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%

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!

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.

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."