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%

ah, that's you is it :-)

One of the most succint statements of non-information in the English language, "It's me'"

Global Marine Energy PLC
10 April 2007

Global Marine Energy PLC

10 April 2007



Global Marine Energy PLC

Consolidation of GME's interest in Patriot



The Board of Global Marine Energy PLC ('GME' or the 'Company') is pleased to
announce that following a restructuring of its Patriot Mechanical Handling ('
Patriot') business the Company now has 100% direct interest in the three Patriot
operating companies Patriot Mechanical Handling Inc (Texas), Patriot Mechanical
Handling Ltd (UK) and Patriot Mechanical Handling Pte Ltd (Singapore) (together
'the Patriot Subsidiaries').



As part of the restructuring process GME has gained 100% interest in the Patriot
Subsidiaries in return for relinquishing its remaining 81% interest in Patriot
Mechanical Handling Inc (Delaware) to a third party. Prior to the restructuring
Patriot Mechanical Handling Inc (Delaware), listed on the OTC Bulletin Board in
the US, owned 100% of each of the Patriot Subsidiaries. This company is in the
process of changing its name to Kensington Industries, Inc.



The transaction now removes the outstanding 19% minority interest in the Patriot
business and going forward GME will benefit from 100% of Patriot's performance.
This has been achieved at no cost to the shareholders of GME.





Paul Finlay, Chief Executive Officer of Global Marine Energy PLC, commented



'... We now have 100% interest in the operating companies of Patriot which
ensures that GME and its shareholders receive 100% of any growth and increase in
value of the Patriot group. I am particularly pleased that this has been
achieved without any dilution to our shareholder base ...'





For further information:

Global Marine Energy Plc Tel: 01274 531 862
Paul Findlay, CEO of GME Plc

Bankside Consultants Tel: 020 7367 8888
Michael Padley / Susan Scott

does change of adviser mean potential capital raising soon ??

Probably,it would not be out of character for GME would it?

Sticking with this GME. 2 years in GME in 9 days!!

Would be good to see action soon, however as this BB is inactive, can I declare THREAD CLOSED. Just doing a bit of house-keeping.

Best of luck to all holders.

owl,

You cannot make a silk purse from a sows ear.

This co is no good and never will be, integrity and quality of management is a fundamental requirment and is sadly lacking in this crew.

Having said that, the no of comebacks from the dead leave Lazarus looking like an amateur.

Any investor looking at this one needs to research back at least 7 years to realise just what a pile of poo the share is. Prior to the last name change and consolidation they had more paper in issue than the Bank of England and, if they survive yet again, that's where they will be heading again if any stupid institutions are prepared to back them, or even worse, P I mugs dragged in by 'Penny Share' salesmen can say goodbye to their dough.

tt.

Cash offer of 13p from EMER International Group Ltd seems likely.
Talks continue. Present price of Global Marine 9-3/8 pence.

13 pence per share reverse takeover offer for Global Marine Energy PLC (GME),
44.4 % over closing price of a GME share of 9.0 pence on Sept 27.

Deals coming though at just under 16p as expected.

i.e On Nov 6, EMER upped its original 13 pence per share reverse takeover offer, dated Oct 19, to 16 pence per share, valuing GME at 11.6 mln.

booght in today...seems a 30% profit no brainer

Should be no brainer as you say maestro,
3 deals at over 20,000,000 today.
But ! Needs close monitoring.
We may need to ' do the Hokey Cokey' !

ticking up nicely

yes so so, should reach about 15p based on take over price i.e16p per share

Be very quick to sell!!

If and when it does get to around 15/16p

Absolutely capetown !
The three large deals that went through on the 18th 3 X 20,000,000 were @15.50p so as with all dealing monitor.
% increase since the 12th fine with me it pays for we wii !

heard a whisper that another bidder is prowling... 20p?