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%

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

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.

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

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

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.

Quiet and steady day with a few more T trades.

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 :)

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

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.

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

LOL

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

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.

News soon.

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.

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.

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.

http://www.smallcap.tv/

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

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

Happy Valentines Day!

Good news expected then...

Happy Saint Valentines day please.