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%

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.

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

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

Whoops !!

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!

Buyers falling over themselves, looking good

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.

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

0.04 down. Not too bad.

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

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

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

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

not much buying thou

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).

*** New +$800k order

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

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

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

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