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%

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).

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

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?

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.

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

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

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.

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

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

Hope we're all strapped in :-)

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

sd

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

sd

SD
G-force. Definitely not G-string?

that's not in the small of my back!

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.

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