss (14.84p av. price - ouch!), having been travelling the week when my stop loss of 13.75p was breached and should have sold and being foolhardy ever since. I must say I loathe the school playground mentality of all parties on that BB in between one or two atempts at serious debate. It is an intriguing conundrum - have they secured funding or not? That's all that counts. The commercial prospects can be re-assessed separately after that happy event.

sd

The Owl - 23 Sep 2006 23:02 - 348 of 418

No, you're right SD. I did mean your second paragraph. Reversed the wrong way ...lol
Absolutely I agree with you re listing. Even US Nasdaq contenders are choosing AIM over the Nasdaq due to SOX & costs. The US listing is pointless, and untradeable. I'm sure they arranged it that way for some good reason which I'm sure will become clear.

Re SEO, was in these last year. Just jumped back in when I saw a 2p price tag. 2p is far too low, but being cautious. Last time I bought at 10p, but had to sell at 8p (at a loss) to buy more GME. The volumes are phenomenal, and conference this week with Wal-Mart.

Spectrum7 - 24 Sep 2006 12:45 - 349 of 418

My calcs say probably 18m or less in free issue now or 28% !

The Owl - 27 Sep 2006 19:35 - 350 of 418

Global Marine Energy PLC
27 September 2006

27 September 2006

Global Marine Energy plc ('the Company')

Notifiable Interest

The Company announces that it received notification on 26 September 2006 that on
26 September 2006 Schroder Investment Management Limited ('Schroder') had an
interest in 8,940,000 ordinary shares of 2.5p each in the Company, representing
12.45% of the issued share capital of the Company. These shares are held in
unit trusts operated and managed by an affiliated company, Schroder Unit Trusts
Limited, and registered in the name of Chase Nominees Limited.

This represents the entire holding of Schroder in the issued share capital of
the Company.

On 19 July 2006 the Company announced that Schroder had an interest in 7,940,000
ordinary shares of 2.5p each in the Company, representing 11.06% of the issued
share capital of the Company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Mark Froggatt, Noble & Company Limited 020 7763 2200

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 01 Oct 2006 11:20 - 351 of 418

Something picked up elsewhere.

Performance bonds allow a customer to pre-fund it's order instead of making stage payments as the order progresses. These are used a lot in Singapore/China/Hong Kong but not so much here.

The way it works is the bank providing the "performance bond" underwrites the stage payments for large contracts. This means if a company does not seem to be delivering a) the bank pays back the customer to avoid lengthy legal disputes etc and b) ensures sufficient finance is provided to complete the order to customers satisfaction.

These are a bit more expensive than normal loans/bonds, however it means orders can be pre-funded. The bond would only be 'called' if the customer presented certain documents. Even then the bank acts as 'arbitrator'. According to Edison, GME can fund up to 40m in this way if it chooses. Of course it can also use other sources of finance, profits etc as normal and does not have to utilise the bond facility.

This seems a very effective way to smooth cashflow on larger orders, and once performance bonds are understood, explains why GME are well positioned.

stockdog - 01 Oct 2006 13:01 - 352 of 418

Owl

I am a provider of bonds in my own area of business. How it works is broadly that GME would borrow the price of the contract plus interest and charges from a bank. The bank would require the collateral of the customers firm order, payable on delivery and assigned to the bank. The bank would require the security of a performance bond (from a third party) that GEM will deliver on time on budget according to specification. On delivery the customer pays the bank the contract price. The bank forwards the profit element remaining after principle repayment and charges to GME.

Not sure who is providing the bond here - bank or 3rd party - suspect the latter (reinsured by a specialist insurer), since the bank would not have the production expertise to assess and monitor the risk.

This method would typically work with project financing which GME have recently mentioned (I believe this is the 40m revolving credit line - as one project repays, the money is free to borrow on the next) in addition to a general loan/overdraft facility. The loan is limited recourse against the project only, not the general assets of GME, hence the need for the bond/guarantor.

My guess is the bond fee would be between 3-7% (pure guess) of the contract price, depending on how much of the first loss GME could underwrite internally and/or how much contingency was added to the contract price to protect overcost etc - e.g. it may only be a catstophe bond, much cheaper than a 90% loss bond.

I expect it works a little differently in each business. In the building world, for example, the guarantor also guarantees to find tenants for the completed buildings. Don't suppose GME's bonder guarantees to find oil!

sd

The Owl - 01 Oct 2006 13:11 - 353 of 418

Here's the article I saw:

"In large commercial projects a heavyweight customer dealing with a new supplier for the first time will often require some form of performance guarantee or bond from a trusted third party such as bank. Under these bonds the bank irrevocably commits to make a fixed payment to the customer on a project failure simply upon the customer presenting certain documents and certificates.

Performance bonds put up by suppliers banks have been a way of life in the Hong Kong construction industry for many years, but they are increasingly found in high value IT projects.

Bonds enable the customer to make upfront project stage payments to the supplier, which help the suppliers cashflow, safe in the knowledge that if the supplier fails to perform the customer can obtain repayment of some or all of the payments on demand, without having to having to wait for lengthy disputes with the supplier to be resolved"

stockdog - 01 Oct 2006 13:20 - 354 of 418

A different version of the same theme in essence. A bank providing the bond would almost certainly have production expertise to advise it and a substantial re-insurance contract. Yes, it also works for customers who fund in stages, rather than project loans from a bank - although I recall we've been told GME needs to ante up about 10% of any contract to get started before customer payments start cdoming in. This could be funded out of the RBS loan facility, whilst contracts paybable only on delivery could be funded out of the project finance being talked about.

All adds up to a well-conceived finance strategy for GME, to lend credence to the large orders sitting on the book. As ever, it's the quality of management that is crucial to turn these orders into profits. Looks like we are well-endowed in that department now.

sd

The Owl - 03 Oct 2006 19:01 - 355 of 418

http://www.thebusinessonline.com/Stories.aspx?&StoryID=993DA3BF-7A31-43CE-AE3F-F3478508418A&SectionID=8099C021-87B0-48CA-A5F1-6335FDE21694&edition=10/01/06

stockdog - 03 Oct 2006 19:20 - 356 of 418

With any luck SEY will buy EEN! A perfect solution to my current dilemma.

Spectrum7 - 04 Oct 2006 05:27 - 357 of 418

Seems to me that bonds are another form of commercial factoring in effect..

Maybe in reverse :-)

stockdog - 04 Oct 2006 09:11 - 358 of 418

One is a performance bond, the other is a financial instrument - different animals really.

Spectrum7 - 04 Oct 2006 21:52 - 359 of 418

Yes but are they not both a garentee by a third party of payment ?

I am finding it a little worrying that the plus points are stacking up for GME but the interest is still mild to put it nicely :-)....

As an aside line......i find it worrying that the interest/investment in the AIM is dropping off alarmingly in IMHO on all fronts....it is not the institutions that will drive this up, its the PI's fighting over the limited shares available. I worry that the PI's willingness to invest in the risky AIM is greatly diminished in the last year or so......
Any thoughts anyone ?

stockdog - 05 Oct 2006 11:30 - 360 of 418

No - one is a guarantee of payment, the other is a guarantee of delivery (which may be incapable of remedy, other than paying the entire cost to date of failure to delilver or abandonment) - different risks/skills. True, each one gives financial protection to the guaranteed party, but in a different form.

I agree with your assessment of AIM - suspect institutions are steering clear of them - but have done nothing about it with my curernt holdings - how long till the next revival of interest in AIM by institutions v. how long is your investment timsescale. If you beleive in the business, who needs the SP to rise before you're ready to cash in - in my case over 10 years hence. Could be a great long-term buying opportunity, resulting in many x-baggers. What price contrarianism? Answer: depends on your timescalce. However I do find myself tending to research FTSE350 a little more frequently for my new funds.

sd

partridge - 05 Oct 2006 15:57 - 361 of 418

Interesting comment re AIM, SD. I have done very well from 4 companies which moved down from main market (HDYS (susequently taken over) JHD, LTHM,RSG). All have strong balance sheets and good cash generation. There are also others such as MJW which prompt me to think that a decent quality portfolio could now be assembled from AIM companies, with attendant tax benefits if, as you and I seem to be, you have an investment time frame which extends into years rather than minutes!

stockdog - 05 Oct 2006 18:04 - 362 of 418

Oh my God, patridge - two YEARS, and I though it was 2 minutes to get your tax break. lol!

Yes, I also agree with you that the top of AIM has probably got at least as respectable as the bottom of FTSE smallcaps.

It's funny how, with all that knowledge out there available to you, you only really learn the hard way by doing it yourself, when you finally work out what your appetite for risk and other psychological make up and how many minutes a day you can devote to the whole game, blah, blah . . . .

Still, I reckon I can cover most of my losses to date before I retire!

sd

Spectrum7 - 05 Oct 2006 22:08 - 363 of 418

"Still, I reckon I can cover most of my losses to date before I retire!"

Ehh.......well you seem to have the hang of this game then :-))

The Owl - 11 Oct 2006 17:48 - 364 of 418

Global Marine Energy PLC
11 October 2006

11 October 2006

Global Marine Energy Plc

New Mechanical Handling Package order totalling US$8.8 million

Global Marine Energy plc, ('GME' or 'the Group'; stock code: GME), the oilfield
services business, announces that its US subsidiary, Patriot Mechanical Handling
('PMH') has won an order totalling US$8.8 million from Eisner Business S.A.,
Brazil subsidiary of Queiroz Galvao Perfuracoes S.A.

The US$8.8 million order from Eisner Business S.A. is for one mechanical
handling rig set, comprising BOP and Subsea Tree transporters for a new build
semi-submersible currently on order from Keppel FELS in Singapore.

Queiroz Galvao is a major Brazilian corporation with operations in
construction, real estate projects, concessions, urban waste disposal, oil and
gas, steel industry, finance and farming. Queiroz Galvao started its
activities with conventional drilling rigs in 1981. The growth in this activity
has continued, and today the company owns and operates semi-submersible,
offshore drilling platforms and conventional as well as helitransportable
onshore drilling rigs in remote and hard to reach areas like the Amazon region,
where the company has three onshore drilling rigs in operation.

Keppel FELS is a wholly owned subsidiary of Keppel Corporation, through Keppel
Offshore & Marine, and is a leader in offshore rigs, ship repair and conversion
and specialized shipbuilding. Keppel Offshore & Marine's near market / near
customer strategy is bolstered by a global network including 17 yards in the
Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East and North Sea
regions. Integrating the experience and expertise of its yards worldwide,
Keppel Offshore & Marine aims to be the provider of choice and partner in
solutions for the offshore and marine industry.

Paul Findlay, Group CEO of Global Marine Energy Plc, commented:

'Hopefully investors can now see that the strategy implemented by the Board is
bearing fruit as we continue to expand our client base and to develop
relationships with some of the largest companies in the market.

'The Group performance continues to improve, and the outlook is positive'.

ENQUIRIES:

Global Marine Energy Plc Tel: 01274 531 862
Paul Findlay, Group Chief Executive

Noble & Company Limited Tel: 0207 763 2200
Mark Froggatt

Bankside Consultants Tel: 0207 367 8888
Michael Padley/Susan Scott

stockdog - 11 Oct 2006 23:25 - 365 of 418

Nice lift today but on very low volume. However, we've passed the 21.5p previous high, next barrier 27.5p, then 30p - should prove not too difficult over the next couple of months. $28.3m of orders secured since reporting finals in August. Roll on December's interims.

The Owl - 13 Oct 2006 18:20 - 366 of 418

Big buys late. 45k moved by mid-day, then 440,000 in afternoon on more big buying.

The Owl - 15 Oct 2006 23:22 - 367 of 418

I guess we've all read full page spread pg 20 of the Times? Oh...I forgot few of us read ...lol. Anyway, here are some of the key points.

'India Plans UK plc takeaway' ref Mukesh Ambani head of Reliance Group and india's most influential businessman.

'He told Sunday Times he was planning to secure an oil drilling and engineering firm to expand his growing exploration and production business in Africa. Reliance is the world's biggest refinery in Gujarat and is emerging as a global player in the oil business. Ambani believes British companies working in North Sea will become increasingly vulnerable to takeover bids as reserves dwindle.

"We're looking at buying companies in North Sea oil, in Scotland...as years go by North Sea reserves are depletiing, but there's lots of talent there and this industry is short of talent" he said.

"We will look at acquisitions to acquire talent to use in this part of the world and in West Africa and some countries like Columbia. We now have to get experienced talent in Europe to go and find oil in more frontier areas"
"There is more than 20 years of N.Sea experience in the UK, and we could deploy it globally"

Article then goes on to ref various deals including 55m deal for Pearl, another for 91.6m, and of course Tata's recent well publicised $10b bid for Corus steel co.

"There is a queue of Indian companies wanting to list on AIM. At the moment you have to be listed as an Indian company on an Indian exchange, butthere is that idea of going global and getting access to foreign capital"

All oil companies including GME should benefit from this as a) China & India are the two main global growth monsters and b) there is a big shortage of staff in the oil industry.

There aren't that many "oil engineering and drilling" companies in the UK - certainly not many as affordable, under-valued as GME.

Should help the sector sparkle a bit on Monday...Good luck to all holders.

The Owl - 17 Oct 2006 21:21 - 368 of 418

Here's the full article. Note Tata have offered for Corus.

http://www.timesonline.co.uk/article/0,,2095-2403959.html

The Owl - 19 Oct 2006 19:45 - 369 of 418

Reliance eyes UK's Wood Group
Wednesday, 18 October , 2006, 10:06

Mumbai: India's top private company Reliance Industries Ltd (RIL) is in talks to acquire British energy services firm Wood Group (John) Plc, the Economic Times newspaper reported on Wednesday.

"RIL's talks with the Wood Group are in line with its exploration and production plans, which now envisage doubling of production to almost 80 million metric standard cubic metres per day by 2008," the newspaper said, quoting unnamed sources.

A Reliance spokesman was not available for an immediate comment.

The newspaper said Reliance was on the look-out to acquire energy services and rig companies in Europe and was in talks with at least two to three companies with a profile similar to that of the Aberdeen, Scotland-based Wood Group.

The Owl - 23 Oct 2006 21:22 - 370 of 418

Bit of news for a quiet half-term. Not expecting much action this week with everyone on hols.

Patriot expanding ...

http://www.realtynewsreport.com/

See Oct 16th.

stockdog - 28 Oct 2006 15:34 - 371 of 418

Some interesting numbers to fantasize over from my good friend donaferentes on the other board.

< >

sd

The Owl - 11 Nov 2006 07:51 - 372 of 418

Sondex in profit. NIM may still hold back GME as Wood said positive contribution not to be seen until H2.

The Owl - 16 Nov 2006 21:54 - 373 of 418

Time to post :-)

This evening...Hot off the press.

Operators increasing budgets by 20% Gulf of Mex. 50% margins on spare parts...stuff about India too...7-10 kits being built. 30 rig deficit in world today, plus more pre-tenders. They reckon things are getting worse on the rig supply side. 10-15 per year are needed just to replace existing fleet.

Le Tourneau backlog $600m, but struggling to produce (works there but struggling to find equipment, staff - same old story). They reckon $700m next year, $1bn 2008. Remember, Patriot are part of marketing alliance with Le Tourneau via Lewco/SourceOne drilling.

http://www.veracast.com/webcasts/bas/energy06/id48212367.cfm - check it out while you're watching GME move ...lol
www.source1drilling.com

Also stuff from smallcap conf. - go to jp site & can log on.
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=RDC&script=400
In this one Lewco's partner OEM mentioned, also rig kits "...which provide some of the best margins, the margins are increasing ...", lots about North Sea, British gas, North Sea and deep drilling. 42% of net book value in N. Sea, demand for deeper wells, and higher quality equipment...Every region in world heavily utilised (unprecedented), lots of enquiries for work from 15 December-Mid Jan in Gulf of Mexico as new budgets agreed, also need still to clean up some of the rigs hit by hurricane. Nearly everyone increasing budgets by 20% or more, loads of new activity in Gulf. Still see market getting stronger internationally, reckon 10-15 py just to replace rigs through attrition (i.e. old & need replacing). Additional new rigs still needed because old rigs not designed to drill the depths required....don't see '..oversupply for rigs anytime soon...'. loads of delays e.g N Sea lookingto 2008/2009 for equipment now...all just on bids out today...there is no spare capacity ...great thing with packages is they can be removed from one rig and reinstalled elsewhere if needed (didn't know that!), etc etc. Le Tourneau can build 8 kits per year. 60% external, 40% internal currently but will move to 70% external, 30% internal...lots of new bids for land rigs now as well as offshore.

Expecting big rise in gulf, partly because all the leases are expiring...so you don't need to listen now :-)

The Owl - 19 Nov 2006 12:45 - 374 of 418

Stuff from other Board courtesy Dug M.

Good diggin, Owl. Thanks.

H&Co Sept - GME Order book stands at 27m
H&Co Nov - "...GME added $28m (=14.7 @1.9000 $/) since our Sept monthly.."
So if GME delivered nothing since Sept, book would be 41.7m.

BUT GME said about a month ago in Oct, their book was 34m.
Looks like they're getting in about 6-7m pm - about 2x what they last said they were delivering "in excess of 3m in 2 months". Really good pace IMO & gives them 2 years work or so now, with more to come at their choice as cash/margins flow from delivered orders. Also means as productivity increases, there's little risk of them "delivering out" the book prematurely.

Pommy - 20 Nov 2006 18:24 - 375 of 418

wanna start to see some buying before the results

The Owl - 20 Nov 2006 18:44 - 376 of 418

that'll be mid-Dec then??

Usually release end December, as it takes about 12 weeks to get numbers together across all their offices. They can do it a bit quicker but not much.

Someone's keeping the sp very solid. Good enough for me.

canary9 - 22 Nov 2006 13:10 - 377 of 418

Global Marine Energy PLC
22 November 2006

22 November 2006

Global Marine Energy PLC

Trading Update

The Board of Global Marine Energy PLC ('GME' or 'the Group') wishes to update
the market as to its current trading and financial position.

Current trading

Over the last six months Patriot Mechanical Handling, Inc. ('Patriot') has been
successful in winning large orders from new and existing customers which are due
for delivery in the coming financial years. There have however been some losses
from existing legacy contracts that have been completed during the current
financial year. The Board therefore believes that the results of the Group will
be materially below the market's current expectations for the 12 months to 31
March 2007.

Patriot Mechanical Handling, Inc.

There have been some earlier contracts which have resulted in losses in excess
of 1.0 million for Patriot Houston during the period. The Group has conducted
a full review of current contracts and the controls for tendering for them and
will be making a number of alterations to the accounting procedures for Patriot
Houston. In addition, the delay in completing alliances to allow the transfer of
fabrication from the USA and UK to Singapore and Brazil has now been overcome.
This delay, as well as the additional costs of entry into new markets, has
resulted in further costs of around 0.5 million. These alliances are now in
place and current orders are being fabricated where it is most cost effective.

In addition as a result of this review, Patriot is taking a more conservative
view to its forecasting of margins and has reduced its estimated margins on
certain contracts going forward, reducing the margins by almost 1.0 million

Patriot has incurred a number of additional book costs, i.e. non-cash items
totalling c. 0.6 million, for the period which have also contributed to the
Board's view on the Group's position for the year.

The Group also announces today a contract valued in excess of $20 million with
Star International Drilling Ltd., the Brazilian subsidiary of Queiroz Galvao
Perfuracoes S.A., for delivery in 2008/9.

The order from Star International Drilling Ltd. is for one mechanical handling
rig set, including but not limited to: Vertical Racking System, fingerboards,
Iron Roughneck, drillfloor winches, BOP crane and transporter, X-mas tree
carrier, king post deck cranes, riser gantry crane, catwalk machine and derrick.
This equipment will be used in the upgrade of the Olinda Star semi-submersible
that is to be carried out by Keppel FELS Brazil.

NIM Engineering Limited ('NIM')

The Board is satisfied that the new management that came on board in the spring
is settling into its new role well and it looks forward to an improved
performance from the division in the future.

The interim results for the period to 30 September will be published in the
middle of December.

Paul Findlay, Chief Executive, Global Marine Energy PLC stated:

'Although the forecasted figures for the current year are disappointing, we are
confident that the performance of the Group going forward will improve
significantly. The Group now has in place a variety of alliance based
fabrication facilities, a growing order book that will deliver in 2007/8 and
2008/9 and a management team within each subsidiary that will ensure that the
setbacks are not repeated.

'We continue to win significant new orders with new clients, with an additional
US$25 million currently in the final stages of negotiation; we have now in place
cost effective operating systems, we have appointed experienced management teams
to run both operational subsidiaries'.

Enquiries:

Global Marine Energy PLC
Paul Findlay, Group Chief Executive 01274 531 862

Andrew Gibson, Finance Director

Noble & Co
Mark Froggatt 0207 763 2200

Bankside Consultants
Michael Padley / Susan Scott 0207 367 8888

About GME

Headquartered in Shipley, Yorkshire, Global Marine Energy Plc ('GME') is an
oilfield services business with a strong emphasis on supplying equipment for
offshore drilling and exploration. The Group has two subsidiaries: the
Houston-based Patriot Mechanical Handling, Inc. ('Patriot'), where GME has an
82.76% interest, providing comprehensive engineering solutions for mechanical
handling to the offshore oil and gas industry, and the wholly-owned
Newcastle-based NIM Engineering, which provides handling and access equipment to
the engineering, oil and gas and marine industries.

About Queiroz Galvao

Queiroz Galvao is a major Brazilian corporation with operations in
Construction, Real Estate Projects, Concessions, Urban Waste Disposal, Oil and
Gas, Steel Industry, Finance and Farming. Queiroz Galvao started its
activities with conventional drilling rigs in 1981. The growth in this activity
has continued, and today the company owns and operates semi-submersible,
offshore drilling platforms and conventional as well as helitransportable
onshore drilling rigs in remote and hard to reach areas such as the Amazon
region, where the company has three onshore drilling rigs in operation.

For further information, please visit the website,

maestro - 22 Nov 2006 16:33 - 378 of 418

DOG!

stockdog - 22 Nov 2006 22:41 - 379 of 418

You rang?

Bit of a bummer, instead of 1.94m operating profits we will have 1.16m operating loss to March 2007. Have to wait another year.

RNS suggests they now have in place pricing mechanisms to stop jobs being taken on at a loss. Let's hope so, otherwise they have an awful lot of orders to lose money on.

At least you can buy at a reasonable spread for once!

hlyeo98 - 22 Nov 2006 23:22 - 380 of 418

Chart.aspx?Provider=EODIntra&Code=GME&Si

The Owl - 24 Nov 2006 22:53 - 381 of 418

Checkout Patriot's spread today 29/30c! Never been that close.
Then went to 29/55c after lunch. Very interesting.
Plus a new MM joined the previous 5 on L2. 3 of them on Friday raised their
NMS to 25,000! Never been more than 10,000 before.
Usually heralds an increase in liquidity for the stock, and that MM's expect
further action. With an expanding company (new offices, more & very experiencec staff, huge hike in order book), and under-valued stock expect good things to come.
The other oil companies are on 'buy' ratings. This is still beneath the radar, although with 72% of shares in institutional hands, the media are likely to get hold of it once
the recent increase in order book hits.

The Owl - 27 Nov 2006 22:49 - 382 of 418

Global Marine Energy PLC
27 November 2006

27th November 2006

Global Marine Energy PLC

New orders totalling US$11.6million

Global Marine Energy plc, ('GME' or 'the Group'), the oilfield services
business, announces that its US subsidiary, Patriot Mechanical Handling
('Patriot') has won two orders with a total value of US$11.6 million, from
Keppel FELS Limited in Singapore and Petrobras in Brazil.

The larger US$7.8 million order is for one mechanical handling package, for the
Ensco 8502 ultra-deepwater semisubmersible currently on order to Keppel FELS
Limited from ENSCO International, Inc. The order calls for Patriot to deliver
during 2007/08 a riser gantry crane, marine deck cranes, BOP handling, and tree
handling systems, and to provide training, spare parts and commissioning
services.

The Petrobras order totals US$3.8 million and is for the supply of 2 marine king
post deck cranes for the P-14 platform. Delivery is scheduled for Q4-2007.

Paul Findlay, Group CEO of Global Marine Energy PLC, commented:

'Ensco's decision to chose Patriot to supply the rig package, on this third
newbuild rig of the 8500TMseries, is based on the quality of our equipment and
our levels of service. This is an important relationship for our Company and is
indicative of Patriots' commitment to its customers.

'The order from Petrobras, the world leader in deepwater exploration and
production, further reinforces our presence in the Brazilian market and is a
testament to our ability to meet the demanding technical, safety and delivery
requirements of large operators.

'We will continue to look to build similar strong relationships with other major
drilling contractors.'

ENQUIRIES:

Global Marine Energy plc Tel: 01274 531 862
Paul Findlay, Group Chief Executive

Noble & Company Limited Tel: 0207 763 2200
Mark Froggatt

Bankside Consultants Tel: 0207 367 8888
Michael Padley/Susan Scott

About GME

Headquartered in Shipley, Yorkshire, Global Marine Energy Plc ('GME') is an
oilfield services business with a strong emphasis on supplying equipment for
offshore drilling and exploration. The Company has two subsidiaries: the
Houston-based Patriot Mechanical Handling, Inc. ('Patriot'), where GME has an
82.76% interest, providing comprehensive engineering solutions for mechanical
handling to the offshore oil and gas industry, and the wholly-owned
Newcastle-based NIM Engineering, which provides handling and access equipment to
the engineering, oil and gas and marine industries.

For further information, please visit the website,

www.gmeplc.com

.

This information is provided by RNS
The company news service from the London Stock Exchange

Pommy - 28 Nov 2006 17:03 - 383 of 418

you reckon they can make any profit on these orders?

The Owl - 28 Nov 2006 20:10 - 384 of 418

Yes. H2 is going to be profitable, but not enough to overcome 3m losses in H1, so translating a 1.94m projected profit into 1.1m end of year. That's the latest, but it's just possible certain events could turn this around.

The costs will be coming down heavily to help this, also all orders are now done to actual specs, because they are "rig packages" or "sets" - rather than tailor made orders.

The Owl - 30 Nov 2006 18:05 - 385 of 418

Excellent sign - this is what we want. More please.

Global Marine Energy PLC
30 November 2006

30 November 2006

Global Marine Energy plc (the 'Company')

Notifiable Interest

The Company announces that it received notification on 29 November 2006 that on
24 November 2006 Cantor Fitzgerald Europe ('Cantor') had an interest in
2,850,000 ordinary shares of 2.5p each in the Company, representing 3.97% of the
issued share capital of the Company.

This represents the entire holding of Cantor in the share capital of the
Company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Adam Westcott, Noble & Company Limited 020 7763 2200

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

stockdog - 30 Nov 2006 22:50 - 386 of 418

Owl - moderately encouraging news. In my experience Cantor are aggressive opportunists. So they clearly see the SP rebounding to nearer the 22p mark it recently fell from. But long term holders - no. Watch out for the swerve in the price when they exit on a 36% pre-determined gain from 16 to 22. No criticism implied - it's what they do.

hlyeo98 - 06 Dec 2006 07:21 - 387 of 418

Global Marine Energy PLC
06 December 2006

GLOBAL MARINE ENERGY PLC

Interim Results
For the Period ended 30 September 2006

Global Marine Energy Plc ('GME' or 'the Group'), the oilfield services business,
announces its Interim Results for the period ended 30 September 2006.

Key points of the period:

> Expansion into new territories proving successful; current order book
over 50 m;

> New customers won, enquiry levels high;

> Increase in turnover to 5.7m (4.1m in 2005), in line with forecasts;

> Impact of legacy contracts and additional overheads contributed to
overall loss of 3.9m (0.5m for 2005);

> Balance sheet strengthened following placing raising 3.7 m net of fees;
and

> The Group's cash balance stood at 1.51 m at 30 September with net funds
being 0.9 m.

The Board has committed to undertake a strategic review of the business and the
options open to it to deliver shareholder value.

Paul Findlay, Chief Executive Officer, Global Marine Energy Plc commented:

'It has been an extremely disappointing six months as the cost of sales
throughout the period has been materially affected by losses within certain
legacy contracts completed by Patriot Mechanical Handling and also by the
increased overheads incurred as the Group entered new markets. These are areas
that the Board has addressed and it is confident that the issues contributing to
these losses have been resolved and that the recent contracts won will be
profitable.

'We continue to expand and to win new orders, the order book currently stands at
53.8 million, and enquiry levels remain high. GME is now firmly established in
the world market and we are beginning to prove ourselves as a real alternative
to the industry's majors.

'The Group expects to make a significant profit in the second half of the year
and the Board is optimistic that GME is entering a period of sustained
profitability and wish to thank the shareholders for their patience and
continued support during the implementation of the strategic plan'.

The Owl - 08 Dec 2006 18:10 - 388 of 418

Some 'at's goin on !!!

Global Marine Energy PLC

RNS Number:5667N
Charles Stanley & Co. Ltd.
08 December 2006

FORM 8.3

DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

(Rule 8.3 of the City Code on Takeovers and Mergers)

1. KEY INFORMATION

Name of person dealing (Note 1) Don Godwin
Company dealt in Global Marine Energy PLC
Class of relevant security to which the Ordinary
dealings being disclosed relate (Note 2)

Date of dealing 7 December 2006

2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of
relevant security dealt in (Note 3)

Long Short

Number Number
(%) (%)

(1) Relevant securities

(2) Derivatives (other than options) 1,450,000
2.02%

(3) Options and agreements to purchase/sell

Total 1,450,000
2.02%

(b) Interests and short positions in relevant securities of the company,
other than the class dealt in (Note 3)

Class of relevant security: Long Short

Number Number
(%) (%)

(1) Relevant securities

(2) Derivatives (other than options)

(3) Options and agreements to purchase/sell

Total

(c) Rights to subscribe (Note 3)

Class of relevant security: Details

3. DEALINGS (Note 4)

(a) Purchases and sales

Purchase/sale Number of securities Price per unit (Note 5)

(b) Derivatives transactions (other than options)

Product name, Long/short (Note 6) Number of securities (Note 7) Price per unit (Note 5)

e.g. CFD

Spot equity / Long 200,000 18.027p

spread bet

(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

Product name, Writing, selling, Number of securities Exercise Type, e.g. Expiry Option money
purchasing, to which the option American,
e.g. call option varying etc. relates (Note 7) price European etc. date paid/received per
unit (Note 5)

(ii) Exercising

Product name, e.g. call option Number of securities Exercise price per unit (Note 5)

(d) Other Dealings (including new securities) (Note 4)

Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)

4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating
to the voting rights of any relevant securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is
referenced. If none, this should be stated.

None

Is a Supplemental Form 8 attached? (Note 9)
YES

Date of disclosure 8 December 2006

Contact name Robert Howard

Telephone number 020 7953 2154

If a connected EFM, name of offeree/offeror with which connected n/a
If a connected EFM, state nature of connection (Note 10) n/a

Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk

SUPPLEMENTAL FORM 8

DETAILS OF OPEN POSITIONS

(This form should be attached to Form 8.1, Form 8.1(b)(ii) or Form 8.3, as
appropriate)

OPEN POSITIONS (Note 1)

Product name, Written or Number of securities Exercise price Type, e.g. Expiry date
purchased to which the option or (Note 2) American,
e.g. call option derivative relates European etc.

Spread bet / Purchased 750,000 17.275875p n/a 29 December 2006

spot equity
Spread bet / Purchased 500,000 18.277375p n/a 29 December 2006

spot equity
Spread bet / Purchased 200,000 18.027p n/a 29 December 2006

spot equity

Notes

1. Where there are open option positions or open derivative positions (except
for CFDs), full details should be given. Full details of any existing
agreements to purchase or to sell should also be given on this form.

2. For all prices and other monetary amounts, the currency must be stated.

For details of the Code's dealing disclosure requirements, see Rule 8 and its
Notes which can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 09 Dec 2006 16:41 - 389 of 418

...and what is this doing in the "Takeover Disclosure Panel" in the eod messages Friday at 5:08pm, huh...?? Never a dull moment...lol

OFFEREE: Global Marine Energy Plc
2.5p ordinary ISIN: GB00B0SP6N19 NSI: 71,790,094
OFFEROR: No named offeror

If those 22p spreadbets are due to expire on Dec 29th, they must be expecting movement by 22nd as markets close for Christmas.

The Owl - 14 Dec 2006 21:09 - 390 of 418

"Buy confirmed" on Britishbulls.com

The Owl - 04 Jan 2007 19:58 - 391 of 418

Global Marine Energy PLC
04 January 2007

4 January 2007

Global Marine Energy plc (the "Company")

Notifiable Interest

The Company announces that it received notification on 2 January 2007 that on 28
December 2006 Cantor Fitzgerald Europe ("Cantor") had an interest in 4,950,000
ordinary shares of 2.5p each in the Company, representing 6.90% of the issued
share capital of the Company. This represents the entire holding of Cantor in
the share capital of the Company.

The Company announced on 30 November 2006 that Cantor had an interest in
2,850,000 ordinary shares of 2.5p each in the Company, representing 3.97% of the
issued share capital of the Company.

For further information please contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862
Adam Westcott, Noble & Company Limited 020 7763 2200
Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888

This information is provided by RNS
The company news service from the London Stock Exchange
END

canary9 - 16 Jan 2007 16:50 - 392 of 418

This Company never ceases to amaze!!!

Global Marine Energy withdraws December statement referring to future profits
AFX

LONDON (AFX) - Global Marine Energy PLC said it is withdrawing a statement it made alongside first half results on December 6 last year in which it referred to future profits.

The group was told by the Panel on Takeovers and Mergers that its statement was, in effect, a profit forecast for the years ending March 31 2007 and beyond. However, Global Marine said it could not issue firm profit forecasts for these periods as there is no certainty of significant profit in the second half and beyond.

The Dec 6 statement had said 'the group expects to make a significant profit in the second half of the year and the board is optimistic that GME is entering a period of sustained profitability...'.

Global explained that for the current year to March 2007 the profile of the current order book is such that a significant proportion of forecast revenue is anticipated to be earned in the final quarter of the current financial year and it is this which it is uncertain of achieving.

In respect of the period beyond the current financial year, the statement '...the Board is optimistic that GME is entering a period of sustained profitability...' is regarded as being ambiguous in relation to the period over which it applies and also to the trading performance of the company during this period, Global continued.

It is also the board's view that it will not be possible to report on this statement in compliance with Rule 28 of the Takeover Code or to make a revised

forecast.

newsdesk@afxnews.com

slm

COPYRIGHT

Copyright AFX News Limited 2006. All rights reserved.

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited

The Owl - 21 Feb 2007 21:35 - 393 of 418

Keep it there :-)

The Owl - 02 Mar 2007 17:44 - 394 of 418

Survived the week - expect good things soon on this.

The Owl - 10 Mar 2007 23:00 - 395 of 418

Great rise on good volume and very tight spread on Friday 17.50-18.00 but you could sell at 17.63!

News shoudl be coming soon with 3 weeks to go to end of year & Edison report 9/3/07 indicates '...we see order book extending at the year end...'

The Owl - 20 Mar 2007 09:18 - 396 of 418

At last! Got rid of Nim for which they'll save cost - Patriot orders zoom to 63m!!

20 March 2007

GLOBAL MARINE ENERGY PLC

UPDATE ON TRADING AT NIM AND REVIEW OF TRADING AT PATRIOT

Since the release of Global Marine Energy Plc's ('GME' or the 'Group') interim
results on 6 December 2006, NIM Engineering Ltd ('NIM') has suffered a series of
contract slippages and, most recently, the loss of major orders. NIM is now
facing a period of significant operating losses going forward against a total
order book of less than 1 million. Taking account of the short term visibility
of NIM's contracts and the high fixed cost base of its operations, the Board of
GME has decided that it will no longer support NIM. As a consequence, the board
of NIM has today announced that Mazars LLP is in the process of being appointed
as administrator to NIM.

The Group expects that the write-off of the non-cash inter-company creditor
balance with NIM will be in the region of approximately 1.2 million and the
Group estimates that NIM's trading losses have increased by a further
approximately 0.3 million since 6 December 2006. Notwithstanding this non-cash
write-down the Group's cash position as at 31 March 2007 is estimated to be
robust.

In addition, Ansell Jones Paisley Ltd, the access division within NIM, is today
also being placed in administration due to the uncertainty regarding the
company's future commercial viability. There is no additional financial impact
on the Group of this appointment other than outlined above. Ansell Jones Ltd
will remain part of the Group.

These actions have now focused the Group operations on Patriot, its US operating
subsidiary, which has the benefit of its longer term contracts and higher
margins. Patriot continues to trade strongly in line with the Board's
expectations. Furthermore, the forward order book at Patriot now stands at in
excess of US$122 million.

The strategic review announced on 6 December 2006 is continuing and the Board
expects to be in a position to further update shareholders shortly.

Paul Findlay, Chief Executive Officer, Global Marine Energy Plc commented:

'The administration of NIM and Ansell Jones Paisley Ltd is unfortunate but
became necessary as the operations were non-core and were not performing in line
with expectations. These businesses absorbed both management time and cash
which can be better used elsewhere in the business. Patriot continues to expand
rapidly and we can now concentrate all of our energies on driving that business
forward'.

For further information:

Global Marine Energy Plc Tel: 01274 531 862

Paul Findlay CEO

Andrew Gibson Financial Director

Bankside Consultants Tel: 020 7444 4140

Michael Padley/Susan Scott

Noble and Company Limited Tel: 0207 763 2200

John Llewellyn-Lloyd

Matthew Hall

This information is provided by RNS
The company news service from the London Stock Exchange

The Owl - 20 Mar 2007 18:47 - 397 of 418

Interview with Findlay:

LONDON (AFX) - Global Marine Energy PLC chief executive Paul Findlay said the exit of the company from its NIM engineering business will only have a marginal impact on full year profits and the company is now in a better position to focus on its core Patriot subsidiary.

Following the announcement today that the NIM and Ansell Jones Paisley Ltd businesses will be put into administration after "suffering a series of contract slippages" and "the loss of major orders", Findlay said they "absorbed both management time and cash which can be better used elsewhere in the business". In an interview with AFX News, Findlay added the company, which supplies lifting and handling equipment to the oil and gas industry, is still happy with profitability and cash forecasts for the full year. Edison Investment Research said that as NIM was loss making, it believes there will be limited sustained impact to the profit and loss, and widened its forecast 2007 pretax losses slightly to 1.4 mln stg from 1.1 mln. It will review its 2008 forecasts at the year-end trading statement. Findlay said NIM only contributed around 5 pct to the group's revenue, while its remaining core asset, US subsidiary Patriot, had a current forward order book of 122 mln usd.

Commenting on whether Patriot may be subject to slippages similar to NIM, as the booming oil and gas industry fights for a limited number of skilled employees, Findlay said there is always a possibility, "but the trick is to hold onto your people."

"I can't say there's no danger [of slippage] but there's certainly a relaxed atmosphere around here because we're a fast growing company and everyone wants to be a part of it."

Findlay said whether the 30 to 40 people NIM employed in Newcastle lose their jobs depended on what the administrators decided to do with the business including the possibility of a trade sale.

stockdog - 20 Mar 2007 18:57 - 398 of 418

Maybe NIM is a minnow Geoffrey Hutchings can pick up for LUPUS??

The Owl - 20 Mar 2007 21:22 - 399 of 418

Hi Stockdog,

good to hear from you! You still in this ??
Not heard from Chrissie in a long time, and this Board is extremely quiet.

Great news today, and gather this is just the start. Even better to come I hear.
Set up for an exciting period.

Good volume at close on 3,000,000 shares traded.

stockdog - 21 Mar 2007 09:45 - 400 of 418

Owl - yes, still here, but mostly following the fortune's of Lisa's rig on the other side (bearing gifts - to give you a clue!).

I sold half my holding back at 18p a few months back to place elsewhere, but am happy with keeping what I have.

Hoping for buy out of Patriot's 18% minority as a next step.

The Owl - 25 Mar 2007 19:26 - 401 of 418

ah, that's you is it :-)

stockdog - 25 Mar 2007 19:47 - 402 of 418

One of the most succint statements of non-information in the English language, "It's me'"

The Owl - 10 Apr 2007 08:23 - 403 of 418

Global Marine Energy PLC
10 April 2007

Global Marine Energy PLC

10 April 2007

Global Marine Energy PLC

Consolidation of GME's interest in Patriot

The Board of Global Marine Energy PLC ('GME' or the 'Company') is pleased to
announce that following a restructuring of its Patriot Mechanical Handling ('
Patriot') business the Company now has 100% direct interest in the three Patriot
operating companies Patriot Mechanical Handling Inc (Texas), Patriot Mechanical
Handling Ltd (UK) and Patriot Mechanical Handling Pte Ltd (Singapore) (together
'the Patriot Subsidiaries').

As part of the restructuring process GME has gained 100% interest in the Patriot
Subsidiaries in return for relinquishing its remaining 81% interest in Patriot
Mechanical Handling Inc (Delaware) to a third party. Prior to the restructuring
Patriot Mechanical Handling Inc (Delaware), listed on the OTC Bulletin Board in
the US, owned 100% of each of the Patriot Subsidiaries. This company is in the
process of changing its name to Kensington Industries, Inc.

The transaction now removes the outstanding 19% minority interest in the Patriot
business and going forward GME will benefit from 100% of Patriot's performance.
This has been achieved at no cost to the shareholders of GME.

Paul Finlay, Chief Executive Officer of Global Marine Energy PLC, commented

'... We now have 100% interest in the operating companies of Patriot which
ensures that GME and its shareholders receive 100% of any growth and increase in
value of the Patriot group. I am particularly pleased that this has been
achieved without any dilution to our shareholder base ...'

For further information:

Global Marine Energy Plc Tel: 01274 531 862
Paul Findlay, CEO of GME Plc

Bankside Consultants Tel: 020 7367 8888
Michael Padley / Susan Scott

belisce6 - 24 Apr 2007 09:22 - 404 of 418

does change of adviser mean potential capital raising soon ??

capetown - 24 Apr 2007 09:24 - 405 of 418

Probably,it would not be out of character for GME would it?

The Owl - 03 May 2007 22:00 - 406 of 418

Sticking with this GME. 2 years in GME in 9 days!!

Would be good to see action soon, however as this BB is inactive, can I declare THREAD CLOSED. Just doing a bit of house-keeping.

Best of luck to all holders.

tingtang - 12 Jul 2007 14:20 - 407 of 418

owl,

You cannot make a silk purse from a sows ear.

This co is no good and never will be, integrity and quality of management is a fundamental requirment and is sadly lacking in this crew.

Having said that, the no of comebacks from the dead leave Lazarus looking like an amateur.

Any investor looking at this one needs to research back at least 7 years to realise just what a pile of poo the share is. Prior to the last name change and consolidation they had more paper in issue than the Bank of England and, if they survive yet again, that's where they will be heading again if any stupid institutions are prepared to back them, or even worse, P I mugs dragged in by 'Penny Share' salesmen can say goodbye to their dough.

tt.

mcmahons - 12 Oct 2007 08:45 - 408 of 418

Cash offer of 13p from EMER International Group Ltd seems likely.
Talks continue. Present price of Global Marine 9-3/8 pence.

mcmahons - 19 Oct 2007 08:55 - 409 of 418

13 pence per share reverse takeover offer for Global Marine Energy PLC (GME),
44.4 % over closing price of a GME share of 9.0 pence on Sept 27.

mcmahons - 18 Dec 2007 16:14 - 410 of 418

Deals coming though at just under 16p as expected.

i.e On Nov 6, EMER upped its original 13 pence per share reverse takeover offer, dated Oct 19, to 16 pence per share, valuing GME at 11.6 mln.

maestro - 18 Dec 2007 20:00 - 411 of 418

booght in today...seems a 30% profit no brainer

mcmahons - 18 Dec 2007 20:51 - 412 of 418

Should be no brainer as you say maestro,
3 deals at over 20,000,000 today.
But ! Needs close monitoring.
We may need to ' do the Hokey Cokey' !

elbow - 20 Dec 2007 09:14 - 413 of 418

ticking up nicely

mcmahons - 20 Dec 2007 14:28 - 414 of 418

yes so so, should reach about 15p based on take over price i.e16p per share

capetown - 20 Dec 2007 15:27 - 415 of 418

Be very quick to sell!!

capetown - 20 Dec 2007 15:27 - 416 of 418

If and when it does get to around 15/16p

mcmahons - 20 Dec 2007 16:26 - 417 of 418

Absolutely capetown !
The three large deals that went through on the 18th 3 X 20,000,000 were @15.50p so as with all dealing monitor.
% increase since the 12th fine with me it pays for we wii !

maestro - 20 Dec 2007 21:13 - 418 of 418

heard a whisper that another bidder is prowling... 20p?

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New Global Marine Energy - a rising star? (GME)