This share has taken off over recent weeks. The management has transformed the company. Offshore Telecom presents an exciting opportunity. Rival BBs are very active on this share. It is time for MoneyAM BBs to join in the fun.


Offshore Telecom Plc

KEY NEW ORDER SIGNED WITH XCHANGEPOINT

Offshore Telecom Plc ("Offshore Telecom") announces that its principal operating subsidiary, Matrix Network Solutions ("Matrix") has received a letter of intent from XchangePoint Europe Ltd. ("XchangePoint") for orders which are expected to generate revenues of 500,000 over the next two years.

XchangePoint is a leading provider of metro-area internet interconnect services. It offers its customers an extensive range of services that enables them to balance their peering, transit and access requirements through a single connection on the XchangePoint platform. XchangePoint currently operates mainly in London and in Hamburg, Germany and is planning to expand its services into at least two additional major European Cities over the next two years.

At the outset, Matrix will provide outsourced network support services to assist XchangePoint in rolling out its services into mainland Europe. Matrix will also supply and install the communications networks and associated equipment for this expansion.

Ian Smith, Offshore Telecom's Chief Operating Officer, commented :

"This is the first announcement of a number of significant new contracts won by Matrix in recent months. The XchangePoint contract will contribute some revenue in the current year, but the bulk is likely to be booked in our financial years starting in November 2003 and 2004."

Richard Almeida, CEO XchangePoint added:

"XchangePoint is very pleased to be working with Matrix as a trusted business partner for network services, contributing heavily to earlier implementation of our business plans and vastly improving on the traditional supplier approach. This will accelerate the roll-out of our newly funded plan to grow XchangePoint's business into Europe"

RNS Number:1797T
Offshore Telecom PLC
12 December 2003


FOR IMMEDIATE RELEASE 12 December 2003


Offshore Telecom Plc

ACQUISITION OF INTRINSIC NETWORKS FOR UP TO #2M
and
BOARD APPOINTMENT


Offshore Telecom Plc ("Offshore Telecom"), the supplier of high performance IT
network solutions to the public and private sectors in the UK through its
principal operating subsidiary, Matrix Network Solutions Limited ("Matrix"), has
acquired Intrinsic Networks Limited ("Intrinsic") for a consideration of up to
#2 million.

Established in September 2002 by Peter Drinkwater and Andy Mills, Intrinsic
Networks represents the next generation of Network Security Integrator,
providing integrated high performance networks security and application security
solutions to large corporate enterprise customers, mobile service providers,
financial service providers and various public sector organisations. Intrinsic
Networks has already built a significant 'blue chip' customer base, which
includes Vodafone and Yorkshire Water, amongst others.

Intrinsic Networks provides customers with a range of integrated network and
application security solutions, planning, consultancy, project management and
support services. Additionally, Intrinsic Networks has formed strategic
partnerships with a select group of US security manufacturers including
NetScreen, Fortinet, Sanctum, CipherTrust, BlueCoat and Cerberian.

Intrinsic Networks continues to be innovative in its dynamic approach to
providing leading edge security solutions.

Although historic audited financial information is not yet available, management
accounts for the period from commencement of trading until 30 November 2003 show
revenue of #761,000 and a profit before tax of #118,000. Net assets being
acquired are #174,000, including cash of #141,000. These results are drawn up
on accounting policies consistent with those of Offshore Telecom.

Offshore Telecom has paid an initial consideration of #600,000 of which #300,000
was paid in cash and #300,000 in new ordinary shares in Offshore Telecom
(37,500,000 shares at 0.8p). Subject to the achievement of agreed performance
targets, a further payment of #300,000 in cash and #300,000 in shares may be
made after 29 February 2004 and a final payment of #800,000 may be made in
shares after 31 October 2004. For each of the further payments the new shares
will be issued at 0.8p per share. In order for the vendors to receive the full
earn-out consideration, Intrinsic will need to achieve revenues of #1.8 million
and operating profits of #400,000 for the period from 1 December 2003 to 31
October 2004. The vendors have agreed to retain any Offshore Telecom shares
received as initial and earn-out consideration for at least one year from
receipt.


Peter Drinkwater (aged 39) has joined the board of Offshore Telecom following
completion of the acquisition. Peter has considerable experience within the IT
security systems market, having held senior sales and marketing positions with
NetScreen Technologies, Network Associates, 3 Com (UK), Bay Networks and Cray
Communications.


Michael Frank, Chairman, said :

"Intrinsic Networks complements Matrix's existing IT network sales and support
activities and takes the group more deeply into the arena of IT security - one
of the fastest growing segments of the market. A key benefit of the deal is the
excellent opportunity for cross-selling between the customer bases of both
Matrix and Intrinsic.

"This acquisition is in keeping with the group's strategy to build a high
performance integrator of leading edge technologies.

"We are now well on our way to building a rapidly growing and profitable IT
network and security business."


For further information please contact:

Michael Frank, Chairman Tel: 07802-787624
Ian Smith, Chief Operating Officer Tel: 07811-327054

Steve Liebmann, Bankside Consultants Tel : 07802-888159 / 020-7444-4163



Additional information relating to Peter James Drinkwater :

Current directorship : Intrinsic Network Solutions Ltd.

Former directorships within the last five years : none

No further disclosures are required in accordance with Schedule 2 (f) of the AIM
Rules.



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

fingers xxd - 9Dec'03 - 00:35 - 304 of 368


... HI EVERYONE !! ... please excuse my intrusion.

I live across the road in the 'FAR2' thread, a 'house' full of 'chartists'. I have been asked for my thoughts on OST, and having just looked at its charts in detail, and posted my views, I thought it may be of interest to some who live here, so I have just 'popped across briefly' to push a copy through your 'letterbox'.

If you consider a 'chartists views' to be 'junk mail', then please feel free to ignore it, however, I would ask that you help 'keep Britain tidy', by discarding it in the bin .. thankyou .. ..........please use the purple scrollbar to view.


OST - 0.775p .. OFFSHORE TELECOM .. a bit of a 'tiddler', but I'll have a go.

Starting with its 'historical MONTHLY movement chart', the 'basement range' below 1.0p can be clearly seen ... Its 'mid range price is 0.5p', and above this level, it has a greater chance of achieving a breakout of the 'basement', and its been above the 'mid price' continuously for the last couple of months.

Monthly volume has been increasing over the last 5 mths, so the first signs are looking good.

Its 'key levels' appear at 0.5p intervals, and all of these will act as support when the price is above, and resistance as the price approaches from below.

Having been in its 'basement range' for 2 yrs, if it can achieve a breakout, this will be a significant achievement, and strong moves should follow.



Moving in closer, and looking at its 'WEEKLY movement' over the last couple of years, whilst it has been in the 'basement range', it can be seen that it has also put in place a strong 'core range' around the 'mid price', and the last few weeks has seen it move, and close, above this 'core range', which has only been seen on a couple of previous occasions during the last 2 yrs .. combined with the rising volume, and indicators lines in positive territory .. all the signals are starting to look very encouraging !!



Moving in still closer to its 'DAILY movement' over the last 3 mths, provides greater detail of what is happening now. It shows that last month, it did achieve an 'intraday breakout', and having 'popped its head above for a look around', doesn't appear to have frightened it, because since then, it has been using the top of the 'core range' as a support level, whilst its consolidates to build up its strength to try and break out.




SUMMARY

All the indications suggest to me that a breakout is imminent, and its just a matter of time. The only thing missing at the moment, is volume.

The indicators are showing signs of reversing upwards, so it is entering a 'positive period', and it can either use this period to attempt another breakout, or it could use it to hold its present level, and continue building up its strength for the breakout.

Beware of false 'intraday breakouts', such as last month, breakout confirmation will be obtained when it 'closes' above the 1.0p level, and as previously mentioned .. hold onto your hat, because some strong sharp moves may follow !!

I reckon it has some good potential.

As usual, just my thoughts .. I do not hold (yet), so it is an unbiased view.

... Feel free to 'pop over' and visit
sometime, all are made welcome.
.............................. Bye for now !! ........ ..

.

Looks like this one is going to move very soon.

MM's buying big time today and yesterday and at full price. Rumor is results due out on Friday and possible update/news.

DYOR

Martin

Do anyone know what happen it rise a lot today

Seems like people have got wind of this company. New broker, MM's buying and rumour that results tomorrow.

DYOR but looks good with a 22% rise today

OST now leading the top % gainers for the day..

Lets hope we will be there again tomorow if the results are out then as quoted on rival BB. (advfn)

Good luck all

Ended up 18.7% on the day and with more MM buying at the end. Results out tomorrow could see the same again.

DYOR

what will be the result tomorrow?

MM's still buying into this stock, up another 6% so far today.

More MM's buys again today.

Well another MM buy 1 million this time, results still not out so looks like Monday

As always DYOR have a good weekend all

Offshore Telecom PLC
19 January 2004


FOR IMMEDIATE RELEASE 19 January 2004



Offshore Telecom Plc
to be renamed
Matrix Communications Group plc

RESULTS FOR THE YEAR ENDED 31 OCTOBER 2003



Offshore Telecom Plc, the supplier of high performance IT network solutions to
the public and private sectors in the UK, has announced its unaudited results
for the year ended 31 October 2003.



Key points:

Business transformed into rapidly growing, profitable supplier of high
performance IT network solutions.

Name of group to be changed to Matrix Communications Group plc,
subject to shareholders' consent.

Ongoing Matrix business achieved an operating profit of 176,000 on
revenue of 1.3m since becoming part of the group on 29 April 2003.

The original satcom business incurred an operating loss of 401,000 on
turnover of 328,000 and has been closed.

Total group turnover was 1.7m (2002: 260,000). After one-off
charges, the loss before tax was 428,000 (2002: loss of 665,000) and the
loss per share was 0.06p (2002: loss of 0.29p).

Net cash at 31 October 2003 was 161,000 (2002: 3,000).

Since the year end, the business has been expanded by the acquisition
of a 50% interest in Norwood Adams Technical Services and the acquisition of
Intrinsic Networks.


On outlook, Michael Frank, Chairman, stated :

'The Matrix group is building a rapidly growing, profitable integrator of IT
networks. The recent acquisition of Intrinsic Networks takes us into IT
security systems - one of the fastest growing segments of the network market -
and our interest in Norwood Adam Technical Services secures our ability to
support our customers.



'Order intake in the current year has started strongly and we are in advanced
negotiations and trials on a number of substantial new business opportunities.
The group now has a clear sense of purpose and direction and expects to deliver
good results in the future.'



For further information please contact:
Michael Frank, Chairman Tel: 07802-787624
Ian Smith, Chief Operating Officer Tel: 07811-327054

Steve Liebmann, Bankside Consultants Tel : 07802-888159 / 020-7444-4163



CHAIRMAN'S STATEMENT


Introduction


During the year to 31 October 2003 the group was transformed through acquisition
into a supplier of high performance IT network solutions. The original
satellite communications activities ('satcom') have been discontinued.


Matrix Network Solutions Ltd. ('Matrix') therefore became the principal
operating company within the group following its acquisition at the end of April
2003. This business has established an excellent client base and has been
profitable since acquisition. Its activities have since been augmented by two
subsequent acquisitions.


Proposed change of name


To reflect the new direction of the group, it is proposed to seek shareholders'
approval to change its name to Matrix Communications Group plc. Once the change
in name has come into effect after the forthcoming Extraordinary General Meeting
(the EGM will take place immediately after the Annual General Meeting), the new
stock exchange code will be 'MXC'.


Group development


Matrix was acquired on 29 April 2003 for a consideration of 432 million new
ordinary shares, equating to a value of approximately 1.2 million based on the
share price immediately prior to the initial announcement in early April.



As a result of a review of activities and continuing losses within the original
satcom business, in July 2003 the board announced its decision to withdraw from
these activities. This process has been completed and the associated costs are
included in the results to 31 October 2003.



Since the end of the financial year, the ongoing core business of IT network
solutions has been augmented by two further acquisitions:



On 10 November 2003, the group subscribed 100,000 cash from existing
resources for a 50% interest in Norwood Adam Technical Services Ltd.
('NATS'). NATS delivers a full range of technical support and managed
services. These services form an integral part of Matrix's ability to
provide ongoing support to its customers.



NATS will be consolidated as a subsidiary within the group accounts in the
current year.



On 12 December 2003, Intrinsic Networks Ltd. ('Intrinsic') was
acquired for up to 2 million with an initial consideration of 600,000
split equally into cash and new ordinary shares. As a supplier of IT
security solutions and services, Intrinsic complements the existing Matrix
activities. The additional payments to the vendors of Intrinsic will depend
on the achievement of agreed performance targets. The cash element of each
payment is coming from existing resources.


Financial results


The results for the year to 31 October 2003 reflect the substantial changes
which have occurred during the year. The results for the first half year were
essentially those for the former satcom activities while the results for the
second half year reflect the contribution made by Matrix.



Within the headline turnover of 1.7 million (2002: 0.3 million), continuing
activities contributed 1.3 million - virtually all of which was represented by
Matrix's revenue during the second half year. The turnover attributable to the
discontinued satcom activities was 0.3 million, most of which arose in the
first half year.



In terms of operating profit/loss, the contrast is even more marked. Matrix has
been profitable since it started trading and achieved an operating profit of
261,000 in its first 9 months to 31 October 2003. In the period since Matrix
was acquired, it contributed an operating profit of 176,000 while discontinued
activities incurred an operating loss of 401,000 including one-off costs of
approximately 71,000 incurred in withdrawing from the original satcom
activities. Overall, the consolidated operating loss was 255,000 (2002: loss
of 586,000).


A charge of 174,000 (2002: 79,000) for diminution in the value of investment
represented the final withdrawal from the New Opportunities Investment Trust plc
scheme and is the difference between the carrying value and the eventual
realisation of 62,000. The consolidated loss before tax was 428,000 (2002:
loss of 665,000) and the loss per share was 0.06p (2002: loss of 0.29p).


The balance sheet has improved markedly during the course of the year with
year-end net cash of 161,000 (2002: 3,000) and shareholders' funds of 1.5
million (2002: 222,000). During the year, 501,000 was raised through the
issue of new equity.


The payment of a dividend for the year will not be proposed.


Strategy


Going forward, the strategy for the Matrix group will be clearly focussed on
building a rapidly growing, profitable IT network solutions business. The
initial elements already in place are the provision of high performance networks
(Matrix), the ability to offer IT security systems and services (Intrinsic) and
high level, round-the-clock customer support services (NATS). Two further areas
have been identified for future expansion through acquisition to develop the
group's market proposition :


Data storage solutions go to the heart of securing and protecting an
organisation's vital information and dovetails neatly with existing group
products and services; and


Voice over internet protocol ('VOIP') is regarded as the future for
mainstream telephony, essentially using IT networks and the Internet for
voice communications. Given the strengths of the group in networks and
security, this represents a natural direction for development.


An important aspect of the strategy is to acquire businesses which are
complementary in terms of both technology and customer base to increase the
opportunities for cross-selling between operating companies and to share common
overheads such as administration and training.


Board


The changes to the board have reflected the development of the group during the
year. Ian Smith was appointed a Director on the acquisition Matrix and was
appointed Chief Operating Officer in July 2003. More recently, we have welcomed
the appointment as Directors of Tony Weaver on the acquisition of 50% of NATS
and Peter Drinkwater on the acquisition of Intrinsic.


At the time of the decision to withdraw from the original satcoms activities in
July, David Bland, Philip Mehrtens, Mike Yarrow and Pat Roberts left the board.
We would like to thank them for their contributions.


Outlook


The Matrix group is building a rapidly growing, profitable integrator of IT
networks. The recent acquisition of Intrinsic Networks takes us into IT
security systems - one of the fastest growing segments of the network market -
and our interest in Norwood Adam Technical Services secures our ability to
support our customers.



Order intake in the current year has started strongly and we are in advanced
negotiations and trials on a number of substantial new business opportunities.
The group now has a clear sense of purpose and direction and expects to deliver
good results in the future.


Michael Frank 19 January 2004
Chairman



GROUP PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 OCTOBER 2003




2003 2002

Acquisitions
(Continuing Discontinued
activities) activities Total

Turnover 1,333,566 327,863 1,661,429 259,824

Cost of sales (874,557) (256,684) (1,131,241) (206,374)
-------------- -------------- -------------- --------------
Gross profit 459,009 71,179 530,188 53,450

Net operating expenses (312,579) (472,159) (784,738) (639,199)
-------------- -------------- -------------- --------------
Operating profit/(loss) 146,430 (400,980) (254,550) (585,749)

Interest receivable 1,367 -
Amounts written off investments (174,250) (78,750)
Interest payable (1,022) (843)
-------------- --------------
Loss on ordinary activities before (428,455) (665,342)
taxation

Tax on loss on ordinary activities (21,293) -
-------------- --------------
Loss for the financial year (449,748) (665,342)
========= =========

Loss per share (pence) (0.06p) (0.29p)



The group has no recognised gains or losses other than the results for the year
as set out above.



The company has taken advantage of Section 230 of the Companies Act 1985 not to
publish its own Profit and Loss Account.

Up again today ,looks very promising.

g12 :)

Anybody know if there are contracts still waiting to be annouced that they are currently working on?

is it still good to hold, or sell it? any comment

Hard to say at the moment, The company is still working on building and the shares mag had a three line saying may be on turnround. I would not sell
the shares are still cheap and I do not think there is much downside or risk. I believe they are working on some proposals according to earlier reports. A good announce ment could push the price upwards but it could be a few months. Sorry can not tell you more than. As usual DYOR and all the best with what you decide.

Good move today the with total gain of 80% since I entered. This could be the next good earner but will be bumpy for a while till the new name and orders arrive. Nice to see a new hand on board who is used to aquisitions, my read is they will be active in this field.....time will tell. ck..... did you sell, hope not.

on the way north new main man at the helm shoud make this fly i`m staying for the ride it will be bumpy but i thats part of the fun

Another good day with plenty of buyers and sellers holding for more profit. Friday could be another good day and will tell if the sellers will enter to slow things down. At this price can not see a down and the next months should see some activity on the purchase front..... It may be a little bumpy but thats the way to make the money.

Another good rise today. How far can this go before profit takers move in ?