Brokers Hargreave Hale gave the following Valuation for HMY

VALUATION
The nearest comparisons to this Group are Sondex, trading on a current year multiple of 14 and Weir Group which typically trades on multiples of 12 plus. We would argue that Hamworthys prospects are brighter than both these companies in view of the strong order book and the global positioning. Fully taxed earnings of 13p this year and 16.5 p for the 2005/6 end March, suggests a current year PE of 9.9x and a prospective PE of 7.8x. There is a prospective yield in excess of 4%. If trading on a similar PER to Sondex the shares would be valued at in excess of 180p. We would argue that a premium to Sondex is justifiable, in particular because of the potential ramp up to sales as a result of the new product pipeline now gaining client acceptance in what is in any event one of the fastest growing markets in the world.

"Shares" Article relating to Hamworthy (HMY) posted below for info.

With a following wind these shares should double over the next year or so.

Some catty folk in the City say the flotation last month by Collins Stewart
could have been handled better, i.e. at a higher price. It was certainly over
subscribed but the rating is half that of similar oil sector service companies
including Sondex.

GF, sure am, waiting for some more contracts to appear before I take my profits and move on. SP has held well over the last few weeks on very little news which is always a good sign.

Blimey that was a quick reply. Nice to see you still aboard. Just wondering if I should add. Will have some lunch and think it over.

cheers GF.

I would hold on for a bit, could be a while before the rest of the deals go through so worth keeping the current holding in but I don't see a huge rush to top up just yet. IMHO DYOR.

Been a nice earner for me so far and keeping my fingers crossed for a dividend within the next 18 months or so.

Starting to move again

Starting to move up very quickly.

cheers GF.

Glad I held on now. All mine are blue at the moment.

MS

Tipped Yet again in Sharemag today.

Did it give any targets?.

cheers GF.

I can't believe that a little mention in Shmag delivered today's price rise. Surely a penny or two is all that was justified - if that. I'm not complaining - just mystified. Glad to see it on the move again. Roll on 3.00. 5.00 by Christmas LOL.

I think its still in the process of bidding for more LNG contracts in addition to those won recently.

cheers GF.

Nice to see these moving up again.

cheers GF.

Getting ready to break up.



cheers GF

I can't seem to work out how the price rise is justified on these low buying volumes.

Dont really care, especially when Ive often seen it the other way around expert.

cheers GF.

Nice to see this one ticking up.

cheers GF.

In the blue again this morning.

cheers GF.

Moving averages look good, up a pence or two each day is fine by me.

Im up 20% since jumping in so keeping this for the long haul ahead. I just need OXB and BPRG to start rolling.

Well done accord.

cheers GF.

.5% every other day???????????? yes please, compound that over a year and I will be happy.

Have held now for 3 x months and will be holding long term.... good share.

rob

From Tradewinds today "Qatar's LNG producers have finally gone out to shipowners with their next huge tender for up to 12 LNG newbuildings worth an estimated $2.8bn...Market players say Qatar Ship Acquisition Team (QSAT), which exxonmobil's Bob McCormack will shortly take over as chair, is asking owners to submit offers on 12 of the so-called Q-flex LNG ships of around 210,000 cbm. They are also being asked to quote on 10 Q-Max vessels of about 250,000 cbm. These would be the largest LNG ships ever built." "Companies are being asked to express interest after which formal offers will be requested for next month, with a view to selecting the preferred owners by April. The aim is to see the charter contracts awarded by june/july. Qatar has already secured 16 LNG newbuildings, eight conventional-size ships and eight Q-Flex ships as part of its huge 60-ship acquisition project connected to its export drive. This next tranche of LNG ships are needed to serve Qatar's planned RasGAs III train-six project. The giant 7.8 million tonnes per annum production train is set to supply LNG to the US from 2009. But Qatar's appetite for LNG ships will not stop there. Three more huge tenders are planned"

It is the above tenders for new LNG ships that could mean happy days for Hamworthy if they win the contracts to supply the re-gasification pumps, and hence why the price has moved up in the last few days. As the winner of the last 8 contracts, it is more than possible Hamworthy will also win the next ones...and with LNG being the future on world energy, Hamworthy should have a massive future. IMHO