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%

There really is no excuse now with this statement. With a sensible price shortly perhaps it will be taken more seriously. Certainly should be IMHO.

Well there goes 2005! Thanks to you all for your fun & serious contributions to GME.

Looking forward to 2006, GME seems to have a great future ahead. Few AIM companies have a director investing 1m, an order book of 11m, 3 top class banks with >3%, international markets & growing demand for their products, a management team in place for several years, at last a sensible stock price on consolidation, a new name and what's more they've said trading is now profitable since first half of 2005/06

Whatever the future holds for GME, the setup on this stock is about as good as it gets. Hopefully we've seen the bottom, and can at last look forward to seeing GME become a GEM.

Happy new Year.

Happy New Year Owl!

All GME have to do is win a couple of 3mil plus contracts and we'll be up up and away. As you say they are now set fair to cope with those contracts and to have attracted the institutions they have and sorted out banking facilities with RBS they MUST be expecting to win such contracts. Otherwise why the need to have the working capital available.

I think 2006 will be a good year for us all. And who knows we may even end it off with a 2.00 party.....now that would be nice!!!!!

Happy New Year to all GME holders!

Just to clarify, I meant TO of 6m for H2, making 10+m for the full year. I estimate we need 5.50m TO in H2 to break even in H2 alone and 6.85m TO in H2 to break even for full year to March 2006. Somewhere in the middle would be consistent with "the Company is now trading profitably", however short of saying that the company would break even or better for the full year. So I'm sticking with my 6m H2 TO as the correct order of magnitude - makes about 10m for the year (which I seem to remember being mentioned previously??) with a small loss for the full year of about 300k .

Taking the 11m order boook into account and a generally boyant mood (I detect), lets say we turn over 15m for 2007 at 37.5% gross margin and 5m overhead (assuming it grows 20% to cope with 50% increased sales) with zero interest charge (now we are in funds and trading profitably) - makes a profit before/after tax of 625k for 2007 = 0.0212p EPS and a PE of 12.

Wish I'd had a 300k loan to convert into common stock!

sd

LOL
We shall see, years of B.S. from this lot have made me a cynic, I recall talking to the CEO some 5 years back, telling me things were wonderful- well he would, well they all do, well they all will, hah, its our $$$ not theirs!!

g`luck

Happy New Year all!

Fundamentals
8.76M 'delivered' sales in 18 months to 30 Sept 05. Run rate ~500k pm and now profitable. Order book of >11M (7m 1 year ago). Probably no more dilution.
c5m from placings+Cornell+RBS funds available. Balance sheet good. Chairman 1m invested, Big holdings in co. by UBS et al...and no one yet knows or cares about GME. Perfect setup.

From Todays Evening Standard
GOOD on you, Philip Wood. You may have quit as a non-executive director of scandal-struck Lang bar International on 19 December when turnaround specialist David Buchler moved in (shortly after the Serious Fraud Office began probing the "missing" 365 million). But that didn't stop you, two days later, accepting 25 million share options in oil and gas services company Global Marine Energy, where you remain chairman and a major shareholder. This is the same Global Marine Energy that was forced to abandon its International Drilling Corporation rig-building division following the furore surrounding its joint venture partner: Langbar International. Since Langbar's shares were suspended in October, Global Marine's stock has collapsed from O.39p to O.25p. OK, the crash is mainly due to a discounted issue of new shares, but IDC'sfate hardly helped. In the light of the publicity surrounding Wood's resignation from Langbar the following month, would Global Marine havefound investors so ready
to part with 4. 7 million in November's share placing?

Owl what do you think of the above artical and more importantly I wonder what Wood makes of it.


I still want to buy more shares but think I will wait until after consolidation.

Chrissie - where have you been? Behaved yourself over the new year I hope ;)

IMO good news is Wood has done what was needed - restructured company, put it on fully financed footing+restored overdraft. I think he'll stay - certainly purchases, options etc mean he intends to. Visit to Brazil was (I think) to confirm the assets were there before going ahead with jv deal. It was a form of DD but not for Langbar.

If (worst case) he were to leave, Findlay, Wild, G.Nicholas & Fitzpatrick could easily carry on. They just need to complete 3m sales this year, 8m next. Most work comes from Patriot not NIM, and Wood has been doing the restructure work not sales - though of course alledged connections may have helped.

ps checked loan conversion with LSE. They are 'reasonably comfortable' with the arrangement! Amazing.

Apparently, I behaved very well indeed!

I can't help thinking/wishing that something good is afoot at GME. Big institutions on board, banking facilities in place with RBS and PWs personal investment of 1mil. (This is what I keep repeating to myself when feeling upset about the sp and my average). But it's true isn't it? How can 2006 possibly be a bad year for GME with everything now in place and order books full etc.

I will buy more just after consolidation.

Well, last day as a penny share.
Tomorrow s/be a sensible looking price for first time ever. Final piece of jigsaw that sees GME as a real company. Seem to be few sold-outs waiting to buy back.

So new dramatic pic in header for launch :)

I'm told they'll be a video clip put on PMH & GME sites soon.


Released today On OTBB re rearranged programme.

Patriot Mechanical Handling to Be Featured on the 'Sunday On the Money' Show
Over 69 Million Viewers Receiving Super Station WGN Cable Channel Can View the Program Sunday January 8th at 9:30 AM EDT
Patriot Mechanical Handling Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that its CEO, Paul Findlay, will be a featured guest on the 'Sunday On the Money' show. The segment will air on Sunday, January 8th at 9:30 AM Eastern time on Super Station WGN cable channel. Check your local listings for the WGN channel in your area.

"The 'Sunday On the Money' show is an excellent opportunity for us to provide the investing public with an overview of Patriot and the market we address," stated Paul Findlay, CEO of Patriot. "We are excited about the growth we are experiencing and look forward to continuing to tell our story to new audiences."

Sounds good to me! Big day today, consolidation has been hanging over us for weeks now. I expect we'll see a dip but soon after the dust has settled it will be a case of up up and away!!!!

Up 10500%!! ;)
Excellent news - Their advisers have taken an enormous stake. Everyone who counts is getting aboard, and GME is still just a whisper.




Global Marine Energy PLC
06 January 2006


6 January 2006

Global Marine Energy plc ('the Company')

Notifiable Interest

The Company announces that it received notification on 5 January 2006
that Gartmore Investment Management plc ('Gartmore') acquired
332,500,000 ordinary shares of 0.025p in the Company as part of the
placing of ordinary shares admitted to AIM on 5 January 2006.
Following the acquisition Gartmore, through its business group and
legal entities, had an interest in 758,250,000 ordinary shares of
0.025p each in the Company, representing 17.08% of the issued share
capital of the Company. The Company had previously received notification on
2 December 2005 that Gartmore had a notifiable interest in 418,250,000 ordinary
shares, representing 14.17% of the issued share capital of the company.

The Company announces that it received notification on 5 January
2006 that following the placing of shares admitted to AIM on 5
January 2006 Noble VCT plc holds 200,000,000 ordinary shares of
0.025p in the Company, representing 4.51% of the issued share capital
of the Company.

The Company also announces that it received notification on 5 January
2006 that following the placing of shares admitted to AIM on 5
January 2006 UBS AG, acting through its business group and legal
entities, holds 275,855,876 ordinary shares of 0.025p in the Company,
representing 6.22% of the issued share capital of the Company. The
Company had received notification on 2 December 2005 that on 1
December 2005 UBS AG had a notifiable interest in 148,802,938
ordinary shares, representing 5.04% 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
The company news service from the London Stock Exchange

Chrissiemail...

Well, bugger me!
I held these shares from 0.90 down to 0.42 before finally bailing out. Oh well, c'est la vie!
Congratulations to The Owl and Chrissie for having the courage of their convictions and sticking with this share. Enjoy your profits and if you uncover any more little treasures like this please feel free to let me know, Mr. Owl.
Once again, congratulations to the both of you.

pma68 - not quite as good as it looks - YET!
There's been a 100/1 consolidation, which is great as it takes us away from penny share status, but we have 100x less shares.

Fundamentally, looks very strong with all the buyers & Gartmore with 7.58M (17%), and I think something's coming next week.

erm profits?

100X reduction in numbers= 10000% - a real "increase " in share price of 9483% looks remarkably like a "real" decrease of -5%- in cash, call me old fashioned for the maths.

Fewer shares, 4 big buyers, and trading profitably.
Bound to dip back to 17-19p level to check support from Goldman, UBS, Noble et al - consolidations always do. After dust settles - should bounce as 'trading profitably' if Wood's last RNS is to be believed. T/over 8.76M in last 18months (better than 2001-2004 combined) aint bad, and if they win no orders, still an 11.3M book to eat through.

Patriot up 31%.