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%

'bout 10mins ago :)

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

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."

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.

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

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

Next week should be interesting...

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

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

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

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

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.

Blimey another blue start!

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

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.

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.

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.

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!

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.

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

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).