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%

This placing comes as no suprise.....why should it ?? weve had enough of them !!

But....why now at 15p and not last month at 20p-25p ?
Why the total lack of PR with the news ?
What were the facilities set up with the bank for ?

This management need to do some serious explaining or lose the confidence of the PI completly..IMO

Seems to me we have been pissed on from a great hight.....again :-(

Think we just have to hope Paul Findlay can take the reigns and make the three important phone calls.

Is one of them to GOD?

Think they're striking while the iron's hot.

If their 3 year business plan was financed, this will be extra cash.
They have 4.75m from Jan placing+4.0 (June placing)+RBS facilities (2m??)+ profits from completed work - total of between 10m-12m.

I guess the price could have been raised (e.g. back to 27p) then do a placing, Spec. however, it would just fall back again once placing announced.

Better to get it out of the way, knowing there are several institutions now with Open Interest at the 15-17p level. Cannot imagine they'd have a need for any more till the share price goes well over 50p. Even if they did, would the instis now let them dilute the big guys - be very surprised if they did!

Will probably go to the EGM to see what the questions are. Would be good to catch up as I'm working in Leeds currently so 12pm is no problem.

If orders are to be c20m for 2007, and they can deliver 40% margins, there should be a return within a year on the placings. Let's see.

Small buy today of 5000 shares. I'm hoping to add 15k more over next few weeks before July placing. Need to move a few monies first though. Wondering if any PI's are left in this thing!! Blimey - need a sense of humour ...

Have a good weekend.

Is the end of year results out tomorrow? Anyone?

Should be !

July 5th - EGM day, 7am I reckon.

Later is better as just 10-12 weeks to 2007 half-year profits.

THREAD CLOSED - PLEASE FEEL FREE TO START ANOTHER

11 Aug - Audited results show sales 4.76m rose to 11.2m (7m since interims) under Mr Findlay, CFO Mr Baer (Patriot), Mr Gibson (New Finance Director appointed in Jan)

Previous RNS gives order book at 24m in July with 'in excess of 3m' delivered in first 2 months of 2007 Financial year. Net cash 4m following placing.

I believe one can only sit and wait with this company as they have not shown they can be trusted. Great prospects though and if they pull it off, the share price will rise significantly, but promises have not been fulfilled so far. Good growth area but financial management has been a problem imo. Perhaps new FD can get to grips with that.

Global Marine Energy PLC
14 August 2006

14 August 2006



Global Marine Energy PLC
Orders secured totalling over US$9 million


Global Marine Energy plc, ('GME' or 'the Group'; stock code: GME), the oilfield
services business, announces that it has won orders totalling in excess of US$9
million from two companies in Singapore.


NIM Engineering Limited has secured a US$2.7 million order from Baker Marine for
anchor winches, whilst the US subsidiary, Patriot Mechanical Handling Inc, has
received orders totalling in excess of US$7.2 million from PPL Shipyard Private
Ltd ('PPL'), for pipe handling & drill floor equipment, and Neptune Marine Oil &
Gas Limited ('Neptune'), for handling and drilling products. Delivery of all
these orders is scheduled for 2007.


PPL is one of the world's leading rig manufacturers, with a number of
subsidiaries offering a range of services to the international offshore oil
industry, including Baker Marine, a specialist in jackup rig technology. PPL's
rig building activities are centred at its Singapore yard; to date these
facilities have fabricated over thirty rigs of various types and sizes.


Neptune is an emerging drilling contractor with an experienced management team.
It is aiming to become a major, quality offshore drilling contractor, focusing
on drill-ships and other mobile offshore assets within the Mediterranean, the
Black Sea, the Middle East, India and South East Asia markets.


Paul Findlay, Group CEO of Global Marine Energy PLC, commented:


'We are continuing to make progress in expanding our client base and in
developing relationships with the world's leading rig manufacturers. The orders
from Singapore are the culmination of several months' work and I am confident
that our team can build upon this and that we can continue to expand and grow
the Group worldwide.


'As an independent niche supplier to the oil industry, we have the opportunity
to increase turnover rapidly and to grow our market share in an expanding
marketplace.'


'The recent placing has put the company in a much stronger position to win
orders in the future, as has been shown with this set of orders. The stronger
balance sheet and additional cash have enabled us to fund the working capital
and performance bonds required to secure such orders. This fundraising has
enhanced GME's position in our market and we would like to express our thanks
for our shareholders support.'



For further information please contact:

Paul Findlay, Group Chief Executive, Global Marine Energy plc 01274 531 862

Mark Froggatt, Noble & Company Limited 020 7763 2200

Michael Padley / Susan Scott, Bankside Consultants 020 7367 8888






This information is provided by RNS
The company news service from the London Stock Exchange

A promising announcement.
Looks as though fortunes are on the turn.
If the Company problems are indeed in the past then this is an exceedingly attractive level to buy in at.

9 million contracts in Singapore for Global Marine Energy

Global Marine Energy PLC oilfield services provider has won 2 contracts worth over 9 million. i.e Shipyard Pte Ltd and Neptune Marine Oil & Gas Ltd.

News of 14/08/2006

For the bulls among you:

http://www.britishbulls.com/StockPage.asp?CompanyTicker=GME&MarketTicker=Oil%20and%20Gas&Typ=S

Might have to top up tomorrow morning !!!!

http://www.edisoninvestmentresearch.co.uk/

Released today. A really fair piece of analysis, and shows what GME can do. Some very relevant bits of info in there too. Apparently, on pe of 3.0 for 2007!! - a must read.

Can they do a profit in H1 2007? - now that is an interesting question.

From the market report in today's Independent:

Global Marine Engineering, the AIM-listed oil services group, has attracted the attention of small cap traders in recent weeks after the stock fell to below 13p, valuing the company at less than four times 2007 earnings. Yesterday's confirmation that the group has won two orders worth $9.9m from Singapore helped the shares to bounce another 2.25p to close at 20.25p, and the rumour among traders is that there could be more good news in the pipeline.

and also in The Times:

http://www.timesonline.co.uk/article/0,,748-2312997.html

Global Marine Energy, the oilfield services group, rose 2p to 20p on securing orders worth $9 million (4.8 million) from companies in Singapore. Its NIM Engineering division has won a $2.7 million order for anchor winches. Patriot Mechanical Handling, its American operation, has picked up a $7.2 million contract for handling and drilling equipment.

"....rumour among traders is that there could be more good news in the pipeline." That'd be nice!

It would :-)

conflicts with another thread that says GME would like to stay out of the spotlight now !!!..dificult if you have more news to announce as well ;-)

Personally i am all but speechless that a company like GME would want to be out of the spotlight.......excuse me while i go and pull my hair out !!!!