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%

Happy Valentines Day!

Good news expected then...

Happy Saint Valentines day please.

Global Marine Energy PLC
14 February 2006

14 February 2006

Global Marine Energy plc ('the Company')

Notifiable Interest


The Company announces that it received notification on 14 February 2006 that on
9 February 2006 The Goldman Sachs Group, Inc ('GS Inc'), including its direct
and indirect subsidiaries, had an interest, by attribution only, in 4,725,000
ordinary shares of 2.5p each in the Company, representing 10.55% 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 24 January 2006 the Company announced that 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.





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

4 pieces of news still expected! This not one of them.
2 imminent.

State of Play after Goldman increase:

GME Share Total 44,786,730 (A) (*excludes options, 'special' shares, & PMH)

Goldman 10.55% 4,725,000
Gartmore 16.93% 7,582,498
MDB 3.68% 1,650,500
Amvescap 3.74% 1,660,000
P Wood 7.90% 3,537,683
UBS 4.47% 2,758,559
Noble 4.46% 2,000,000
Staff (Ex Wood) 0.5% 218,800
--------------------
TOTAL 'FIXED' 52.23% 24,133,040 (B)


Est 10 PI's 25k Invested (100,000 shares) 1,000,000
PI's 100 PI's 10k Invested (40,000 shares) 4,000,000
-------------------
TOTAL LONG TERM 'OPEN INTEREST' PI ~11% 5,000,000 (C)


Net 'FREE TRADEABLE' A-(B+C) = 15,653,390
(Does not include those institutions with less than 3% who have not declared)

Average Per MM=15,653,390/7 = 2,236,197
Max Daily Vol since split 1,658,775 (20th Jan)
Avg vol since split 18 days 297,099 (6-13 Feb - Yahoo Finance)
At current 40c, Patriot/GME price ratio= 1:1

So GME 'could' sell 15,000,000 Patriot = 20% of 82% holding to buy back GME shares & eliminate the free float,yet still retain 62%...

The more GME rises, the more this will cost as it becomes expensive relative to Patriot. Practically unfeasible if doubled to 50p (unless PMH rises proportionately) as risk is GME's PMH holding could reduce to less than 50% so GME no longer single majority holder.

As usual, just my opinion - DYOR

Very interesting figures, Owl, but not sure what it tells us, other than good institutional suppport sitting there like us waiting for the day when it comes good. Why would buying in the free float be a proposition they would consider? It would diminish the market for the institutions' holdings - they will want to sell to someone else sooner or later, including PI's. Equally, they might want to buy in the 18% minority in Patriot before it got too expensive - needing to raise a little extra capital to do so, or possibly debt financed once clearly profitable with good cashflow.

sd

SD
the thinking is GME could sell 20M Patriot shares @40c to raise 4.6M, yet still retain 62,000,000 Patriot shares. With the money raised they could use 2m to buy back shares in GME (thereby doing what they always said in RNS 11 May 2005), reduce no of shares by 8M and so increase value of them.

I agree that may intensify the short-term market value of GME shares, but at the cost of having sold part of the future revenue stream i.e. long-term real value, since PMH are the main earner. Perhaps it depends on your time scale which way you vote on this one.

Yep, fair point.

The alternative (I guess) is for Patriot to get back to $2 which we'd all love to see. However, with only 18% stock available, no Director or institutional interest (until PMH get's over $3), it's hard to see how it would climb with all the pump/dump ops on the OTCBB. So maybe with the shares trading at 30c, GME should increase its holding.

That would have the merit of forcing at least some PMH holders into the parent which would then create a little upward pressure on GME SP?? I like that idea. Besides, it does not make sense to have 18% hanging out, unless it is a structured route to more capital which I believe is not the case here.

BTW what is the market cap of PHM currently - not found a site to tell me this info? Thanks in advance.

sd

Today has been absolutely fantastic.

We needed the share to start testing the placement, and 20p level to confirm institutions and others are there. Painful for us holders I know, but it had to happen.

GME behaved perfectly with 800,000 more trades than the best day this year (that includes after Keppel & COSL announcements). Volume was 4x daily average, and (I think) better than the best day in 2005 (share for share). Lots of T trades and M trades as MM's only have average of about 2.5M each (see analysis 2 days ago).

Lots of new buyers it seems too. All this on a day with no announcement, no media coverage, no orders etc - perfect.

Mr OWL,
I have been watching this for a while now,and i jumped in @23,
Great thread with constructive info.
Will be watching even harder now.
THX

capetown

Very envioous of your entry point of 23p! Welcome aboard.

Owl

Hope you have a good time on the piste!

Chrissie

wonderful time, thanks.

New IT work starting (my other job!) in a couple of days so back just occasionally.

Analyst estimates/forecasts now available for 2008 - (Source: IC)
Personally still don't believe GME can achieve 13M for 2006.

I think 7-8M is more realistic - but what do I know?! I guess we should just use last year as a guide till told otherwise.

IMO 13M only possible if they've done some clever things with delayed turnover from last year - i.e. booked most of it in 2nd half. Even then it's pushing it.


Forecasts
Year Ending Revenue (m) Pre-tax (m) EPS P/E PEG EPS Grth. Div Yield
31-Mar-06 13.02 (0.37) (1.13)p n/a n/a n/a n/a 0.0%
31-Mar-07 18.29 1.67 2.63p 9.2 n/a n/a n/a 0.0%
31-Mar-08 21.54 2.97 5.26p 4.6 0.0 +100% 0.10p 0.4%

Forecast Ratios
Year Ending Revenue/Share Price/Revenue per Share
31-Mar-06 0.29 0.83
31-Mar-07 0.41 0.59
31-Mar-08 0.49 0.50

Owl you mentioned 4 bits of news 2 imminent (post 119). Have not seen much in the way of news since then are you still expecting these and any idea when?

Like watching paint dry with this lot!
Yep, 2 pieces of news before end Feb - but it's now March!!
1) What they'll do with OTCbb shares
2) Is there to be early announcement of results

3), 4) are speculative for March/April.

In with 15k PMH@16c today. V.risky as they may cancel OTCbb shares, and totally against the market, but think Mr Baer will come up with something good in next 2 months.

PMH are exhibiting in April.
http://www.iadc.org/conferences/OL6_Program.html
http://www.energyinternat.com/pdf/412-pdf/412-citn.pdf

Owl

You're right, it is like watching paint dry. I really thought the sp would have come good by now. I am 40 in August and was hoping to treat friends and family to a wild weekend. So what do you think, shall I book something up or what? Surely the sp will have reached 1 by August after some cracking reslts and decent contract wins. Is it possible or am I dreaming?

Softly, softly catchee monkey - but yes it's pretty dull stuff. Perhaps there'll be a Trading update end of March. Hope for everything, expect nothing.

sd

Don't think you're dreaming, Chrissie.
Why not have a wild time anyway - only 40 once :-)

Wise words SD!

Small confession guys 'n gals - bought 40k PMHH avg 16c.
I know, I know - Pinksheets n all that.

Just don't see a $2 share being worth 1/13th of its value in 10 months with $20m orders announced in 5 months. They may have wrongly valued PMH at $2, but not so wrongly it's below original purchase price!

If they cancel/swap PMH for GME, possible loss on PMH should be offset by rise in GME. On other hand if any danger of GME not delivering good results, I think they'd look to sell PMH. Could be very wrong here though & extremely risky strategy!